Paytm Postpaid (2023) Review – The Best Postpaid Service?

Paytm has introduced a new version of its feature payment option- Paytm Postpaid in partnership with two NBFC. Paytm is India’s leading mobile platform.

Paytm Postpaid is the feature by which we can buy something now and pay it later. Due to some problem, Paytm had closed its postpaid services, which were launched in 2019 with a partnership with ICICI Bank. We will review its features and Charges below.

Paytm has introduced three variants of its postpaid service – Lite, Delite, and Elite, which will be offered to users based on its partner-NBFC’s assessment.

Edition

Here are Edition of Postpaid Services.

(1).Postpaid Lite

Postpaid Lite Comes with limits of Up to Rs.20 000/- and convenience charges with 0 to 4%. Postpaid Lite may be given to customers with little or NO credit score. Even if you have no credit score, you can apply Paytm Postpaid Lite. Generally, CIBIL Score from 0-700 is eligible for Paytm Postpaid Lite.

(2).Postpaid Delite and Elite

Postpaid Delite and Elite comes with credit limit from Rs. 20000/- to 1, 00,000/- in monthly spends with no convenience charges.

‘Normally CIBIL Score from 700 to 900 are eligible for Paytm Postpaid Delite and Elite.

Features

Paytm is offering the postpaid service in partnership with two NBFCs. The increase in the credit limit will allow customers to make payments for high-value items like furniture and consumer electronics.

Edition	Postpaid Lite	Postpaid Delite and Elite
Credit Limit	Rs. 20000/-	Rs. 2000 to 1,00,000/-
CIBIL Score	0-700	700-900
Convenience Charges	0-4%	0%
Payment Due Date	7th of every month	7th of every month

Pro Tip: You can also access passbooks to analyze monthly spends to plan everyday expenses.

Benefits of Paytm Postpaid 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.

How to use?

Paytm Postpaid can be available to buy groceries, milk, and other home essentials from neighborhood Kirana stores and at popular retail destinations such as Reliance Fresh, Haldiram, Apollo Pharmacy Croma, Shoppers Stop, among others.

Additionally, it can be used for various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino’s, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer.

How to apply

This service is offered in partnership with two NBFCs with an instant credit line for various payments to Paytm app users. Here are details on how to apply Paytm Postpaid with a limit of Rs. 1, 00,000/-.

1. Login to Paytm Account
2. Go to the Postpaid icon in the Financial Services section.
3. Apply for Postpaid services and give all KYC details, and Paytm will tell you the Credit limit after completing their online KYC with our partner NBFC.
4. Please Refer to T & C of Paytm.-

Paytm Postpaid Eligibility criteria

The eligibility is decided by NBFC and Paytm based on your transaction history with Paytm. Paytm will check the transaction history, types of payment. When you apply for the Credit limit through the app, Paytm will check the CIBIL score. Credit limit and approval will be granted based on the above factor. Note that your age should be at least 18 years or more for geeting Paytm Postpaid.

How to make a payment

Every month, Postpaid bill will be generated on the 1st date of every months . You need to pay the bill through UPI, Debit Card, or through, on every 7th date of the month, which is the Payment date of Paytm postpaid. Paytm postpaid limit increases if you pay Bill in time regularly.

Paytm Postpaid EMI

You can also convert PAYTM POST purchases/outstanding into easy EMI, so that you can purchases the essentials without any budget constraints and pay back the amount in easy installments. Paytm postpaid EMI charges is up to 2%+ GST. So if you do shopping worth Rs.5000, then you have to pay addition Rs.118 as interest and GST Charges.

You can get more details at Paytm postpaid terms and conditions.

My Experience

I had applied credit limit through Paytm App and was granted a credit limit of Rs.56,250/- That’s means I can use these limits in any expenses like Bill pay, etc… Before you proceed with your limit approval, you need to give Credit confirmation to NFBC ( In my case Clix Finance India Private Limited).

The validity of Postpaid is only 24 months from the date of approval for Postpaid. Postpaid validity will be renewed. Payment through Postpaid is very smooth and hassle-free. The payment process is straightforward.

There is also late fee if you not due within limit ( Due date is 7th of every month). Here is the details of Late Fees.

Outstanding Amount of Unpaid is	Late Fees( Per Month)
Less than Rs.100	Rs.0.00
Between Rs.101 and Rs.250	Rs.10
Between Rs.251 and Rs.500	Rs.25
Between Rs.501 and Rs.1000	Rs.50
Between Rs.1001 and Rs.2000	Rs.100
Between Rs.2001 and Rs.5000	Rs.250
Between Rs.5001	Rs.500
The Late Fees are inclusive of applicable taxes.

How to cancel?

If you want to cancel your post-paid facility, you will need to give prior notice on the 24X7 help section of the Paytm Platform. You will need to repay all of the outstanding amount and any other amount due hereunder. There may be a Prepayment charge if you decide to pay early.

Can we pay credit card bill by Paytm Postpaid?

No, you can not pay Credit card Bill, through Postpaid services. This services can be used at Nearest Kirana stores, nearest mall such as Reliance Fresh, Haldiram, Apollo, Pharmacy, Croma, Shoppers Stop, and other stores where Paytm is accepted. We can use this service to buy groceries, milk, and other home essentials from local shops.

There are no option to pay Credit card through Pattm Wallet and Postpaid. If you have credit card outstanding and you are unbale to pay credit card bill on due date, then you can pay Credit card bill through another credit card balance that is known as Balance Transfer. Credit card balance transfer will vary from credit card provider.

How to increase Credit limit

If you’re looking for ways to increase your Paytm Postpaid limit, then you’re in luck! By regularly paying all outstanding balances on due date, you can increase your limit. This is because Paytm Postpaid limit is based on your paytm use history and CIBIL Score. So keep using Paytm Postpaid services and enjoy the benefits!

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