Paytm Payments Bank Is Offering 4% Interest Rate On Saving Account
Hello guys, earticleblog is back with the news for all the Paytm Lovers. As we have revealed that Paytm has announced to open Paytm payments Bank from 23rd May 2016. It is a good news for all the Paytm account holder as now Paytm will give more benefits like Interest on Paytm wallet Balance, Debit card, cheque book etc.
On Tuesday, Paytm Payments Bank Ltd rolled out its banking operations. After the launch of Paytm Payments Bank, now there is three payments bank in India, including Airtel Payments Bank Ltd and India Post Payments Bank Ltd.
Payments bank is a different bank which allows the customers to open a saving account for a deposit amount of Rs. 1 Lakh. For now, the Paytm Payment Bank is offering the service by invitation only.
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Paytm Payments Bank Interest Rate
So the Paytm Payments Bank which is newly launched is offering 4% interest rate on savings account. The Competitor Airtel Payment Bank is giving 7.25% interest on deposits. India Post Payments Bank is giving 5.5% interest on depositing the amount. While India’s Major Private & government Banks Giving Only Interest up to 6%.No Body is providing this Interest rate in India with this free features. So this is a good opportunity for Indian Citizens.
The Popular Chinese Soft Bank funded 1.4 Billion Dollars to Kick off the Paytm Payments Bank Operation. Finally, RBI has approved Paytm to open a bank in India as they also have 200+ Million active users.
Paytm Bank’s interest rate is in line with all the large commercial banks, including State Bank of India, Bank of Baroda and ICICI Bank Ltd. They give 4% interest rate on saving account. The other banks, including Yes Bank Ltd and RBL Bank Ltd, offers 5.5-7.1% interest rate on savings accounts, depending on the deposit amount.
India Post Payments Bank is offering three kinds of accounts: one regular and two basic savings bank deposit accounts. Check Out whats on offer.
|Paytm Payments Bank|
|Online Fund Transfer||Free|
|Debit Card Annual Subscription Fee||Rs 100 + Delivery Charges|
|ATM Transaction||3 Free For Metros, 5 free for non-metros Post Free Transaction, Rs 20 for cash withdrawal|
|India Post Payments Bank|
|Branch Banking||4 Free Transactions, after that Rs 20 Per transaction|
|ATM Transaction||Free At India Post, Punjab National Bank ATM's Other ATM's: 3 free for Metros, 5 free for non-metros After that, Rs 20 for cash withdrawal|
|Account Closure within 6 months||Rs 250|
|Online Fund Transfer||Rs 2.50-5.00 for NEFT, IMPS at Bank branch|
|Cash Withdrawal for doorstep banking||Rs 15-35 depending on amount|
|Airtel Payments Bank|
|Interest Rate||7.25 %|
|Cash Withdrawal||0.65% of the amount|
|Online Fund Transfer to another bank||0.5% of the amount|
|Minimum Amount for first cash deposit||Rs 100|
How To Deactivate/Delete/Remove Paytm Bank Account
The users who want to stop the service then Contact Support Team and enter your Bank account Details to get the money which will be done in 15 days.
The Features & Benefits
- 0 Balance Savings account.
- High-interest rate.
- In just 1 Minute open the account Online. In Banks, we need to wait for many days.
- With this account, you will get debit card, Cheque Book, Check online Transactions History
- Anytime you can Close Your account and will get back your Money on Any bank account.
- No any transaction Charges on Neft, Upi, Imps.
Now Paytm is very Good Platform to grow your Money Fast. If you will deposit Rs. 1 Lakh for a year then approximately you will earn Rs. 14,000 in a year. Any Mutual Investments, Bank will not Give you this Interest Rate.
How To Open/Apply/Transfer Paytm Payments Bank Account Online
- If you are a Paytm User then your account has automatically transferred to Bank account.
- If you don’t have Paytm wallet account then Open Now Using New User offer to grab Free cash.
- You will get all the Benefits if you Verify Your account Using KYC Documents.
- You can also Open Your Paytm bank account Offline by Visiting Nearest Paytm Office.
Paytm Payments Bank Details
|Launch Date||23rd May 2017|
|Interest Rate||14.5% **|
|Savings Limit||₹1 lac|
|Transaction Fee||No charges|
|Minimum Deposit||Rs. 0
|Maximum Deposit||1 lac|
How To Convert Paytm Wallet To Payments Bank Account
- If you are already a Paytm user then your wallet will automatically be converted in a bank account.
- All of your money will be deposited in Paytm Payments bank.
- In Past 6 months if you haven’t made any transaction then you can’t convert your account.
- Your account must be 6 Months Old.
- If your account is not verified then you can only make Rs. 20,000 per month transactions to enjoy full features.
So, guys, I hope you liked this article. Go through this and become a Paytm Payments Bank Member.
Stay tuned to us for more updates.