Paytm Personal Loan Online Apply – a to z guide

• 20/08/2024
• Admin

Paytm Personal Loan Online Apply: Paytm is a financial company that provides banking facilities to users. It is mostly used for online transactions but very few people know that one can also apply for Paytm personal loan through this mobile application.

Paytm Payment Bank is a well-known NBFC company which is in partnership with companies like Fibe, Tata Capital, HeroFinCorp, Aditya Birla Capital and provides loans with their help. Paytm is approved by the Reserve Bank of India and NBFC, so it is absolutely safe to take a loan from here, so if you want to take a personal loan, then you can apply for Paytm Personal Loan.

Further in this article, we will give you complete information about Paytm Personal Loan Interest Rate, Required Documents and Paytm Personal Loan Apply Process step by step. For more information, please read this article till the end.

Paytm Personal Loan Apply Overview

How much loan can I take from Paytm Bank?

How much loan you will get from Paytm depends on your financial history, your CIBIL score and whether you have paid your previous EMI on time or not. Generally, Paytm offers a personal loan of up to Rs 5 lakh to its customers, while if you want to take a business loan then the loan amount can be higher. You get this loan for a maximum of 12 months. If you meet the criteria of this application, then you can easily apply online for Paytm Personal Loan.

Paytm Personal Loan Interest Rate

Depends on how much loan you want to take and for how long. Generally, the interest rate of Paytm Personal Loan ranges from a minimum of 3% to a maximum of 36%, plus a processing fee of 1.5%.

Eligibility to apply for Paytm Personal Loan

If you want to apply for Paytm Personal Loan then you have to follow these conditions –

• Salaried persons or self-employed individuals can apply for Paytm Personal Loan.
• Your CIBIL score must be good for Paytm Personal Loan.
• To take a Paytm loan, you must be at least 18 years of age.
• If you have been proven to be a defaulter, then you will not be able to apply for Paytm Personal Loan.
• Only Indian citizens can apply for a personal loan from Paytm Payment Bank.
• You must have at least 2 years of work experience.
• Mobile number must be linked to Aadhar card.
• You must have the required devices for online loan.
• To take a loan, your monthly salary / income should be at least ₹ 12000.
• You should have a good record of financial transactions only then you will be able to take a personal loan from Paytm Payment Bank.

Paytm Personal Loan Required Documents

To take a loan from Paytm, you will need these documents –

• Aadhaar card
• PAN card
• Aadhaar linked mobile Number
• Bank statement
• A selfie
• Salary slip

Paytm Personal Loan Online Apply Process

If you want to apply for Paytm personal loan from home, then its process is given below, by following the given steps you can easily claim personal loan online –

• First of all you have to install Paytm application from Google Play Store.
• After the app is installed, open it and sign up through your mobile number.
• After signing up, you will get the option of Add Bank Account in the Paytm dashboard. By clicking on it, you have to link your bank account to Paytm.
• After this, click on the Personal Loan section.
• Then you will find the tab “Check Your Loan Offer”, click on this tab.
• Then a new page will open in front of you, here you have to enter your PAN number, date of birth and email ID, then accept the terms and conditions and click on the option of “Proceed”.
• After this the next page will open, here you have to enter the information of occupation type, company name, monthly income of the year, pin code, where you want to use this loan, etc. and click on the Confirm button.
• Then a new page will open in front of you where your eligibility will be checked. If you are eligible then you will see a Pop Up Page of Congratulations, in this you will see the loan amount for which you will be eligible.
• After this you have to click on the option of “Get Started”.
• After this a new page will open in front of you where you have to select the EMI and tenure of the loan amount and click on Continue.
• Then you have to upload a clear selfie of yours.
• After this, to do KYC, enter the Aadhaar number and security code and click on the option of “Send OTP” and verify the OTP.
• After doing this, select your gender and submit the PIN code.
• Then a new page will open where you have to submit bank details such as account number and IFSC code.
• After doing this, the process of applying for the loan will be completed.