Are you looking for a business loan to expand your business, buy new equipment or manage your cash flow? If yes then you may want to consider Paytm business loan, a quick and paperless loan facility provided by Paytm’s NBFC and bank partners.
With more than 450 million customers and 17 million merchants, Paytm is one of the most famous digital payment platforms in India. Paytm offers various services and products for its customers and merchants such as payments banking insurance mutual funds and loans.
Paytm business loan is an exclusive loan product for Paytm merchants who can avail up to 10 lakh rupees of instant business loan without any collateral or paperwork. The loan application process is fully digital and online. Loan amount is directly credited to the merchant’s bank account within minutes.
In this article we will discuss the features benefits eligibility interest rate and other details of Paytm business loan. We will also guide you on how to apply for a Paytm business loan online using the Paytm for Business app.
Paytm Business Loan Details
| Loan Details | Paytm Business Loan |
| Loan Amount | Up to 10 lakh rupees (Minimum: 10000 rupees) |
| Loan Tenure | Up to 36 months (Minimum: 3 months) |
| Repayment Frequency | Daily installments automatically deducted from Paytm settlement amount; other options include UPI, debit card, net banking; repayment frequency can be changed (daily, weekly, monthly) based on cash flow and preference |
| Repayment Mode | Paytm for Business app, Paytm app, website, customer care number |
| Foreclosure Option | Can repay early without penalty or extra charges; option available after paying the first 3 installments; partial prepayments of up to 25% of outstanding principal amount allowed once a month |
Paytm Business Loan Features
Paytm business loan provides a number of appealing features that make it a handy and adaptable solution for small and medium-sized firms. Some the features are:
- Collateral-free: You do not need to provide any asset or property as security to get a Paytm business loan. The loan is based on your business performance and credit profile.
- Affordable interest rate: You can get a business loan at a competitive interest rate starting from 15% to 46% per annum depending on your loan amount tenure and credit score.
- Flexible tenure: You can choose 3 to 36 months of loan tenure according to your repayment capacity and business needs.
- Easy repayment: You can repay your Paytm business loan in easy daily instalments which are automatically deducted from your Paytm settlement amount. You can also use other modes of repayment such as UPI debit card or net banking.
- No foreclosure charges: You can repay your Paytm business loan early without paying any penalty or extra charges. This can help you save money on interest while also improving your credit score.
- No hidden charges: You do not have to pay any processing fee, documentation fee or any other hidden charges to get your business loan. The only fee is a one-time 18% GST on the interest amount.
Paytm Business Loan Benefits
Paytm business loan can help you grow your business and achieve your goals. Some of the benefits are:
- Quick and easy: You can get a business loan in just a few minutes without any trouble or paperwork. You just need to fill a simple online application form and upload a selfie and your PAN card. You can get an instant approval and disbursal of the loan amount.
- Customized and scalable: You can get a Paytm business loan that suits your business requirements and cash flow. You can choose the loan amount tenure and repayment frequency as per your convenience. You can also get a top-up loan or a higher loan limit based on your repayment history and business performance.
- Secure and transparent: You can get a business loan with complete security and transparency. Your personal and business information is protected and encrypted. You can also track your loan status repayment schedule and transaction history on the Paytm for Business app.
- Boost your business: You can use the Paytm business loan to boost your business and increase your revenue. You can use the loan amount to purchase inventory equipment, raw materials or any other business-related expenses. You can also avail cash discounts from your suppliers by making upfront payments. You can also improve your customer service and satisfaction by offering better products and services.
Paytm Business Loan Eligibility
To be eligible for a Paytm business loan you need to meet the following criteria:
- You must be a registered Paytm merchant with an active Paytm QR code.
- You must have a minimum monthly transaction volume of 20000 rupees on Paytm.
- You must have a minimum credit score of 650.
- You must have a valid PAN card and bank account.
Paytm Business Loan Interest Rate
The interest rate of Paytm business loan varies depending on your loan amount, tenure and credit score. The interest rate starts from 15% to 46% per annum. The interest rate is calculated on a reducing balance method which means that you pay interest only on the outstanding principal amount. Read: Understand how to use Emi Calculator.
The interest rate of Paytm business loan is lower than many other sources of business finance such as credit cards, personal loans or informal lenders. The interest rate of Paytm business loan is also comparable to some of the leading banks and NBFCs that offer business loans.
Paytm Business Loan Apply Online Process
To apply for a Paytm business loan online you need to follow these simple steps:
- Download the Paytm for Business app from the Google Play Store or the Apple App Store.
- Log in to the app using your Paytm credentials and tap on the Business Loan icon on the home screen.
- Check the loan offer available to you and tap on Apply Now.
- Fill the online application form with your personal and business details and upload a selfie and your PAN card.
- Review and accept the loan agreement and terms and conditions.
- Verify your bank account details and enter the OTP sent to your registered mobile number.
- Get an instant approval and disbursal of the loan amount to your bank account.
How to do Paytm Business Loan Repayment
To repay your Paytm business loan you need to follow these simple steps:
- Open the Paytm Business app and tap on the Business Loan icon on the home screen.
- Tap on the Repay Now button and choose the amount and mode of repayment.
- Confirm the payment and enter the OTP sent to your registered mobile number.
- Get a confirmation message and receipt of the payment.
How to check Paytm Business Loan Status
To check your Paytm business loan status you need to follow these simple steps:
- Open the Paytm for Business app and tap on the Business Loan icon on the home screen.
- Tap on the Loan Details button and view your loan status balance tenure and interest rate.
- Tap on the Repayment Schedule button and view your installment amount due date and payment status.
- Tap on the Transaction History button and view your payment history amount date and mode of payment.
Use of Paytm Business Loan Customer Care Number
If you have any queries or issues regarding your Paytm business loan you can contact the Paytm business loan customer care number at 0120-4440440. You can also email your query or complaint to businessloan@paytm.com. You can also visit the Paytm website or app and go to the Help and Support” section to get answers to your frequently asked questions.
Conclusion
Paytm business loan is a quick and easy way to finance your business without any property or paperwork. You can get a Paytm business loan of up to 10 lakh rupees at an affordable interest rate and flexible tenure.
You can repay your business loan in easy daily installments and foreclose your loan without any charges. You can apply for a Paytm business loan online using the Paytm for Business app and get an instant approval and disbursal of the loan amount.
You can also check your paytm business loan status repayment schedule and transaction history on the app. You can also contact the Paytm business loan customer care number or email for any assistance.
FAQs
Q.1 Does Paytm provide personal loan?
Yes, Paytm provides personal loan up to 5 lakh rupees through the mobile application of Paytm. Borrowers can take loan without any collateral or paperwork..
Q.2 What is Paytm business loan interest rate?
The interest rate of Paytm business loan varies depending on your loan amount, tenure, and credit score. The interest rate starts from 15% to 46% per annum. The interest rate is calculated on a reducing balance method, which means that you pay interest only on the outstanding principal amount.
Q.3 What is the business of Paytm lending?
Paytm lending is the business of providing loans to Paytm merchants through Paytm’s NBFC and bank partners. Paytm lending offers Paytm business loan, a hassle-free and paperless loan facility for Paytm merchants, who can get a loan of up to 10 lakh rupees without any collateral or paperwork. Paytm lending also offers other loan products, such as Paytm postpaid, Paytm first credit card, and Paytm gold loan.