6 Things Before Getting a Paytm Personal Loan

Paytm Personal Loan: Nowadays, Paytm is attracting users with a wide range of financial services. Most recently, Paytm decided to offer Personal Loans to the majority of its users who have 750 credit scores and minimal documents. In this article, We will go over the key points before applying for a Paytm personal loan details.

paytm personal loan details in black mobile phone in hand
6 Things Before Getting a Paytm Personal Loan Details

Why Choose a Personal Loan

We often borrow money from someone for our personal needs. Many people feel awkward to ask for money. In that case, they choose Personal Loan. The purpose of this loan is to directly deposit the loan amount in your account for some period and interest rate.

As a result, the Personal Loan popularity is growing these days. People are now using different financing options instead of using Pay Later, which was a feature of Paytm Postpaid in earlier times.

Eligibility For Paytm Personal Loan

According to the reports, some people got pre-approved loans up to Rs 50,000 only after 700 credit score, while those with 750-800 scores are given loans of more than 1 lakh. If your credit score has also reached 750, then you are also eligible for Personal Loan.

  • User Must have Basic KYC Done,
  • Credit Score Should be 700 or above,
  • Must have PAN Card with Adhaar Link

Apart from this, there are no special eligibility criteria to take Paytm Personal Loan, any excessive documents or any income payment proof. So before we take off to know the right way to take a Personal Loan from Paytm, Let’s discuss the important things to remember before transferring the loan amount to your bank.

I’ll start by sharing my experiences along with learnings in order to make this article easier to understand.

I’ve been using Paytm for finances for a long time. On November 3, 2023, while I was paying my Paytm Postpaid bill, I saw an offer for a Paytm Personal Loan. But I also need money. I immediately clicked on it, And It redirected me to the pre-approved loan amount of Rs.56,000.

paytm personal loan with interest rate screen
Photo Source from Paytm App

However, I didn’t know much about it, so instead of accepting it, I began my research, which I will share with you today as to why you should know everything before taking a personal loan.

Things to Keep in Mind Before Taking Paytm Personal Loan

Some important things should be kept in mind before taking a personal loan from Paytm, such as

  • Calculate the loan interest rates, processing fees, and other charges.
  • Determine how much loan you require by accurately assessing your monthly income and expenses.
  • Always think about the loan tenure and what loan plan would suit you.
  • Use it only in necessary needs, unless you are not sure, ask anyone to borrow money.
  • Make Sure to have a source of income to repay on time.
  • Along with Paytm, also look at other options available in the market.

Paytm Personal Loan Interest rate

The interest rate of any loan amount depends on your credit score, loan amount, tenure and income. Generally, the interest rate of Paytm Personal Loan ranges between 10% to 24%.

If you are taking a loan for the first time, then Paytm Personal Loan can charge a higher interest rate up to a maximum of 35%.

How to apply for Paytm Personal Loan?

paytm app loan and credit cards services
Photo Source from Paytm App

Open Paytm App

Scroll down and Click on Personal Loan,

Enter your Full name, PAN Number and email ID.

If your credit score and profile are good, then the loan amount will be made available to you, and you can accept and transfer it to the bank.

What are the benefits?

Some benefits of Paytm Personal Loan are:

  • Don’t need to give any collateral or security.
  • Minimal paperwork or documentation.
  • Your loan approval and disbursal take only a few hours.
  • You can pay your loan EMI directly from your Paytm wallet or UPI.
  • You can check the status and details of your loan on the Paytm app.

KYC For Digital Loans

KYC is required when applying for a loan, regardless of whether it’s a business or personal loan through Paytm. In order to complete KYC, you must provide a selfie using your profile photo and your PAN card number using the document. When you have a high credit score, Paytm can quickly get you a loan.


Paytm Personal Loan offers loans ranging from Rs.10,000 up to 3 lakh, but this amount may be subject to high interest and processing fees, so understand your situation before taking out any loan. In this article, we learned about the things to consider before applying for a personal loan from Paytm, as well as how to apply for a personal loan with Paytm App.

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