Paytm Money Account New Annual Charges Introduced

Change your broker. Simple.

Is there any other broker that does not charge annually while opening an account? Grow is one of them, any other?

I also have Paytm Money and I haven't got any such mail

I only use Paytm Money for Mutual Funds investments

I use only for Mutual funds but haven't received any such email.

Some time back, due to some guidelines paytm money made it compulsory to open a demat account, but they will not charge anything untill and unless user adds money in that demat account for trading.

So now the question is will I be charged with new AMC charges even if I don't use demat account, just do investment in mutual funds?

for the peoples who are only using paytm money for mutual fund:

1. Close your account with Paytm money as to store mutual fund, demat account is not required. (unless you're storing mutual fund in demat form, which only zerodha do as of now). Closing your demat account won't affect the mutual fund, since the mutual funds are statement based and linked to your pan card number.

2. You can create MFCentral account to continue investing on the old funds or start investing on the new ones. (You can also use some other apps like Groww, but you won't be able to invest in old funds via this)

Mine also deducted 354

Paytm is doing all this to make money for its investors. IndMoney is also unreliable. I will vouch for Grow.

Got this reply:

This is with reference to your concern related to Platform charges. Kindly note, the platform charges are only charged for the use of equity trading and demat account and using the mutual fund's platform for investing is completely free. Do feel free to reach out to us via our in-App support should you need any assistance going forward. Alternatively, you may write to us at [email protected].

Thank you, Anubhav.