Payment modes in Paytm money and fund management

[lpshreyas]

I have been using Paytm money for NPS, and started to wonder about a couple of things during the whole Paytm payments bank fiasco.

1. Payment options: I suddenly had this realisation that Paytm money only has UPI and netbanking as payment options. Pardon me if this is a known fact, or is common knowledge as I'm not too familiar with such apps and investments. Can we not use credit cards for SIP payment?

2. Fund management: If Paytm or Paytm money shuts down tomorrow, how would I manage that investment/fund and pay the monthly SIPs? Again, apologies if this is a really rudimentary knowledge that I don't have.

 

[Kiranonlinee]

1. As per rbi credit cards cannot be used to buy mf and stock
2. You are investing with AMC like axis ICICI etc Paytm money is just a facilitator.
U can manage funds using mf central or visiting local distributor of AMC / AMC website

 

[lpshreyas]

U can manage funds using mf central or visiting local distributor of AMC / AMC website

EDIT:
Found it! Thanks for jogging my memory. I used to download the payment receipts a couple of years ago from that site, but it had completely slipped my mind.

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So, given that I am talking about NPS with HDFC Pension Management, I can manage it via HDFC or the eNPS portal?

 

[real_name_hidden]

EDIT:
Found it! Thanks for jogging my memory. I used to download the payment receipts a couple of years ago from that site, but it had completely slipped my mind.

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So, given that I am talking about NPS with HDFC Pension Management, I can manage it via HDFC or the eNPS portal?

Yes. You just need PRAN (Permanent retirement account number) and your dob to login to enps portal.

Also if your POP is Paytm Money, you are shelling out some extra bucks. You can reduce some leak by using eNPS.

 

[drsel]

Just off topic but instead of NPS, I think it's better to invest in sovereign gold bonds through the government and get 2% plus the capital appreciation of gold

 

[Kiranonlinee]

Just off topic but instead of NPS, I think it's better to invest in sovereign gold bonds through the government and get 2% plus the capital appreciation of gold

I think bonds will come under debit instrument and do we avail indexing tax benifit ?

 

[lpshreyas]

Also if your POP is Paytm Money, you are shelling out some extra bucks. You can reduce some leak by using eNPS.

Yes, I literally just found out after logging into the portal. I was paying about 0.7% more as charges, which is only slightly lower than what paying via CC ( @Kiranonlinee that option is present) through KFintech's portal would have cost. They charge 0.75% + GST for payment done using CC while there are no charges for netbanking, upi, debit card.

I wonder what category this falls under. Would this be a government transaction?