How to do a Paytm FD. Paytm Fixed Deposit Interest Rate, Friends, in this post, we will talk about the fixed deposit (FD) service of Paytm Payments Bank . As you know, Paytm is a completely digital, process based bank account that you can manage only from your smart phone. You have many benefits to opening a PPB account, including interest on the deposited amount and a debit card facility.
Paytm Payments Bank also provides fixed deposit facility to its customers . According to the guidelines of the Reserve Bank of India, you cannot keep an amount above 2 lakhs in your Paytm payments bank account. If your amount exceeds it, Paytm deposits it as a fixed deposit, and on this amount you get 6-7% interest . A fixed deposit is considered to be the safest investment, because you get good interest on the amount deposited over a fixed period of time.
Paytm Fixed Deposit Interest Rate
Partnership with IndusInd bank and Suryoday Small Finance Bank –
Paytm Payments Bank is not allowed to make direct fixed deposits, so Paytm has partnered with IndusInd Bank and Suryoday Small Finance Bank . Earlier, there was only a partnership with Indusind Bank, but with the addition of another bank, customers now have two options for which bank they want to get FD . You can choose the right option for yourself by comparing the plans of both banks.
Benefits of getting Paytm Fixed Deposit –
- Its maturity period is 356 days.
- In this case, you get interest at a rate of 6-7 percent.
- An auto-renewal facility is available on maturity
- No charges are levied for breaking FD before maturity date
- You can see your FD information in the passbook
How to open Paytm FD account –
To open a Paytm FD account, log in to the Paytm Payments Bank app, here you will get the option to “create a new fixed deposit account” Your KYC should be complete for Fixed deposits. You can break this FD even before the completion of the maturity period, , for doing so, you do not have to pay any penalty.
It is possible to change the interest rates of fixed deposits at Paytm Payments Bank, For the latest information, you can check by visiting the official portal of Paytm Payments Bank.