Paytm Money offers different financial services

February 23, 2021 Finance Talk Valli Sarvani No comments

Paytm Money Limited is the financial arm of Paytm. It offers various financial services for its users through the app.

Paytm Money Limited is registered with SEBI. It has a simple and user-friendly interface.

Here are the different services offered by Paytm Money:

Open a Demat account: You can open a Demat account with Paytm by following the simple steps. You need digital KYC for this. Log in with your Paytm credentials like a registered mobile number or email ID. Then, enter your PAN and check your KYC status. After that, you will get a confirmation link via SMS.

Apply for IPO: You can invest in different IPOs through the Paytm money app. By logging in to the app, you will find a list of available IPOs. You can add details for bidding like amount, quantity etc. You will be allowed for a maximum of three bids. As soon as you enter your UPI ID, funds for the highest bid are blocked. You will be informed of the status after the allotment.

Invest in stocks: You can create and configure up to 50 stocks. You can also automate stock investments. You can schedule buying orders on a weekly or monthly basis. With an in-built trading calculator, you can find the costs and breakeven price to sell your stock profitably. The company charges a nominal brokerage fee of ₹10 (charges are either ₹10 or 0.05 per cent, whichever is lower) per order executed.

Invest in NPS: Since Paytm is approved by the Pension Fund Regulatory and Development Authority (PFRDA), users can invest in the National Pension System (NPS) through this app.

Buy gold: Users can buy or sell gold using the Paytm Money app. They can also invest in digital gold with a minimum of ₹1. The company assures 99.99 per cent pure gold from MMTC-PAMP.

In addition to that, users can invest in Exchange-Traded Funds or ETFs, Equity Linked Savings Scheme Schemes, and mutual funds through this app.

Image by Steve Bidmead from Pixabay (Free for commercial use)