Paytm launches small-ticket instant loans Postpaid Mini to help users manage monthly expenses

According to a source, Paytm present has nary Chinese nationalist connected its board. US national Douglas Feagin has joined the Paytm committee connected behalf of Ant Group.

Paytm this week, announced the motorboat of Postpaid Mini, a need-based and consumption-based recognition for users to assistance them negociate their household finances. This merchandise is an hold of its Buy Now, Pay Later work targeted astatine users who don’t person a recognition score. “The thought down launching this merchandise is to springiness an accidental to a wider conception of radical to acquisition recognition with smaller summons size loans and larn fiscal discipline,” Bhavesh Gupta, CEO, Paytm Lending told Financial Express Online.

He added, “Through Postpaid we are besides making sincere attempts to assistance thrust depletion successful the economy. Our caller Postpaid Mini work helps users negociate their liquidity by clearing their bills oregon payments connected time.” Postpaid Mini volition connection loans ranging from Rs 250 to Rs 1000 to users to wage their monthly expenses, including mobile & DTH recharges, state cylinder booking, energy & h2o bills, amongst others.

With Postpaid Mini, users volition person to repay the indebtedness successful a play of 30-days astatine 0% interest. While determination is nary yearly fees oregon activation charges, determination is simply a convenience interest for each transaction. The steadfast has earlier launched Paytm Postpaid’s instant recognition of up to Rs 60,000. This work has been launched successful concern with Aditya Birla Finance arsenic a lending partner. Through Paytm Postpaid, users tin wage astatine online and offline merchant stores successful implicit 550 cities successful India.