This special collateral free loan of Paytm is for small traders, which can be availed sitting at home, this will help them to grow their business.
Paytm loan offer for merchants: Paytm has partnered with some scheduled commercial banks and NBFCs to offer products with collateral free loans up to Rs 5 lakh at low interest rates and special daily EMIs. The special thing is that the company has brought this offer for small merchants. These loans can be taken under the ‘Merchant Lending Program’ in Paytm’s business app. This will help small merchants to grow their business.
The loan limit will be decided based on the merchant’s daily transactions and pre-qualified loan will be offered.
Loan process will be completely digital
With the completely digital process of applying for the loan, no additional documents are required. The loan amount will be primarily through daily settlement at the merchant’s Paytm and there will be no prepayment charges for this loan.
You will get loan through these 5 easy steps:
1. Click on “Business Loan” on Paytm for Business App to see the offers available to you. You can also increase or decrease the loan amount depending on your need.
2. Once the amount is selected, you will be able to access details like loan amount, amount to be received, total payment, daily installment, tenure etc.
3. Verify your details, click on the check box and click on “Get Started” to start the loan process. You can collect KYC details from CKYC to complete your loan application expeditiously. You can also give your consent for
4. On the next screen, you can confirm or fill in the details like PAN card data, date of birth and e-mail address. Once the PAN details are verified, your credit score will be checked and the KYC details will be confirmed.
5. After the loan application is submitted, the loan amount will be credited to your bank account. However, make sure to check all your details before submitting the application.
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