Airtel Payments Bank ties up with IndusInd Bank to offer FD facility to customers

New Delhi| Airtel Payments Bank has joined hands with IndusInd Bank to launch a fixed deposit (FD) facility. Under this, the bank will give an interest of 6.5 percent on the FD. No penalty will be charged for breaking the FD before maturity.

The bank gave this information on Tuesday. IndusInd Bank said in a statement that with the introduction of the FD facility, Airtel Payments Bank has further strengthened its digital banking portfolio.

Customers can deposit amounts ranging from Rs 500 to Rs 1,90,000 through the Airtel Thanks app, the release said. They will be given an interest of up to 6.5 percent per annum. Senior citizens will get an additional interest of 0.5 per cent on all term deposits.

The bank said in a release, “Customers can break the FD through the Airtel Thanks app before the expiry of its tenure and for the same, they will not be charged any penalty or processing fee.” IndusInd Bank said that the FD facility is a , will be available for a fixed period of two or three years. Customers can do multiple FDs at a time.

Shivam Bangwal

Shivam Bangwal is an India-based Entrepreneur. He is the Founder of Successful Startups like Youthistaan, People News Chronicle, Hitchhike TV & Branding Panther. Shivam has done his Master's in Computer Applications.

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