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.
Last reviewed: · Reviewed by the Richify team
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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.
Comparison is educational only. Features and pricing may change. We strive for accuracy but recommend verifying directly with each service.