Paytm Money is going to offer a loan scheme for the customers soon. According to a news report published in Money Control, in this scheme, the company will give loans by pledging shares and mutual funds. Paytm Money CEO Varun Sridhar has reported this.
People interested in trading in the stock market can now invest in the stock market through Paytm Money. Paytm Money recently announced this. Currently, the company has introduced this feature through a limited version through a limited subscriber. This means that now you can open your Demat account on Paytm Money and invest.
According to Paytm Money, the company will charge you a fee of Rs 10 for intraday trading. The company has completely KYC process for opening accounts. Paytm Money has said that the stock trading option will be launched in a phased manner. Paytm Money's rival Kuvera introduced a loan scheme in lieu of mutual funds in June, while players like Groww are still studying the opportunity. According to information available on Kuvera's portal, an interest rate of 10.5% is charged in addition to the fees of 1,999 for such a loan. The loan amount is 1% of the mutual fund investment.
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