It often happens that you suddenly need money. At this point, if you apply for a loan at a bank, it takes a long time to complete the process. Along with this, many such documents are requested, which you may not even be able to complete. If such a situation comes with you, Paytm may be a good option for you, as you can now also take a loan from Paytm with which you used to pay the bill.
Just a few months ago, Paytm launched a new facility to give people instant personal loans. So some special customers of Paytm are given instant loans up to Rs 2 lakh. What’s special is that you don’t have to wait long for this loan. If you are eligible for a loan, you can get a loan of up to Rs 2 lakh within a few minutes. Here’s how you can get a loan. And what is the whole process?
All online service
The entire process of this Paytm loan is online. You do not have to go to any bank etc. once to get a loan. The special thing is, the whole process of taking a loan is completed in just 2 minutes. And within 2 minutes the money is transferred to your account. You can also avail this service of Paytm on National Holidays and Sunday Holidays. Or it can be taken advantage of any day.
Who gets a loan?
This new instant loan is available to job seekers, small business owners and professionals. It involves getting a loan based on your credit score. Also, this Paytm loan has to be repaid in 18-36 months. And you can pay accordingly. The company said it has reached an agreement with some NBFCs and banks to provide the facility and you can manage the entire account from the Paytm app.
How to take a loan?
If you also want to take a loan through Paytm, you can complete the next process by going to the Financial Services section of the Paytm app and then clicking on the Personal Loan tab. After which you have to give the information requested from you. And its eligibility will be looked into. And then the money will be transferred to your account.