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| How can I open a Paytm Payments Bank Savings Account? Full Details |
Paytm Payments Bank offers all the services which it does as a wallet, and additional features like:
- No minimum balance requirement
- All digital transactions are free
- 2.5% Interest per annum on the money deposited in the Savings Account
- Up to 6% interest can be earned on using our Fixed Deposit facility
- Free digital Debit Card on opening the Account
- Physical Debit Card will be available on request
Paytm Payments Bank Account Opening
How can I open a Paytm Payments Bank Account?
To open your Bank Account, kindly follow these simple steps.
- Launch your Paytm App
- Click on the "Bank" icon on the bottom right of your screen
- Set a passcode (if not setup already) and provide nominee details for your account.
- In case you are a Non-KYC customer, you will be prompted to book a KYC appointment
- You will be notified when your account is created
How do I close my Paytm Payments Bank Savings Account?
For closure of your account, you will need to raise a ticket with us from the '24X7 Help' section in the Bank tab of your Paytm App.
If you choose to close your Savings Account only, you will still be able to use your wallet as usual.
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Can I open more than one Paytm Payments Bank Savings Account?
No, only one Savings Account can be opened per customer
Inactive/Dormant Paytm Payments Bank
How does my Paytm Payments Bank account become Inactive/Dormant?
Inactive - An account that has not seen a debit or credit transaction induced by customer or third party, in the last one year is marked as inactive account. Dormant - An account that has not seen a debit or credit transaction induced by customer or third party, in the last two years is marked as dormant account.
How can I re-activate my Inactive Paytm Payments Bank Savings Account?
An inactive account can be converted to active by the customer himself/herself by any one of the following ways:
- By performing any inward or outward transaction. Examples of customers induced transaction are transactions through debit card, standing instruction, NACH, fund transfers, among others. Or,
- By visiting a BC Agent and on successful verification, the account is activated. Kindly check your Paytm Bank App to find the nearest BC agent. Or,
- In case of Aadhaar based users, verification via Aadhaar linked OTP and a live selfie check. Post successful verification, the account is activated.
How can I re-activate my Dormant Paytm Payments Bank Savings Account?
A dormant account is blocked for any inward or outward transactions & hence can be converted to active only after re-verification of identity by visiting a BC Agent. Kindly check your Paytm Bank App to find the nearest BC agent.
My Paytm Payments Bank Saving account is marked Debit Freeze
Why I am not able to do transaction from my Paytm Payments Bank account?
Debit freeze is applied on account
Why debit freeze is applied on my Paytm Payments Bank account?
There is a mis-match between your transaction and your income and profession. Email and notifications were sent to you for updating your income and profession for last 2 month.
Personal Information Paytm Payments Bank
How do I check my account details in Paytm Payments Bank?
To check your account details, follow these simple steps.
- Launch your Paytm App
- Click on the 'Bank' icon at the bottom of your screen
- Enter your bank passcode to access bank section
- You can see your account number and IFSC code under the Savings Account section
How do I check my nominee details in Paytm Payments Bank?
To check your nominee details, follow these simple steps.
- Launch your Paytm App
- Click on the 'Bank' icon at the bottom of your screen
- Enter your bank passcode to access bank section
- Click on 'Account Nominee' under the Bank Account Services section
- Your nominee details will be visible now
How do I add a nominee in Paytm Payments Bank?
In case you have not added a nominee during the account opening process, please follow the steps below:
- Open the Paytm App and click on 'Bank' icon at the bottom of your screen.
- Enter your bank passcode to access bank section.
- Click on "Account Nominee" under the "Bank Account Services" tab
- Enter your 4-digit passcode
- You can now fill in details of the nominee you wish to assign to your Savings Account
Please note that you can have only one nominee for your account and the nominee has to be atleast 18 years of age.
How can I change my nominee in Paytm Payments Bank?
In case you wish to update your nominee, please follow the steps below:
- Open the Paytm App and click on 'Bank' icon at the bottom of your screen
- Click on "Account Nominee" Nominee under the "Bank Account Services" tab
- You can now update/ edit details of the nominee you have already added
- Tap on "save" to save updated details
How do I add my PAN card to my Paytm Payments Bank account?
You can add your PAN number to your account (if not done already) in four simple steps:
- Go to Profile section of Paytm App
- Select 'Edit Profile'
- Enter your PAN card number in the field 'PAN Card'
- Select 'Done' at the top of the screen.
Your PAN number is now saved with us.
Passcode Paytm Payments Bank
What is a passcode?
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.
What is difference between my Paytm Payments Bank password and 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.
I forgot my Paytm Payments Bank passcode. How do I reset it?
We suggest you follow below steps to reset your passcode:
- Click on the menu on the top left corner in your Paytm App and then click on your name to open 'Profile' section
- Scroll down and select the option 'Change Passcode'
- Select the option 'Forgot Paytm Passcode?'
- Enter first four digits of your Aadhaar number. If you have not shared your Aadhaar number, then enter your Paytm Password
- Now enter your new 4-digit numeric passcode
- Re-enter the same passcode and your passcode will be changed successfully
In case you are still unable to reset your passcode, kindly send us a screenshot of the displayed error message.
How do I change my passcode in Paytm Payments Bank?
You can change your passcode by following steps below:
- Click on the menu on top left corner in your paytm app and then click on your name to open ‘Profile’ section
- Scroll down and select the option ‘Change Passcode’
- Enter your current passcode
- Now enter new 4-digit new passcode
- Re-enter the same passcode
Your passcode will be changed successfully.
How do I set my Passcode in Paytm Payments Bank?
If you request for savings account using Paytm App, you set Passcode over there. If you requested savings account while completeting your KYC through our BC point, you can set your passcode by 2 ways:
- Call us at 0120-4456456
- Set/ Change Passcode option in Edit profile section in Paytm app
Services, Fees & Charges Paytm Payments Bank
How much interest will I earn on my Paytm Payments Bank Savings Account?
Your deposit will earn interest of 2.5% p.a. on your Savings Account balance. Interest earned will be added to your Savings Account in the first week of each month.
What happens to my balances above ₹2 lakh in Paytm Payments Bank?
As per the RBI guidelines, you can hold a maximum of ₹2 lakhs in your Paytm Payments Bank account at end of the day. This limit is imposed on the sum of your wallet and Savings Account balances.
Your balance amount exceeding ₹2 lakhs 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.
How do I request a chequebook in Paytm Payments Bank?
We would like to inform you that we are not issuing cheque books anymore however, you can download digital copy of cancelled cheque for your Paytm Payments Bank Account.
Follow these steps below to download digital copy of cancelled cheque:
- Go to bank section in Paytm app and enter your Paytm Bank passcode to login.
- Tap on the 'All Services' option under 'Services' section.
- Scroll down and tap on 'Cancelled Cheque' option under 'Download' section.
You can click 'Download Now' or 'Get PDF on
Please note that this is not an actual cheque leaf and should be used for account verification purpose only. If you need cheque Book for money transfer purposes, we suggest you to use our best-in-class UPI feature.
