Paytm Money is the wealth management arm of the Paytm group, a SEBI-registered discount broker with 10M+ users. Offers direct mutual funds, equity, F&O, NPS, and digital gold. Richify is an education and tracking app — different layer of the personal finance stack.
| Feature | Richify | Paytm Money |
|---|---|---|
| Primary purpose | Personal finance education + planning | Mutual fund + stock investment platform |
| AI financial coach | Felix + 6 specialist agents | ✗ |
| Direct mutual funds (zero commission) | ✗ | Yes — direct plans across 40+ AMCs |
| Stock + F&O brokerage | ✗ | Yes — Paytm Money is SEBI-registered broker |
| NPS investing | NPS Calculator only | Yes — POP/PRA registered |
| Free plan | Yes — full access to 12+ calculators | ₹0 stock delivery commission; ₹15-20/order F&O |
| India tax calculators | Income tax FY 2026-27, HRA, 80C, EPF, NPS, PPF, LTCG, stamp duty (12+) | Tax P&L statements only |
| Real estate tracking | Property + EMI + LTCG + stamp duty 21 states | ✗ |
| Multi-asset tracking | Stocks, MF, FD, EPF, PPF, NPS, real estate, crypto | MF, stocks, NPS within Paytm Money |
| NRI support | 6 country guides | Limited NRI account features |
| SEBI registration | Not registered (educational) | SEBI Stock Broker |
| Privacy | No bank linking required | Required (KYC + bank linkage) |
The Verdict
Paytm Money and Richify cover different layers of the personal finance stack. Paytm Money is a SEBI-registered broker for executing stock, F&O, mutual fund, NPS, and digital gold transactions. Richify is an education and tracking app with 12+ India tax/retirement calculators and AI coaching with Felix. The two products do not overlap functionally.
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Try Richify — Free TrialPaytm Money is the wealth management subsidiary of One97 Communications (Paytm group), launched in 2017. It's a SEBI-registered Stock Broker (NSE/BSE) and AMFI-registered mutual fund distributor offering direct mutual funds, equity delivery, F&O trading, NPS, and digital gold. Paytm Money has over 10 million users (2024) and is one of India's largest discount brokers alongside Zerodha, Groww, and Upstox. Brokerage: ₹0 on equity delivery, ₹15-20/order on F&O. Direct mutual funds carry no commission to Paytm Money — the platform earns from stock brokerage and other revenue lines.
Different scope and licence model. Paytm Money: SEBI-registered broker + AMFI-registered MF distributor + NPS POP/PRA — executes investment transactions in stocks, mutual funds, NPS, digital gold. Richify: not licensed, focused on personal finance education and tracking. Richify's strengths: 12+ India-specific calculators (income tax FY 2026-27, EPF, NPS, PPF, HRA, 80C, LTCG, stamp duty for 21 states, home loan EMI, rent vs buy, SIP returns, lumpsum), Felix AI conversational coach, multi-country tracking. Paytm Money's strength: integrated investment execution across asset classes within a single regulated platform.
Paytm Money charges ₹0 on equity delivery (regular stock buys held overnight); ₹15 or 0.05% (whichever is lower) per order on intraday equity, F&O, currency, and commodities; ₹0 on direct mutual fund purchases (no commission). Account opening is free. No annual maintenance charge (AMC) for the demat account. SEBI/exchange charges, GST, and stamp duty apply per regulator schedules. Richify's core features (12+ India calculators, Felix AI coach, multi-asset tracking) are free; specialist AI agents are an optional paid upgrade.
No — Richify is not SEBI-registered as a broker and does not execute buy/sell orders. To execute investment transactions in India, a SEBI-registered broker is required: Paytm Money, Zerodha, Groww, Upstox, Angel One, ICICI Direct, HDFC Securities, etc. Richify's role is tracking and planning: log holdings purchased through any broker, use Richify's calculators (LTCG, 80C optimizer, retirement projections, stamp duty for 21 states) for strategy and tax planning.
All three are SEBI-registered discount brokers with similar pricing (₹0 equity delivery, ₹15-20/order F&O, zero-commission direct mutual funds). Differences: Zerodha is the largest by AUM and active users; runs Varsity (free education library) and Coin (direct MF); Indian-owned. Groww has the largest user base by registered accounts (50M+ in 2024), strong onboarding for first-time investors. Paytm Money integrates with the broader Paytm ecosystem (UPI, wallet, gold) and offers digital gold + NPS more prominently. Richify is not a competitor to any of these — it's a planning and education layer that complements whichever broker the user chose.
Yes — Paytm Money is registered as a Point of Presence (POP) and Pension Fund Regulatory and Development Authority (PFRDA) intermediary for NPS. Users can open Tier 1 and Tier 2 NPS accounts within the app, view PRAN (Permanent Retirement Account Number), make voluntary contributions, choose between Active (self-allocate among E/C/G asset classes) and Auto Choice (lifecycle-based), and switch fund managers. Standard PFRDA charges apply (PRA opening fee ~₹40, transaction charges ~0.20%, maintenance fees). Richify's NPS Calculator models corpus at age 60 with asset allocation but does not execute NPS transactions.