On Tuesday 26 April 2022, Airtel Payments Bank launched the fixed deposit (FD) facility in partnership with IndusInd Bank to offer Fixed Deposits for its customer.
With this facility, Airtel Payments Bank customers can open FDs starting from Rs 500 up to Rs 1.90,000 lakh within minutes through a digital process on the Airtel Thanks mobile application.
IndusInd Bank, the partner bank is offering interest rates of 6.5 per cent for regular customers and an additional 0.5 Per cent to senior citizens with an option of premature withdrawal without any penalty to Airtel Payments Bank customers.
Airtel Payments Bank customers can book multiple FDs on Airtel Thanks App for fixed periods of one, two, or three years.
"A key ask from our customers was the need for a fixed deposit solution to go with our convenient payments bank proposition. We are delighted to partner with IndusInd Bank to offer a Fixed Deposits facility to our customers," said Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank.
"Fixed deposits are a great option for users who look for secure and risk-free investment options and important addition to our growing bouquet of simple, secure and rewarding digital solutions," said Ananthanarayanan.
Charu Mathur, Head - Digital Banking & Strategy, IndusInd Bank, said the bank is constantly focussing on capitalizing on its technological prowess to interact with customers across multiple touchpoints.