Paytm Money Review 2022: Account Opening, Brokerage Charges, Stocks
Hello investors, Do you wish to invest in stocks, mutual funds, an IPO, a retirement plan, or other funds? If so, then you should read this article. Today I’ll be discussing the Paytm Money Review. Paytm Money is a new market investment opportunity.
As you are all aware, Paytm is one of India’s leading payment platforms. Paytm Money began as a mutual fund direct investing option. Users can now invest in equities, IPOs, NPS, mutual funds, and any other funds. The new F&0 trading option will be available on the Paytm Money app and website. Individuals can invest in Paytm mutual funds and redeem them for free. SEBI’s stockbroker and investing partner is Paytm Money. Additionally, it is a member of CDSL, NSE, and BSE. They assert that Paytm Money is one of India’s low-cost investing solutions with a large user base.
Using your Paytm user id and password, it is simple to log in to Paytm Money. To invest your money in Stocks, Mutual Funds, IPOs, NPS, F&O, etc., you must register a Demat account through the Paytm Money app. If you are new to the stock market, you may learn more about IPOs, stocks, and mutual funds by reading Paytm Money blogs.
Disclaimer- Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Everyone has a basic understanding of the stock market. Upstox and Groww are the top two stock market applications available on the Indian market. PaytmMoney is newer than them. Paytm Money was initially launched as a direct mutual fund option, but it has now incorporated more capabilities.
Any user can download the Paytm Money app, log in with their Paytm-registered mobile number, or join up for a Paytm account if they do not already have one. In order to open a Demat account on the Paytm Money app, you must complete KYC. To invest in Stocks, Mutual Funds, Initial Public Offerings, etc. for the first time, you must deposit a minimum of 50.
This software is the best for beginners. This is due to the fact that their prices are much lower than those of their market competitors. There are no maintenance fees associated with this application. Read the section below to learn about additional features and fees.
Paytm Money Demat Account Opening
Anyone can easily open a Demat account with PaytmMoney. Paytm Money’s account opening procedure is paperless. To register a Demat account on the Paytm Money app, you must provide your Aadhar, Mobile Number, PAN, and Bank information.
- Download the PaytmMoney app.
- Sign in using your Paytm credentials.
- Enter OTP and verify mobile number.
- Select the “I Want Faster Access” option.
- Submit all required documentation.
- Complete KYC with Esign based on Aadhar.
- The broker will submit client information to the exchange and CDSL.
- Enter the PAN and submit the PAN image.
- Add personal details like name, email id, address etc.
- Sign in or submit a photo signature.
- Upload a photo and a 5-second selfie video of yourself.
- Tap on Submit button.
- Add an address and an address verification document, then hit the Submit button.
- Include your nominee, annual income, and tax status.
- Provide your bank information, including IFSC Code, Account Number, Branch, etc.
- Upload a Bank statement and click the Submit button.
- Set a four-digit passcode and select “Open my account.”
Documents Required for a Paytm Money Demat Account
You must provide some basic information and provide supporting documentation. For instance, if you submitted your Bank information, you must upload a photocopy of a cancelled check or the first page of your Bank passbook.
- Aadhar Card.
- Mobile Number linked with Aadhar.
- Pan Card.
- Bank Proof (Cancelled Cheque or first page of Passbook).
- Address Proof (Passport, Aadhar, Driving License, Voter ID etc).
- A self recording video of 5 sec (IVR).
- Photocopy of Signature on a white paper.
The Finest Aspects of Paytm Money
Paytm Money was initially introduced as an alternative for mutual funds. They have since included a stock option. They boast the greatest consumer base and promise to offer low-cost investment opportunities. Let’s examine some of Paytm Money’s intriguing features.
- Free equity delivery trading.
- Zero maintainance charges.
- Zero commission on direct mutual fund.
- Users can easily switch between external mutual fund to direct mutual fund.
- Start your investment in 30 minutes.
- Start trading in F&O and Intraday trading at maximum ₹10 / order.
- NPS, IPOs, F&O trading option is available other than Stocks and Mutual Funds.
Paytm Money Charges
|1. Account Opening||₹0|
|2. Annual Platform Fee||₹300|
|3. Demat Account Opening||₹0|
|4. Demat AMC (Yearly)||₹0|
|5. Equity Delivery||₹0|
|6. Equity Options Brokerage||₹10 / Executed Order|
|7. Equity Intraday Brokerage||₹10 / Executed Order|
|8. Currency Future Trading Brokerage||₹10 / Executed Order|
|9. Minimum Brokerage Charges||₹0.01 per executed order on Equity Delivery trades|
|10. Other Brokerage Charges||Platform Usage Fees – ₹300 Per Annum|
Physical Statements/Documents – ₹300/Request + ₹300/Courier
|11. Call & Trade Charges||₹50 / Executed Order|
|12. Equity Delivery||NSE ₹325 per Cr (0.00325%) | BSE ₹300 per Cr (0.003%) (each side)|
|13. Equity Intraday||NSE ₹325 per Cr (0.00325%) | BSE ₹300 per Cr (0.003%) (each side)|
|14. Equity Futures||NSE ₹190 per Cr (0.0019%)|
|15. Equity Options||₹5,000 per Cr (0.05%)|
How to invest in stocks?
If you’ve already put money into stocks through other trading apps like Upstox or Groww, I don’t think you need to read what’s below. But if you are new to this field and using PaytmMoney for the first time, read this to learn how to invest money in the Stocks.
- First of all, open the app.
- Log in with your Paytm credentials.
- Open your Paytm Demat Account.
- Now tap on the ‘Stocks’ option on the homepage.
- Tap on ‘Explore’ and search or select any stocks.
- Tap on ‘Buy’.
- Add funds if you don’t have funds in your account.
- Enter quantity and then make payment.
- Done!! You will get to see it on your Portfolio tab.
How To Invest Money in Mutual Funds?
- Open the Paytm Money app.
- Log in and find ‘Mutual Funds‘ option.
- Tap on ‘Explore’.
- Select any fund.
- Enter Investment Amount and select monthly or one time SIP.
- Make payment and your order will be done.
- Please note that, before investing money in to Mutual Funds you have to complete KYC by adding your basic details nominee & declarations and bank account.
NPS (National Pension System)
The Indian government set up NPS, which is a pension plan. Any Indian citizen can invest and build up a retirement fund this way. Anyone between the ages of 18 and 60 can join NPS. Under section 80CCD, 50,000 will be taken out of your taxable income (1B).
You can start investing in NPS with as little as 1,000 and save an extra Rs 15,600 in tax on top of the savings from 80C. Subscribers to NPS can choose from 7 pension funds, such as ICICI, LIC, Kotak Mahindra, SBI, UTI, HDFC, and Birla Sunlife Pension Management Funds.
You can put up to 2 Lakhs into the NPS. You can choose between the tax savings scheme (Tier 1) and the any time withdrawal scheme (Tier 2).
Invest in NPS on Paytm Money
- First of all, choose the NPS option in the app.
- Tap on the ‘Discover Funds’ option.
- Choose your preferred ‘Pension Fund Manager’ and the tap on ‘Invest Now’.
- Submit your personal details and complete NPS-related verification.
- After verification, you can make payment.
- eSign with Aadhar or eSign with Digital Authorization.
- You can eSign within 30 days of payment.
IPOs in Paytm Money
The Paytm Money app also lets you invest in IPOs, in addition to the Stock Market, Mutual Funds, NPS, and F&O. On the app, you’ll be able to see IPOs that have already happened and those that are coming up. With UPI, it’s very easy to put money into IPOs. In the next section, we’ll look at how to invest in IPOs and what the benefits of doing so are.
Apply for IPOs on Paytm Money
- First of all, open the app.
- Tap on IPOs and select the ‘Explore’ option.
- Complete IPOs KYC if it is not done yet.
- Enter your bid details (quantity, price and no of bids).
- Enter your UPI ID.
- Accept the Block Funds request on your UPI App.
- If allotted, final amount will be debited otherwise it will be unblocked.
If your application is accepted, you can use the app to buy IPOs. Every business has a set “lot size.” You must bid an amount that is a multiple of the bid sizes. For example, if the size of a lot is 20, you can bid for multiples of 20 shares, such as 40, 60, 80, etc. Only up to three bids can be accepted, and the most an individual investor can put in is 2 Lakh.
Pros of IPOs
- On the app and website, it only takes three clicks to apply for an IPO.
- During the IPO window, you can make any changes you want to your IPO order.
- With UPI, it’s easy for users to pay.
- You can find out everything about the company and how it has done in the past.
- You can look at the track records of all IPOs and see which ones are coming up.
Paytm Money FAQs: Investing Money
1.Is it safe to start investing with Paytm Money?
Paytm Money is completely safe. It is a stockbroker and investor partner that is registered with SEBI. They also belong to the NSE and BSE. They offer low-cost ways to invest, and they have a lot of clients.
2. What does NPS stand for in Paytm Money?
NPS is a plan made by the Indian government. National Pension Scheme is what NPS stands for in full. Anyone between the ages of 18 and 60 can put money into the NPS and plan for their retirement.
3. How much does it cost to trade with Paytm Money?
Paytm Money charges 10 per executed order for Equity Intraday and F&O and 0 for Equity Delivery.
4. Can a Paytm Money account be opened without being online?
No, Paytm Money doesn’t let people sign up for accounts in person. They give all of their customers full digital KYC. They don’t offer customer service in person.
5. What kinds of paperwork do I need to open a Paytm Money account?
To open an account, you need to upload a PAN card, a bank proof, an address proof, a signature, a photo, and a 5-second video.