Paytm is giving loans up to Rs 5 lakh through digital medium without any guarantee, which businessmen can take advantage of.
In today’s time, if a person wants to take a loan, then the procedures for this have become very easy. In such a situation, just your CIBIL score should be good. The special thing is that apart from banks, various facilities are also being provided for different loans by the Digital Payment Platform. After Google Pay, Paytm has brought a great loan facility for small businessmen, which you can also take advantage of easily.
Paytm brought great offers
Actually, a great offer of loan up to Rs 5 lakh has been introduced by Paytm for small traders. If you also want to take this loan, then you will not have to give any kind of guarantee for this. Apart from this, you can pay it as EMI on daily basis which can prove to be a great offer for you.
It is worth noting that Paytm has partnered with commercial banks and NBFCs to provide this facility to customers. If you want to take a loan then you have to go to ‘Merchant Lending Program’ in Paytm for Business app.
Easy application process
You have to follow this process to get the loan.
- Check the available offers by tapping on the ‘Business Loan’ icon on the home screen of the Paytm for Business app. You can also reduce the loan amount as per the need.
- Check the EMI details and click on the check box here and then tap on ‘Get Started’. Submit your KYC data with CKYC to complete the loan application.
- Enter the information sought here, PAN, date of birth and e-mail etc.
- Submit your loan application after KYC verification. After this, on getting the loan approval, the money will be sent to your account.
Will not take any document
The special thing is that this Paytm loan application will be completely digital. There is no need to provide any kind of document in this. Loan repayment will be taken on daily basis from merchant’s daily settlement with Paytm. If one wants to close the loan prematurely, then it will not incur any additional charges and all the money will be repaid.