In case you have PayTM Postpaid active, and you want to close it, you can follow this guide:
PayTM is offered by one of the following 2 Financial Service Providers:
- PayTM Postpaid Lite: Clix Finance India Pvt. Ltd.
- PayTM Postpaid Delite: Aditya Birla Finance Ltd.
To know which of these lenders are providing the PayTM Postpaid, you can check your PayTM Postpaid Dashboard from inside PayTM App. If you see ‘PayTM Postpaid Lite’, it will be Clix Finance, if you see ‘PayTM Postpaid Delite’, it will be Aditya Birla Finance Ltd.
You can also inspect your CIBIL report to confirm it.
You may also check out list of loan/pay later accounts on your CIBIL.
To cancel your PayTM Postpaid Account, you have to contact PayTM Support, or your financial lender directly.
Visit the ‘PayTM Postpaid’ section and contact support from there. You will find a ‘Chat with us’ option over there. Use that to chat with them and raise a ticket to permanently close PayTM Postpaid.
Email: hello [at] clix.capital.
Furthermore, you can also check out Clix Finance Grievance Redressal Page, you will find their emails for Level 1, 2, and 3.
Email: care [dot] finance [at] adityabirlacapital [dot] com.
You can also visit the Aditya Birla Customer Support page to find their toll-free contact number (on the top right of their website).
Before you go ahead with closing your PayTM Postpaid Account, you should remember the following things:
- Double check if all your pending dues are cleared. Else it won’t be closed.
- You will get a NOC from your lending provider that your PayTM Postpaid is closed with no dues left. Ask for it if you don’t receive it within 2-3 weeks of requesting account closure.
- Sometimes (not every time), you may notice a slight decrease in your credit score after closing your account. Don’t worry, it is a temporary thing.
- It might take 2-3 months for the ‘closure’ to reflect on your CIBIL profile, so, don’t be scared if you find your PayTM Postpaid Loan ‘active’ on your CIBIL.
- Even after your PayTM Postpaid is closed, it will continue to display on your CIBIL as a ‘closed’ account, for a few years. It is just for record-keeping purposes (so that your future lenders know which credits you had opted for previously).
- Even if you don’t use it, there is absolutely no harm in keeping your PayTM Postpaid account as it is. It helps to keep a healthy mix of ‘Credit Card’ and ‘Loan’ accounts on your Credit Profile.
- If you do not own any credit cards till now, and have been offered PayTM Postpaid, consider keeping it active, since this is your first credit line. The age of a credit line has a high impact on your credit score. This might help you get a credit card or loan in the future when you need it.