Paytm launches personal loan service

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By Ashish Mitra --
Wednesday, 06 Jan, 2021

Paytm has launched round-the-clock instant personal loan services. By way of this new offering, Paytm aims to offer loans to 1 million customers by the end of the fiscal. In the beta phase, however, Paytm has disbursed personal loans to more than 400 select customers.

Interested customers can avail this facility from the 'Personal Loan' option under the financial services section of the app. The online financial services giant has partnered with several banks and NBFCs to process and disburse loans in less than two minutes. The beneficiaries shall get flexible repayment tenure of 18-36 months and EMI will be determined accordingly.

Through this initiative, the One97 Communications-owned e-commerce behemoth plans to make personal loans accessible to the self-employed and young individuals.

Bhavesh Gupta, CEO of Paytm Lending stated, "We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfill dreams and ambitions."

Paytm launches personal loan service. Paytm has launched round-the-clock instant personal loan services. By way of this new offering, Paytm aims to offer loans to 1 million customers by the end of the fiscal. In the beta phase, however, Paytm has disbursed personal loans to more than 400 select customers.

Interested customers can avail this facility from the 'Personal Loan' option under the financial services section of the app. The online financial services giant has partnered with several banks and NBFCs to process and disburse loans in less than two minutes. The beneficiaries shall get flexible repayment tenure of 18-36 months and EMI will be determined accordingly.

Through this initiative, the One97 Communications-owned e-commerce behemoth plans to make personal loans accessible to the self-employed and young individuals.

Bhavesh Gupta, CEO of Paytm Lending stated, "We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfill dreams and ambitions."