For Quick Alerts
For Daily Alerts

Paytm FD Offers Interest At The Rate Of 8%; Know How To Avail It


India's favourite way to invest is to lock away savings in the simple and secure instrument- fixed deposits (FD) and when one is looking to open an FD, one does look at convenience besides interest rates that it fetches. If you are looking to multiply your savings away for a shorter period, at an interest rate as high as 8 percent, you can do it with just a touch on your smartphone.

Popular mobile wallet and payments bank Paytm is providing its customers the opportunity to earn the maximum interest on any excess savings they have while providing the option to exit before maturity with zero withdraw charges. Its liquidity is the most attractive part of the service, something you cannot find at regular banks.

How to open a FD with Paytm?

How to open a FD with Paytm?

Before you decide to open an FD with Paytm, there are some things you need to understand about the deposit facility.

You may already be aware that Paytm is a payments bank, which means it is not allowed to provide conventional banking services like that of an FD. Additionally, as per RBI's licensing and operative guidelines, the customer's aggregate balance in their payments bank account at the end of the day, cannot exceed Rs 1 lakh.

Due to restrictions associated with the account, Paytm has tied up with IndusInd Bank Ltd to open a fixed deposit account, on your behalf, when the amount in your account exceeds the limit. It is a hassle-free, paperless savings option that moves any amount in your account exceeding Rs 1 lakh towards the FD, to help you earn the highest interest rate they can offer.

When your balance exceeds Rs 1 lakh, go to "Bank" (second from the right side, below) in your app, and scroll down to find the fixed deposit option.

You can check your balance, interest earned at any time on your passbook, which will display the savings account and FD account balances separately.



  • Maturity: 13 months (at present)
  • Interest on maturity: 8 percent (at present)
  • Auto-renewal on maturity
  • Instant redemption with zero penalty charges on redemption before maturity
  • Details of the FD readily available in the Paytm passbook
Important points to note

Important points to note

  • The changes in interest rates are based on those provided by IndusInd Ltd for a period of 13 months, which is currently 8 percent for deposits less than Rs 1 crore.
  • As per the Paytm's guidelines on its official website, it books the FD for the period with the highest interest rate (presently 13 months) provided by its partnered bank.
  • The FD when redeemed (can be redeemed anytime) will provide you with the principal amount to the extent redeemed along with the interest earned till the period less TDS (tax deducted at source), if any, within a matter of seconds.
  • No interest will be paid in the FD if redeemed within the completion of 7 days.
  • Any and all communication regarding the FD will be sent to you by Paytm.
  • Interest earned will be rounded off to the nearest integer while crediting it to the account. For example, interest earned between Rs 11.50 to Rs 12.49, will be credited as Rs 12.00.
  • TDS will be applicable as per Income Tax rules. If the PAN is not furnished, a higher rate of TDS will be charged, as per the Income Tax Act.
  • On the date of auto-renewal, the new deposit amount will include original principal amount along with the interest earned minus the TDS, if any.
  • If the account holder becomes a senior citizen at the time of renewal, the deposit will be auto-renewed to the senior citizen scheme (with a higher interest rate).
Read more about: paytm fd
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X