How To Open Paytm Payments Bank Saving Account

Paytm Payments Saving Account-Today, Most of the people wants be to be a part of  "Digital World". Paytm takes a revolutionary efforts in bringing a new digital payments method.On 23rd May this year Paytm had launched "Paytm Payments Bank".As per guided RBI,Paytm users can open their saving account like others government banks open accounts.Payments bank offers digital Rupay debit card for mobile banking,shopping and insurances with partners for their user.
In this article we are going to show you  the benefits of paytm payments bank and steps to create your saving account.

 Features of Paytm Payments Bank:- 

• Zero Balance and charge :- Paytm firstly opens and activate saving accounts at free of cost with a minimum balance of zereo rupee.So there is no issue of deduction of any charge regarding minimum balance.

• Interest:- Paytm pays 4 % interest every month to the Payments Bank users at the last day of month.

• Virtual Rupay Debit card:- Paytm Payments bank provides a virtual debit card to the users,With this card user can add,purchage products and pay bill payments.This card is virtual not physical but soon company will bring physical card to withdraw amount via ATM.

• Maximum limit of Transaction:- Saving account accepts deposit of rupees 1 lakh per cutomer.

• Highly Secure Payments:- Paytm provides an another tremendous feature of PASSCODE for user. With the help of passcode user can create 4 digit pin and make their payment fully secure.

 How To Open Paytm Payments Bank Saving Account

• Firstly download the latest version of Paytm App.
• If You are new paytm customers then signup or if  you are existing customer then go  on login.
• Go to Home section.
• After that on upper section  you can see Bank Account icon click on it. 
• Next first read their terms and conditions and then click on Proceed.
• Next you have to create your Passcode i,e(4 digit pin) for fully secure your's transaction.
• After setting your passcode there,you see two option to full your nominee. if you are suitable to add your nominee then select this first option and fill there whole information or if you are not willing to fill nominee info then select second option.
• While after selecting a suitable option paytm ask for your address details ,Aadhaar number and Name of AAdhaar card holder.After filling all information click on "Request an appointment."
• Then they authenticate your information  for some days when their process got completed then they call to you for your Ekyc.
• After doing kyc you can see that your account is open and also your virtual rupay debit card been generated.

What will happen to my Paytm Wallet ?

Your current wallet will be changed into Paytm Payments Account automatically. However, you can ask to customer support to hold your Paytm Wallet as it is rather than upgrading it to Paytm Payments Account.

But if your Paytm Wallet money has been Zero balance for last Six months. Then if you have opted for Paytm Payments Bank then it'll be converted to Bank account with your consent.