Paytm Payments Bank Launched:Interest rate,CEO,Facility all you need to know

Paytm Payments bank is launched on 23 rd march,tuesday at Noida.With the launch of Paytm Payments Bank, there are now three payments bank in the country, including Airtel Payments Bank Ltd and India Post Payments Bank Ltd.Payments bank is a differentiated bank which allows customers to open a savings account for a deposit amount of up to Rs1 lakh.There would be also some physical branches. Renu Satti will be the CEO of Paytm Payments Bank.
Image: paytm payments bank
The Registered office of paytm payments bank is at New Delhi and head office is in Noida.The newly launched Paytm Payments Bank(PPB) is offering 4% interest rate on savings account whereas Its competitor Airtel Payments Bank(APB) is giving 7.25% interest on deposits in savings accounts, while India Post Payments Bank is providing 4.5-5.5% interest on deposits depending on the amount.Paytm Payments Bank will provide Rupay debit card to its customers at an annual subscription cost of Rs100 plus delivery charges.Paytm Payments Bank will provide online fund transfer services.Paytm Payments Bank’s cash withdrawal charges using the ATM is similar to any other major bank of the country.
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