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Paytm UPI Handle Shutdown To Hit Auto Debits From Sep 1, 2025
Dear Policybazaar’s valued customer,
This is to bring in your notice that from September 1, thousands of recurring payments could fail as the @paytm UPI handle is discontinued under the new guidelines issued by RBI (Reserve Bank of India).
While Paytm has shifted most services to Axis Bank, HDFC Bank, SBI, and Yes Bank, many autopay mandates worth over ₹1,400 crore annually in insurance premiums, remain on the old handle. This affects all the customers:
1. Who have registered auto-debit through Paytm.
2. Whose auto-debit is registered through any other UPI app like Google Pay, PhonePe or BHIM app as Policybazaar’s UPI handle for auto debit is linked to Paytm.
Even though the Merchant Payments Alliance of India, representing Netflix, Amazon and Policybazaar (along with other digital payment merchants), has urged an automated migration, still to avoid any problems and ensure your policy continuity, please re-register your auto-debit through:
1. The link sent via email/WhatsApp (please verify if the source is genuine, Policybazaar links are sent from official Policybazaar's email ID & WhatsApp number: care@policybazaar.com, +91 85060 13131)
2. If having any doubts on the link, login directly through the Policybazaar mobile app or website (My account page) and register for new auto-debit.
Note that regular premium payments are crucial for policy benefits. Re-registering auto-debit ensures smooth payments. Please take action today to safeguard your policy continuity. Thank you for your support!
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
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