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It is not clear if the amount can be used to make payments using Paytm on other platforms such as Uber.

The amount sanctioned under Paytm Postpaid can only be used for purchases made on Paytm Mall, which could include paying bills or buying tickets or merchandise. However, in case of payment before the due date, other modes like net-banking or payment using Paytm wallet can also be used to repay the dues.Īt present, there is no facility to partially repay the outstanding dues or to repay the dues through equated monthly instalments. The default repayment option is auto-debit from your ICICI Bank account. Also, if you fail to repay the outstanding dues on time, your Paytm Postpaid account will be blocked till the entire due is repaid. Similarly, for amounts above ₹5,000, a of ₹600 will be applicable. After the due date, late payment charges will be applicable, in the range of ₹5-600 per month, depending on the outstanding.įor instance, if you have an outstanding of ₹1,000 and you don’t repay by the 7th of the month, you will have to pay a late payment charge of ₹100 per month, which would be 10% of the due amount. The amount needs to be repaid in full by the 7th of the billing month, meaning you can get a maximum of 37 days of credit without any interest. Paytm will generate a statement for the user on the first of every month for all transactions done using Paytm Postpaid in the previous month. Though the promotional email does not say it upfront, the service has late payment charges. At present, the credit limit being offered to users is between ₹500 and ₹6,000. While setting up your Paytm Postpaid account, you would be required to link your ICICI Bank savings bank account to Paytm Postpaid. The eligibility is decided by ICICI Bank based on your transaction history with Paytm. The loan will be given by ICICI Bank to Paytm customers using this service. It is like pre-approved and instant credit for common customers of Paytm and ICICI Bank.

However, the processes are not clear for these cases.

Though the FAQs on the Paytm website state that this facility is being given to Paytm customers who also have an ICICI Bank account, Paytm users not having an ICICI Bank account are also getting the invite.