Paytm Payments Bank (PPBL) customers will now have two options for making a fixed deposit (FD). Paytm Payments Bank has now partnered with Suryoday Small Finance Bank after IndusInd Bank to provide FD facility to customers. Now the customers of PPBL will be able to FD with PPBL on IndusInd Bank’s FD rates and other conditions or on Sunrise Small Finance Bank’s FD rates and other conditions.
Currently, PPBL, along with IndusInd Bank, offers customers FDs with a minimum deposit of Rs 100. With the new partnership, PPBL has become the first payments bank in the country to offer multi-partner FD service. With this, customers will have the opportunity to choose from two partner banks. PPBL has issued a statement saying that customers will now be able to compare the offers of both partner banks for FDs, such as minimum deposit, interest rate, duration of FD, etc. PPBL does not charge any penalty from customers for breaking premature FDs.
Motive to provide customers with flexibility
Satish Gupta, MD & CEO of Paytm Payments Bank, said that we have partnered with Suryoday Small Finance Bank to provide Flexi Bill for FDs to our account holders. Customers can choose the partner bank of their choice by comparing their convenience and benefits.
Bhaskar Babu, MD & CEO of Suryodaya Small Finance Bank, says that as a small finance bank our focus is on providing innovative products and solutions with a good customer experience. A partnership with Paytm Payments Bank will enable us to provide customers with an alternative digital platform, enabling them to help them save in a more meaningful way.