In yet another move towards cementing their position in the financial niche, Paytm has now rolled out instant loan offers, which can be dispersed in 2 minutes with zero documentation.
How will it work?
Keep reading to find more!
Paytm’s Loan Upto Rs 2 Lakh In 2 Minutes
Paytm has introduced a new offer, wherein their users can get instant loans upto Rs 2 lakh, which will be approved in 2 minutes.
This loan facility will be available 24*7, and 365 days a year, and will need no documentation as well.
The tenure of the repayment can be extended till 36 months, and the EMI for repayment will solely depend on the tenure.
Bhavesh Gupta, CEO – Paytm Lending said, “We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfil dreams and ambitions.”
Salaried individuals, along with SMEs and entrepreneurs can apply for this instant loan facility.
How To Apply?
The eligible users can tap on the “Financial Services” section, and tap on the “Personal Loan” tab to apply for the loan, which will instantly approved.
The actual money will be provided by banks and NBFCs, with whom Paytm has partnered with.
During the testing phase, more than 400 users have already received the loans from Paytm.
As per reports coming in, Paytm aims to provide loans to 1 crore users, by the time 2020 financial year ends.
We will keep you updated, as more details come in
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