You hereby agree and understand that the following terms pertaining to KYC as displayed below shall be applicable in respect of the KYC process undertaken by Paytm Payments Bank Limited and the same shall be read in conjunction with the Paytm Payment Bank Limited’s General Terms and Conditions and Privacy Policy available at and respectively.  

KYC Terms and Conditions

  1. You hereby understand and agree that necessary “Know Your Customer” checks/customer due diligence (“KYC”) in accordance with the applicable laws/regulations shall be required to be undertaken by Paytm Payments Bank Limited (PPBL) for you prior to commencement of any account based and/or transactional relationship with PPBL.    
  2. You understand and agree that PPBL may at its sole discretion undertake manual/physical KYC process or e-KYC process of UIDAI including bio-metric or OTP authentication in respect of you.    
  3. You understand that under biometric e-KYC process, your biometric information will not be stored and will be submitted to Central identities Data Repository for authentication.
  4. You hereby explicitly consent to PPBL authenticating your KYC information by way of the above mentioned KYC process, either through its partners, agents or by itself, with the relevant statutory authorities for fulfilling KYC requirements.
  5. You understand that Permanent Account Number (PAN) submitted by you shall be required for under-taking certain transactions under the Income Tax regulations.
  6. You hereby agree and undertake to submit Form 60 to PPBL, in the event of you not having a PAN and that the information mentioned therein shall be applicable to all accounts held by you. You further agree and understand that any person making a false statement/declaration  in the said Form 60  shall be liable to prosecution under section 277 of the Income-tax Act, 1961. You further declare that in case of you not having a Permanent Account Number, your estimated total income (including income of spouse, minor child etc. as per section 64 of Income-tax Act, 1961) computed in accordance with the provisions of Income-tax Act, 1961 for the financial year in which the above transaction is held will be less than maximum amount not chargeable to tax.
  7. You agree and understand that your account related information may be shared as required under applicable laws/regulation.
  8. You declare that you are an Indian Citizen, you are an Indian resident and Tax resident of India and of no other country. You agree to submit new details within 30 days if any of the above information has undergone changes.
  9. You hereby declare that the details furnished above and /or submitted by way of documents/information to PPBL are true, correct and complete in all respects and that the copies of POI (Proof of Identity) and POA (Proof of Address) are true copies of the originals, and PPBL shall be kept indemnified and held harmless by you with regard to any misrepresentations, errors, discrepancies etc. in the information as provided by you.
  10. You hereby declare that no other bank account has been opened by you nor will be opened by you using OTP based authentication either with PPBL or with any other banks.
  11. You hereby understand and agree that in case of minor accounts, PPBL shall be entitled to undertake the KYC of the minor as per the processes contemplated under clause 2 of these KYC Terms and Conditions along the fulfillment of other formalities required for the opening and maintenance of such accounts with PPBL.
  12. You hereby agree and confirm that PPBL either through its agents, partners and/or by itself shall be entitled to undertake enhanced due diligence procedures in accordance with applicable RBI guidelines. You hereby expressly consent that PPBL can disclose such information to its partners for such purposes.
  13. You do hereby declare that what is stated above is true to the best of your knowledge and belief.
  14. You hereby agree, that all disputes relating to and/or arising out of the information/documents provided pursuant to this KYC Form/Terms, shall be subject to the exclusive jurisdiction of a court of competent jurisdiction in one of the following cities:

        - New Delhi - for all KYC Forms filled out in the northern states;

        - Mumbai - for all KYC Forms filled out in the western states;

        - Kolkata - for all KYC Forms filled out in the eastern states; and

        - Bengaluru - for all KYC Forms filled out in the southern states.

  1. Any intimation to you may be provided to you electronically, either through PPBL’s mobile application or PPBL’s website or on the addresses as provided by you herewith.
  2. You hereby agreed and understand that your KYC details may be shared with Central KYC Registry and hereby further consent for accessing your KYC information including downloading and updating your profile and the related documents in respect thereto from Central KYC Registry and also to receiving information from Central KYC Registry/PPBL through SMS/Email on my registered mobile number/email address. You hereby agree and understand that PPBL shall use this information for verifying or updating your profile and updating PPBL’s records.
  3. You hereby agree and understand that PPBL reserves the sole discretion to close your Account, if it comes to the knowledge of PPBL that you have furnished wrong, incomplete, false and misleading information and/or failed to furnish necessary information as requested by PPBL from time to time in respect of the KYC documents.

Most Important Terms and Conditions

These are to be read and understood in conjunction with the Paytm Payments Bank Limited’s terms and conditions governing accounts and services as communicated and available on the following link

          A) Customer Information

  1. Paytm Payments Bank account can be opened only by a Resident Indian.
  2. Paytm Payments Bank is allowed to hold a maximum balance of Rs.200,000/- per individual customer at the end of the day i.e. the combined balance of the customer’s wallet, savings and current accounts should not exceed Rs.200,000/-at the end of the day.
  3. There is no minimum balance requirement to open an account with Paytm Payments Bank. Hence, customer can open an account with Paytm Payments Bank even with zero balance.
  4. Paytm Payments Bank is not permitted to offer loans, overdrafts/advances against customer deposits, credit cards, term deposits, recurring deposits, PPF accounts, demat accounts etc. In case Paytm Payments Bank offers such products, the same will be in collaboration with the partner institutions.
  5. Nomination facility is available for all deposit accounts.

    B) Schedule of charges

    Kindly refer to for all charges.

    C) Grievance Redressal

    Kindly refer to for Grievance Redressal policy.



For terms and conditions in Hindi, please refer to