How to repay loan EMI using Paytm: A step-by-step guide
What's the story
Paytm, one of the leading digital payment platforms in India, has made loan EMI repayment easier than ever for its users.
The platform's intuitive interface makes it easy to manage loan EMIs, and even provides an option to set up automatic payments. This way, you'll never miss a due date for your loan repayments.
Let's see how to pay EMI for your loan using Paytm.
Process
Look at the steps for payment
To repay a loan EMI on Paytm, users first have to log in or create a Paytm account.
Once logged in, they should head over to 'Recharge & Pay Bills,' and click on 'Pay Loan' under financial services.
They can also search for 'Pay Loan' using the search bar offered by the platform.
Information input
Entering loan details and selecting payment mode
After choosing the 'Pay Loan' option, users have to select their 'Lender' and 'Loan Payment Mode.' They then have to enter their loan account number and other required details. Paytm also offers list of promocodes which users can select and apply before making the payment.
Payment confirmation
Finalizing payment and receiving confirmation
The last step is for users to select the bank account they want to use to make the payment. After checking all the details, they can confirm the payment.
Once the transaction is successful, a confirmation is sent to their registered email and phone number.
Any applicable cashback is credited within 24 hours of successful transaction completion.