Paytm payments bank is all set to start operations on Diwali day with several services. It has already tied up with IndusInd Bank, ICICI Prudential and HDFC Mutual Fund to offer banking, insurance and mutual fund services to its customers. The bank is intending to attract investors by offering 6% interest on its savings bank accounts. The investors will also be able to keep their funds in a money market fund product. According to Vijay Sekhar Sharma, MD, Paytm, those investors whose savings bank account crosses Rs 1 lakh will have an option to convert the funds into a money market fund, which will be available at zero transaction and breakage fee.
