Paytm has launched its Payment Bank. Paytm Payments Bank is now available to all. Now every Paytm Wallet can open a new account in the User Payment Bank.
Do you know what is Paytm Payments Bank - What is Paytm Payments Bank? Do you also want to open an account with Paytm Payments Bank? Do you also want to know how to use Payment Bank? What is the benefit of opening a new Saving Account in Paytm Payments Bank?
If you also want to know the answers to the questions asked above, then read this Tutorial completely. Because in this tutorial we are giving you complete information of Paytm Payments Bank.
First of all, we will tell you a little bit about Paytm Payments Bank. So let's know what is Paytm Payments Bank?
What is Paytm payments bank?
RBI - Reserve Bank of India i.e. Reserve Bank of India has told a new model of banks, which is named Payment Bank. A payment bank, as the name suggests, is a payment bank. Which the customer uses to pay for the services available online.
But, this is a bank, so you can deposit up to 1 lakh rupees in Paytm Payments Bank. Paytm Payments Bank also pays interest on your deposit at the rate of 4% per annum. Most of the work of Payment Bank is digitally ie online.
Payments banks have no physical existence. Therefore, Payment Bank does not provide any financial product like Insurance, Loans, Mutual Funds etc. directly to its customers. But, these banks do provide you the services of Debit Cards, Online Banking and Mobile Banking etc.
Benefits of opening a new account in Paytm Payments Bank:
No Charge or Fees will be taken from the customer for opening a new account in Paytm Payments Bank. You will be able to take advantage of Banking facilities on your phone for free. And online transactions will not have to pay any charge.
Deposits in Paytm Bank are invested in Government Bonds. Therefore, the money deposited in your Saving Account will be absolutely safe.
Interest will be given at the rate of 4% per annum on the Deposits deposited in Paytm Payments Bank. Which will be paid every month.
"Real Time Updated Passbook" facility has been provided by Paytm Payments Bank to its customers. This means that you can immediately see your Transactions and Balance.
5. It is absolutely safe to open a new account with Paytm Payments Bank. Because a "Special Paytm Passbook" is given to the customer while opening a New Saving Account. That's why your Digital Account is completely secure.
Most importantly, you will also be given a "Virtual Digital RuPay Card" to each Saving Account Holder by Payment Bank. Which can be used to do online shopping from merchants accepting RuPay Card.
Apart from this, Permanent Total Disability Cover of 2 lakhs will also be given on opening a Saving Account in Paytm Payments Bank. For which you will have to fulfill some Terms & Conditions.
Conclusion:
In this tutorial we told you what is Paytm Payments Bank? How to use Paytm Payments Bank? How to open a new account in Paytm Payments Bank? And we have included some common questions and answers related to Paytm Payments Bank and Paytm Wallet in this Tutorial.
We hope that this Tutorial will prove useful for you. If you have any questions related to Paytm Payments Bank, then you can tell us through the comment.
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