Paytm Postpaid - Get Up to Rs. 10,000 Instant Credit In your Paytm Account

Use Paytm Postpaid for mobile recharge, bill payment, shopping and more. Paytm Postpaid offers credit limit of up to Rs. 10,000. Activate your Paytm postpaid account and start using the service.

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  • UPDATED ON: 1 Aug 2019

Update: The Paytm postpaid account of some users is on hold, if you are also facing the issue you need to provide basic details and PAN number to re-activate your postpaid account.

Paytm has introduced a new feature for its users through which you can get the instant credit in your Paytm account. To get this credit, you do not need any kind of documentation or you do not have to pay any kind of fees to get this feature activated for your account

You just have to apply through the panel to fill up all the information that has been asked on that panel and submit the form. Once you complete the form this postpaid feature will be activated in your account after some time and you will get the credit amount in your wallet. So, let's take a detailed ride about this feature and know some more exciting things about it.

Note: Paytm has launched "First Credit Card" in partneship with Citi Bank. Check how to apply for Paytm Credit card, membership fee, and offers.

What Is Paytm Postpaid?

Paytm has launched a new feature in partnership with ICICI bank named "Paytm Postpaid". In this new service from Paytm, you can get Rs. 10,000 as your credit balance in your Paytm account. You can use this amount for shopping on other online websites which have Paytm as their payment option.

This service is similar to other credit services that are provided by banks. Here, you will get Rs.10,000 in your Paytm account that you can use for online shopping without having the actual bank balance. You can pay the amount that you have spent in next month without any interest rate. The bill will be sent to on the 1st day of the month and you have 7 days to pay the bill.

Eligibility To Activate Paytm Postpaid Services

Every Paytm customer is eligible to activate this feature to his/her account but right now people who have ICICI bank account with activated Paytm account can activate this feature. In near feature Paytm will provide this credit feature with other banks as well.

Now, another question that will come to your mind is what is the benefit of this credit balance from Paytm? When we can get more credit amount with the help of credit cards.

Benefits Of Paytm Credit Over Credit Cards

  • No Document is required

  • 0% Interest Rate.

  • You will get better Rewards.

  • Exclusive offers for Paytm Postpaid users on movies, bill payments and more

Requirements To Open Paytm Postpaid Service

  • Paytm Account which is Aadhar verified.

  • Bank account linked with same Paytm Number.

How To Activate Postpaid Service In Paytm Account

  • Fill that form and click on the next button.

  • Now, an OTP will be sent to your mobile number that is registered to your bank account.

  • Enter that OTP, click on both the checkbox and press accept button.

  • Once You are done a message will appear on your screen that your postpaid service will be activated within a few hours.

  • Yepee! you have successfully activated your Postpaid services from Paytm.

Terms And Conditions For Paytm Postpaid services

As I have mentioned earlier that you do not require any document to activate the postpaid feature in your Paytm account, but there are some terms and conditions that you should know before you start using Postpaid service.

1. Joining Fees:-There are no joining fees, annual fees, and supplementary Paytm Postpaid fees powered by ICICI bank fees with ICICI bank pay later facility. But ICICI Bank reserves the right to apply such charges in future in Relation to Paytm Postpaid Feature.

2. Usage: -You can use ICICI Pay later facility only for INR dominated purchases and on selected merchants, where Paytm Postpaid service is available right now.

3. Cash withdrawal facility against ICICI Pay later facility is not available right now.

4. Late Payment Charges: You can Pay Your Instant credit bill within 7th of next month, but after that, you have to pay Rs. 50+ Applicable taxes for the amount.

NOTE- GST will be applicable on the amount instead of Service Tax. GST will be applicable time to time, the current GST rate for the banking sector is 18%.

5. Default Interest:-If your due amount is not paid by the payment due date then default interest rate will be charged on the total due amount. This default interest will be charged from the due date to time the outstanding balance is paid in full.

6. Billing And Payment:-You can pay Your bills on different online shopping portals, where Paytm is an option for payment. Through Paytm Postpaid you can pay your Mobile bills, electricity bills and you can also shop from different online shopping portals which are in partnership with Paytm.

  • Billing Statements- Customers will get the billing statements on a monthly basis. The account statement will be available on Paytm and the same Billing statement will be sent by email to the customer(if you have updated your email on Paytm). If in case there is zero transaction for one month and there is no outstanding balance, in that case, the statement might not be generated.

  • Due Amount Charges- Once the customer got the billing statement, he has to pay the outstanding amount within due date otherwise the default interest rate will be applied to the total outstanding amount.

If you do not pay the balance on time, then it might be possible that ICICI Bank block your account on a temporary basis or suspend your Pay later facility.

7. Transaction Limit:-The transaction limit will be communicated to you at the time of sanctioning the pay later facility of Paytm Powered by Icici bank. You will also be able to check the transaction limit on your account statement as well, it will be indicated there as well.

How to Check The Available Transaction limit?

You can check your available transaction limit by deducting the utilized limit from the given transaction limit.

Available Transaction Limit= Total Transaction Limit- Utilized Transaction Limit

NOTE- Customers will be able to apply for revising/enhancing the transaction limit but after the completion of 12 Months.ICICI bank will be solely responsible for revising/enhancing and changing the transaction limit

Why You Need Paytm Postpaid Credit Feature

  • You will get the instant credit in your account.

  • 0% interest rate.

  • You will Save extra by using Paytm coupons and offers.

  • Better rewards than normal credit cards.

  • Better Online Shopping experience.

  • Fast payment method.

What if you forget to pay for your Paytm postpaid bill?

Paytm will remind you on 1st of every month asking you to pay the bill back. Somehow, if you miss the deadline, you will not be able to transact on Paytm using Paytm postpaid. But, you can still pay the bill amount back to activate your account again. But you have to pay for late payment fees that will be included in the next bill cycle. The late fee may go up to Rs.600 if the due amount is more than Rs.5,000.

Paytm Postpaid Late Fee

If you fail to pay the amount by the due date a late fee will be levied on the amount. The late fee can go up to Rs.600. Look at the table given below which showcases the due amount along with the late fee amount.

Due amount

Late fee/month in Rupee

Up to Rs. 100

0

Rs. 101 to 250

10

251 to 500

25

501 to 1000

50

1001 to 2000

100

2001 to 5000

250

More than 5000

500

Is Paytm postpaid safe to use?

Absolutely yes, your Paytm Postpaid account will be linked with your Paytm account. You would verify every transaction with a 4 digit passcode that you would have set during the application. There are two layers of security for every transaction you do use Paytm postpaid. Moreover, below given are steps to set a passcode on your Paytm Postpaid:

  • Login to Paytm app

  • Go to security and settings under the profile

  • Click on set passcode/ change passcode icon

  • Set your passcode

How does the user’s credit limit get decided?

Well, the user’s credit limit gets decided by on their transaction history on Paytm. The credit card limit is directly based on your usage of Paytm Postpaid. If you want to increase your Paytm Postpaid limit then, there is only one way to do so and i.e. shop more on Paytm. Thus, more you shop on Paytm the more easier will be to increase Paytm postpaid limit.

Conclusion

Paytm Postpaid is an initiative taken by Paytm in partnership with ICICI. No extra money will be charged to active the Paytm Postpaid and even you don’t have to perform any documentation formality for the activation. Once the account gets activated the amount of Rs.6000 will be credited into your account. You can use the Paytm postpaid for mobile & DTH recharges, travel bookings, movie tickets, and online shopping.

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