Paytm Personal Loan : Almost all people use Paytm to pay the amount because Paytm app is a very popularapplication. You must have this application in your mobile too. Some time ago, the option of personal loan was made available in the Paytm app, due to which now personal loan can be easily taken from Paytm.
Personal loan from Paytm can be taken only by those people who are eligible to take personal loan from Paytm and who have their Aadhar card, PAN card and bank account statement. The process of applying for personal loan in Paytm is completely online, that is, you do not need to go anywhere, you can apply for personal loan using your mobile.
What is Paytm Personal Loan?
Whenever a personal loan is taken by applying for a personal loan in the Paytm app , the personal loan received from Paytm is called Paytm Personal Loan. You can take a personal loan from ₹ 10 thousand to ₹ 2 lakh from the Paytm app . If you are eligible for a higher loan, you can also be given a loan of up to ₹ 5 lakh.
If you apply for a personal loan in Paytm , the annual interest rate can range from 10% to 36% or even higher as the interest rate depends on your credit profile and many other important factors.
Eligibility for Paytm Personal Loan
- To take a loan from Paytm , your CIBIL score must be good.
- You should not have been proven as a defaulter by any bank or company.
- Your mobile number should be linked to your Aadhar card.
- You must have a bank account and there must be transactions in it.
- You must be an Indian citizen to apply for the loan.
- You must have the KYC documents with you.
Benefits of taking Paytm Personal Loan
- One can apply for a personal loan in Paytm at any time .
- You can apply for that loan by selecting the loan amount as per your requirement .
- Your credit score will also increase when you repay the loan amount taken from Paytm from time to time .
- Everyone from students to adults can avail Paytm personal loan.
Benefits of taking loan from Paytm
- Fast processing : The entire process from application to loan disbursement is completed in 2 minutes.
- No physical documents : All documents can be submitted online.
- Free Approval Check : You can check whether you are eligible for a loan or not, without paying any fee.
- Flexible repayment options : You can choose the EMI tenure as per your convenience .
- Use for any purpose : This loan can be taken for personal expenses, medical, travel, or other needs.
Paytm Loan Comparison with Other Apps
| Parameters | Paytm | Cash | MoneyTap | LazyPay |
|---|---|---|---|---|
| Loan Amount | ₹1,000 – ₹2,00,000 | ₹5,000 – ₹3,00,000 | ₹3,000 – ₹5,00,000 | ₹10,000 – ₹5,00,000 |
| interest rate | 13% – 25% | 24% – 30% | 15% – 24% | 18% – 30% |
| Tenure | 3 to 24 Months | 3 to 18 Months | 2 to 36 Months | 3 to 24 Months |
| Processing Fees | 2% – 4% | 2% – 3% | 2% – 3% | 1.5% – 2% |
Documents required
- Identification Card : PAN Card and Aadhar Card.
- Bank Account Details : Bank Statement (last 6 months).
- Income Proof : Pay slip or ITR.
- KYC must be completed : KYC process is mandatory on Paytm.
How to apply for Paytm Personal Loan?
- First of all, if you do not have Paytm app in your mobile , then download it from Google Play Store and create your account in it.
- If KYC has not been done then complete your KYC.
- Now click on the personal loan option appearing on the home page .
- After doing this, now read and enter all the information. Also select the required information.
- If you are eligible for the loan, you will be informed immediately. After this, you have to enter the bank account number and other information and submit the loan application form.
- By doing this, Paytm personal loan will be transferred to your bank account in just a few minutes.
Is Paytm loan for everyone?
Paytm loan is mainly available to those who are already Paytm customers and whose KYC process has been completed. Also, you should have a stable income and a good credit score.
Paytm’s instant loan is a simple and fast option for those who need money immediately . Its digital process, fast approval, and easy payment options make it very convenient. However, you have to keep in mind its interest rates and fees.
conclusion
Whenever you apply for Paytm Personal Loan , you will be provided the loan very quickly, in such a situation you will be able to use the loan immediately as per your requirement. If you face any kind of problem in taking a loan, then you must ask by commenting. We will also tell you information related to that so that you do not face any problem in taking a loan .