Paytm revises interest rates, brokerage charges for stock trading
What's the story
Paytm Money, a subsidiary of One 97 Communications, has announced a cut in interest rates and brokerage charges for its 'Pay Later' (margin trading facility) product.
The company has trimmed the interest rate to 9.75% per annum from the earlier 14.99%.
The new rate would apply to retail investors and those having a funding book of over ₹25 lakh.
Figures
Interest rates remain unchanged for specific funding range
For those having a funding book of ₹1 lakh-₹25 lakh, the interest rate continues to be the same at 14.99% per year.
The new rates introduced by Paytm Money, which are based on the size of the funding book, came into effect on April 18.
The move is aimed at making margin trading more affordable, and encouraging greater participation from investors across different financial brackets.
Revision
A look at the brokerage charge
Along with the interest rate changes, Paytm Money has also revised its brokerage charges. The new charge is set at 0.1% per trade, effective from May 18.
The updated interest structure is designed to cater to both entry-level as well as high-value investors, making margin trading more accessible than ever before.