Paytm Loan Scheme 2024: If you also belong to a middle-class family, then often you will need money for your work. But it is a bit difficult for middle and lower-class families to have a lot of money at once. In such a situation, we all resort to loans.
The process of taking a loan from the bank is quite long and troublesome. But do you know that now you can also take a loan from Paytm? Yes, loans are also being offered to people by Paytm. Paytm is a financial company that offers banking facilities to users. But now you can also take a loan from Paytm.
Paytm Loan Scheme 2024: You can take a loan from Paytm
Mostly it is used for online transactions, but now you can also take a loan from it. Paytm Payment Bank is a well-known NBFC company that works in partnership with companies like Fibe, Tata Capital, HeroFinCorp, and Aditya Birla Capital and provides loans with their help.
Paytm is approved by the Reserve Bank of India and NBFC, so taking a loan from here is absolutely safe. That is, you will not have any problem taking a loan from Paytm. In such a situation, if you want to take a personal loan, then you can apply for Paytm Personal Loan.
How much amount is available under the Paytm Loan Scheme
How much loan you will get from Paytm depends on what your financial history is and what your CIBIL score is. Generally, Paytm gives personal loans up to Rs 5 lakh to customers, while if you want to take a business loan, then the loan amount can also be higher. You get this loan for a maximum of 12 months.
If you meet the criteria of this application, then you will be able to easily apply online for Paytm personal loan. If we talk about its interest rate, then the interest rate of Paytm Personal Loan ranges from a minimum of 3% to a maximum of 36%, along with this a processing fee of 1.5% has to be paid.
Eligibility required for Paytm Loan Scheme
- The person taking the loan should have a salary of at least 12 thousand every month.
- Your CIBIL score should be good to take a loan.
- You should not be declared a defaulter.
- Your age should be at least 18 years.
- You should be a citizen of Indian origin and you should have at least 2 years of work experience.
- Your mobile number should be linked to the Aadhar card.
Documents required for loan
- Aadhar card
- PAN card
- Aadhar-linked mobile number
- Bank statement
- A selfie
- Salary slip etc.
How to apply for the Paytm Loan Scheme?
- To take a loan from Paytm, first of all you have to get the Paytm app in your smartphone.
- After get it, you have to install it on your phone and create your account.
- After signing up, you will see the option of Add Bank Account in the dashboard of Paytm, by clicking on it you will have to link your bank account with Paytm.
- After this, you have to click on the section of Personal Loan.
- Now you will get the tab of “Check Your Loan Offer”, you have to click on this tab.
- Now a new page will open in front of you, here you have to fill in your PAN number, date of birth, and email ID, then accept the terms and conditions and click on the option of “Proceed”.
- After this, you have to enter the information of occupation type, company name, monthly income of the year, PIN code, where you want to use this loan, etc., and click on the Confirm button.
- Now a new page will open in front of you where your eligibility will be checked. If you are eligible, you will get a Pop Up Page of Congratulations.
- After this, you have to click on the option of “Get Started”.
- After this, a new page will open in front of you where you have to select the EMI and tenure of the loan amount and continue.
- Then you will have to upload a clear selfie of yours.
- After this, to do KYC, you will have to enter the Aadhaar number and security code click on the option of “Send OTP” and verify the OTP.
- After doing this, you will have to select your gender and enter the PIN code.
- Now a new page will open where you will have to enter bank details such as account number and IFSC code.
- In this way, your loan process will be completed.
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FAQs
1. How much loan does Paytm give?
Through Paytm Personal Loan, any person can take a personal loan of up to Rs 3 lakh in 2 minutes, whose repayment period will also be 48 months. If you want to take a loan for a period of 1 month under Paytm Personal Loan, then you will not have to pay any interest rate.
2. What is required to take a loan on Paytm?
It is mandatory to link the mobile number with the Aadhar card. You should have the required devices for online loan. To take a loan, your monthly salary/income should be at least ₹ 12000. You will be able to take a personal loan from Paytm Payment Bank only if you have a good record of financial transactions.
3. How much loan can I get from Paytm?
What is the maximum amount I can borrow? Personal loan offers start from Rs 10,000 to Rs 3 lakh. The maximum amount may vary for each person.
4. Which bank gives instant loans?
When you apply for an HDFC Bank Personal Loan, you can get instant access to the funds you need. Not just that, HDFC Bank offers loans up to Rs. 12 lakh with pocket-friendly EMIs starting at ₹ 2,162/- per lakh loan amount with a flexible repayment tenure of up to 5 years.
