You may know about Paytm Wallet and you have to install Paytm app on your mobile at least once in your life. But few months ago, Paytm had also launched its own in Paytm Payments Bank, In which any person can open his account by sitting at home. The Paytm Payments Bank is similar to the rest of the banks, such as SBI, PNB etc. But the biggest difference here is that the rest of the banks that we get the branch. But Paytm Payment Bank is a virtual bank there is no any branch.
This means that you will be able to open your account with Paytm Payments Bank through your mobile and with the help of your Smartphone you will be able to control the entire account. You will get only one branch in the country of Paytm Payments Bank.
You can control Paytm Payments Bank completely from your mobile. In this bank, you will get all the facilities that you get in other banks. Keep in mind that you can save only up to Rs 100000 in the Paytm Payments Bank account.
What is Paytm Payments Bank?
Paytm Payments Bank is like a bank with no branches, it is a virtual bank that is controlled with the help of your mobile. You do not need to go anywhere to open an account in Paytm Payments Bank. Apart from this, this bank also offers you Debit Card, Check Book, Passbook etc.
At the Paytm Payments Bank, you can deposit up to a maximum amount of up to 100000, besides you are not allowed to take a credit card with this bank. In this bank, you can keep a minimum balance of Rs. 0, if you do not have the minimum balance charge like SBI Aur PNB Bank, you will not be charged separately.
What facilities are given to you in the Paytm Payments Bank?
- In the Paytm Payments Bank, you get almost all the facilities that are available in the rest of the banks. Such asPaytm Payments Bank offers you a debit card, which allows you to withdraw money from any bank’s ATM. If you live in Metro City, then you can withdraw money from any bank’s ATM in free 3 times and if you live in non metro city, then you can withdraw money free from any bank’s ATM for 6 times. You will not need to pay any separate charges for this. You can also use your Paytm Payments bank debit card to make online transactions across India.
- Paytm Payments Bank will give you 4% interest every year. Nowadays big banks such as SBI also do not give you 4% interest.
- In the Paytm Payments Bank, you can also open Savings account like the rest of the banks. However, paytm is also being told that they will also soon provide current account facility.
- Checkbook- You will also be provided checkbook in Paytm Payments Bank.
- Passbook- As you have learned that the Paytm Payments Bank is a virtual bank, this bank’s Passbook is also virtual, meaning that you will be able to see the full transaction on your mobile.
How to open an Account at Paytm Payments Bank
To open an account in Paytm Payments Bank, you only need a mobile number with your Aadhaar card and PAN card number. If you have these things, you will easily be able to open your Paytm Payments Bank account.
If you want to open your account immediately at the Paytm Payments Bank, you must have your e-KYC verification done by any Paytm agent. You can also search the paytm agent with the help of your Paytm App. You will only need your Aadhaar card to get e-KYC verification. You will have to go to a Paytm agent with your Aadhar card and the mobile number on which you want to open your Paytm Payments Bank and it will make your biometric basis verification
And if you are thinking about opening your account staying at home then you will have to wait a bit. You must first apply for Paytm Payments Bank with your paytm app after which you will have to apply for e-KYC verification. After applying, an agent of Paytm will come to your house and will open your account after verification of your e-KYC. But in small cities, the agent comes home after a long time.
Please note that this service is still being offered free by paytm, meaning that you will not have to spend a single rupee to get your Paytm Payments bank account.
In E-KYC biometric verification, it will only take 5 minutes, after verification, a message will be sent to your mobile number. After which if you have not created your account in Paytm App then you will have to create an account on the Paytm app. Make sure to create an account from the same number you have verified for the Paytm Payments Bank.
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After creating an account on the Paytm application, as soon as you open it, you will be asked to enter your PAN card,
After all this, you can apply for Debit Card. You will be 120 for this, which you will pay online. If you have already 120 or more ads in your Paytm wallet, you can also pay this with your Paytm Wallet. It will also be the easiest way to pay. If you want, you can also pay with the help of BHIM UPI or Debit or Credit Card.