Want personal loan? That too instantly? Check this unique service that works 24x7, even on holidays and weekends

Are you in need of any personal loan? Want to avail the amount instantly? Here is a good news for you! Digital financial services platform Paytm has introduced Instant Personal Loans on its platform to facilitate access to credit services to the masses.

Noteworthy, the service can be availed 24X7, round the year even on public holidays and weekends.

Paytm is the technology & distribution partner for NBFCs and would help them expand the reach and adoption of loan services to salaried individuals, small business owners and professionals.  The loans would be processed and disbursed by NBFCs & banks.

This move will bring 'new to credit' customers into the ambit of the formal financial market, and will also empower individuals from small cities and towns who do not have access to traditional banking institutions, Paytm said.

Commenting on the development, Bhavesh Gupta, CEO - Paytm Lending said, "We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfil dreams and ambitions. Our aim is to become a growth enabler for India's aspiring youth and young professionals to help them become self-reliant. We will continue to innovate and digitise as many services that help in bringing 'new to credit' users into the formal economy."

Recently, the company has expanded its Paytm Postpaid service to a large set of use-cases such as payments at neighbourhood Kirana and at popular retail destinations.

Additionally, it has also been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino's, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer's among others.