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Paytm launches Payments Bank; here’s everything you need to know

After Airtel’s Payments Bank and India Post Payments Bank, now Paytm rolled out with its own Payments Bank service in India. The company offers 4% annual interest, let’s find out more about it.



With the Paytm Payments Bank, you can open savings account and you can earn 4% annually. Paytm also gives free cash back of ₹250, when you deposit ₹25,000. The company also gives services like Checkbook, Demand Draft and debit card in a nominal charge. The Paytm Payments Bank also provides Rupay debit card to the customers, and for that the bank will charge ₹100 (plus cost of delivery).


The first branch is opened in Noida, the company will expand its branches to more parts of the country, Paytm is targetting 500 million customers by 2020. Paytm setting up KYC centers across the country, to help customers get KYC done and get the account.


Right now, the Payments Bank is an invite basis and to click the button below. Or update the Paytm app.



Also check out our article on Paytm rolls back 2% free for loading wallet through Credit Card. And many other interesting news and tips & tricks on our website.


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Source: Paytm Blog

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