Paytm Payment Bank Interest Rates

Paytm Payment Bank

Fixed Deposit in PayTM Bank - If your PayTM balance exceeds Rs 1,00,000 at the end of day FD will be created for you for the exceeded amount.

Features of PayTM Fixed Deposit - Maturity period will be 13 months, Interest will be compounded quarterly at the rate of 7.00%. On maturity FD will be auto renewed. Even if FD is redeemed before maturity there will be no charges.

Points to be noted before making FD with PayTM -

  • FDs will be booked with the maturity period that provide higher interest rate.
  • You can redeem Fd anytime and principal would be credited in few months
  • If you redeem FD within 7 days no interest will be paid.
  • Interest will be earned according to the interest rate provided by Indusind Bank. Check the table here

Salient features of Paytm Payments Bank:

  • Interest Rate of 4% on savings account.
  • Paytm Payments bank claims to be the first bank to offer free online transactions such as IMPS/NEFT/UPI. Also it is not stipulating any minimum balance requirement for savings bank account. Plus it is also offering virtual debit card.
  • Physical services like cheque book, demand draft and debit card will be available at a nominal fee, which is not yet disclosed.