Personal loans
We define personal loans as lending money from one individual, organization, or entity to an individual consumer on a nonrecurring basis, not for the purpose of financing purchase of a fixed asset or education. Personal loan consumers require information about the quality, features, fees, repayment schedule, risks, and benefits of loan products in order to make informed decisions about whether to undertake the loan.
- Examples: Personal loans, payday loans, peer-to-peer loans, title loans
- Examples not included: Mortgages, car loans, revolving lines of credit (such as credit cards, personal lines of credit)
Apps that provide personal loans, including but not limited to apps which offer loans directly, lead generators, and those who connect consumers with third-party lenders, must have the App Category set to “Finance” in Play Console and disclose the following information in the app metadata:
- Minimum and maximum period for repayment
- Maximum Annual Percentage Rate (APR), which generally includes interest rate plus fees and other costs for a year, or similar other rate calculated consistently with local law
- A representative example of the total cost of the loan, including the principal and all applicable fees
- A privacy policy that comprehensively discloses the access, collection, use and sharing of personal and sensitive user data.
We do not allow apps that promote personal loans which require repayment in full in 60 days or less from the date the loan is issued (we refer to these as "short-term personal loans").
High APR personal loans
In the United States, we do not allow apps for personal loans where the Annual Percentage Rate (APR) is 36% or higher. Apps for personal loans in the United States must display their maximum APR, calculated consistently with the Truth in Lending Act (TILA).
This policy applies to apps which offer loans directly, lead generators, and those who connect consumers with third-party lenders.
Additional requirements for personal loan apps in India, Indonesia, the Philippines, Nigeria, and Kenya.
Personal loan apps in India, Indonesia, the Philippines, Nigeria, and Kenya must complete the additional proof of eligibility requirements below.
- India
- Complete the Personal Loan App Declaration for India, and provide necessary documentation to support your declaration. For example:
- If you are licensed by the Reserve Bank of India (RBI) to provide personal loans, you must submit a copy of your license for our review.
- If you are not directly engaged in money lending activities and are only providing a platform to facilitate money lending by registered Non-Banking Financial Companies (NBFCs) or banks to users, you will need to accurately reflect this in the declaration.
- In addition, the names of all registered NBFCs and banks must be prominently disclosed in your app’s description.
- Ensure that the developer account name matches the name of the associated registered business name provided through your declaration.
- Indonesia
- Complete the Personal Loan App Declaration for Indonesia, and provide necessary documentation to support your declaration. For example:
- If your app is engaged in the activity of Information Technology-Based Money Lending Services in accordance with OJK Regulation No. 77/POJK.01/2016 (as may be amended from time to time), you must submit a copy of your valid license for our review.
- Ensure that the developer account name matches the name of the associated registered business name provided through your declaration.
- Philippines
- Complete the Personal Loan App Declaration for the Philippines, and provide necessary documentation to support your declaration.
- All financing and lending companies offering loans via Online Lending Platforms (OLP) must obtain a SEC Registration Number and the Certificate of Authority (CA) Number from the Philippines Securities and Exchanges Commission (PSEC).
- In addition, you must disclose your Corporate Name, Business Name, PSEC Registration Number, and Certificate of Authority to Operate a Financing/Lending Company (CA) in your app’s description.
- Apps engaged in lending-based crowdfunding activities, such as peer-to-peer (P2P) lending, or as defined under the Rules and Regulations Governing Crowdfunding (CF Rules), must process transactions through PSEC-Registered CF Intermediaries.
- Nigeria
- Complete the Personal Loan App Declaration for Nigeria, and provide necessary documentation to support your declaration.
- Digital Money Lenders (DML) must adhere to and complete the LIMITED INTERIM REGULATORY/ REGISTRATION FRAMEWORK AND GUIDELINES FOR DIGITAL LENDING, 2022 (as may be amended from time to time) by the Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria and obtain a verifiable approval letter from the FCCPC.
- Loan Aggregators must provide documentation and/or certification for digital lending services and contact details for every partnered DML.
- You must, upon Google Play's request, provide additional information or documents relating to your compliance with the applicable regulatory and licensing requirements.
- Kenya
- Complete the Personal Loan App Declaration for Kenya, and provide the necessary documentation to support your declaration.
- Digital Credit Providers (DCP) should complete the DCP registration process and obtain a license from the Central Bank of Kenya (CBK). You must provide a copy of your license from the CBK as part of your declaration.
- If you are not directly engaged in money lending activities and are only providing a platform to facilitate money lending by registered DCP(s) to users, you will need to accurately reflect this in the declaration and provide a copy of the DCP license of your respective partner(s).
- Currently, we only accept declarations and licenses from entities published under the Directory of Digital Credit Providers on the official website of the CBK.
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