Hey Guys , Exciting news is coming from all Paytm Lovers . Paytm has announced to open Paytm payments Bank from 23 rd May 2016 . This is very Good news from all paytm account holder Because Now paytm going to give your more benefits like Interest on your paytm wallet Balance , Debit card , Check Book etc.
- 1 What is Paytm Payments Bank ?
- 2 What Benefits Offer Paytm Payment bank ?
- 3 How To Join Paytm Payments Bank ?
- 4 Interest Rate and Benefits of Saving account On Paytm Payments Bank ?
- 5 Limits Of Paytm Payments Bank :
- 6 What happens to my existing Wallet?
- 7 Steps to Enter in Paytm Payments Bank-
- 8 Is Paytm Existing Services (Recharge, shopping etc) Continue ?
What is Paytm Payments Bank ?
Paytm from 23 rd May transfer all their existing users account in to Paytm Payments Bank Limited (PPBL) which is new name of Paytm Bnak . Earlier paytm runs under One 97 Company Name But From 23 rd may it converts in to PPBL. With Paytm bank account you will Get banking Benefits like which your Getting normal banks SBI ,PNB etc .
What Benefits Offer Paytm Payment bank ?
Paytm Bank Offers multiple benefits to its paytm Bank users like Normal banking. It includes Interest on your wallet Amount , Virtual Debit card ,Check Book etc. It also going to Offer financial services such as insurance, loans, Mutual Funds offered by our Paytm partners with the seamless Paytm experience.
How To Join Paytm Payments Bank ?
Joining of Paytm Bank is really simple You have to just create normal account with Paytm and Do Online KYC process to activate your Bank account In KYC you need ADHAAR CARD Number and Mobile Number to verify your identity and instant opening of Paytm Payment Bank account.
If you are existing users or all ready paytm account then Just Do KYC process to open account with Paytm bank and start enjoying paytm bank services .If you don’t do KYC process still You can use Paytm but limitation of rs 20000 Per month limit and no banking benefits.
Interest Rate and Benefits of Saving account On Paytm Payments Bank ?
Interest Rate on Saving account of Paytm is very interesting it is 4 % per Year and Payable monthly .One more good thing with Paytm Bank is their is no minimum balance limit to operate account .Below is the Offer Image which gives you better ideas of offering.
Limits Of Paytm Payments Bank :
Usually if you compare with normal banking it offers same services But Main limitation of Paytm Bank is Payments Banks are not allowed to lend to customers means they will not provide credit cards or loans. However, they can partner with other financial institutions/banks to offer financial products like loans, insurance, mutual funds, pension funds etc.
Also their Bank account Limitation is Rs 1 Lacs It means You can Put maximum 1 lac in your paytm bank account .
What happens to my existing Wallet?
“Your current Paytm Wallet will now move to the Paytm Payments Bank Limited in the same capacity i.e. KYC wallet as KYC wallet and minimum KYC wallet as minimum KYC wallet. You continue to use the Paytm Wallet as before without any changes.”
Steps to Enter in Paytm Payments Bank-
- Login to your Paytm Account.
- Visit – http://paytm.com/bank
- Click on – Request an Invite
- You will be contacted by Paytm for availing that
Is Paytm Existing Services (Recharge, shopping etc) Continue ?
Yes all the existing Paytm services like shopping ,booking services ,recharge are continue normally .From 23 rs May you will get new features of bank also in this existing services .
For More detail answered visit Paytm help Page to know more.
So Guys i Hope You get all the details about Paytm payment bank and Happy to know its all features .Still if you have some query or confusion you can ask here we will solve it ASAP and Let us know what you think about this new development of paytm in comment section also.