How to Take Personal Loan From Paytm App: Friends, people need money to fulfill their needs, for which they work hard and do jobs. But despite that, they are not able to earn enough money to fulfill all their needs from their salary, then they need to take a personal loan.
For which they go to the bank, sometimes people get the loan easily by applying and sometimes they are not able to get the loan at the time of need. When people are unable to get loans from banks, financial institutions help them.
In today’s article, we will tell you how to take personal loan from Paytm App, how much loan will you get from Paytm, how much interest is charged on Paytm Personal Loan, eligibility for taking Paytm Personal Loan, what will be the repayment tenure etc. We are going to share all types of information with you which will be very useful for you. Therefore, read this article carefully till the end.
How to Take Personal Loan From Paytm App
| Name of Article | How to Take Personal Loan From Paytm App |
|---|---|
| Cagory | Personal Loan |
| Founder of Paytm | Vijay Shankar Sharma ji |
| Beneficiary | Citizens of Inida |
| Loan Apply Mode | Online |
| Location | Inida |
| Officla Website | paytm.com |
| Download App | Click Here |
What is Paytm App
Paytm App is India’s number one transaction application. With the help of which you can pay various types of bills, book tickets for trains, buses, airlines etc., do online shopping, do online transactions, get mobile recharge done and also take loan if needed. More than 45 crore people are using Paytm in India. The founder of Paytm is Vijay Shankar Sharma.
This is some information about Paytm. Now let us know how we can take loan from Paytm.
How to Get Loan from Paytm
Before taking loan from Paytm, you have to create your Paytm bank account which you can create easily. After creating your Paytm account, go to your nearest cyber café and complete your KYC process in Paytm. Only then you can apply for loan in Paytm. After this you can easily get Paytm Personal Loan.
Paytm had established Paytm Payment Bank for the convenience of its users. And recently, Paytm Payment Bank has made an agreement with ICICI Bank to provide loans up to Rs 2 lakh to the users.
Some Conditions to Apply for Paytm Loan
- It is necessary to have KYC of Paytm account.
- You also have to give details of what work you do to Paytm.
- You will have to add your bank details in Paytm in which you can take loan and pay EMI.
How to get Loan From Paytm
It is very easy to apply for personal loan from Paytm. If you are facing any kind of problem then follow the process given below.
- Step 1 – When you get your Paytm account verified, you will get the option of Personal Loan on Paytm Dashboard, click on it.
- Step 2 – After this, a form will open in front of you in a new window in which you will have to fill your PAN card number, date of birth, email ID and reason for taking the loan. You fill the form and click on the Proceed option.
- Step 3 – After this you will be asked to fill some additional details in which you have to select your profession whether you are Salaried, Self Employed or Not Employed. After that fill the details below accordingly and fill the name of your parents and click on Confirm.
- Step 4 – After this, if you are eligible to take the loan then your application will be accepted and if you are not eligible then your application will be rejected.
- Step 5 – If your application is accepted then after some time you will get a call from Paytm informing you that your loan has been approved. And the loan amount will come to your account within 24 hours.
So after doing such a simple process, you can easily get a loan from Paytm.
Eligibility for taking loan from Paytm
Check your eligibility before applying for loan from Paytm. To take loan from Paytm, you must have the following qualifications.
- Your nationality should be Indian.
- Your age should be between 25 to 60 years.
- You must have some source of income to repay the loan.
Documents Required for Paytm loan
To take loan from Paytm, you Must Have the Following Documents –
- PAN Card
- Aadhar card
- Current Bank Account
How Much will You Get for Paytm Personal Loan?
Whenever you go to any bank or financial institution to take a loan, first find out how much loan amount you will get. If you use Paytm, you can easily get a personal loan ranging from Rs 10 thousand to Rs 2 lakh from Paytm.
How Much Interest will be Charged on Paytm Loan?
You must be aware that whenever we take a loan, it has to be repaid with some percent interest. Paytm provides you the facility of personal loan and you must be aware that personal loan is a secured loan. Therefore the interest rates are also higher.
But if you take loan from Paytm then you get personal loan at very low interest rates. When you apply for loan from Paytm, you will be informed about the interest rates along with EMI.
For How Long Will You Get Loan From Paytm?
Whenever a loan is taken, it has to be repaid within a certain time period, which is called tenure in the bank’s language. When you take a loan from Paytm, you have to repay this loan for a period ranging from 6 months to 36 months. Which a common person can easily pay.
How Many Days Does it Take to Get Paytm Loan?
Paytm loans are completely online, you have to apply for Paytm loan online only. As we have mentioned the process above, you can apply for Paytm loan in just 2 minutes. After applying for the loan, the Paytm team will check your documents and the money will be credited to your account within less than 24 hours.
Charges on Paytm Loan
- Processing fee including GST
- Late Payment Fees – If you do not pay EMI on time
- Bounce Charge – Auto-debit bounce from the linked bank account only in case of EMI installments.
Features of Paytm Loan
Paytm Personal Loan has the following features. From which you will benefit –
- You can take a loan up to Rs 2 lakh from Paytm.
- The interest rates on loans in Paytm also remain low.
- By taking a personal loan from Paytm, you get time up to 3 years to repay the loan, which you can easily repay.
- Paytm does not charge any kind of fee before giving the loan.
- With Paytm you can apply for online loan sitting at home.
- While taking loan from Paytm, you require less documents.
- You can easily take a loan from Paytm wherever you live in India.
- Paytm loan is given on the basis of credit score.
Where can you use Paytm loan
You can use Paytm loan for the following purposes –
- wedding – in marriage
- You can go on holidays.
- You can use Paytm loan for your education.
- You can use Paytm loan to meet your household needs.
- You can use Paytm loan to buy a vehicle.
- You can use Paytm loan for your treatment.
- You can use Paytm Personal Loan for your personal expenses.
Read Also
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- HDFC Personal Loan Apply Status
- Bank of Baroda Personal Loan Status Check
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- आधार कार्ड पर 50000 का लोन कैसे मिलता है?
FAQ’s How to Take Personal Loan From Paytm App
Who can get instant loan from Paytm?
What type of loan can be taken from Paytm?
How much loan can one get from Paytm?
What happens if I don’t pay back the Paytm loan?
We learned – How to take Loan From Paytm App.
Through today’s article, we have given you complete information about how to take loan from Paytm app, which will definitely help you in taking personal loan from Paytm. We hope you liked this article written by us, share this article with your friends on social media and help them in taking Paytm loan.
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