FAQs : Rent Payments on Paytm
What are the benefits of paying rent through credit card?
Making Rent Payments on Paytm through Credit Card will help you unlock many benefits:
- Enjoy cashback offers from Paytm that allow you to save on every Rent payment
- Earn reward points, cashbacks or air miles from your card issuing bank
- Enjoy interest free credit period of upto 45 days as per your billing cyclet
- Achieve your credit card milestones of fee waiver and bonus rewards
When will the money be transferred to the recipient's account?
Although Paytm tries to process all Rent transactions as soon as possible, it can take upto 2 working days for the payment to reflect in your recipient's bank account. Be rest assured that your money is safe and we will notify you when the transfer is completed.
How will my rent payment be transferred to the recipient?
Your recipient will receive the rent payment directly in his bank account provided by you. We will notify both you and landlord when the transfer is completed.
Does my recipient need to be a Paytm User or Merchant to receive my Rent?
No, your recipient need not be a Paytm User or Merchant in order to receive your Rent payment, paid through Paytm.
Are there any limits on the number of Rent Payments allowed?
Yes, each rent user can make upto 10 rent payments every month. Also, each recipient can receive upto 10 payments every month. These limits are reset on 1st of every month.
Are there any limits on amount that can be transferred under Rent Payment?
Yes, each rent user can make rent payments accumulating to Rs. 3,00,000 every month. Also, each landlord can receive rent payments accumulating to Rs. 3,00,000 every month. These limits are reset on 1st of every month.
Are there any fees/charges on Rent Payment transactions?
Paytm does levy fees on some payment methods like credit card. The fees is mentioned on the payment page and included in the total payment. This fees allows Paytm to cover the charges paid to the card issuing bank.
Is it safe to pay Rent on Paytm?
Safety of your information and money is of paramount importance for Paytm. All rent payment transactions on Paytm are encrypted with 128-bit SSL security. Our real time monitoring algorithms and risk engine weeds out any suspicious transactions and ensures the customer's money is always secure.We ensure that your confidential information is secure and encrypted. Paytm does not store any of your financial information
How do I pay my Rent on Paytm?
You can pay rent to your recipient by entering the recipient's bank account number, account holder name, IFSC Code or alternatively you can make payment to the recipient's UPI ID. Once the recipient details have been added, you can enter the amount to be paid on the next screen. Post which, you will be taken to the payment page where you can pay using any Credit Card, Debit Card, Netbanking, UPI, Paytm Postpaid or Paytm Wallet.
What kind of rent payments can I make?
You can pay House Rent, Office/Shop Rent, Property Token, Property Deposit, Broker Payment through Paytm rent payment.
What kind of cards are accepted?
Except American express ,we accept all kinds of debit & credit cards including corporate credit cards and Diners club.
My transaction is in pending state, what to do now?
We transfer most of the rent payments instantly but in certain cases it may take upto 2 days for your recipient to receive the payment.Be rest assured that your money is safe and we will notify you when the transfer is completed
How will rent payment reflect in the recipient's bank account?
Your rent payment will reflect in your recipient bank account with description as IMPS / Paytm Transfer / UPI-Paytm.
How can I know the status of refund for my failed order?
In case of a failed order, we initiate the refund instantly and communicate all details on the post order screen like bank account details, refund reference number etc. Request you to please check your bank account/Credit Card using the same reference number. It will take 3 working days to reflect the refund amount back to the source.
Can I cancel my rent payment?
Paytm's rent payment service does not allow users to cancel the rent payment order as we initiate the rent transfer to the recipient account as soon as the order is placed.
Why is my landlord's PAN number required in some cases?
As per Section 194IB under the Income Tax act, it is required to submit the landlord's PAN for rental payments above Rs 49,999/-
How do I get the bank rewards for my rent payments?
Depending on the credit card you are using, you can earn rewards in the form of cashback, cashback points,reward points, instant discount, air miles etc. The way these rewards are credit to your account may vary from bank to bank. To know more about your credit card rewards programme, please get in touch with your bank
