Paytm Payments Bank: Know everything about ATM Transactions, Online Fund Transfers & Other Details

Paytm Payments Bank: Know everything about ATM Transactions, Online Fund Transfers

On 23rd May, 2017, Paytm has launched its Paytm Bank called Paytm Payments Bank. Its first branch is opened in Noida. On January, 2017, RBI has approved Paytm Payments Bank. Paytm offers 250 cashback on 25,000 deposit for the first million customers.

Paytm Payments Bank
Paytm Payments Bank

Paytm Bank have only one standard savings account for all customers. It doesn’t have different types of savings account like other traditional banks. Company is aiming to acquire 500 million Payments Bank customers by 2020. Company will also open 31 branches and 3,000 customer service centers by 2020.

READ MORE: Paytm Bank: How to Open, Close or Get Instant Cashback & Other Details

Paytm Payments Bank Charges

Minimum Account BalanceNil
Interest Rate4% per annum
Deposit Limit1 Lakh
Online Fund Transfer
NEFTFree unlimited
IMPSFree unlimited
UPIFree unlimited
ATM Transactions
Metro Cities3 tansactions free every month, after that
• cash withdrawl: 20/txn
• balance check, mini statement: 5/txn
non-Metro Cities5 tansactions free every month, after that
• cash withdrawl: 20/txn
• balance check, mini statement: 5/txn
Debit Card & Chequebook
Virtual Debit CardFree
Physical RuPay Debit Card (annual) 100 + delivery charge
Replacement of Lost Card 100 + delivery charge
Cheque book (10 leaves) 100 + delivery charge
Statement
Online PassbookFree
Email StatementsFree
Physical Statements 50 + delivery charge

“RBI has given us an opportunity to create a new kind of banking model in the world. We are proud that our customer deposits will be safely invested in government bonds and used for nation building. None of our deposits will be converted into risky assets.” – Vijay Sharma

READ MORE: Paytm Digital Gold in association with MMTC-PAMP

Nishant Patil

Freelance Web Developer