Paytm is giving loan up to Rs 5 lakh without guarantee, pay in installments daily

25% of merchants have taken loan more than once. Now the loan is being taken from Rs 120,000 to Rs 140,000 with an average tenure of 12-14 months.

You can also increase or decrease the loan amount as per your requirement.

If you run a grocery shop or do small business, then the news is of great use to you. Digital payments and financial services company Paytm (Paytm, Giving loans up to Rs 5,00,000 to small businessmen. Paytm has partnered with scheduled commercial banks and banks to offer collateral-free instant loans up to Rs 5 lakh at low interest rates. NBFC partnered with. To repay the loan, the company paid daily EMI option is given. This means businessmen will be able to repay the loan in daily installments. Loan can be taken from ‘Merchant Lending Program’ in Paytm for Business app.

The algorithm of Paytm’s app will decide who is eligible for the loan and who is not. The algorithm of this app decides whether the merchant is able to repay the loan based on the daily settlement made by the merchant on Paytm.

No charge for premature loan repayment

The process from applying for the loan to disbursing the loan is completely digital and does not require any additional documents. The loan prepayment is primarily collected from the merchant’s daily settlement with Paytm and there is no prepayment charge on these loans.

Get loan in 5 steps

>> Tap on the ‘Business Loan’ icon on the Paytm for Business app home screen and check the offers available to you. You can also increase or decrease the loan amount as per your requirement.

>> Once you select the amount, you will be able to view the details of loan amount, disbursement, total payable, daily installment, tenure etc.

>> Confirm your details, click on the check box and tap on ‘Get Started’ to proceed. You can also give your consent to get your KYC details from CKYC for quick completion of your loan application.

>> On the next screen, you can confirm or fill your PAN card details like date of birth and e-mail address. Once done, you can proceed with the offer confirmation. Once the PAN details are verified, your credit score will be checked and KYC details will be verified.

>> After submitting your loan application, the loan amount will be disbursed to your bank account. Please ensure that all the details are correct before final submission.

live mint According to the report, the average ticket size is increasing in a big way. Now the loan is being taken from Rs 120,000 to Rs 140,000 with an average tenure of 12-14 months. 25% of merchants have taken loan more than once.

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