Product Details
Brokerage and Fees
There are no hidden charges, commissions, or fees on buying & selling mutual funds.
Account Opening Fees
INR 0
Eligibility
Any Indian resident can apply.
You need to have a bank account.
You need to have KYC document like Aadhar and PAN.
Annual Fees
INR 0
Paytm Money Mutual Funds App Review
Special Features
Customers can get up to 1% higher returns with direct plans.
Features
Cons
No advisor is provided for mutual fund selection.
No physical Branches.
Pros
Hassel free account opening procedure without any hidden charges.
They offer direct mutual funds, potentially leading to potentially 1% higher returns than regular plans.
Instant redemption facility.
Instant Withdrawal up to Rs 50,000.
Pros and Cons
How to Apply?
Download the App: The first step is to download the Paytm Money app from the App Store or Google Play.
Sign In/Up: If you already have a Paytm account, you can use those credentials to sign in. Otherwise, you'll need to create a new account.
KYC Verification: KYC (Know Your Customer) verification is mandatory to comply with Indian regulations. Paytm Money might attempt to pre-fill some details using Digilocker if you have it linked to your Aadhaar. You'll likely need to provide your PAN (Permanent Account Number), Aadhaar Card details, and bank statement/cancelled cheque for address proof.
E-Sign and Verification: Once you submit your details, there might be an electronic signature step using Aadhaar-based OTP. Finally, your KYC details will be verified by Paytm Money. This process can take 1-2 business days.
Documents Required
PAN Card: This is your Permanent Account Number, a mandatory document for financial transactions in India.
Address Proof: You can use your Aadhaar Card, Passport, Driving License, or Voter ID as proof of address.
Bank Account Details: This includes your bank account number and IFSC code. They'll use this to link your investments to your bank account.
Photo and Signature: You'll need to submit a clear picture of yourself and your signature electronically.
In-person Verification (IPV): This is done through a short video recording where you confirm your identity.
Account Opening and Procedures
Documents Required
PAN Card: This is your Permanent Account Number, a mandatory document for financial transactions in India.
Address Proof: You can use your Aadhaar Card, Passport, Driving License, or Voter ID as proof of address.
Bank Account Details: This includes your bank account number and IFSC code. They'll use this to link your investments to your bank account.
Photo and Signature: You'll need to submit a clear picture of yourself and your signature electronically.
In-person Verification (IPV): This is done through a short video recording where you confirm your identity.
How to Apply?
Download the App: The first step is to download the Paytm Money app from the App Store or Google Play.
Sign In/Up: If you already have a Paytm account, you can use those credentials to sign in. Otherwise, you'll need to create a new account.
KYC Verification: KYC (Know Your Customer) verification is mandatory to comply with Indian regulations. Paytm Money might attempt to pre-fill some details using Digilocker if you have it linked to your Aadhaar. You'll likely need to provide your PAN (Permanent Account Number), Aadhaar Card details, and bank statement/cancelled cheque for address proof.
E-Sign and Verification: Once you submit your details, there might be an electronic signature step using Aadhaar-based OTP. Finally, your KYC details will be verified by Paytm Money. This process can take 1-2 business days.
Account Opening and Procedures
Paytm Money Mutual Funds Review
Paytm Money can be a good option for new investors looking for a user-friendly platform with zero fees for mutual funds. However, if you're an experienced investor who needs advanced research tools or a wider selection of funds, you might consider other options.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Recommedation For Stock Market Investment
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