Few months back, Paytm said about the Introduction of Paytm Payments Bank just like any other Bank account which you can refer here and now it is officially launched and users can opt for the option now.
Note : The offer is only for those users who have verified the account with KYC. If your not a KYC verified user, verify it first and proceed. Click here to know how to verify KYC?
How to create Paytm Payments Bank Savings Bank Account? :
1 . Open Playstore app from your device and search for Paytm app or click HERE
2 . Now scroll down and you will see a option "Become a Beta tester", click the "I'M IN" button and wait for few seconds.
3 . After few minutes, you will get an update for the Paytm app. Update the app.
4 . Open Paytm app and on the Home page >> Click on “Bank account“.
5 . Click on “I don’t want to add nominee Now” option and then Enter your Aadhaar card details and Pan card.
6 . Almost done. Complete the rest of the steps.
Opening a Savings account and it's offer :
The first one million customers to open a Payments Bank account and reach a deposit Rs.25,000 will get a cashback of Rs 250 instantly. A User can avail this Offer 4 Times.
Terms and conditions :
1. Paytm Payments Bank account can be opened only by a Resident Indian
2. Paytm Payments Bank is allowed to hold a maximum balance of Rs 1,00,000/- per individual customer at the end of the day i.e. the combined balance of your wallet and savings accounts should not exceed Rs 1,00,000/- at the end of the day
3. There is no minimum balance requirement to open an account with Paytm Payments Bank. Hence, you can open an account with us even with zero balance
4. Paytm Payments Bank is not permitted to offer loans, overdrafts/advances against customer deposits, credit cards, term deposits, recurring deposits, PPF accounts, demat accounts etc. In case we offer such products, they will be powered by our partner institutions
5. Nomination facility is available for all deposit accounts.