Paytm company came in 2010 and its founder is Vijay Shekhar Sharma and it spread its feet in the market during demonetisation in India and it brought its own wallet system so that we all used its wallet but when NPCI launched UPI, paytm’s wallet customers were less and keeping a close eye on these, Paytm has launched its Paytm Payments Bank.
This Paytm Payments Bank was launched in 2017 and has its headquarters in Noida and has only one branch. In other big cities, it has a sub-branch. Paytm Payments Bank has been launched keeping in mind the customers or customers who do not have a bank account or do not have a bank ATM card and he is a paytm customer and has a lot of account opening in it. It’s only a 5 minute process – what is Paytm Payments Bank? How to open an account in Paytm Payments Bank – Paytm Payments Bank fees and charges, Paytm Payments Bank interest rates.
What is Paytm Payments Bank?
Paytm Payments Bank means a bank which customers use for their services or to pay someone and it is very easy and they are under reserve bank they do not have physical existence. It becomes easier for the customers to do not give these loans and finances mutual funds and other funds do not provide.
But this Paytm Payments Bank gives you the facilities of mobile banking and net banking and also provides you with debit cards and ATM cards, its debit card is of high quality recognition visa and Rupay Platinum.
We can open the minimum balance in the account of Paytm Payments Bank from 0 and the maximum we can keep in it is ₹100000 and when it is ₹100000, it automatically changes to the fixed deposit FD and pays 8% interest per annum and this fixed deposit FD we can also break it does not charge any charge and on the normal deposit it pays 4% interest annually.
What is Paytm Payment Bank KYC Document?
What is Paytm KYC Document – Friends, it is very important for you to have some government documents to get the KYC of Paytm done if you do not have this document then you cannot get Paytm kyc done.
- Aadhaar Card
- Indian Passport
- Indian Voter ID Card
- PAN Card
- Driving license
- NREGA Job Card
or any other type of IDENTITY card that provides a unique type of identification number and by which you can be verified.
Paytm payment Bank KYC Charge
How much is paytm KYC charge – To do paytm KYC you do not have to pay any kind of charge i.e. Paytm KYC is absolutely free for you
Although those who do Paytm KYC charge some charge from paytm customer, that charge can range from ₹30 to ₹50, someone also takes ₹20.
What are the benefits of Paytm Payment Bank KYC?
Benefits of Paytm Payment Bank KYC – Friends, if you get Paytm full KYC done, whether you get it done through any medium, through the agent through the KYC centre or through video KYC, if you get paytm full KYC, then you get the facilities available through Paytm which are as follows:
- Paytm wallet gets upgraded up to ₹100000
- You can ask for money from abroad in paytm wallet
- You can transfer money from Paytm wallet to any bank account.
- You can transfer payments from paytm wallet to a merchant.
- You can open an account in Paytm Payment Bank.
- You can deposit up to ₹200,000 in Paytm Payment Bank.
- A debit card obtained by Paytm which is of Visa or RuPay Platinum
- With Paytm Payment Bank you can enjoy UPI payment service like Phone Pay or Google Pay
You can enjoy the credit service you get from Paytm.
- Loans availed through Paytm become easier.
What are the feature and benefits of Paytam Payment Bank?
- Friends, as its name suggests, there is a payment bank and it has the facility to open an account hand-in-hand and we get an instant debit card.
- This is a zero balance account in which we do not have to keep thousands of rupees, if you are inside this account, if you do not keep a thousand rupees for a month, then it does not matter.
- In this account, we get the facility of Aadhaar seeding, through this we can directly take the money of government schemes in this account.
- Friends, when the amount saved in it exceeds one lakh, the extra amount that is there goes to their partner bank and you get a good interest on it, up to 6%
- In this account you get a debit card of Rupay’s classic and platinum class, you have to pay different prices to take these.
- With these debit cards available with Paytm Payments Bank, you also get personal accidental insurance of up to Rs 2 lakh which is very good.
- Along with the Paytm Payments Bank account, you also get SMS service and monthly e-mail service.
- You can also use paytm payments bank account to create UPI by connecting it with any payment app and using it to make online transactions from one bank to another.
- You can also use the Paytm Payments Bank account for NET banking and it’s great.
Eligibility for Paytm Payments Bank Account Open
- You must be at least 18 years old to open your account inside paytm payments bank
- The biggest qualification for you to open your account inside Paytm Payments Bank is that you must be an Indian meaning you must have citizenship of India.
- You should have your Aadhaar card and PAN card and some necessary documents with you so that there is no problem in your verification.
How to open an account in Paytm Payments Bank
Paytm Payments Bank kya hai, How to open an account in Paytm Payments Bank – To open an account in Paytm Payments Bank or payment bank you get the facility of opening an online bank account. Under this service, you can use the online method to open a bank account in Paytm Payments Bank.
What is the way to open a Paytm Payments Bank account?
- To open an account in Paytm Payments Bank, first of all we have to download the Paytm app from the Play Store on our mobile
- This paytm app is available for all operating systems even if it becomes a window to Apple.
- Download whether it’s Android and login to your number when installed
- When you login to Paytm, you come across three options, one of which is Paytm Payments Bank or Paytm Bank.
- First of all, the consumer should be a citizen of India and has a recognized document such as Aadhaar card, PAN card etc.
- The minimum age for opening an account at Paytm Payments Bank is 18 years
- ppaytm does not have any of its accounts without e-kyc so no one is in paytm
- Do not try to open an account without KYC, it will go in vain and take the documents and go to the nearby KYC centre and get the KYC account opened.
- After KYC, you have to click on the option of PAYTM Bank and set your passcode and after setting up the PASS CODE, enter the PASS CODE and login to PAYTM Bank.
- Virtual account I will show you a PAYTM’s ATM card and also show you the minimum balance
Paytm Payments Bank Account Fees and Charges
Paytm Payments Bank kya hai, How to open an account in Paytm Payments Bank – As you already know that it is a 0 balance account in which you do not have to keep an average of money in a month.
- Paytm Payments Bank’s account opening fee is nothing but the agents demand ₹50 from you
- You have a limit of up to Rs 25,000 to deposit cash in this account, you can deposit them in any way i.e. from the branch, from the merchant, if you cross the limit of Rs 2500, then you will start charging 0.5%.
- From paytm payments bank account, you can withdraw up to Rs 1 lakh from the branch in 1 day and up to Rs 50000 from cro, then you can do up to Rs 25000 from the merchant.
Paytm Payments Bank interest rates
Paytm Payments Bank offers interest at the rate of 2.5% per annum on savings account. Paytm Payments Bank also offers FDs in partnership with IndusInd Bank. Paytm Payments Bank FD account can fetch up to 5.5 per cent interest.
AEPS Service Charge in Paytm Payment Bank Account
- Friends, inside the Paytm Payments Bank account, you get to make only one transaction in a day through Aadhaar card, which means you can do only one transaction in a day, the maximum amount of which is Rs 10000.
- Even if you withdraw Rs 100 in a transaction, one transaction of yours will be completed.
- Through the Aadhaar card inside the Paytm Payments Bank account, you get to do only 15 transactions in a month, the maximum limit of which is up to ₹10000.
- You can only make 180 transactions in a year through Aadhaar card within the Paytm Payments Bank account, that too by staying within the limit.
Paytm Payments Bank fund transfer limit
From Paytm Payments Bank you can make transactions up to ₹2000000 at a time or within a financial year and inside paytm wallet you can keep up to ₹100000, during Paytm UPI you can make transactions up to ₹2000000 during Paytm UPI.
Paytam Payment Bank’s Visa Card Debit Card Charge
- Friends, if you issue a debit card of Paytm Payments Bank’ visa card, then its day cash withdrawal limit is up to Rs 25,000 and the daily online purchase limit is up to Rs 100,000.
- Paytm Payments Bank’s visa card debit card has an annual fee, issue fee, and replacement fee of Rs 175
- Paytm Payments Bank gives you a virtual debit card that you can use to transact online.
Paytam Payments Bank Visa Card Debit Card Charges
Friends, if you issue or remove the visa card debit card of Paytm Payments Bank, then the daily ATM cash withdrawal limit is Rs 25000 and the online purchase limit is Rs 100000
Paytm Payments Bank’s visa card debit card has an annual fee, issuance fee, and replacement fee of Rs 250.
Paytm Payments Bank ATM Service charge
- Friends, if you keep the ATM card of Paytm Payments Bank with you, then if you are in a metro city, then you can do only 5 transactions free of charge in a month and there is a limit of Rs 10000.
- In a metro city, if you do above 5 transactions, you will start seeing a charge which is Rs 20 for every transaction.
- If you live in a city without a metro i.e. in a non-metro city, then you can make only 5 transactions free of cost through paytm payments bank’s ATM card in a month.
- If you do above 5 transactions, you start being charged, which is Rs 20 for each transaction.
Friends, by now you must have known what is Paytm Payments Bank? How to open an account in Paytm Payments Bank – Paytm Payments Bank fees and charges, Paytm Payments Bank interest rates, fees and charges, Paytm Payments Bank feature and benefits
Friends, about this bank, I have the same opinion about Paytm Payments Bank that they deduct very high fees and are deducting fees, so it is better than this that you open an account in a good and big bank because it asks to keep a minimise thousand rupees and that’s all we can keep in big banks from SBI.
Friends, if you have got any good information through this article, then you must share it with all the friends and in the group and in the relatives so that they also get this information.