FAQs For Personal Loan
  • How can I reach Personal Loan customer support?
    You can connect with us via the "Help" section in your personal loan application or passbook. You can also reach out to us via Paytm app's central help & support section -
    Help & Support -> Credit Score & Loans -> Personal Loans
  • How can I apply?
    We are enabling more and more active Paytm customers to avail Quick and easy Personal Loan through Paytm! You can check your loan eligibility by searching for "Personal Loan" on Paytm APP and clicking on the Personal Loan icon.

    You must be between 23-60 years of age to be eligible for the loan.
  • What are Details required to apply for personal loan? Is it simple?
    Yes, it's simple and application can be completed while sipping Coffee!
    1. Start with your KYC and Occupation Details
    2. Select Bank Account for Loan Disbursal and EMI Repayment Setup
  • Who are the lenders offering loans through Paytm?
    Paytm (One97 Communications Ltd) partners with various lenders to offer loan services to it's customers. The lender that is approving the Personal Loan offer is shown on the application screens, Loan Agreement as well as in the Loan documents clearly.
    The Credit Information companies such as CIBIL, Experian will also show the Personal Loan with the same lender name.
    You would receive the T&C document on your registered email address post activation of your Personal Loan account. The T&C document mentions the contact details of the lender.
    Alternatively, you can find the detailed contact information of our registered lenders below -

    Name – Hero FinCorp Limited
    Website – https://www.herofincorp.com/
    GRO Officer name – Rajib Sen
    Phone – 18001024145
    Email – [email protected]

    Name –Aditya Birla Finance Limited
    Website – https://www.adityabirla.com/businesses/companies/aditya-birla-capital-abcl/aditya-birla-finance-limited
    GRO Officer name – Shruti Saraf
    Phone – 18002707000
    Email – [email protected]

    Name –
    Website – https://www.tatacapital.com
    GRO Officer name – Francyna Dias
    Phone – 1860-267-6060
    Email – [email protected]

  • How is my KYC conducted for Loan through Paytm?
    KYC is completed through the below steps
    1. Identifying CKYC ID basis PAN, and then downloading the KYC Data from Central KYC Registry (CKYCR).
    2. Via Paperless Offline Aadhaar XML
    You may also be asked to take a selfie during the loan application and other digital checks are performed to ascertain the correctness of your identity.
    The overall KYC process requires zero documentation and can be finished within few minutes.
  • How much interest will be charged?
    Interest rate along with applicable EMIs is shown to you during the loan application before availing the Loan.
  • Where will Paytm transfer my loan amount?
    Your loan would be transferred to your preferred Bank Account that you select during the loan application. The EMI repayment Enach needs to be set up from the same Bank account and will also be deducted from the same Bank Account once loan is active. In case you are unable to set up the enach from your preferred Bank account due to some issue like internet down time, you may try after some time or choose an alternate bank account
  • What are the fees? Why should I pay them? Are there hidden fees?
    Standard charges that are applicable are as follows
    1. Processing Fee + GST
    2. Late Payment Fee - Only in cases of delayed EMI payments
    3. Bounce Charges - Only in cases of EMI instalment auto-debit bounce from linked Bank Account
    Amount received in your bank account is after Processing Fee deduction and GST Invoice for the same will be sent on your preferred e-mail ID.
    All the Charges and Fees are shown clearly in the Loan Agreement
  • What happens if I don't pay back OR miss EMI repayments on the Loan ?
    We strongly urge customers to avoid missing their instalment payments.
    1. Paytm, on behalf of Lender, will remind you through multiple channels to make your instalment payment immediately if you have missed. A legal re-course may also be taken.
    2. You will be charged additional interest for Non-payment as per the Loan agreement, which will increase your Loan balance. Till you pay the additional balance, your loan will not be considered closed, and will lower your Credit Score.
    3. Paytm may consider to not provide additional loan offers in future.
    4. Credit Score such as CIBIL, Experian will also reduce which will create difficulty for banks to give you even Credit Card or 2-Wheeler or House loan to you in future.
  • What documents will be shared with me during the loan and on closure?
    Paytm, on behalf of lender, will provide you below documents 24X7 on the registered e-mail ID
    1. Welcome Letter (on loan activation)
    2. Loan Agreement (on loan activation)
    3. EMI Repayment Schedule (on loan activation)
    4. Statement of Loan Account
    5. GST Invoices for Charges paid
    6. No Objection Certificate (on loan closure)
  • How to manage my data stored with Paytm for the Personal Loan account?
    For any queries related to your Personal data, you can write to us at [email protected] with the subject "My Personal Data-Personal Loan" from your Paytm registered email id. Kindly mention your registered phone number and query in the mail body.

    If you want to delete your personal data stored with us for the Personal Loan product, kindly follow the below steps:

    1. Drop an email to our Customer Success team at [email protected] with the subject "Remove my Personal Data-Personal Loan”.
    2. Mention your Paytm Phone number in the mail body. Kindly ensure to send this from your Paytm registered mail id only.
    3. If you wish to remove your data from all the loan products, follow the above steps and just change the subject to "Remove my Personal Data-All Loan Products".
    4. Our customer success team will get back to you with the next steps and the confirmation of data deletion.

    Kindly note that the customers with the closed loan accounts only can avail this option. If your account is active and still want to delete your data, we request you to pay the remaining dues, close the account and then follow the above steps. To foreclose the loan account, go to Personal Loan Passbook page, click Close now and proceed with the payment.
  • When would my EMI repayments start after Loan Disbursal? Is Gap Day Interest applicable to me?
    For Loans disbursed before Cut off date (i.e.15 th of month), First EMI date would start from next month on EMI due date. Loan disbursed after Cut off date , First EMI date would start from next to next month on EMI due date.
    For Loan disbursals between 1st-4th of Month and 16- End of Month, Gap day interest would be applicable as the interest amount for this period is not included in scheduled EMIs repayments. An upfront Gap day interest is deducted from the loan amount at the time of disbursement in these cases.
    Loan Disbursement date Gap Day Interest applicable First EMI Date Interest built in First EMI
    From To
    1 4 Yes Next Month EMI due date Full Month
    5 15 No Next Month EMI due date From date of disbursal to Next emi due date
    16 EoM Yes Next to Next Month EMI due date Full Month
  • How can I pay my missed EMI / Foreclose the Loan?
    In case due to inadvertent circumstances your EMI is not cleared from your bank account via the auto debit Enach mandate on the due date, you can deposit it yourself through the Paynow Section of the loan pass book in the Paytm app itself using your net banking / debit card. Alternately the EMI mandate will be represented.
    You may foreclose the loan as per the terms and conditions of the Lender, through the Paynow Section of the loan pass book in the Paytm app itself using your net banking / debit card.
  • How can I change my Bank account used for repaying the Emi ?
    Presently we do not have the feature of facilitating change of bank account used to set up the EMI mandate. We urge you to continue servicing your EMI through your Bank account that was used to set up at the time of Loan Disbursement.
  • I applied but my loan got rejected. why?
    We regret to inform you that your application did not align with the requirements of our lender partner policy. We are unable to offer you a loan at this point in time.
  • When can I re-apply for a loan?
    You are welcome to re-apply for a loan after a span of 90 days. Please note that this time frame may be subject to modification in accordance with the lender partner’s policy.
  • How can I increase my chances of getting a personal loan?
    To be eligible for a loan, you should be within the age group of 23-60 years. Additionally, your credit score, due repayment track record and employment status significantly influence your potential for loan approval and better terms.
  • My loan got rejected. How can I reapply?
    You can revisit the Personal Loan icon on Paytm App after a period of 90 days to initiate the application process once again.
  • How much loan can I get?
    Personal Loan offers begin at a minimum of Rs. 10,000 and go up to Rs. 5 lakh. The specific amount you are eligible for will be determined by factors such as your credit score, your eligibility for a loan, lender partner’s policy, etc.
  • What will I miss out if I close my loan early?
    Paytm's provides quick loans with fully digital experience. We recommend to continue loan with Paytm in order to get better offers at lower interest rate & higher loan amount. This will also allow you to save any additional foreclosure charges.
  • When can I foreclose my loan?
    Your eligibility for foreclosure varies depending on the lender partner. Please check your loan documents for details.
  • How can I foreclose my loan?
    If you are eligible, you can go to the "Close Loan" icon in your passbook for foreclosing loan. You will have to pay the entire principal outstanding amount in a single payment including additional foreclosure charges that may be applicable as per your loan & interest till date.
  • Do I have to pay any addition charges for foreclosure?
    Yes, foreclosure charges will be levied on you that vary depending on factors including the loan amount and tenure. The foreclosure charges tend to be higher if you choose to close your loan earlier.
  • What is loan foreclosure?
    Loan foreclosure is the full repayment of your remaining loan amount in one single payment instead of paying multiple EMIs. Along with principal amount, additional amount is also charged at the time of foreclosure, as per policy.
  • What can I use a personal loan for?
    A personal loan can be used for almost any type of expense ranging from purchasing appliances, home improvements, vacations, debt consolidation, medical bills, car repairs, down payments, and more.
  • Any minimum amount that I can borrow?
    The exact amount of the minimum personal loan amount varies from one lending institution to another. This can be checked on Loan offer screen while applying.
  • What is the tenure of a personal loan?
    Peronal loan tenure varies as per our lender partner policies. Currently, our lenders offer personal loan from 6 months to 36 months. However, we recommend to visit loan offer screen to verify for your profile.
  • Can I transfer an ongoing loan to Paytm?
    Currently, we doesn't offer this functionality. We will notify once we have it.
  • What are terms n conditions of Paytm personal loan?
    You can read our T&C here.
  • Why choose a personal loan through Paytm instead of directly from a bank?
    Personal Loan from a bank may involve extensive documentation and multiple branch visits. Paytm's 100% digital & transparent process takes just around 5 minutes based on your details. The amount is directly deposited into your account, immediate usability and convenience.
  • Can someone from outside india apply for loan via Paytm?
    No, Paytm doesn't offer this functionality. We will notify you once we have. it
  • Which platforms can be used to apply for personal loan?
    Personal loan functionality can be availed on Android & iOS.
  • Do I have to provide any security, collateral or guarantors?
    No, our application process doesn't require you to do so.
  • I've recently started a new job. Can I still get a personal loan?
    Certainly, you can secure a personal loan after beginning a new job. Your loan will be approved if you meet our the lender's eligibility criteria.
  • Can I choose the loan repayment tenure?
    Yes, you can select a loan tenure that suits your needs.
  • Should I select lowest EMI for my loan?
    Low EMI could be due to a low interest rate or extended repayment term, or both. We advise to base your EMI choice on your repayment ability.
  • What are the benefits of having a higher credit score?
    A high credit score reflects good repayment behaviour & improves the chances of loan approval. Also, you can potentially get better terms like lower interest, higher amount, or waived charges due to your good credit rating.
  • What is a credit score?
    A credit score is a number that reflects your creditworthiness and repayment capability. It helps lenders assess your repayment capability when considering loans.
  • How is my credit limit decided?
    Your credit limit depends on document authenticity and repayment history, traceable through your KYC documents. This is also governed by our partner policies.
  • Is successful repayment only criteria to increase my maximum disbursal amount?
    Your repayment history on Paytm platform plays a key role in determining your maximum disbursal amount however other factors like salary, active loans etc also affects this.
  • Are personal loan interest rates fixed or floating?
    Our lending partner charges loans at fixed rate of interest rate. Your EMI amount remains fixed therefore every month during the loan tenure, you will pay the exact same amount as EMI.
  • What is Annual Percentage Rate (APR)?
    APR represents the overall annual loan cost as a percentage, covering interest rate and additional charges like processing fees. It reveals the true borrowing expense, crucial for customers to comprehend their actual loan expenditure.
  • Is there a processing fee for the loan application?
    Processing fees vary and will be mentioned during the application process.
  • In case of Top-up loan, do I need to pay any foreclosure charges to close my old parent loan account?
    No, Foreclosure charges is levied on you for closing the parent loan account in case of Top-up loan request.
  • Why do you need my bank account details?
    We need your bank account details to transfer the loan amount
  • Why do you need to verify my bank account?
    We need to ensure that the bank account that you have provided belongs to you.
  • Why do I need to set up mandate/auto pay?
    Mandate set up is required to ensure user does not have to pay the EMI manually. It will be auto debited from user's bank account every month automatically.
  • I am not able to add my bank account. Why?
    Please check for the following -
    1) Ensure you're the account holder
    2) Verify correct account number and IFSC
    3) Confirm if bank supports eNACH or UPI mandate facility
  • I have entered the details for Mandate setup but bank server is not responding. What to do now?
    Please try after some time or try with a different bank account.
  • Without setting up the mandate, how will my EMI payment occur?
    If you skip the mandate setup, you will have to visit passbook section & select "Pay Now" to make payments every month. Please note that advance payment functionality is only enabled between 1st -3rd of every month.
  • Not able to setup mandate as I do not remember Internet banking User-ID & Password. What to do now?
    Authentication details will be required to set up mandate. Please arrange the same and try later. We also allow other modes such setup via debit card or UPI. You can explore those as well
  • Not able to setup mandate as I do not have card details for debit card. What to do now?
    Authentication details will be required to set up mandate. Please arrange the same and try later. We also allow other modes such setup via internet banking or UPI. You can explore those as well.
  • What amount will be deducted through auto debit?
    Auto debit amount will be equal to your EMI amount. But, if there is any outstanding amount on your loan then the auto debit amount will be equal to the total loan outstanding amount.
  • Can my bank account for loan disbursal and EMI repayment be different?
    No, it has to be same as per our lender partner policies.
  • How will I receive the loan amount?
    The loan amount will be credited to your registered bank account.
  • I applied for loan, but I didn't receive the loan amount immediately. why?
    In some cases, the loan may take up to 48 hours to be transferred to your bank account. Please reach out to customer support if your loan is not disbursed even after 48hrs
  • How long does it take for personal loan to be disbursed?
    Complete our 100% digital application process. The loan amount is transferred instantly however in few cases it may take upto to 24-48 hours.
  • What documents do I need to apply for a loan?
    We don't collect any physical documents but during loan process it is advisable to keep PAN & Aadhaar card numbers handy.
  • Can I send my documents to you over email?
    Our truly digital process eliminates document submission. Keep your Aadhaar card and PAN number ready when applying.
  • Can I apply for personal loan without income proof?
    Paytm allows you to apply for personal loans without income proof. However, you need to have an Aadhaar Card and a PAN Card at your disposal to apply for such instant loans.
  • My mobile is not linked with Aadhaar. What to do now?
    Although an Aadhaar-linked mobile is preferred for completing your KYC. However we also offer alternate modes of KYC verification.
  • Can I apply for two or more loans simultaneously?
    You can only avail one loan at a time.
  • Can I change my loan terms?
    Once a loan is approved and disbursed, the loan terms such as amount and repayment date cannot be changed.
  • Can I get my loan cancelled?
    We allow users to cancel the loan within the cooling period as per our lender partner policies. For more information, you can download the loan agreement.
  • How can I get my loan documents?
    Loan documents can be downloaded from Passbook section after selecting "Personal loan" icon on the app.
  • How can I get my loan agreement/ repayment schedule/ interest certificates/statement of accounts/NOC?
    You can access all loan-related documents online via our app. Visit Passbook section by selecting "Personal loan" icon on Paytm app.
  • What happens if I don't pay the loan?
    Loan repayment defaults lower your credit scores, impacting future loan prospects. Defaults for significant days might also lead to legal actions by lender.
  • How can I repay my loan?
    Repay your loan through the Paytm app's Personal Loan section using online methods like Net Banking, Debit Card, UPI, or Paytm Wallet.
  • How can I track my repayment schedule of the loan?
    You can find it by logging into the Paytm app under Personal Loan icon. Also, repayment schedule is mentioned in the loan documents.
  • Can I pay through cash?
    As of now, we support online modes of repayment only.
  • Is there a way in which I can make a partial payment on the due date, and pay the remaining amount later?
    No. The entire amount needs to be paid on or before the due date.
  • Can I reschedule or postpone my EMI date?
    No. Paytm does not provide any option to reschedule or postpone your EMI date.
  • Can I pay before the EMI date?
    Yes, you can make an advance payments on the app.
  • Why I am not able to change my bank account for top-up loan?
    As per lender partner policy, if you are applying for a TopUp loan, amount will be credited in your existing bank account.
  • I am taking Top-up loan but why is my loan disbursed amount lower than the amount shown in loan offer screen?
    Paytm will close your parent loan account first. The balance outstanding will get adjusted in your sanctioned amount & net disbursal will be done.
  • What are Paytm Personal Loans Nodal Officer Details?
    For grievances related to to your loan facility, you can reach out to the below mentioned nodal officers:
    Name : Aditya Ranade
    Email id: [email protected]
    Phone No.: 0120-5083345
    Designation: Nodal Grievance Redressal Officer
  • Can I apply for loan from any location through Paytm?
    Paytm provides loans in all metro and major tier 1 and tier 2 cities. We are growing our network everyday.
  • Is employment necessary to apply for credit on Paytm?
    Paytm provides personal loans to salaried and self employed individuals. You can go to personal loans icon on your app and check your eligibility.
  • Are there any late payment charges?
    Yes, in case of late payment you will have to pay late fee. You can find the details of these charges in your loan documents.
  • My CIBIL score is low. Can I get a personal loan?
    CIBIL Score plays an important role in determining your eligibility for availing a personal loan. Please go to personal loans icon on your Paytm app to apply for one.
  • I want to transfer my loan to a different organization. Can I do that?
    Paytm doesn't allow the functionality to transfer the loan through the app however you can close the current loan as per lender policies.
  • What is the minimum salary required to get personal loan?
    Eligibility for availing a personal loan depends on a number of factors including your salary, credit score and employment status and not on any one.
  • Can I apply for a personal loan jointly with my spouse?
    Currently, Paytm doesn't accept joint loan applications.
  • App is sending SMS from my phone after I select personal loan icon. Why?
    To maximise security, we do a one time verification to check if Paytm's registered phone number is being used in the current device. This process requries us to send a SMS & verify the identity.
  • Why am I forced to update app after selecting Personal loan icon?
    To maximise security, we allow loan application only from latest version of the app. Since you are on older version, we recommend you to update the app & revisit personal loan.
  • Can I get amount disbursed to someone else's account?
    No, you can only get the loan amount disbursed to your registered personal bank account.
  • I have a joint bank account. Can I get loan amount transferred to that account?
    Yes, it is possible to get the loan amount transferred to a bank account jointly held by you. However, you should be the primary account holder of that joint bank account.
  • I am facing technical issues during my loan applciation. What do I do?
    You can connect with us via the "Help" section in your personal loan application. You can also reach out to us via Paytm app's central help & support section -
    Help & Support -> Credit Score & Loans -> Personal Loans
  • How to get higher loan amount?
    Loan amount is calculated as per lender partner policy based on multiple factors such as location, age, credit history etc. Please go to personal loans icon to check your loan amount.
  • Why are the processing fees charges deducted from my loan amount upfront?
    Due to the operational work in credit checks and loan approval, It is a standard practice to deduct the processing fee upfront from the loan amount.
  • App is asking for location permission when I am requesting to transfer money. Why?
    To prevent any fraudulent activites, we capture a realtime location of your device before initiating transfer. We advise you to allow location to app as this is a mandatory step.
  • Not able to give location persmission when requesting to transfer money to bank account. How to give permission?
    For some devices, location permission for Paytm app may be disabled. Please visit
    settings -> App permission -> Paytm app -> Permission -> location & update the settings accordingly.

    In case you are facing issues, please reach out to customer support.
  • How much time does it take to complete personal loan documentation process?
    Our truly digital experiance allows you finish process just in few minutes.
  • Why do I need to share my PAN card details?
    Your PAN card details are needed for identity and financial history verification.
  • Why is mandate amount higher than my EMI amount?
    This is to ensure we can reuse the mandate for best offers in future. Also, due to selected lender parters, repayment of broken period interest is also deducted with the EMI amount. Please be assured Paytm will never charge more than due amount.
  • Why is mandate expiry longer than my loan tenure?
    This is to ensure we can reuse the mandate for best offers in future. Please be assured Paytm will never charge more than due amount.
  • I was offered a top-up loan, but since I've paid off the parent loan, the offer is no more. Why?
    Top-up loans require an existing active loan. Closing the parent loan removes the top-up offer. Instead, now you can apply for a renewal loan with improved benefits.
  • I did not receive my loan documents. What to do?
    You can connect with us via the "Help" section in your personal loan application or passbook. You can also reach out to us via Paytm app's central help & support section -
    Help & Support -> Credit Score & Loans -> Personal Loans.
  • What happens if I miss EMI payments?
    Missing your EMIs could lead to bounce charges and harm your credit score. This may also hinder future credit opportunities. We advise you to always settle dues within due date.
  • Can I change my loan tenure after the loan is sanctioned?
    You can't change the loan tenure once the amount is disbursed.
  • In case of any suspected fraud from my account, whom should I reach out to?
    You can connect with us via the "Help" section in your personal loan application or passbook. You can also reach out to us via Paytm app's central help & support section -
    Help & Support -> Credit Score & Loans -> Personal Loans
  • Do I need to verify my profile again while taking Top up loan?
    No, you do not need to verify your profile again when taking a Top-up loan.
  • What is a Top-up loan?
    Top up loan allows you to get extra amount on existing loan. It is currently invite-only & can be unlocked by customer with good repayment history.
  • What happens to my existing loan in case of Top-up loan?
    The existing loan account is closed by Top-up loan amount. We deduct outstanding amount of existing loan first & then transfer the remaining amount to your registered bank account.
  • Do I have to pay any fees for Top-up?
    There are no special fees & charges. Standard processing fees will be applicable to the loan
  • How to get eligible for Top-up loan?
    An existing customer who makes timely EMI repayments continuously over a fair period of time gets eligible for a Top-up loan.
  • What happens if my savings account doesn't have the minimum balance due at the time of due date?
    One should always keep enough balance on due date for payment. Low balance may lead to bounce charges. It can also attract penalties and negatively impact your credit score.
  • What happens if I skip one EMI? Can I pay it all at once in the next month?
    We strongly advise to avoid missing EMIs as it impacts credit score & incurs additional charges.
  • Money got deducted from bank but EMI is still due. What should I do?
    Please wait for 5-7 working days. Any amount deducted from your account will be refunded in case we have not received it.
  • My netbanking transaction limit is exhausted. Can I make multiple payments to close loan?
    Currently, we do not offer this functionality. We will notify you once this is available.
  • If I pay for an EMI by using the Pay Now button on the app, will you deduct the EMI through auto-debit as well?
    No. If payment is made from 'Pay Now' functionality on the app then auto-debit will not happen for that month.
  • You have asked me to share the Internet banking details in the application process. Is it safe?
    We never store any password related information that you share with us. Please be assured it is completely safe process
  • You have asked me to share the debit card details in the application process. Is it safe?
    We never store any password related information that you share with us. Please be assured it is completely safe process
  • If my salary account is changed to some other Bank. Can I modify the mandate and link new account ?
    Currently, option to modify the mandate is not available on the app. We will keep you posted once we make this functionality live. However, we recommend you to maintain sufficient balance in your account to avoid bounce charges.
  • What if I change or lose my phone?
    You need to reinstall the Paytm app on your new phone from the same SIM card.
  • I am stuck at bank details page. Why?
    Please make sure that KYC name and bank name match. You can also try again after some time and If you are still unable to move ahead, you can connect with us to get resolution.
  • I have cancelled/ foreclosed my loan but my mandate is still active. Will my money be deducted?
    No, once your loan is closed/ cancelled, money will not be deducted from your account. You can cancel your mandate directly from your bank.
  • I want to cancel my Mandate. How to do it?
    You can cancel mandate with your bank directly. Currently, Paytm cannot cancel the mandate on your behalf.
  • I tried to foreclose the loan but not able to pay entire amount in single payment. Why?
    This usually happens if there is a transaction limit applicable at your Bank's end. Please update this limit & try again.
  • Can I close loan by making multiple payments?
    Currently, we do not offer this functionality. We will notify you once this is available.
  • When can I do prepayment / advance EMI payment?
    Advance EMI payment functionality is enabled from 1st - 3rd of every month. Please select "Personal loan" icon to visit passbook section & explore advance payment functionality.
  • What is EMI?
    EMI refers to Equated Monthly Instalment. It simply means refers to a fixed amount paid by you (borrower) to lender at a specific date every month. EMI enables you to pay a portion of your total outstanding loan principal and interest every month so that by end of the loan tenure your loan is fully repaid.
  • I don't own a smartphone. Can I apply for loan?
    No. Currently, You can only apply for personal loan if you have a smartphone.
  • Can a personal loan increase my credit score?
    Yes. A personal loan can help you enhance your credit score. This strategy can be helpful when you are planning to avail of a bigger loan amount or have a limited credit history.
  • Will there be a credit report enquiry when I apply for this loan?
    Yes, there will be a credit report enquiry made whenever you borrow from our lender partners via Paytm. This enquiry will only be made after you submit the loan application.
  • How does my credit score get affected by this loan?
    Your credit score gets affected only if you’re not able to pay back the loan EMIs on time or if you miss payments altogether. With consistent repayments, your credit score will only improve.
  • While applying for loan the app is crashing. What should I do?
    Please try restarting the app. If you are still facing the issues, you can connect with us via the "Help" section in your personal loan application or passbook. You can also reach out to us via Paytm app's central help & support section -
    Help & Support -> Credit Score & Loans -> Personal Loans
  • Why is work email required?
    This information is required as per our lender partner polciies to verify your employment.
  • I am not able to fill my current address, what should I do?
    Enter your complete address, including house number and street name (if applicable). Please use standard characters, no special keyboards. Ensure it matches your official documents.
  • Do I have to complete my profile in one go?
    Completing your profile in one go is recommended. If some documents or information are missing, you can return later to add them and resume from where you left.
  • Will you be contacting my employers?
    No. We only ask for this information as per our lender partner polciies. Your official email ID verification is a way of verifying your employment.
  • I don't have a work email. Can I use my personal email?
    No. This information is required as per our lender partner polciies to verify your employment.
  • Mandate setup is complete but application is rejected at last step. Why?
    As per our lender partners policies, one final assessment is done right before transferring money in your bank account.
  • What is Video KYC?
    Users can do the KYC verification now remotely on a video call, this will be done via specialized banking staff.
  • What do I need before starting Video KYC?
    To do Video KYC, please ensure you have a stable internet connection, good lighting, your original PAN card, and you're in India.
  • What if I get disconnected during Video KYC?
    If you get dropped off / disconnected, due to some reason while doing VKYC, you can reinitiate the journey from the same screen within 72 hours post EKYC completion provided the application is valid. Post 72 hours, you will be required to repeat EKYC & complete VKYC till such a time the application is valid.
  • What details do I need to confirm during VKYC?
    You need to verify and confirm your KYC/Application details during VKYC.
  • Can I record and upload videos as part of video KYC?
    No. Real time video call should happen in the process of video KYC verification.
  • I have recieved a call from Paytm employee for KYC verification. What should I do?
    If you have received a call for KYC verification from a person posing as Paytm employee, do not respond to any query asking for your personal details, it might result in a fraud. Paytm never calls you to share your personal details. Further, to know about the KYC status of your account, you can visit the 'Profile' section on your Paytm app.
  • I am stuck at KYC stage while taking personal loan. What to do?
    If you are facing troubles in KYC process, please connect with us through the Help section.
  • Why do I need KYC verification?
    KYC Verification is required to confirm the identity of the customer and subsequently avoid any identity theft or related frauds.
  • What is the difference between VKYC & selfie asked at the time of KYC process?
    Video KYC or vKYC is the process where an agent verifies your identity through video call on the app, whereas uploading selfie is a process of matching the selfie with government records. You only have to upload your selfie for verification.
  • Is VKYC mandatory?
    Requirement to complete VKYC is dependent on the lender partner providing the loan.
  • What happens if my KYC verification fails?
    Paytm allows you to verify KYC in 3 different ways. However, if your KYC fails even after all the three attempts, you will not be eligible to get a personal loan through us.
  • Can I get a loan without KYC?
    KYC Verification is mandatory for availing a personal loan through Paytm.
  • How do you calculate broken period interest?
    Broken period interest is calculated on the time period between your loan disbursement and the first EMI date.
  • How is broken period interest deducted from my loan?
    Broken period deduction is basis on lender partner polciies. Some partners may deduct the interest from loan sanctioned amount while others may charge from 1st EMI. Please refer to loan documents for more information.
  • Does "broken period interest" refer to an additional recurring interest charge applied to a personal loan?
    No, broken period interest is not an additional recurring interest charge, and it doesn't occur with every installment of a personal loan.
  • Is broken period interest the same as GAP interest?
    Yes, broken period interest and GAP interest are the same.
  • Are there any hidden costs that I have to pay while applying for the loan and at time of closure?
    Our application process is completely transparent. There no hidden cost that we charge. All costs are explicitly stated in the Key Fact Statement & in the welcome kit that you can download from app
  • Can I apply for loan on someone else's behalf?
    No, you cannot apply for a loan on someone else's behalf as per our lender partner policies.
  • Someone offered me money/ commission for availing a Loan/service - Can I report it somewhere?
    Please do not fall for such scams or false luring offers. You can report it on your HELP section
  • I received an SMS from Paytm for login on a new device. However, the login is not done by me. What should I do?
    If you have experienced any unauthorized activity in your account, kindly logout of all your devices and wallet linked apps. To logout from all your devices,
    1) You can click on the link in the SMS which have received from Paytm notifying you about the new device login. It will guide you to for logout from devices
    2) You can visit the 'security & privacy' section within 'Profile' setting of your Paytm app. Navigate to 'Manage Accounts on all devices' sub-section to perform logout from all devices
    3) Alternatively, you can call us at 1800 120 130 for reporting the event and logging out from devices
    As a precautionary step, Never share your account number, OTP, Password, Card number, expiry date, CVV, etc. Paytm never calls you to share your personal details.
  • My phone is lost/missing/stolen. What should I do?
    Here's what you should do immediately when you realize your mobile is missing/stolen/lost
    Please connect with us immediately on Fraud helpline number 1800120130 & follow below steps to secure your account:
    1. Select option 1.
    2. Once you select this option you will be asked to enter the registered mobile number.
    3. Option to block your account and logout from all active sessions will be given. You must follow these steps as these are extremely important to immediately secure your account from any further loss or damage.
    4. You may then proceed to raise your query by selecting further options.
    Post securing your account please connect with your SIM card Operator immediately to block the SIM to prevent further misuse.
  • I received a call from Paytm personal loan asking for OTP. Should I share?
    Please note that Paytm never calls asking for OTPs. You can raise a ticket to report this fraud.
  • I have received a phone call from Paytm personal loan team asking about my account number, card pin etc. Should I share?
    Please note that Paytm never calls asking about any sensitive, personal information. You can raise a ticket to report this fraud.
  • If I do not possess Aadhar Card and have never applied for the same, can I still get loan through Paytm?
    Unfortunately, we need to validate your Aadhar Card number to process the application further. You are required to hold a valid Aadhar card number in order to complete our loan application process.
  • If I do not possess a PAN Card and have never applied for it, can I still get loan through Paytm?
    Unfortunately, we need to validate your PAN Card number to process the application further. You are required to hold a valid PAN card number in order to complete our loan application process.
  • I have paid my EMI but still getting reminders. What should I do?
    Please go to the Help section in your application to report such calls
  • I want to report concerns regarding payment reminder calls. How can I report such calls?
    Please go to the Help section in your application to report any concerning reminders/ calls
  • What are the benefits of loan insurance?
    Loan insurance provides financial coverage by repaying your outstanding loan amount in case of accidental death or permanent or partial disability. Additionally, loan insurance also provides "EMI Protection" cover by repaying your EMIs in case of hospitalization. You can opt for loan insurance while applying for Personal loan on the app
  • Who is eligible to be covered under loan insurance plan?
    All Indian customers of Paytm between 18-60 years of age are eligible to purchase loan insurance plan at the time of applying for Personal Loan.
  • Is Loan Insurance mandatory?
    No, loan insurance is not mandatory. However, it is highly recommended due the financial security it can offer.
  • Who will receive the insurance claim amount?
    Claim amount will be paid to the lender to settle the outstanding loan amount or EMI and balance, if any, will be paid to the customer/nominee.
  • Is there a waiting period for loan insurance policy ?
    Yes, there is a waiting of 30 days for EMI protection in case of hospitalization due to an illness. However, there is no waiting period for Personal accident or hospitalization due to an injury.
  • What is the validity for this policy?
    The policy starts from the date of loan amount is transferred and is valid for the tenure of the loan.
  • What happens to my loan insurance in the event of loan foreclosure?
    In the event of foreclosure, the cover continues until the end of the policy period, providing coverage against accidental death, permanent or partial disability.
  • How to cancel my loan insurance policy?
    You may cancel the policy within 15 days from the date of loan disbursement by emailing us at [email protected] and receive 100% of your premium. For cancellation beyond 15 days, the premium will be refunded on a pro-rata basis as per the policy T&Cs.
    The refunded amount will be adjusted against your loan overdues.
  • What is the process for loan insurance claims?
    Claim intimation can be given by calling ABHIC’s call centre- 18002707000 or by [email protected] or by writing to ABHIC’s office address along with the policy details within 45 days date of occurrence of the medical event. Post-discharge, claim documents shall be sent to ABHIC on email to ABHICL PAClaims [email protected]
  • What is my loan insurance Claim settlement duration?
    Please refer to the loan insurance policy document to understand settlement durations in detail.