1 / 9If someone had said that users can get a loan from WhatsApp, an instant messaging app, anyone would not believe it at first. But yes it is true. WhatsApp has launched a new service to lend to its users.2 / 9Get a loan on WhatsApp in just five minutes. But this is not going to be a personal loan of any kind, it is going to be a business loan. According to the company, loans of up to Rs 10 lakh will be given to business users.3 / 9Non-banking financial company (NBFC) IIFL Finance has offered loans to users doing business through WhatsApp. A press release issued by the NBFC provides important information in this regard.4 / 9It is the first company in the country to offer instant business loans on WhatsApp. Users will need a minimum of documentation for this. At the same time, the loan will be delivered to the users in five minutes. Users can take loans up to Rs 10 lakh.5 / 9WhatsApp has used artificial intelligence bot technology to lend. KYC and bank account details are matched by this bot. Let's find out, what exactly is this process going to be like?6 / 9If a user wants to take a loan, you have to send a message to WhatsApp number 9019702184. The user needs to send a 'hi' message to this number. The user will then be asked for information such as name and occupation.7 / 9This will be followed by questions related to the partnership. Here users will also be asked for turnover information. After submitting all the information, the bot will ask you to provide details to check your credit history.8 / 9IIFL will verify the user's credit history via OTP. It will then provide complete information on the loan amount, interest rate, and EMI. Eventually, the user will have the opportunity to choose the loan amount according to your eligibility before the loan is approved.9 / 9To get a loan, users need to provide a bank account and IFSC code. Upon completion of the process, your loan money will be transferred to the user's bank. A Hindi website has reported about this.