Paytm recently announced a tie-up with Piramal Capital & Housing Finance, a subsidiary of Piramal Enterprises Limited, to offer loans to merchants across the country. The partnership lets merchants avail of loans of up to ₹10 lakh over a tenure of 6-24 months.
Here is a stepwise guide to avail loan on the Paytm app
- On the Paytm app, click on the "Business Loan" icon on the Business App home screen and enter the desired loan amount.
- Check the details of the loan amount, amount to be disbursed, total payable, daily installment, and tenure.
- Click on the check box and tap on 'Get Started' to process.
- Merchants can opt for KYC details from the ‘CKYC’ option to complete the process.
- When redirected to the next screen, confirm personal details such as PAN, date of birth and email address.
- For the next step, your credit score and KYC will be reviewed for eligibility.
- As soon as the application is verified successfully, the loan amount will be disbursed instantly.