Paytm Business Loan - Features, Eligibility, Interest Rates & Documents Required
The Paytm Business Loan is an accessible and affordable option for entrepreneurs looking to fund their business needs. Offering loan amounts ranging up to ₹10 Lakhs, Paytm provides competitive interest rates based on your business profile and requirements. With a maximum loan tenure of 36 months and no need for collateral, this loan is ideal for business owners seeking quick, hassle-free funding.
Here are some important details of the Paytm Business Loan that you should know about:
Loan Sanction |
Up to₹10 Lakhs |
Interest Rate |
According to the borrower’s profile and business requirements |
Loan Tenure |
Up to 36 months |
Processing Fee |
2% of the principal amount + GST, as applicable |
Overdue Charges |
Applicable |
Collateral |
Not required |
Disclaimer: The Paytm Business Loan details mentioned above are subject to change at the lender’s discretion.
Paytm Loan for business comes with competitive interest rates that vary based on various factors, including the loan amount, tenure, and creditworthiness. In addition to interest rates, you may also have to pay processing fees, documentation charges, and other applicable fees. This generally varies depending on the loan scheme and your credit profile.
Paytm Business Loan offers several features and benefits, which include:
Quick and convenient online application process with minimal documentation requirements
Competitive interest rates to keep your borrowing costs and repayment affordable
Flexible repayment options with customised loan tenures
No prepayment charges on certain loan schemes, allowing you to repay the loan before the tenure without incurring any additional charges
The loan amount gets disbursed directly to your Paytm wallet or bank account for easy accessibility
The Merchant Loan from Paytm is designed specifically for merchants using the Paytm platform. Here are the key features:
Loan Amount
Merchants can secure loans of up to ₹10 Lakhs
Eligibility
Applicants must be Indian residents, at least 18 years old, and registered as Paytm merchants. A good transaction history on the Paytm platform enhances approval chances.
Collateral
No collateral is required, making it accessible for small business owners
Repayment Terms
Flexible repayment options are available, allowing for easy daily instalments
Approval Speed
Loans can be approved and disbursed within a few hours, offering quick access to funds
Usage
The funds can be utilised for various purposes such as inventory purchases, shop renovations, or operational expenses
The Business Loan offered by Paytm caters to small and medium enterprises seeking financial support for various business activities. Key aspects include:
Loan Amount
Up to ₹10 Lakhs is available based on the applicant's creditworthiness and business requirements
Eligibility Criteria
Businesses must have valid registration (like GST), a good credit history, and meet minimum turnover requirements
Collateral
These loans are typically unsecured, meaning no collateral is necessary
Repayment Period
The loan can be repaid within a flexible timeframe of up to 36 months, with daily instalment options available
Processing Fees
A processing fee of around 2% of the loan amount plus applicable GST may apply
Paytm also provides a Loan Against Property, allowing individuals or businesses to leverage their property as collateral for financing. Key features include:
Loan Amount
The amount available varies significantly based on the property's value and the borrower's financial profile
Eligibility Requirements
Borrowers must own property that can be mortgaged, and they should have a stable income source to ensure repayment capability
Collateral Requirement
As the name suggests, this loan requires the property to be pledged as security against the borrowed amount
Interest Rates and Terms
Interest rates and repayment terms may vary based on the lender's assessment of risk and property value
These loan products from Paytm aim to provide flexible financial solutions tailored to the needs of different types of businesses. This ensures quick access to funds while maintaining straightforward application processes.
Along with knowing the Paytm Business Loan documents required, understanding the eligibility is crucial. Eligibility criteria may vary depending on the specific loan scheme and your profile.
Here are the Paytm Business Loan eligibility criteria:
You must be an Indian resident and above 18 years of age
You must have a valid business registration, such as GST registration
Your business operations should be eligible for the loan
You must have a good credit history and financial track record
You must meet the minimum turnover and profitability criteria
You must be a Paytm merchant
To avail of an instant business loan from Paytm, you need to submit certain documents, which may include the following:
Business registration documents, such as GST registration, Partnership Deed, Memorandum of Association, etc
KYC documents of the borrower and co-borrower(s), including PAN card, Aadhaar card, etc.
Financial documents, such as bank statements, Income Tax returns, audited financials, etc.
Business vintage proof, such as GST returns, sales invoices, etc.
Other documents as required by Paytm, depending on the loan scheme and borrower's profile
Here are some simple steps to apply for a Paytm Business Loan:
Open the Paytm App and open the application form
Enter details like your PAN, date of birth, and e-mail ID
Check the entered details and click ‘Proceed for Offer Confirmation’
Take a selfie and upload it for digital KYC verification
Once this is done, your details will be verified by Paytm
If approved, the loan amount is directly sent to your bank account
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Yes, Paytm business loan is offered to eligible borrowers as a part of their financial services offerings. Paytm offers various types of business loan schemes with different features and benefits to cater to the diverse needs of businesses.
No, a Paytm business loan is not interest-free. Like any other loan, it comes with an interest rate levied on the loan amount. The interest rate may vary depending on the loan scheme, loan amount, and your creditworthiness.
To get a ₹5 Lakh loan from Paytm, you can follow the application process mentioned on their official website or mobile app. Ensure you meet the eligibility and submit all the required documents for a hassle-free application.
The minimum CIBIL Score requirement for an instant business loan from Paytm may vary depending on the loan scheme and the credit policies of Paytm. You can check the Paytm website or contact customer care for the specific minimum CIBIL Score requirement for the desired loan scheme.
The minimum loan amount you can avail of as a Paytm business loan may vary depending on the loan scheme. Generally, the business loan starts for an amount of ₹10,000 or even lower in some cases. This depends on the loan scheme and your creditworthiness.
The maximum loan amount you can get with a Paytm business loan may vary depending on the loan scheme and your creditworthiness. Paytm offers business loans up to ₹10 Lakhs, depending on the loan scheme, credit assessment, and other factors.
No, a Paytm business loan is typically unsecured, so you do not require collateral or security.
There are no foreclosure charges levied on a Paytm loan for business.
Customers who have completed the KYC registration with Paytm can expect to receive a loan within minutes. However, the loan disbursement process may take up to 2 days for customers who are not yet KYC-registered.
The repayment period may vary depending on the loan scheme, loan amount, and the borrower's repayment capacity. Paytm offers flexible repayment options, typically up to 36 months, depending on the loan scheme and the agreed-upon terms.