Paytm is a leading Indian e-commerce platform specializing in mobile payments and financial technology. It enables users to purchase products and services through instant payments using UPI linked to any bank account.
Recently, Paytm ventured into loan products and began offering business loans to its customers.
Paytm Business Loan Details
| Loan Details | Description |
|---|---|
| Interest Rate | Based on the applicant’s profile and business needs |
| Eligible Entities | Paytm Merchants |
| Maximum Loan Amount* | Up to ₹5 lakhs |
| Repayment Tenure | Daily installments via Paytm settlement auto-deduction |
| Collateral Required | Not required |
| Foreclosure Charges | Zero |
| Lending Partners | Sunrise Bank, Fullerton India, Piramal Finance, Clix Capital |
How to Apply for a Paytm Business Loan?
Step 1: Download the Paytm app on your smartphone.
Step 2: Open the Paytm app and go to the ‘Business Loan’ tab.
Step 3: Enter the required loan amount on the next page.
Step 4: Use the slider to choose the loan amount and repayment tenure.
Step 5: After selecting the loan amount, click on ‘Start Loan Application.’
Step 6: Complete your KYC process at the nearest KYC center.
Step 7: After KYC verification, a Paytm agent will initiate the loan process.
Step 8: Once documents are verified and approved, the loan amount will be disbursed to your Paytm savings/current account.
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Benefits of Paytm Business Loan
- Business Current Account Option: Open a current account for business needs.
- Simple and Transparent Process: Easy application and approval process.
- Loan Tracking Options: Track transactions and passbook updates in the app.
- Pre-approved Loans: Merchants can get pre-approved loans to expand their businesses.
- Flexible Repayment Options: Convenient loan repayment options for working capital.
- Supplier Discounts: Get cash discounts from suppliers.
- Higher Loan Eligibility: Merchants with a good repayment record can qualify for higher loan limits after loan completion.
Frequently Asked Questions (FAQs)
Q: What is the loan amount for a Paytm Business Loan?
A: The minimum loan amount is ₹10,000, and the maximum loan amount is ₹2 lakhs.
Q: What is the loan repayment tenure for a Paytm Business Loan?
A: The maximum repayment tenure is 180 days.
Q: Do I need to provide any collateral/security for a Paytm Business Loan?
A: No, you do not need to provide any collateral or security deposit.
Q: What is the Paytm Business Loan customer care number?
A: You can contact customer care at 0120-4440440.
Conclusion:
Paytm Business Loan offers a seamless and transparent lending process, helping small and medium enterprises grow without financial constraints. By following a few simple steps on the Paytm app, eligible merchants can secure funds and focus on expanding their businesses.
