How to take Paytm Business Loan: In this era of technology, employment opportunities are increasing day by day, now you can take a business loan to start your employment with the help of Paytm, if you want to increase your business or else If you want to take an instant business loan for your business for machines, land or any other work, then you are reading the right article.
In today’s article, we will tell you all the information related to Paytm Business Loan such as what is Paytm Business Loan, How to apply for Paytm Business Loan, How much interest rate will have to be paid, for How long this loan is available and many more. Paytm Will provide related information.
What is Paytm Business Loan
Paytm Business is a facility provided by Paytm App, under which shopkeepers, small businesses, self-employed to increase their business, or for new startups, can take a business loan.
If you are a shopkeeper and also run a small shop, then you can keep an account of your whole day in Paytm Business App like how many sales have been done in the whole day, how much was delivered, how much money was given to you by whom, And how much money will be taken from you by whom?
Apart from this, you can also set the date on which you have to take the borrowed money so that the notification can go as soon as possible till date. And you can also get money in your bank through online transaction.
Along with this, you can create a bill on Paytm and share it with anyone through the link. You can keep your entire business account digitally in Paytm Business. Paytm Business has been launched with the aim of maintaining the entire business through digital medium.
At present, you can also take a business loan through Paytm App for which you have to submit personal details, you can activate this loan by completing some tips only.
Paytm Business App does not provide direct loan rather it gives loan in association with some partnership companies like Clix Finance India Private Limited which is approved by Reserve Bank of India (RBI) and NBFCs.
How to Apply Paytm Business Loan
Let us know how you can apply for business loan through Paytm App, by following the steps mentioned below, you can easily take Paytm Business Loan. which is like this.
Step 1. Install Paytm Business App from Google Play Store.
Step 2. Sign up with your mobile number.
Step 3. Here you have to fill your personal details, occupation details like business name, address, monthly income etc.
Step 4. Select Grow Your Business in the app.
Step 5. Now click on Paytm Business Loan.
Step 6. After this you are told about the eligibility of the business loan, if you will be eligible for the loan then you will see some credit limit.
Step 7. Now here you see the loan amount, processing fee, interest rate loan submission period.
Step 8. After this you have to click on Get Started.
Step 9. Now you have to submit your PAN card number, date of birth, name.
Step 10. After filling all the details you have to tap on Proceed for offer confirmation.
Step 11. After this fill your bank details like account number, IFSC code etc.
Step 12. As soon as the loan amount is approved, it is credited to your account before 24 hours.
Note: If you have a Paytm Savings Account, then you fill it, money is transferred to Paytm Savings Account faster than other bank accounts. Before availing Paytm business loan, you must read the terms of condition interest rate.
Why Choose Paytm Business Loan
One should take a loan from Paytm Business App because it is a fast, secure, mobile application that provides you the facility of giving business loan with instant approval. One should choose this app for business loan because it is as follows.
- Loan is available without security and without paper work.
- You can apply for a loan sitting at home.
- The application form gets approved in less than 15 minutes.
- You can make the repayment anytime and there are no extra charges for the loan.
- You can pay daily installments with the help of the app.
- Available without any Hidden Charges.
- In comparison to other banks, you get instant money in Pay Team Senior Account.
- Customer support is very good.
Loan Eligibility
Following are the eligibility criteria for Paytm business, if you verify this eligibility criteria then you will get the loan immediately and there will be no problem in taking the loan. which is like this:
- The age of the person associated with the business should be between 21 years to 65 years.
- Applicant must be an Indian citizen.
- The applicant should have documents approved by the government such as Aadhar card, PAN card, address proof, etc.
- Individuals, proprietors, private limited corporations and partnership firms, etc. engaged in activities relating to trade, manufacturing, or service. Persons who have been associated with the present firm for at least three years (plus total business experience of five years).
- It is also necessary to have Paytm Current Account, Saving Account for Paytm Business Loan.
- You should also have business documents.
- It is also necessary to have a profitable business business report in the last two years.
Documents
To take a business loan from Paytm app, the following documents will be required which are as follows.
- Pan card
- Documents for KYC (Identity Proof, Address Proof, Birth Proof)
- Bank statement (last 6 months)
- Office address proof
- Proof of business continuity
How Much Can I take Paytm Business Loan
You can take a PAYTM Business Loan as low as ₹10,000 and maximum up to ₹2,00,000 and this loan can be taken without any security and minimum documents.
If your credit score is not good then this loan can also be rejected.
Loan Submission Deadline
You can take Paytm Business Loan for other tasks like starting your business, growing business etc. You can take this loan for a maximum period of 270 days.
You can pay it through Paytm App. And you can also pay the loan together or you will be able to pay in monthly installments also.
How Much will the Interest Rate Be
If you are thinking of taking a business loan from Paytm, then this question must have come in your mind that after all, how much interest rate will we have to pay, friends, for your information, let me tell you that the interest rate for Paytm business loan depends on the loan amount.
Here you may have to pay interest rate minimum 15% and maximum 40% and have to pay 3% as processing fee.
Fees And Charges
There are some fees and charges that you have to pay for Paytm Business Loans which are as follows:
| Interest Rate | According to the Applicant Profile |
| Min Loan Account | Rs.10,000 |
| Max Loan Amount | Rs.2Lakh |
| Repayment Tenure | Up to 180 days |
| Collateral | Not required |
| Processing fee | 2% of the loan amount + GST |
| Loan Type | Working capital |
Example: Let us understand it with an example
If you take a loan of ₹ 50,000 from Paytm Business App for 270 days, then you will get a total loan amount of ₹ 48,230, here you have to pay ₹ 1770.
In which 3% processing fee and GST fee is included, apart from this Daily Installment Charge ₹ 218 will have to be paid, here your monthly EMI will be ₹ 9,019 per month.
You will have to pay ₹59,019 of the total loan amount.
| Loan Amount | ₹50,000 |
| Period of time | 270 days |
| Processing fee | ₹1770 Processing Fee, GST Fee |
| Daily Installment Charge | ₹218 |
| Monthly EMI | ₹9019 per month |
| Total payment amount | ₹59,019 Loan Amount |
Who Can Apply for the Loan
PAYTM Business Loans can be taken by every person in India, who is above 23 years of age and is employed in any work, apart from this the monthly income should be more than ₹ 25000.
Self-employed, salaried persons, small shopkeepers, small businessmen, doctors, architects, professors etc. can take this loan. For this, it is also necessary to have eligibility, documents.
Where to Use Loan
You can take Paytm Business Loans for other tasks like starting your business, growing business etc. Apart from this, you can use this loan to repay someone’s loan, meet personal needs, meet daily expenses, bill recharge, pay electricity bill etc.
You will be able to use this loan on more than 1,00,000 websites like Amazon, Flipkart.
Paytm Customer Support Number / Customer Care Number
If you face any kind of problem then you can get solution of your problem by talking to customer care of Paytm app. It provides you 24 hours customer service.
Customer care: 0120-4440440
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Here we have told you the process about Paytm business loan like how to apply for Paytm loan, how much processing fee has to be paid for the loan and we have also told you what documents you need to apply for the loan.
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