Paytm is in full swing to act as a stack financial player currently. After introducing the Paytm Gold, Paytm further introduces prepaid wallets and the most recent being the introduction of lending money through the Paytm postpaid. Therefore, if you are a Paytm customer, you now have been granted the access to an instant interest-free and short-term digital credit by the Indian multinational bank that is ICICI Bank. Paytm has recently launched the Paytm-ICICI Bank Postpaid in which, Paytm will be seen entering the lending domain with zero interest amount. This is a great news for all the Paytm users out there.
Paytm To Become Lender After Joining Hands With ICICI Bank
Paytm has emerged as one of the largest digital wallets of the country which is being used by a huge chunk of the crowd to carry out cashless transactions and promote digitization in various aspects. Adding to the benefits of using Paytm, a recent move has acted as another feather to the cap. Paytm has collaborated with ICICI Bank which is an already established lender in the private sector and is, therefore, offering a sum of Rs. 20,000 in the name of interest-free credit to its customers.
This is the first time, anything of such sort has taken place where the customers can use for everyday needs ranging in between movies, flights, white goods as well as bill payments. The amount which will be lended will be interest-free for a period of 45 days and an interest of 3% will be levied thereafter. This offer is currently available for the customers of ICICI Bank who make use of the Paytm application but will be made available to the non-ICICI Bank customers as well after a short while. The Patym-ICICI Bank Postpaid also will be seen offering a quick checkout to the customers with the help of a Paytm passcode.
How Does This Offer Work
The newly launched offer by the Paytm and ICICI Bank collaboration is actually a digital credit account which comes with instant activation. The whole process is online and involves no hassles of documentation work or frequent branch visits.
There is no hidden fee in the Paytm-ICICI Bank collaboration as well. After the credit amount is availed by the customers, a bill will be generated on the first day of the succeeding month and has to be paid by the 15th of that month using the Paytm Wallet, Debit Card or internet banking.
Source: Your Story