How to Apply for Paytm Payments Bank Account?

Paytm has become the leading payment solution company in the past years. With the help of Paytm, one can do mobile recharge, buy goods offline or online. It has more than 150 million of users across India. Therefore, in the short span of time it has gained lots of popularity among people since after Prime Minister Narendra Modi had announced about the demonetisation of the Rs.500 and 1000 notes.

However, recently the company has introduced about Paytm Payment Bank. It is India’s first bank with Zero charges on every online transactions, free virtual debit card and no requirements of minimum balance. But if you are wondering how to apply for Paytm Payment Bank Account then not worry about it. We bring you full guide on how you can apply for Paytm Payment Bank account easily. Let’s get started with it.

What is the Advantages of Paytm Payment Bank?

  • It offers you up to 4% interest for all the saving account which is payable monthly.
  • As per the requirements, the minimum balance must have zero balance and also provide free of charge on every online transactions.
  • It will provide you cheque book, debit card and demand draft as well, which will be available at a nominal fee cost.
  • Lastly, it will also offer you cash back for Rs.250 on every deposits of Rs.25000.

How to Apply for Paytm Payments Bank Account:

Keep in mind, before you open paytm payment bank account you need to first request for the Paytm Bank invite. But once you get the invite then just click on the link given to you and open Paytm bank account. However, after you get the request for the invite then you will see an option for opening bank account and many other ranges of financial services but after completing the KYC and then sign up. That’s it. Are you wondering how send the request for Paytm Payment Bank account right? No worries here are few steps you need to do.

How to Request for Paytm Bank Invite?

  • Firstly, go to the official page of Paytm.com/Bank. Or you can https://paytm.com/bank
  • Once you have visited the page, you will find an option “Request an Invite” and click on it.

  • Now, log in to your Paytm account.

  • Once you logged in the page, you will see a form where you need to fill all your details and then click on Submit button.

After when you have submitted all your details, you will be notified with a “Thank You for your interest in Paytm Payment Bank. We will inform you once your invite is ready”. That’s all you need to do to request for Paytm Bank Invite. Furthermore, you have to proceed in setting up your bank account with Paytm Payment Bank, which is just similar to your existing bank account. Here you will be provided with a demand draft, cheque book, and debit card too.

Now, as per the requirement that we have mention earlier the minimum limits for opening an account; you can open even with zero balance.

Note: As per the standard for Payment Bank, the maximum amount limit is up to 1 Lakh.

Furthermore, Paytm company has also announced that on account of all the online transaction will be provided free of charge which includes NEFT, RTGS and IMPS. Apart from that, they also have announced that they will give Rs. 250 cash back instantly per deposit up to Rs. 25,000 for the first million customers.

Final Verdict:

So, these are the simple steps how to apply for Paytm Payments bank account in the above. Therefore, this way you can easily create an account by following these steps and enjoy all the facilities provided by the Paytm Company. So, what are you waiting for? Be the first million customers and get cash back instantly. Enjoy the benefits of Paytm facilities, but if you are having Paytm wallet already not to worry about it as they will move to the paytm payment bank  and continue using it just like before without any problem.

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