Paytm Payments Bank
Savings AccountPaytm will offer all the services which it does as a wallet, and additional features like:
To open your bank account, kindly follow these simple steps.
You can check whether your KYC has been done by following the steps below
By becoming a full KYC verified customer, you can get rid of the ₹10,000 monthly limit. Additionally, you will get the following benefits:
You can become a Paytm full KYC customer through either of the 2 routes given below
Home Visit – Here, a Paytm agent will visit your doorstep as per your convenience for verifying documents. Please follow below steps:
Visit a nearby KYC center – You need to visit a nearby KYC center with your Aadhaar for this. The list of nearby centers can be found here http://m.p-y.tm/nby.
Your KYC can be done via 2 routes:
Biometric – Aadhaar is mandatory for this process. You need to get your Aadhaar verified by a Paytm agent through Home visit channel or Nearby KYC center.
Non-biometric route – You can become a full KYC customer using any of these 5 documents: Aadhaar, Driving License, Passport, Voter ID, NREGA. It may take up to 2 working days to become full KYC customer through this route. PAN will be necessary if you opt for this route.
For closure of your account, you will need to raise a ticket with us from the 'Contact us' section of your Paytm App.
If you choose to close your Savings Account only, you will still be able to use your wallet as usual and enjoy services offered by Paytm.
No, only one Savings Account can be opened per user
Your deposit will earn interest of 4% p.a. on the daily balance of your Savings Account. Interest earned will be added to your Savings Account on the last day of every month.
As per the RBI guidelines, you can hold only a maximum of ₹1 lakh in your Paytm account at end of the day. This limit is imposed on the sum of your wallet and Savings Account balances.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Currently, we are not providing chequebook facility for the Savings Account.
Currently, we are not providing demand draft facility for the Savings Account.
You can add your PAN number to your account (if not done already) in four simple steps:
Your PAN number is now saved with us.
To check your account details, follow these simple steps.
In case you have not added a nominee during the account opening process, please follow the steps below:
Please note that you can have only one nominee for your account and the nominee has to be atleast 18 years of age
To check your nominee details, follow these simple steps.
Currently, we do not allow change of nominee. However, we will provide this option soon.
Paytm passcode is a 4-digit numeric code which acts as an additional security check to authorise access to your bank account details and transactions. This is to ensure a higher level of security for your bank account details and transaction history.
Paytm password is a security check which allows you to login into your Paytm account and make online transactions. It is a combination of alpha-numeric and special characters.
Paytm passcode is a 4-digit numeric code which acts as an additional security check to authorise access to your bank account details or transactions. This is to ensure a higher level of security to your bank account details and transaction history.
If you have forgotten your passcode, you can reset it by following the steps given below
Your passcode has been successfully reset.
Your passcode can be changed by following the steps below
Your passcode has been successfully reset.
Current AccountAs the name suggests, Current account is generally used to facilitate Current transactions for a firm and it is meant to make the day to day banking transactions easier to the current account holder. There will be no restriction on number of transactions during a year unlike in saving bank account. Generally, bank pays no interest on the balance held in the Current account.
Yes. With PPBL Current Account, you will be offered a customized debit card which is acceptable at all ATMs pan India.
Paytm passcode is a 4-digit numeric code which acts as an additional security check to authorise access to your bank account details and transactions. This is to ensure a higher level of security for your bank account details and transaction history.
Your netbanking panel password is the same as the paytm account password. If you aren't regsitered with paytm yet, create a paytm account with your registered netbanking mobile number to start using your netbanking panel.
When you login first time on panel , you will be prompted to set your 4 digit passcode.
Paytm password is a security check which allows you to login into your Paytm account and make online transactions. It is a combination of alpha-numeric and special characters.
Paytm passcode is a 4-digit numeric code which acts as an additional security check to authorise access to your bank account details or transactions. This is to ensure a higher level of security to your bank account details and transaction history.
Incase you have forgotten your passcode, you can visit the Manage profile section of your netbanking panel to reset it- You will be asked for your basic aadhar details to the reset the same.
You can always reset your passcode by visiting the Mange profile section of the netbanking Panel - You simply need to enter your current passcode to generate a new one.
As per the RBI guidelines, you can hold only a maximum of ₹1 lakh in your Paytm current account at end of the day. This limit is imposed on the sum of your wallet balance, savings account balance and current account balance.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Total balance in your Current Account is the sum of Current Account balance and FD invested.
To process the transaction, first you have to redeem the FD and initiate the transaction again.
As per RBI guidelines, Paytm bank is not allowed to retain funds exceeding 1 lakh in your Current Account.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Any user with the role “Create_only” can request the FD redemption process.
Upon proper authorization, the selected FDs will be redeem and FD sum will be added to your balance instantaneously.
Yes, the money in your Fixed Deposit can be used once you redeem the amount and it is transferred to your Savings Account.
Today's FD creation rate table can be found here - http://www.indusind.com/footer/rates.html.
The interest earned is calculated according to the interest table of the IndusInd bank as applicable on the date of creation of FD.
We currently do not have an automatic sweep in facility for the fixed deposit. Creator can raise the redemption request and upon proper approval, FD will be redeemed instantaneously.
PassbookPlease follow the given steps to view your Savings Account passbook
We send your monthly statement on your registered mail ID at the end of each month. We will providing you the facility of statement on demand soon
Total balance is your balance across wallets and Savings Account. Debit Card can be used only on money kept in Savings Account.
As per the RBI guidelines, you can hold only a maximum of ₹1 lakh in your Paytm account at end of the day. This limit is imposed on the sum of your wallet and Savings Account balances.
Your balance amount exceeding ₹1 lakh is moved to a Fixed Deposit with our partner bank, IndusInd Bank, where you earn interest as per rates offered by them. You may redeem the amount in the Fixed Deposit at any time free of charge.
Yes, the money in your Fixed Deposit can be used once you redeem the amount and it is transferred to your Savings Account.
Please follow the given steps to close your Fixed deposit
Today's FD creation rate table can be found here - http://www.indusind.com/footer/rates.html.
The interest earned is calculated according to the interest table of the IndusInd bank as applicable on the date of creation of FD.
Currently, we do not provide an interest certificate. We will provide you with this feature shortly.
Banks are required to deduct tax at source (TDS) on deposits if the total interest earned on all the fixed deposits/recurring deposits in a bank(at all branches of the bank) is more than 10K in a financial year.
If the total income for a customer(in a Financial Year) is below the taxation limits, the customer can submit Form-15G/15H requesting the bank not to deduct any TDS on the interest earned.
We currently do not have an automatic sweep in facility for the fixed deposit. Please redeem the FD using the steps given below
Debit CardOnce your Card has been delivered to you, it can be activated by scanning the QR code on the back of your card from your Paytm App. We have listed the steps below.
Your Debit & ATM Card will be activated
Your ATM PIN will be available to you only in case you have ordered a physical card. In case you would like to reset your PIN, please follow the steps below
Your ATM Card PIN will be changed successfully
Your ATM PIN will be available to you only in case you have ordered a physical card. In case you would like to reset your PIN, please follow the steps below
Your ATM Card PIN will be changed successfully
Please follow the given steps to block your card
You can unblock it any time using the 'Unblock Card' option
Your card can be unblocked only if you have blocked it previously. Please follow the given steps to block your card
Your card will be unblocked on entering the passcode
On opening Savings Account, you will get a Digital Debit Card. To apply for a physical Card, kindly follow the steps below
You will be able to track the delivery status of your card through your App
Please refer our rates and charges: http://www.paytmbank.com/ratesCharges.html
In case you have placed an order for a Debit & ATM Card, kindly follow the steps below to track the delivery status
Your Paytm Payments Bank Savings Account comes with a digital Debit Card that you can use to make payments on all online platforms where Debit Cards are accepted. You have the option to order the physical card which can be used to withdraw cash from ATMs and to shop at most stores across India. This card is currently issued in partnership with RuPay.
Digital Debit Card is issued to you upon opening of Savings Account. Digital Debit Card can be used across all online platforms for transactions. On request, you can also get Debit & ATM Card with the same number as digital card. This card can be used for withdrawing cash from ATMs and also to shop at most stores across India.
Please follow the steps below to view your card details
On entering your passcode, you can view your card number, expiry date and CVV number.
The Debit & ATM card can be used only to spend money available in the Savings Account.
The Debit & ATM card is accepted only on merchants in India.
The withdrawal limits at ATM are ₹50,000 per transaction and per day, subject to limits set by other banks.
The spending limits at POS are ₹2,00,000 per transaction and per day.
Please refer our rates and charges: http://www.paytmbank.com/ratesCharges.html
In case you have lost your Debit & ATM Card, you should block your card using your App. The steps are given below.
Following this, kindly raise a request with us to have your card blocked permanently. Your card will be blocked and a new Digital Debit Card will be issued to your account. Once that is issued, you can apply for a new Debit & ATM Card.
You can get in touch with us through your Paytm App or call 011 33996699.
You can receive money using your Debit & ATM Card by allowing the payer to scan the QR code on the back of your Debit & ATM Card. Once the QR code is scanned and money is sent, you will receive the amount in your bank account or wallet instantly.
Add MoneyYou can add money to your Paytm Payments Bank Savings Account by using "Add Money" option on the bank homepage. You can add money from:
You can also deposit cash into your account at any of our Banking outlets.
There is no limit on the amount of money you can add to your Savings Account. Balance amount at the end of the day in excess of ₹1 lakh is moved to a Fixed Deposit with our partner Bank, IndusInd Bank. This will be visible in your Passbook. This amount can be redeemed at any time without any charge
Yes, you can send money to your Savings Account from your wallet at 3% transfer fee.
No, there are no charges for adding money to your Savings Account.
Yes you can send money to your Savings Account from your wallet.
No, currently we are not providing the facility of accepting a cheque. However, our team is working on it to introduce new features and facilities for our customers. We will keep you updated.
No, currently we are not providing the facility of accepting a Demand Draft. However, our team is working on it to introduce new features and facilities for our customers. We will keep you updated.
Bank TransferYou can transfer money to other accounts from your Savings Account by clicking on the Bank Transfer icon on the Paytm or Bank Homepage.
The steps for transferring money to other accounts are given below
You can use 'Add Money' option on our App and web to add the money in your wallet. Please follow the steps below
You will get a confirmation for the funds added to your wallet
BHIM UPIBHIM UPI (Unified Payment Interface) is a mobile payment mode that enables you to create a UPI address linked to a bank account and then send or receive money using it. Additionally, you can also make payments to online merchants and outlets who accept BHIM UPI as a payment mode for transactions.
UPI address (also called Virtual Payment Address or VPA) is a unique identifier you can create in order to send and accept money via UPI. Once a UPI address is created and mapped against your bank account, you can simply share your UPI address (eg. abc@paytm) with the payer. Once the payer enters your UPI address and sends the money via UPI, it will be added to your account without having to enter any of your other bank details.
UPI PIN is a 4 or 6 digit PIN that can be used for authenticating your UPI transactions. Your UPI PIN will be validated by the bank whose account you are using to pay with. The UPI PIN is different for different bank accounts.
UPI address or VPA, can be created when you register for UPI on Paytm App.
You can add bank account to your UPI address by following the below-mentioned steps.
As your bank doesn’t support UPI, you will not be able to add or link your bank account. We keep our list of banks updated.
Your bank account must be registered for mobile banking with the same mobile number with which you are registered on Paytm.
There is no limit on the number of bank accounts that you can add.
Paytm wallet cannot be added to your UPI address. Hence, you will not be able to use your Paytm wallet balance for your UPI payments/transactions.
Your Paytm Bank UPI PIN is different from your password or passcode. Your Paytm Bank UPI PIN can be used for paying with your Paytm bank account across all UPI apps.
Your Paytm password helps you login to your Paytm account, and your Paytm passcode is used to authenticate certain transactions and activity that you do on Paytm App.
You can set your UPI PIN by following the below-mentioned steps.
You can change the default account by following the below-mentioned steps.
You can send money using UPI by using the beneficiary’s UPI address or account number and IFSC. Kindly follow the below-mentioned steps to send money using UPI.
You can request money from another user using UPI by following the below-mentioned steps.
Kindly follow the below-mentioned steps to approve or decline a payment sent to you.
If someone sends you money to your UPI address, the amount will be credited to your default credit account. To change your default credit account, kindly follow the below-mentioned steps.
You can send upto Rs 1 lac in a single transaction using UPI.
There are no charges for transferring money using UPI.
You can set a maximum expiry of 45 days while requesting money.
In order to secure your transactions, we verify the mobile number and device that you used when you registered for UPI on Paytm. If you wish to use a different device to transact using UPI, you will need to complete the mobile number verification process that will be prompted on App. Your new device should have the SIM card of the mobile number with which you are registered on Paytm.
Kindly follow the below-mentioned steps to check your past UPI transactions in your Paytm App.
Yes, you can send money to someone using his Aadhaar number. To send money to a user using his/her Aadhaar number, kindly follow the below-mentioned steps.
Yes you can pay any online merchant who accepts UPI payments using your Paytm UPI address. In case the merchant accepts UPI as a payment mode, kindly follow the below-mentioned steps to complete your transaction.
Please check your bank account statement to see whether the amount was added back. In case the amount has not been added, we recommend to wait for 2 working days, within which the bank should add the money back to your account. In case money has not been added within 2 working days, please reach out to us.
We recommend you to wait for 2 working days, within which the bank should add the money to the beneficiary account or reverse the same to the sender’s account. In case money has not been added within 2 working days, please reach out to us.
You can send money to a Adhaar number only if you have registered your Aadhaar number with your bank account. In case you have multiple bank accounts where you have registered your Aadhaar number, the money will be added to the bank account where you had registered the Adhaar number last.
Alternatively, you will also have the option to choose the name of the bank on whose account you want to send the money.
In case you had not registered your Aadhaar number with your bank account, or your bank does not support the functionality, your payment will fail.
