Unlike old times when only banks used to provide loans, now there are multiple channels to apply for a loan. In case you want to take a loan from Paytm, this article is for you.
The first thing that comes to our mind when we talk of a loan is how much one can get. Our needs and circumstances will vary which is why the loan amount needed will also differ.
You can avail a loan from Rs.10,000 to Rs.3 Lakh from Paytm to fulfill your requirements. However, the amount you can get will depend on your eligibility.
The fees and charges of a personal loan from Paytm depends on a number of factors. You can easily see your interest rate and tenure, once you start the application process.
If you are reading this and are wondering, ‘Am I eligible for taking a personal loan from Paytm?’, we have the answer for you.
To get a loan from Paytm-
You have to be an active Paytm user
Your age must be between 23 to 60 years
To check your eligibility, you can search for ‘Personal Loan’ on the Paytm app.
It is fairly simple to apply for a Paytm personal loan and not much documentation is required. All you need to do is-
Complete your KYC process
Give your PAN and Aadhaar details
Provide your bank account and EMI payment setup
It is a paperless journey and can be completed on your phone itself.
The application process consists of easy-to-follow steps -
Open Paytm on your phone and click on ‘Personal Loan’ on your home page
Enter your PAN number and other basic details
You will then get your loan offer. Check the interest rates, fees, tenure carefully
Share your bank account details and setup the EMI repayment procedure
You can borrow a loan of up to Rs. 3 lakh from Paytm.
Your loan amount will be transferred to the account that you used to register while applying for the loan.
Yes, you can foreclose your Paytm loan anytime, depending on your loan and the lender. You can go to your Loan Passbook in the Paytm app and click on the ‘Pay now’ section.
Unfortunately you cannot change the bank account after the loan has been disbursed. Please use the same account to pay your EMIs.
If you missed an EMI due to unavoidable circumstances, you can pay it manually. Go to the ‘Pay now’ section of the Paytm app, and clear your payment using your debit card or netbanking.
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