Realme PaySa launched; offers instant loans of up to ₹5 lakh

Realme has today launched two new products in India — Realme X2 and Realme Buds Air. However, the company also made another major announcement with which the brand forayed into the financial service in India.

The company has announced Realme PaySa and the application is now available in Beta version starting from today. Realme says that this app will be a one-stop solution for financial needs and adds that it also comes with lending service.

Realme-Paysa

Realme has revealed that the company will be providing instant loans to individual and Small & Medium Enterprises (SME). For individuals, one can take loans ranging from ₹8,000 to ₹1,00,000 through the app and it comes with flexible repayments from 3 months to 12 months.

The loan service is partnered with EarlySalary. For a business loan, the company will offer from ₹50,000 to ₹5 lakhs instantly and repayments can be made within 12 to 60 months. Business loans are covered at 90 percent pin codes.

Realme-Paysa-Services

It also offers screen insurance for old and new smartphones. With the new application, users can also make payments. The company has revealed that all the data is stored in India with transparent permission and more.

Users of Realme PaySa will also have option to save money by investing in digital gold, mutual funds, life insurance and more. The users can also get a free credit report and the company says that it will provide updated credit report for free for 3 months, which is made in partnership with CreditMantri.