Navigate the digital banking world like Airtel Payments Bank, Paytm Payments Bank, Fino Payments Bank, India Post Payments Bank, Jio Payments Bank, NSDL Payments Bank.
All offering features like free savings accounts, secure UPI payments, mobile recharge, bill payments, debit cards, and attractive interest rates.
- Loans and Credit Cards: Regular banks offer them, Payment banks can’t.
- Savings Account Limits: Regular banks usually have higher limits, Payment banks max out at ₹2 lakh.
- Interest Rates: Similar for both types of banks.
- Fixed Deposits: Regular banks offer them, Payment banks can’t.
Imagine a bank that’s smaller, friendlier, and focuses on helping people who haven’t had easy access to banking before. That’s what Payment Banks are all about!
List of Payment Banks in India
| S.No. | Name of Bank | Headquarters | Features |
|---|---|---|---|
| 1 | Airtel Payment Bank | New Delhi | First payment bank in India (Jan 2017) |
| 2 | Fino Payment Bank | Mumbai, Maharashtra | Incorporated in April 2017 |
| 3 | India Post Payment Bank | New Delhi | Launched in September 2018 |
| 4 | Paytm Payment Bank | Noida, Uttar Pradesh | India's first mobile bank with zero balance/transaction charges |
| 5 | NSDL Payment Bank | Mumbai, Maharashtra | Established in 2018 |
| 6 | Jio Payment Bank | Navi Mumbai, Maharashtra | Sixth payment bank in India |
Payments Bank Limits
- UPI:
- Daily limit: ₹1 lakh (per account, every 24 hours).
- Per transaction limit: ₹1 lakh.
- Maximum number of transactions per day: 20
- Cash withdrawal at ATM:
- Per day limit: ₹25,000 (including ₹5,000 at Micro-ATMs).
Balance Limits:
- Maximum account balance: ₹2 lakh (at the end of the day). Any amount exceeding this limit is automatically transferred to a fixed deposit with IndusInd Bank, where you earn interest.
Paytm Payment Bank
Paytm Payment Bank is a payments bank in India, founded in 2017 by Vijay Shekhar Sharma. It is a subsidiary of Paytm, a digital payments company. Paytm Payment Bank offers a wide range of banking services, including savings accounts, current accounts, debit cards, mobile banking, and money transfers.
key features of Paytm Payment Bank
- No account fees or charges
- Free virtual debit card
- Earn interest(2% per annum) on your savings account
- Real-time updated passbook
- Highly secure
Paytm Payments Bank FAQ'S
How to Open a Paytm zero balance Payments Bank account
- Download the latest version of the Paytm app: Ensure you have the latest version downloaded for a smooth experience.
- Locate and select “Paytm Bank”: On the app’s homepage, look for the Paytm Bank icon or section.
- Select “Open a Savings Account”: This will initiate the account opening process.
- Set a strong passcode and confirm it: Choose a secure passcode for your account access.
- Enter nominee’s information (optional): You can add a nominee if desired.
- Click “Proceed” to complete the process: Your account will be created, and you’ll receive confirmation.
What is the minimum balance in Paytm?
- Paytm payment bank open account minimum balance is 0
IFSC code for Paytm Payments Bank
PYTM0000001, PYTM0123456
Check in Your App For Your IFSC Code
Key points:
- It’s used for IMPS (Immediate Payment Service) transfers.
- It’s not branch-specific, as Paytm Payments Bank operates digitally.
Paytm Payment Bank Interest Rate
1. Savings Account:
- Offers a 2% per annum interest rate on your balance, payable monthly.
- Interest calculated on daily closing balance.
- Interest credited to your account in the first week of each month.
2. Fixed Deposits (FDs):
- Interest rates range from 3.50% to 7.50% per annum depending on the FD tenure.
- Minimum FD amount is ₹100.
- FDs can be opened for tenures ranging from 7 days to 365 days.
- Premature withdrawals are allowed with penalty charges.
- Interest earned on maturity is credited to your account.
paytm payment bank customer care number
1. Phone:
- 24/7 Customer Care Number: 0120-4456-456 (This is the fastest way to reach a representative.)
2. App:
- Open the Paytm app and tap on “Help & Support.”
- Search for your issue or browse through the FAQs.
- If you can’t find what you’re looking for, tap “Chat with us” to connect with a representative via chat.
3. Website:
- Visit the Paytm Payments Bank website and click on “Contact Us.”
- Fill out the form with your query and submit it. A representative will get back to you within 24 hours.
4. Social Media:
- You can also reach Paytm Payments Bank customer care on Twitter, Facebook, and Instagram.
Airtel Payments Bank
Airtel Payments Bank, launched in 2010, is a leading payment bank in India and a subsidiary of the telecom giant, Bharti Airtel. It caters to both individuals and businesses, offering a range of convenient and accessible financial services.
Key Features:
- Extensive Network: Leverage Airtel’s vast network for seamless banking through over 5 lakh banking points across India.
- Seamless Mobile Banking: Manage your finances on the go with their user-friendly app, offering features like bill payments, recharges, and money transfers.
- Free Visa Debit Card: Enjoy cashless transactions and online shopping with a free virtual debit card, with the option to order a physical card as well.
- Interest on Savings: Earn a competitive interest rate (2.5% per annum) on your savings account.
- Safe and Secure: Your money is in good hands with secure transactions and investments in government bonds.
Airtel Payments Bank FAQ'S
How to Open a Airtel Payments Bank account
1. Online through the Airtel Thanks app:
- Download or update the Airtel Thanks app on your smartphone.
- Open the app and log in with your Airtel mobile number.
- Locate the “Airtel Payments Bank” section or icon.
- Select “Open a Savings Account”.
- Follow the on-screen instructions, which will involve:
- Entering your personal details like name, address, and date of birth.
- Providing KYC (Know Your Customer) documents like PAN card and Aadhaar card.
- Setting a strong passcode for your account.
- Completing a video KYC verification if necessary.
- Once approved, your account will be activated, and you’ll receive confirmation.
2. Offline at an Airtel banking point:
- Locate the nearest Airtel banking point using the app or website.
- Visit the banking point with your valid KYC documents (PAN card and Aadhaar card).
- Inform the staff you want to open an Airtel Payments Bank account.
- Fill out the account opening form provided by the staff.
- Submit your KYC documents and any other required documents.
- The staff will guide you through the verification process and account activation.
What is the minimum balance in Airtel payment bank?
- Airtel payment bank open account minimum balance is 0
IFSC code for Airtel Payments Bank
The IFSC code for Airtel Payments Bank is AIRP0000001. This code is the same for all accounts across India, regardless of the branch where you opened your account.
Check Your App For Your IFSC Code
Airtel Payment Bank Interest Rate
1. Savings Account:
- Offers a 2.5% per annum interest rate on your balance, payable monthly.
- Interest calculated on daily closing balance.
- Interest credited to your account in the first week of each month.
2. Fixed Deposits (FDs):
- Interest rates range from 3.50% to 7.50% per annum depending on the FD tenure.
- Minimum FD amount is ₹100.
- FDs can be opened for tenures ranging from 7 days to 365 days.
- Premature withdrawals are allowed with penalty charges.
- Interest earned on maturity is credited to your account.
Airtel payment bank customer care number
1. Phone:
- 24/7 Customer Care Number: 121 (toll-free from Airtel mobile, chargeable for other networks)
- Toll-free Number: 400 (available nationwide)
2. App:
- Open the Airtel Thanks app and tap on “Help & Support.”
- Search for your issue or browse through the FAQs.
- If you can’t find what you’re looking for, tap on the “Chat with us” button to connect with a representative via chat.
3. Website:
- Visit the Airtel Payments Bank website and click on “Contact Us.”
- Fill out the form with your query and submit it. A representative will get back to you within 24 hours.
4. Social Media:
- You can also reach Airtel Payments Bank customer care on Twitter, Facebook, and Instagram.
Fino Payments Bank
Born in 2017, Fino’s mission is clear: bring banking closer to the millions who lack access to traditional banks. They operate across 724k outlets, reaching even the most remote villages. So, whether you’re a farmer in Bihar or a shopkeeper in Rajasthan, Fino brings banking to your doorstep.
Key Features:
- Rural Reach: With a strong presence in rural areas and small towns, Fino brings banking closer to where you live and work. No more long journeys to the nearest city branch!
- Simple & Straightforward: Forget complex paperwork and jargon. Fino focuses on basic banking services like savings accounts, money transfers, and debit cards, making it easy to manage your money.
- Financial Inclusion Champion: Fino believes everyone deserves access to financial services. They offer easy account opening processes and cater to low-income households and migrant workers who may have previously been excluded from the banking system.
- Tech-Savvy Solutions: Embrace the digital age with Fino’s user-friendly mobile app. Manage your finances on the go, check your balance, and make transactions, all at your fingertips.
- Financial Literacy Advocate: Fino goes beyond banking, offering financial literacy programs and workshops to empower their customers and make informed financial decisions.
Fino Payments Bank FAQ'S
How to Open a Fino Payments Bank account
1. Through the FinoPay App:
- Download the FinoPay app from the Google Play Store or Apple App Store.
- Select “Digital A/c Opening” on the app’s homepage.
- Follow the on-screen instructions, which will involve entering your details, providing KYC documents, and setting up your account preferences.
- Once approved, your account will be activated, and you can start using it.
2. Visiting a Fino Payments Bank Branch:
- Locate a Fino Payments Bank branch near you using their website or app.
- A customer service representative will guide you through the account opening process, which involves filling out forms, submitting KYC documents, and providing initial deposits.
- Once approved, your account will be activated, and you can receive your debit card and other necessary materials.
3. Visiting a Fino Payments Bank Merchant Point:
- Locate a Fino Payments Bank merchant point near you using their website or app.
- The merchant point representative can assist you with the account opening process, similar to a branch visit.
- You may need to provide additional information and complete KYC verification steps.
- Once approved, your account will be activated, and you can start using it.
What is the minimum balance in Fino payment bank?
- Fino payment bank open account minimum balance is 0
IFSC code for Fino Payments Bank
The IFSC code for Fino Payments Bank is FINO0000001. This code is the same for all accounts across India, regardless of the branch where you opened your account.
Check Your App For Your IFSC Code
Fino Payment Bank Interest Rate
Savings Account:
- Base interest rate: 2.75% p.a. on balance up to ₹2 lakh.
- Shubh Savings Account:
- Up to 7.50% p.a. on the entire balance if you utilize the Sweep facility.
- 3.00% p.a. on the balance up to ₹1 lakh if you don’t use the Sweep facility.
- 5.00% p.a. on the balance exceeding ₹1 lakh if you don’t use the Sweep facility.
Fixed Deposits (FDs):
- Interest rates range from 3.50% to 7.50% p.a. depending on the FD tenure.
Fino payment bank customer care number
Phone:
- Toll-free number: 1800-103-1171 (available 24/7)
App:
- Open the FinoPay app and navigate to the “Help & Support” section.
- Search for your issue or browse through the FAQs.
- If you can’t find what you’re looking for, tap on the “Chat with us” button to connect with a representative via chat.
Website:
- Visit the Fino Payments Bank website (https://www.finobank.com/) and click on “Contact Us.”
- Fill out the form with your query and submit it. A representative will get back to you within 24 hours.
Social Media:
- You can also reach Fino Payments Bank customer care on Twitter, Facebook, and Instagram.
India Post Payments Bank (IPPB)
India Post Payments Bank (IPPB) is another major player in the payment bank space in India. Launched in 2018, it leverages the vast network of the Indian Post, making banking services accessible in even the remotest corners of the country.
Key Features:
- Savings Accounts: Open an account with minimal documentation and enjoy interest rates competitive with traditional banks.
- Money Transfers: Send and receive money easily through Aadhaar-based payments (AEPS), mobile banking, or at post offices.
- Bill Payments: Pay utility bills, mobile recharges, and other dues directly through your IPPB account.
- Micro Insurance: Access affordable insurance options like life insurance and accident cover.
- Micro Pensions: Save for your future with convenient pension schemes available through IPPB.
India post payments bank balance check number
- SMSSend “BAL” to 7738062873. To use SMS banking, you must first register your mobile number by sending “REGISTER” to 7738062873.
- Missed callMake a missed call to 8424046556. To register your mobile number for missed call banking, you can give a missed call to 8424054994 from the mobile number linked to your account.
- Phone bankingCall 155299 to get information about your account, products, and services, and to resolve queries.
India Post Payments Bank FAQ'S
How to Open a India Post Payments Bank account
1. Through the IPPB Mobile App:
- Download the IPPB app from the Google Play Store or Apple App Store.
- Select “New Customer Registration” and follow the on-screen instructions.
- Enter your Aadhaar card details and verify them through OTP.
- Provide your personal information and set your account preferences.
- Choose the “Digital Savings Account” option for instant online account activation.
- For a “Regular Savings Account,” complete KYC verification through a video call or visit a post office.
2. Visiting an India Post Office:
- Locate your nearest India Post office using their website or app.
- Approach the banking counter and express your interest in opening an IPPB account.
- A staff member will guide you through the application process, including filling out forms and submitting KYC documents like Aadhaar and PAN card.
- Depending on your choice, you can open a “Digital Savings Account” for immediate activation or a “Regular Savings Account” with full KYC verification.
What is the minimum balance in India Post payment bank?
- India Post payment bank open account minimum balance is 0
IFSC code for India Post Payments Bank
The IFSC code for India Post Payments Bank is IPOS0000001. This single code applies to all accounts across India, regardless of the branch where you opened your account.
Check Your App For Your IFSC Code
India Post Payment Bank Interest Rate
Savings Account:
- 2.00% per annum for balances up to INR 1 lakh.
- 2.25% per annum for balances exceeding INR 1 lakh and up to INR 2 lakh.
- Interest is calculated daily and credited quarterly.
India Post payment bank customer care number
Phone:
- 24/7 Toll-free Customer Care Number: 155299
- Alternatively: 1800-425-3636 (toll-charged number)
App:
- Open the IPPB app and go to the “Help & Support” section.
- Search for your issue or browse through the FAQs.
- If you can’t find what you’re looking for, tap on the “Chat with us” button to connect with a representative via chat.
Website:
- Visit the India Post Payments Bank website (https://www.ippbonline.com) and click on “Contact Us.”
- Fill out the form with your query and submit it. A representative will get back to you within 24 hours.
Social Media:
- You can also reach India Post Payments Bank customer care on Twitter, Facebook, and Instagram.
NSDL Payment Bank
NSDL Payment Bank, established in 2018, might not be the flashiest name, but don’t let that fool you. Backed by the National Securities Depository Limited (NSDL), a trusted name in the financial world, it offers a secure and straightforward approach to managing your everyday banking needs.
Key Features:
- Security First: Your money is in good hands with NSDL’s expertise in safeguarding financial assets. They invest deposits primarily in government securities, minimizing risk and maximizing stability.
- Simple and Convenient: No need for complex paperwork or hefty minimum balances. Open an account seamlessly through the NSDL Jiffy app or website, and enjoy the convenience of mobile banking for everyday transactions.
- Focus on Savings: Earn a competitive interest rate on your savings account, helping your money grow steadily. Plus, you can easily transfer funds to other banks or pay bills with your free virtual debit card.
- Transparent and Affordable: Say goodbye to hidden charges! NSDL Payment Bank prioritizes transparency, with no account maintenance fees or charges for online transactions.
NSDL Payment Bank CSP Registration
Eligibility
- Citizenship: Indian citizen or a Person of Indian Origin (PIO) holding a valid Indian passport.
- Age: Minimum age of 18 years.
- Educational Qualification: Minimum qualification of 10th standard pass.
- Financial Stability: Good financial standing with no major credit defaults.
- Business Experience: Prior experience in running a business (preferred but not mandatory).
- Clean Track Record: No criminal record or involvement in any illegal activities.
Requirements
- Documents: Aadhaar card, PAN card, bank statement, address proof, passport-size photographs, KYC documents for business partners (if applicable).
- Shop Space: A suitable shop or premise in a high-traffic area with adequate space for running a banking kiosk.
- Technology: Basic computer system with internet connectivity, printer, and other necessary equipment.
- Investment: Security deposit and initial investment for operational expenses. The exact amount might vary depending on location and other factors.
Registration Process
- Application: You can apply online through the NSDL Payments Bank website (https://nsdlbank.com/) or contact your nearest authorized dealer or branch for assistance.
- Document Submission: Submit all required documents along with the application form.
- Verification: NSDL Payments Bank will verify your documents and conduct background checks.
- Training: Upon approval, you will receive training on banking products, processes, and software.
- Kiosk Setup: NSDL Payments Bank will assist you in setting up your kiosk with branding, equipment, and technology.
- Activation: Finally, your kiosk will be activated, and you can start offering NSDL Payments Bank services to customers.
Benefits of becoming an NSDL CSP
- Earn commission on various banking transactions.
- Build a business presence in your local community.
- Become a trusted financial service provider.
- Receive continuous support and training from NSDL Payments Bank.
NSDLPayments Bank FAQ'S
How to Open a NSDL Payments Bank account
1. Through the NSDL Jiffy App:
- Download the NSDL Jiffy app from the Google Play Store or Apple App Store.
- Choose “Digital A/c Opening” on the app’s homepage.
- Follow the on-screen instructions, which involve entering your details, providing KYC documents (such as Aadhaar and PAN card), and setting up your account preferences.
- Once approved, your account will be activated, and you can start using it.
2. Visiting a NSDL Payments Bank Branch:
- Locate a NSDL Payments Bank branch near you using their website or app.
- A customer service representative will guide you through the account opening process, which involves filling out forms, submitting KYC documents, and providing initial deposits.
- Once approved, your account will be activated, and you can receive your debit card and other necessary materials.
3. Visiting a NSDL Payments Bank Merchant Point:
- Locate a NSDL Payments Bank merchant point near you using their website or app.
- The merchant point representative can assist you with the account opening process, similar to a branch visit.
- You may need to provide additional information and complete KYC verification steps.
- Once approved, your account will be activated, and you can start using it.
What is the minimum balance in NSDL payment bank?
- NSDL payment bank open account minimum balance is 0
IFSC code for NSDL Payments Bank
The IFSC code for NSDL Payments Bank is NSPB0000001. This single code applies to all accounts across India, regardless of the branch where you opened your account.
Check Your App For Your IFSC Code
NSDL Payment Bank Interest Rate
Savings Account:
- 2.00% per annum on the entire balance.
- Interest is calculated daily and credited quarterly.
NSDL payment bank customer care number
Phone:
- Toll-free: 1800-222-125 (available 24/7)
App:
- Open the NSDL Jiffy app and navigate to the “Help & Support” section.
- You can search for your issue, browse FAQs, or chat directly with a representative.
Website:
- Visit the NSDL Payments Bank website (https://nsdlbank.com/) and click on “Contact Us.”
- Fill out the form with your query and submit it. A representative will get back to you within 24 hours.
Social Media:
- You can also reach NSDL Payments Bank customer care through Facebook, Twitter, and Instagram.
Jio Payments Bank
Jio Payments Bank, a subsidiary of the telecom giant Reliance Jio, is here to make banking simple and accessible for everyone. Think of it as your pocket-sized financial friend, offering basic banking services without the complexities of traditional banks.
Key Features:
- Zero Fees & Minimum Balance: Ditch the charges! Jio Payments Bank lets you open an account and keep it active without any fees or minimum balance requirements. Perfect for new and budget-conscious users.
- High Savings Interest: Earn a competitive 3.5% annual interest on your savings account, higher than most traditional banks, letting your money grow a little faster.
- Free Debit Card: Access your funds easily with a free debit card for ATM withdrawals and purchases at stores.
- Mobile Banking Convenience: Manage your finances on the go with Jio Payments Bank’s user-friendly mobile app. Check balances, transfer money, and pay bills, all from your phone.
- Wide ATM Network: Never be stuck without cash. Jio Payments Bank boasts a vast network of over 100,000 ATMs across India, making it easy to access your money anytime.
- Top-Notch Security: Rest assured knowing your transactions are secure with Jio Payments Bank’s advanced security features, including two-factor and biometric authentication.
Jio Payments Bank FAQ'S
Who is the CEO of Jio bank?
Vinod Easwaran
How to Open a Jio Payments Bank account
1. Through the MyJio App:
- This is the most convenient method, especially if you already use Jio services.
- Download or open the MyJio app on your phone.
- Go to the “Jio Payments Bank” tab or look for the banner promoting the account opening.
- Follow the on-screen instructions, which involve entering your details, providing KYC documents (Aadhaar and PAN card), and setting up your account preferences.
- Once approved, your account will be activated, and you can start using it.
2. Visiting a Jio Payments Bank Outlet:
- Locate a Jio Payments Bank outlet near you using the app or their website (https://jiopaymentsbank.com/).
- A customer service representative will guide you through the account opening process, which involves filling out forms, submitting KYC documents, and making initial deposits.
- Once approved, your account will be activated, and you can receive your debit card and other necessary materials.
What is the minimum balance in Jio payment bank?
- Jio payment bank open account minimum balance is 0
IFSC code for Jio Payments Bank
The IFSC code for Jio Payments Bank is JIOP0000001. This single code applies to all accounts across India, regardless of the branch where you opened your account.
Check Your App For Your IFSC Code
Jio Payment Bank Interest Rate
Savings Account:
- 3.5% per annum on the entire balance.
- Interest is calculated daily and credited quarterly.
Jio payment bank customer care number
Phone:
- Toll-free: 1800-891-9999 (available 24/7)
App:
- Open the MyJio app and navigate to the “Jio Payments Bank” section.
- Look for the “Help & Support” option or chat with a representative directly.
Website:
- Visit the Jio Payments Bank website (https://jiopaymentsbank.com/) and click on “Contact Us.”
- Fill out the form with your query and submit it. A representative will get back to you within 24 hours.
Social Media:
- You can also reach Jio Payments Bank customer care through Facebook, Twitter, and Instagram.
