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Paytm Payments Bank Launched: Here's all you need to know

As you already know that RBI has approved the licence of Paytm to transfer its wallet business into the bank & Paytm has given the bank name “Paytm Payments Bank.”

Paytm Payments Bank was officially launched on Tuesday — India’s first bank with zero charges on online transactions, no minimum balance requirement and free virtual debit card.


Finally, Paytm Payment Bank is live in India now, and you can start using the services right from the moment if you are the Paytm KYC verified user.

The Paytm Payments Bank will bring a new banking model to the world where an account holder’s money will be absolutely safe. Deposits will only be invested in government bonds that are used for the development of our nation. Paytm offers an annual interest of 4% for all savings accounts.

Benefits or Advantages of Paytm Payments Bank:

  1. No account fees and charges, there is no minimum balance requirement for the bank account. Even for online transactions (such as IMPS, NEFT, RTGS) will not have any charges
  2. Earn an interest of 4% per annum paid every month
  3. Risk-free deposits
  4. Free Digital RuPay Platinum card, enjoy Platinum benefits such as discounts and cashbacks
  5. Real time updated Passbook
  6. Highly Secure, your account is secured with a unique Paytm Passcode to ensure your account is safe
  7. Get a free insurance cover of up to Rs.2 lakhs in the incident of death or permanent total disability according to the terms and conditions.

For more details visit Paytm’s Bank page.

About Venkatesh Gorantla

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