Paytm launched a personal loan service, 365 days of the year, anytime, you will be able to get a loan in just 2 minutes

Paytm, the country's leading digital payment service platform, has launched an instant personal loan service. It has been started to make Paytm's credit service accessible to the general public. The benefit of this service of Paytm can be availed at any time of the year, even you can apply for this loan on a holiday.

Paytm is the technology and distribution partner of NBFC and will help them in providing loan service to salaried people, small business owners, and professionals. These loans will be given through NBFC and banks. This move will bring 'new credit' to the scope of the formal financial market for customers, and will also empower individuals from small cities and towns who do not have access to traditional banking institutions.

Loan will be available in just 2 minutes

Paytm can get personal loan service 365 days of the year at any time in just 2 minutes. It can get an instant loan of up to two lakh rupees. This loan will be available based on credit score and shopping pattern. You can repay this loan in 18-36 months EMI. Paytm has tied up with many banks and NBFC for this service. The company is now planning more than 1 million users by the end of the financial year to avail of the personal loan service from the platform.

'Purpose is to make loan easier'

Paytm Lending CEO Bhavesh Gupta said, "Our objective is to make instant personal loans accessible to self-employed, new credit individuals and young professionals, who can easily get personal loans to book immediate expenses and fulfill their dreams." There should be no obstacle. "