Paytm Payments Bank
Paytm Payments Bank launched | Offers 4% interest rate | Paytm savings account
Good News! Paytm Payments Bank has been launched in India. Paytm Payments Bank is India’s first bank with zero fee on online transactions, no minimum balance and free virtual debit card. Physical services like chequebook, demand draft and debit card will be available at a nominal fee, benchmarked to the industry.
How to Open Paytm Payments bank account Online:-
Paytm Payments Bank savings account is currently available only via invitation. You can go invite page and request an invite. Earn an interest of 4% per annum. Link: Click Here!
Interest Rate and Benefits of Saving account On Paytm Payment Bank :-
Intrest Rate on Saving account of Paytm is very interesting it is 4% per Year and Payable monthly .One more good thing with Paytm Bank is their is no minimum balance limit to operate account .Below is the Offer Image which giv you better ideas of offering.
Limits Of Paytm Payment Bank :-
Usually if you compare with normal banking it offers same services But Main limitation of Paytm Bank is Payments Banks are not allowed to lend to customers means they will not provide credit cards or loans. However, they can partner with other financial institutions/banks to offer financial products like loans, insurance, mutual funds, pension funds etc.
Also their Bank account Limitation is Rs 1 Lacs It means You can Put maximum 1 lac in your paytm bank account.
When paytm was announced for opening paytm payment bank they was told they will give 15% interest rate but after launched only giving 4% interest rate. They failled to keep their promise. Other hand India Post Payment Bank giving 5.50% interest rate and Airtel Payment Bank giving 7.25% interest rate. So, why you will use it because there is many good option. My opinion there is no alternative of traditional bank savings account like: ICICI Bank, HDFC Bank, SBI Bank etc. Thank you for reading.