Back in 2017, the popular app Paytm got the permission of Payments Bank service and the company has a good amount of users under this segment. Well, today Paytm announces the dedicated application for the Paytm Payments Bank and that will give seamless and secure access to all the basic and needful banking services.
The Paytm Payments Bank app is a part of the digital inclusion drive and will enable customers to check balance, request for debit cards, access digital debit cards and get 24/7 support from the bank. The company has also revealed that the Paytm it has issued over 20 lakh physical debit cards. Also, it reveals that the virtual debit cards have been issued to all 4.3 crore savings account holders.
Speaking about the Paytm Payments Bank, it will provide an annual interest rate of 4 percent, though it automatically converts the saving account balance into a fixed deposit to offer up to 8 percent interest annually. The app is now available for download from the Google Play store and will soon be available on the Apple App Store as well.