Paytm Announces Partnership With Piramal Finance to Offer Loans. Here’s How You Can Avail

New Delhi: Paytm on Wednesday announced partnership with Piramal Capital & Housing Finance to offer merchant loans to small cities and towns across the country.

Piramal Capital & Housing Finance is a subsidiary of Piramal Enterprises Limited. With this partnership, merchants will be able to avail loans of up to Rs 10 lakh with a tenure of 6-24 months. On the other hand, Paytm said the personal loans would soon be included in the partnership between the company and Piramal Finance. "Paytm has acquired a large number of merchants from big and small cities across the country, amassing a large base which Piramal Finance plans to leverage and bring ease of credit to small business owners through data-driven underwriting along with credit sanctions based on business income. Additionally, this partnership will be expanded soon to include personal loans, where Piramal Finance brings its deep understanding of risk and customer segment," One 97 Communications which owns the brand Paytm said in a statement. With over 309 active branches, Piramal Finance is on an expansion drive and is targeting a presence in 1000 towns and cities. Moreover, Piramal Finance is also working towards converting all erstwhile DHFL branches into multi-product branches. Piramal Finance had acquired DHFL last year. Talking about partnership with Piramal Finance, Bhavesh Gupta, CEO of Lending and Head of payments at Paytm, said, "We continue to see rapid growth across all our lending products, where we empower MSMEs from smaller cities and towns with access to digital credit. The success and scale of our lending products gives us the confidence to expand and further boost our credit offerings. Our partnership with Piramal Finance is another step in that direction, where we will together bring more merchants into the formal credit economy."
Here's how to avail loans on Paytm?
Click on the "Business Loan" icon on the Paytm for Business App home screen and enter the desired loan amountCheck details like loan amount, amount to be disbursed, total payable, daily installment, tenure & moreConfirm details and click on the check box and tap on 'Get Started' to process.Merchants can give consent to give KYC details from the CKYC to complete the loan application process quicklyOn the next screen, confirm personal details - PAN, date of birth, email address.After this, credit score will be checked for loan eligibility and KYC details will be verified. One the application is verified successfully, the loan amount will be disbursed instantly in the selected bank account of the merchant.