Paytm Payments Bank, IndusInd tie-up for fixed deposit facility

By: |
New Delhi | Updated: January 6, 2018 5:02:23 PM

Paytm Payments Bank today said it has partnered Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs 1 lakh at the end of day.

Paytm Payments Bank, IndusInd, Renu Satti,  Paytm Payments Bank MD, miscellaneous charges, customer balance, fixed deposit in paytm payements bankPaytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 per cent annual interest, the company said in a statement. (Reuters)

Paytm Payments Bank today said it has partnered Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs 1 lakh at the end of day. Paytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 per cent annual interest, the company said in a statement. Additionally, if a customer becomes a senior citizen before the maturity period, the account will be auto renewed under the senior citizen scheme, thus earning higher interest, it added. “Majority of Indians prefer safer investment options that offer them higher earning potential. Our offering will add the much-needed convenience of zero paperwork, instant redemption and no charges to one of India’s most preferred investment methods,” Paytm Payments Bank MD and CEO Renu Satti said.

(More details are awaited.)

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1SBI, HDFC Bank and 230 other banking apps under malware attack! Here’s how to stay safe
2RBI action: Allahabad Bank too on PSBs PCA list
3Focus on recovery and control of slippages, says executive director of Allahabad Bank