Digital Payments Service Platform Paytm (Paytm) has launched the instant personal loan service. This service of Paytm will be available 24X7 i.e. you can take a loan 365 days a year. Through this service, users will get a loan in 2 minutes.
An instant loan of up to Rs 2 lakh can be availed through this service of Paytm. The company says that salaries, small business owners and professionals will be able to get loans easily. This move will bring ‘new credit’ to the scope of the formal financial market to customers, and will also empower individuals from small towns and towns who do not have access to traditional banking institutions. Let us tell you how you can take a loan through Paytm and what are the rules and laws of taking a loan.
>> This loan of Paytm will be available on the basis of credit score and shopping pattern.
>> Customers can repay the loan amount in an EMI of 18 to 36 months. These loans will be given through NBFC and banks.
>> People who want short term loans immediately. This will meet their immediate needs.
>> Interested customers can complete the further process by going to the Financial Services section of the Paytm app and then clicking on the Personal Loans tab. Let me tell you, during the beta phase, the company has given loan to 400 selected customers.
Paytm’s instant loan will make everyone’s dreams come true: Paytm
Paytm Lending CEO Bhavesh Gupta says that people can avail this facility to meet their immediate needs. In many places, the banking service is out of reach, people are unable to fulfill their dreams. But now with this new initiative people will be able to take an instant loan.
