Paytm launches low-cost Postpaid Mini instant loans to help users manage their monthly expenses

Paytm this week announced the launch of Postpaid Mini, a needs-based and consumption-based credit for users to help them manage their household finances.

Paytm this week announced the launch of Postpaid mini, a loan based on users’ needs and consumption to help them manage their household finances. This product is an extension of its Buy Now, Pay Later service for users who do not have a credit score. “The idea behind launching this product is to give more people an opportunity to experience credit with smaller loan sizes and learn fiscal discipline,” said Bhavesh Gupta. , CEO of Paytm Lending, to Financial Express Online.

He added, “Through postpaid, we are also sincerely trying to help stimulate consumption in the economy. Our new Postpaid Mini service helps users manage their cash flow by settling bills or payments on time. Postpaid Mini will offer loans ranging from Rs 250 to Rs 1000 to users to pay their monthly expenses, including mobile and DTH recharges, reservation of gas cylinders, electricity and water bills, among others.

With Postpaid Mini, users will be required to repay the loan within 30 days at 0% interest. Although there are no annual fees or activation fees, there are convenience fees for each transaction. The company earlier launched Paytm Postpaid instant credit of up to Rs 60,000. This service was launched in partnership with Aditya Birla Finance as a lending partner. Through Paytm Postpaid, users can pay at online and offline merchant stores in over 550 cities in India.

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