We don’t receive interest on the money which is in mobile wallets. But if you do the transaction from Paytm pp then you will interest for 4%. If the deposited money is greater than Rs.1,00,000 then your account will automatically terminate it to fixed deposit and with that, you will be able to get 8% of interest which is more than many banks.
And you can break the fixed deposit with no charges and this kind of benefits are being given to the customer after the launch of Paytm’s Payment Bank Limited. This is a great move by Paytm to make their strong presence among the other banks.
The new app is much diverse than the current app. This is currently accessible for Android User but iOS users will shortly get this. With this app, one can easily utilize the banking facility. This app will also provide the convenience of a digital debit card.
From this app, one can check their balance, account statement and customer care service for 24×7.
Paytm Bank was launched in May 2017, and currently, it has 4.3 crores customers who are using Paytm bank. Facility for the pragmatic debit card will be provided and the card can be blocked within a click to stop any kind of misuses.
Paytm’s Payment Bank CEO Satish Kumar Gupta has said, the motto for this app is to separate from the current app to make easier for the customers to operate.