Paytm Payments Bank Partners with IndusInd to Offer FD Facility
Following the contempo launch of zero balance accounts for Paytm Payments Bank users, digital payments major Paytm has partnered with IndusInd bank to innovate a fixed deposit facility for its customers. As a issue of the partnership, Paytm Payments Bank business relationship holders will be able to create a stock-still deposit account once their residue exceeds Rs. 1 lakh.
Unlike the fixed deposit facilities offered by traditional banks, the i offered by Paytm volition allow users to redeem their deposit at any time without incurring any penalty. The fixed deposit service introduced by Paytm offers customers up to 6.85 percent annual involvement, the company revealed.
In instance a Paytm Payments Banking company client becomes a senior citizen before the maturity flow of the fixed deposit account, the account will exist auto renewed under the senior citizen scheme and will offering a higher interest rate.
Paytm Payments Bank Doctor and CEO Renu Satti was quoted saying:
"Majority of Indians prefer safer investment options that offer them higher earning potential. Our offering volition add the much-needed convenience of zero paperwork, instant redemption and no charges to 1 of India's almost preferred investment methods".
With the launch of the stock-still deposit service, Paytm Payments Bank is well on its style to becoming a more convenient alternative to traditional banks. The digital banking company at present offers nil rest savings accounts with a minimum interest rate of 4 per centum, a digital RuPAy debit card for online transactions and cash withdrawals, and costless insurance cover upwards to Rs 2 lakh. On top of that, the bank has too appear zero charges on all online transactions.
Source: https://beebom.com/paytm-payments-bank-indusind/
Posted by: craigdumbet.blogspot.com
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