Paytm played an important role in democratizing access to digital payments for hundreds of millions of Indians ranging from small kirana store-owners and daily wage labourers to organized retail outlets. As millions of Indians experienced the power of convenient digital payments for the first time on Paytm, they have been waiting eagerly for our Bank launch.
This has led to over 10 million customers signing up for a Paytm Payments Bank account in the beta launch.
Our Bank accounts come with no minimum balance requirement and a free RuPay Digital Debit Card. This card comes with a free insurance cover up to Rs. 2 Lacs in case of death or permanent total disability. KYC customers can open a Paytm Payments Bank account instantly on their smartphone.
We will soon partner with Universal Banks and roll out a full bouquet of banking services including term deposits, retail & SME loans.