Enjoy Zero Balance Account & no Charges on Digital Transactions only with Paytm Payments Bank

By: DT NEWS NETWORK
January, 05, 2018

Paytm Payments Bank is India’s largest digital bank with zero charges on all online transactions and no minimum balance requirement.

The bank has been designed to help achieve financial inclusion in the country and is in line with Paytm’s mission of bringing half a billion Indians on to the mainstream economy.   

Paytm Payments Bank gives users an access to: 

  • Quick and paperless account opening
  • Earn interest on their savings account
  • Zero-fee account, no minimum balance requirement
  • All online transaction (IMPS, NEFT, RTGS, UPI) will be free of charge
  • Free personalized RuPay digital debit card
  • Withdraw cash from any ATM
  • Personalised banking at ‘Paytm ka ATM’ locations across India

How to open a Paytm Payment Bank account:

- After updating the Paytm app to the latest version, you will be greeted with a popup about the bank

- Tap on the ‘Proceed’ button, and it will ask you to set a passcode, followed by an option to appoint a nominee

- You will have to enter nominee details such as full name, relationship, age and date of birth, address and more

- Once the nominee is appointed, you will have to enter your Aadhaar card and PAN card numbers, followed by the address of verification

- After all these details are provided, a Paytm representative will visit your given address for completing KYC, after which your Payments Bank account will be activated

Benefits that users can avail with Paytm Payments Bank account are:

Zero balance accounts

Accounts holders of Paytm Payments Bank can open zero-fee accounts, which means no minimum balance is required to maintain the account.

Earn interest for keeping money in your account

Earn minimum 4% interest and up to 7.03% by keeping money in sweep out Fixed Deposit (FD)

No penalty on breaking Fixed Deposit

No breaking charges on sweep-out Fixed Deposit

Free Rupay debit card

Paytm Payments Bank customers will also get free personalized Rupay digital debit card, which can be used to make online purchases.

ATM withdrawal facility

Customers will be able to withdraw cash from any of the banking outlet ‘Paytm Ka ATM’ locations across India. Customers can also use their physical debit cards to withdraw money from any ATM in the country. 

No fee for digital transactions

No charges for online transactions like IMPS, UPI, NEFT and RTGS.  

Risk-free deposits

Your money is safe with us. We invest deposits only in government bonds. None of your deposits will be converted in to risky assets.

Real time updated Passbook

View your transaction and balance in real time in Paytm Passbook

Highly Secure

Your account is secured with a special Paytm Passcode to ensure your account is safe

Free insurance

Get a free insurance cover of upto Rs. 2 lakh in the incident of death or permanent total disability, according to the terms and conditions

India’s most convenient banking is here. Enjoy banking with the country’s largest digital Paytm Payments Bank. 

 

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