Personal Loan Rejected on Paytm: You appear to be a good applicant for a personal loan or Pay Later credit if your credit score is 650. However, I got a rejection today from the lender on the Paytm App for a Rs. 56,000 personal loan on 750 credit.
We are aware that Lender offers loans, while Paytm only offers loan facilities. Therefore, it is now preferred to find another way rather than arguing with the lender because applying for a loan through Paytm is a waste of time.
After the strict action of RBI, Paytm lost 60% of its customers but today shopkeepers and business owners are again using Paytm to receive payments through QR Code and PG Gateway.
Let us know that if your CIBIL score is higher than 750 and your Paytm personal loan has been rejected, you are able to get a personal loan in this way.
Sorry, we cannot proceed with your application
When I was being given a pre-approved loan from Paytm, I accepted it and at the end Paytm took information from me and asked me to try after 90 days.
I am still surprised because Paytm itself gives me a pre-approved loan and later it is rejected by the lender.
I’ll first go over the simple ways to get a personal loan, and then I’ll explain how I succeeded in getting a personal loan of Rs 56,000 from Paytm even after being rejected.
Even if your Cibil Score is good, if you are not able to get a personal loan from a third-party application like Paytm, then the simple solution is to go to the nearest bank branch and apply for the loan offline. This is considered the best and easiest method, in this the loan is given with some documents.
How i got Paytm Personal Loan After Rejected
Whether it’s Paytm or any other large company, you have to take out a loan when you need money right away. Then, after putting in a lot of effort to get approved, I used Paytm to get a personal loan. Here, I took easy steps,
- First of all asked my cousin to check credit score in Paytm app.
- In this, upon checking his CIBIL score was 729.
- With this score I said to apply Paytm Personal Loan.
- By grace he was offered a loan of Rs 58,000 on paytm.
- I asked him to process the loan and transfer the loan amount to the bank.
- After that he transferred the loan money to the bank and sent it to me.
This is how I got personal loan from Paytm, and I am now repaying all of its EMIs on time.