Paytm, India’s leading online payments solution, has equipped its lattice with another service. Now, it will also offer personal loans to its users, a facility which the company will be rolling out in the next three months.
While spilling the beans to one of the dailies, Krishna Hegde, VP (Business), Paytm stated that while small-ticket loans in the Rs 5,000-10,000 range will be approved in 30 minutes, the bigger sized loans of about Rs 2 lakh would take a day or two for disbursal.
The company had already revealed that it is on the verge of making its own payments bank business. Meanwhile, for the personal loan service, it has joined hands with 10 banks who will issue these loans.