Paytm is an Indian e-commerce platform and one of the leading mobile payments and financial technology companies that helps in the purchase of products and services via instant payments done with the help of UPI using any bank account. Paytm has recently ventured into lending products and has started offering business loans to its customers. Find below the details for the same.
Paytm Business Loan – 2023
Interest Rate As per the applicant’s profile and business requirements
Eligible Entities Paytm Merchants
Max. Loan Amount Up to Rs. 5 lakh
Repayment Tenure Repay in daily installments via Auto Deductions from Paytm settlements
Collateral Not required
Foreclosure Charges Nil
Lending Partners Suryoday Bank, Fullerton India, Piramal Finance & Clix Capital
Note: Loan facility is offered by Paytm’s NBFC partners, such as Piramal Finance, Fullerton India, Clix Capital and Suryoday Finance.
Apply for Business Loans for Small Businesses Apply Now
Steps to apply for Paytm Business Loan
Step 1: Download the Paytm App on a smartphone
Step 2: Go to the Business Loan tab on Paytm App
Step 3: Enter your details like PAN number, Date of Birth and Email address
Step 4: Take a Selfie to complete your KYC and profile verification
Step 5: After loan approval, get loan amount directly to your linked bank account
Benefits of Paytm Business Loan
- Offers options to open a current account for business purposes
- Simple and transparent loan process
- Feasible tracking options
- Customized passbook
- Can disburse money to user’s Paytm’s bank account
- Tracking of transaction reports is possible
- Can promote business on Paytm for Business App
- Pre-qualified loans for merchants that shall help them in expanding their businesses
- Flexible repayment options for working capital loans
- Get cash discounts from suppliers with upfront payments
- Merchants with no defaults are eligible for a higher loan limit, once the current period exhausts
Appy for Business Loan starting @ low interest rate Apply Now
FAQs
Q. What is the loan amount offered by Paytm for its business loan?
Ans. The maximum loan amount offered is up to Rs. 5 lakh.
Q. Do I need to submit any collateral, if I take a business loan from Paytm?
Ans. No, there is no need to provide any collateral in case you want to take a business loan from Paytm.
Ans. 0120-4456-456 is Paytm helpline number and can be contacted 24X7.
Ans. Nil, there are no foreclosure charges charged by Paytm on its business loan.
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