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Airtel payments bank partners with IndusInd bank
April 27, 2022
Airtel Payments Bank said on Tuesday it has collaborated with IndusInd Bank to offer fixed deposit (FD) facilities to its clients.
Clients can now book fixed deposits starting from ₹500 up to ₹190,000 within minutes through a consistent digital journey on the Airtel Thanks application, Airtel Payments Bank said in a statement.
With this organization, Airtel Payments Bank’s savings account customers will get an interest rate of up to 6.5 percent per annum and senior citizens will get an extra 0.5 percent on all fixed deposits.
Clients can book multiple FDs for a fixed duration of either 1, 2 or 3 years. Clients can break down an FD before the development date through the Airtel Thanks application, and no penalty or processing fee will be charged on pre-mature withdrawals. The invested amount will be credited back to the linked account within minutes, it said.
“A key ask from our clients was the need for a fixed deposit solution to go with our convenient payment bank proposition. We are delighted to partner with IndusInd Bank to offer Fixed Deposits facility to our clients,” said Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank.
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