Paytm India’s popular electronic payment and e-commerce brand has got good news for its subscribers. Paytm Payments Bank will now be offering an Insurance cover of Rs 2 Lakh on its digital credit card on opening a new account.You can open your Paytm Payments Bank account here.
If you open a bank account with Paytm Payments Bank, the bank issues a digital debit card having an Insurance cover of Rs 2 Lakh. The customers will have to complete the KYC formalities after which they will be getting this digital credit card.
Insurance of Rs 200000
Paytm Payments Bank, Managing Director – Mr. Renu Satti said the card will have a Rs 200000 lakh insurance cover and will help customers make online payment easily. Paytm Payments Bank — India’s first bank with zero charges on online transactions, no minimum balance requirement and free virtual debit card.
Paytm Payments Bank (PPB) has partnered with the National Payments Corporation of India (NPCI) to bring value-based digital debit cards. You can use the Paytm Credit Card to make payments to all online merchants like OLA, Amazon, Flipkart etc. as well as other online transactions where money needs to be transferred online.
Best Payments Bank In India
|Maximum Deposit||Rs. 1 Lakh||Rs. 1 Crore||Rs. 1 Lakh||Rs. 1 Lakh|
|Physical Debit Card||No||Yes||No||Yes|
|Digital Debit Card||Yes||No||Yes||No|
|Rate of Interest||4%||7%||7.25%||4.5% on deposits up to Rs. 25,000/-
5% on deposits from Rs. 25,000/- to Rs. 50,000/-
5.5% on deposits from Rs. 50,000/- to Rs. 1,00,000/-
|Transaction Charges||Zero||Zero||0.5% of the transferred amount. Capped at Rs. 50/-||Rs. 2.5/- per transaction up to Rs. 10,000/-
Rs. 5/- per transaction from Rs. 10,001/- up to Rs. 1,00,000/-
|ATM Withdrawal Charges||Rs. 20/- per withdrawal and Rs. 5/- for each mini statement will be charged after free limit ends||Unlimited Free Withdrawals||0.65% on Cash Withdrawals||Rs. 20/- per transaction after free limit ends|
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