On Monday Financial services platform Paytm has announced the launch of Postpaid Mini loans, an extension of its Buy Now, Pay Later service protocol, with driving affordability amongst those new to credit balance system. The small ticket will provide instant loans with flexibility to its users and will also help to manage their household expenses and to maintain the liquidity balance during the ongoing pandemic. This service has been launched in collaboration with Aditya Birla Finance Ltd.
With the launch of Postpaid Mini loans, the company will now offer access to loans starting from Rs.250 to Rs.1,000, with addition to Paytm Postpaid’s instant credit ranging till ₹60,000. This will also help users to pay for their monthly expenses such as, mobile & DTH recharges, gas cylinder booking, electricity & water bills, shop on Paytm Mall.
With this service, Paytm Postpaid is giving a period of 30-days of repayment of loans with 0% interest. There will be no annual fees or activation charges been applied, it will only charge a convenience fee.
The CEO of Paytm Lending Mr. Bhavesh Gupta said, “We want to help new-to-credit citizens start their credit journey and develop a financial discipline. Through Postpaid we are also making sincere attempts to help drive consumption in the economy.”
He added, “Our new Postpaid Mini service helps users manage their liquidity by clearing their bills or payments on time.”
