Paytm Offering Financial Opportunity To Small Merchants
Paytm is an Indian Multinational Company that offers digital payments services, financial assistance & e-commerce platforms. The company has shown a massive development in providing non-banking financial services also. Now with the latest update, Paytm is now offering instant loans up to 5 lakh to small merchants. These loans are collateral-free and merchants avail themselves instantly through an online process. According to the reports Paytm is coordinating with a few commercial banks and NBFCs to provide these financial services. After reading the Mint reports we came to know that the interest rates on these loans are very low and merchants can pay them with a daily EMI option. This is the perfect opportunity for small merchants to balance their financial conditions.
Merchants can avail of instant loans through Paytm’s Business App under the merchant lending programme. App uses the algorithm to check the creditworthiness of the merchant according to his transaction history. The complete process to avail of the loan is digital and no other documents are required.
Follow these simple steps to avail of the offered Instant loan
- Open the Paytm Business App, you will see the option ‘business loan’.
- Tap on the business loan to get the available offers for you. You can increase or decrease the loan amount as per the requirement.
- Further after filling in the details, you will see the important details like loan amount, disbursement amount, tenure, EMI options and more.
- Now after choosing the prefered loan option click on the box to verify.
- After that click on proceed to verify your KYC details from CKYC, with CKYC verification process becomes very easy with minimal documentation.
- To sanction the loan you will have to fill in your PAN details to verify.
- For the final step just submit your loan application, then Paytm transfers the loan amount to your bank account.