Paytm Payments Bank is here
Paytm on 23 May 2017 unveiled the Paytm Payments Bank becoming the first bank to offer cashback on deposits. Paytm Payments Bank accounts will initially be available on an invite-only basis. In the first phase, the company will roll out its beta banking app for its employees and associates. Paytm customers can request an invite by going to www.PaytmPaymentsBank.com or on the Paytm iOS app, said a release issued by Paytm. In this Article, I am sharing the guide that How to Open an Account on Paytm Payments Bank 2017.
Customers will also be offered zero charges on all online transactions and no minimum balance requirement.
Paytm Payments Bank will offer Rs. 250 cashback to customers depositing Rs. 25,000 to Payments Bank account.
Let’s Understand the Paytm Payments Bank and the guide How to Open an Account on Paytm Payments Bank.
What is a Payments Bank? How to Open an Account on Paytm Payments Bank.
Payments Bank is a new type of bank, licensed by the Reserve Bank of India. As a Payments Bank, Paytm can now accept customer deposits up to Rs. 1 lakh per customer in a wallet, savings or current account and offer other banking services like Debit Cards, Online Banking, and Mobile Banking.
How can I open a Paytm Payments Bank account?
Paytm will be launching their banking services soon. You will have an option to open a bank account and access a range of other financial services by completing your KYC and signing up digitally.
How is a Payments Bank different from a normal bank?
Payments Banks are not allowed to lend to customers. However, they can partner with other financial institutions/banks to offer financial products like loans, insurance, mutual funds, pension funds etc.
What are the services offered by Paytm Payments Bank?
Paytm Payments Bank will continue to offer paytm wallet. In addition, current accounts for businesses and interest-bearing savings accounts for individuals will be offered by the bank. It will also enable you to access a range of financial services such as insurance, loans, Mutual Funds offered by our partners with the seamless Paytm experience.
Paytm Payments Bank is here
- India’s first bank with cash back on deposits, zero fees on online transactions and zero minimum balance.
- Cashback of INR 250 for all customers who transfer more than INR 25,000 into their Paytm Payments Bank account. Cashback available up to 4 times.
- Physical services like the checkbook, demand draft, and debit card will be available for a nominal fee, benchmarked to the industry.
Paytm Payments Bank becoming the first bank to offer cash back on deposits. Paytm Payments Bank accounts will initially be available on an invite-only basis. If you really like the article How to Open an Account on Paytm Payments Bank Please share it with your friends.