How to Transfer Paytm Cash to Bank Account at Just 1% Interest

While the demonetization of 500 and 1000 notes may have given Patym's business a boost, the company is now charging only 1% interest on your transaction amount.

People are finding it hard to cope up with the shortage of money in banks and ATMs. While the circulation of new notes may take some more time, many are turning to e-wallets for conducting transactions.

How to Transfer Paytm Cash to Bank Account at Just 1% Interest

However, well-known players in this space such as Paytm is planning to help people in this matter by decreasing their interest percent.

SEE ALSO: How to Use Paytm to Get 100% Cashback on Your First Uber Ride During Demonetization

While Paytm used to charge 4% interest on the transaction amount, lately Paytm has announced that it will be taking only 1% charge on the transaction amount.

This might have also come as many people and businesses are now using Paytm for their transactions and that they need to transfer the collected amount from their Paytm wallet to their bank accounts. More business for Paytm!

SEE ALSO: Use this Simple Trick to find Working ATM Machines and Cash Around You

So if you are looking to transfer Paytm cash to bank account at 1% transaction charge, then follow these simple steps:

How to Transfer Paytm Cash to Bank Account at Just 1% Interest

#1 Download the Paytm Wallet app from the Play Store.

#2 Install and open Paytm app in your mobile phone.

#3 Login or if you do not have an account with Paytm, then register your account.

How to Transfer Paytm Cash to Bank Account at Just 1% Interest

#4 After logging in, you need to click on "Pay and Send" option as shown in the image.

#5 Then select "Send Money to Bank Account' option.

#6 Enter Account Holders Name, Account Number, IFSC Code and Amount.

#7 You need to fill all the required details.

How to Transfer Paytm Cash to Bank Account at Just 1% Interest

#8 Click on Send and your amount will be transferred to your bank account within few hours.

#9 As such, you will only be charged 1% of interest on your transferable amount.

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