In case you have PayTM Postpaid active, and you want to close it, you can follow this guide:
Know your PayTM Postpaid Service Provider:
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.
How to Permanently Close PayTM Postpaid?
Contact PayTM Postpaid Support:
The best way to contact PayTM support is by Messaging them on Twitter. You will get a quick response.
Not sure what to write? Use our BNPL Permanent Closure with NOC Email Template. Please note that you can only access this link if you are LOGGED IN to our Forum. Else you’ll see Page Not Found Error.
You can also do it from inside PayTM App.
Open PayTM App > Profile (top left) > 24x7 Help and Support > Choose a Service to Begin > PayTM Postpaid > Chat with us (bottom) > Issue with PayTM Postpaid Account Status > Deactivate Postpaid Account > Choose any Reason.
That’s it. Your PayTM Postpaid Account will be closed.
Contact Clix Finance India Pvt. Ltd:
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.
Contact Aditya Birla Finance Ltd:
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).
Contact RBI Ombudsman:
In case your Account closure request is not honored or you do not receive NOC even after requesting for the same, you can reach out to RBI Ombudsman for Grivance Redressal. Refer to my post: GUIDE: How to reach out RBI Ombudsman for Grievance Redressal?
Important Things to Remember:
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.
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