Paytm has digitised the entire process for loan application and disbursal with no physical documentation required.
Paytm has launched new Instant Personal Loans on its platform to facilitate access to credit services to its 1 million customers. “Paytm is the technology & distribution partner for non-banking financial companies (NBFCs) and would help them expand the reach and adoption of loan services to salaried individuals, small business owners, and professionals,” Paytm said during the launch. The loans would be processed and disbursed by NBFCs and banks.
Get loan in less than 2 minutes:
The service, which is active 24×7, for 365 days a year, allows users to get a loan in less than 2 minutes. The service can also be availed on public holidays and weekends, Paytm said during the announcement.