Realme PaySa App Launched in India; Offers Instant Personal Loans, Mobile Screen Insurance and More

Realme today announced its first financial service platform by launching the realme PaySa app. The app comes with 4 highlight services including a free credit report, personal loans, business loans and screen insurance for mobiles.

realme PaySa will also offer some solutions like lending, savings & protections, payments, and other tools. Lending will include personal and business loans, savings & protections will have mutual funds, SIP, and life insurance. Payments solution could be realme’s entry into UPI service. Lastly, tools will include free credit reports, tax, and budgeting tools.

realme PaySa Services

Free Credit Report

The app will offer free credit report for everyone that will take less than a minute. It can be availed 3 times over a period of 3 months. The credit report will be generated in partnership with CreditMantri.

Personal Loans

The app will offer personal loans ranging from Rs. 8000 to Rs. 10 lakh in partnership with EarlySalary. Also, you will be able to get up to Rs. 1 lakh as an instant loan. These loans will offer flexible repayment cycles ranging from 3 to 12 months.

Business Loans

Business loans will also be available for micro to small businesses. It will offer loan amounts ranging from Rs 50,000 to Rs. 50 lakh rupees with up to Rs 5 lakhs as instant loans. For business loans, there will be flexible tenures from 12 to 60 months.

Screen Insurance

The last service offered by the realme Paysa is screen insurance for mobile phones. So, the service provides insurance for your smartphone’s screen in partnership with ICICI Lombard. Users can avail up to 2 claims per year.

Realme also assured that it will store all user data only in India and follow the highest IT security standards. The app will also be completely transparent while asking for permissions from the user. It will also offer customer service with a human chat service that will be available for 16 hours a day and 7 days a week.

You can download the realme PaySa Beta version app from the Google Play Store.