Airtel Payments Bank to offer Fixed Deposits with upto 7% Interest in tie-up with IndusInd Bank : Check FD Rates
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Airtel Payments Bank in tie-up with IndusInd Bank has started its new Fixed Deposit service on the Airtel Thanks app from 26th April 2022. Thus, Airtel customers can benefit from this along with the existing Airtel Payments Bank savings account.
You can make an FD starting from ₹500 and up till ₹1,90,000. Multiple FDs are possible. You can choose from a fixed tenure of either 1 yr, 2 yrs, or 3 yrs only. The best part here is that if you opt for premature withdrawal i.e. break your FD then there is no penalty. Many banks have a 1% penalty.
Airtel Payments Bank in partnership with IndusInd Bank is offering upto 7% interest to seniors while upto 6.5% to others. This is great where top banks are currently providing interest rates in the bracket of 5%-6%.
Tenure |
Interest Rate |
Interest Rate for Senior Citizens |
1 year |
6% |
6.5% |
2 years |
6.25% |
6.75% |
3 years |
6.5% |
7% |
#AirtelPaymentsBank has partnered with @ MyIndusIndBank to offer #FixedDeposit (FD) facilities to its customers. Customers can now book FD starting from Rs.500 up to Rs.190,000 within minutes digitally on the Airtel Thanks app.
— Airtel Payments Bank (@airtelbank) April 27, 2022
Read more https://t.co/UeNwlRx9Si#DigitalBank
Google Pay also has their Fixed Deposit service with Equitas Small Finance Bank so it will be interesting to see how this one comes across. What do you think about the Airtel Payments Bank FD? Do let us know below.
What only 1,90,000 FD? LOL At least allow bigger amounts like 5 lakhs.
Yes Bank is still pretty competitive.
Wait let me check with someone I know there.
Okay, even before calling him; I checked. https://www.yesbank.in/personal-banking/yes-individual/deposits/fixed-deposit
To senior citizen clients, YB is offering 18-19 basis point more (reinvestment/ compounding) yield, for 3-10 year deposits.
For the time being, I am ignoring the offerings from various small finance banks and picked only national players.
<a href=“https://www.yesbank.in/personal-banking/yes-ind...#” id=“sl-tabs-e41a6bd2-9a51-4c38-ae96-c81a574c5e3aaccordion0” data-sl-tabs=“{” index":="" 0}"="" aria-label=“FIXED DEPOSIT INTEREST RATES”>FIXED DEPOSIT INTEREST RATES
Fixed Deposit Interest Rates-
RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)
Period
Rates for < 2 Crore w.e.f 4th January 2022
Regular
Senior Citizen
Interest Rates
Annualised Yield^
Interest Rates
Annualised Yield^
7 to 14 days
3.25%
3.25%
3.75%
3.75%
15 to 45 days
3.50%
3.50%
4.00%
4.00%
46 to 90 days
4.00%
4.00%
4.50%
4.50%
3 months to < 6 months
4.50%
4.50%
5.00%
5.00%
6 months to < 9 months
4.75%
4.78%
5.25%
5.28%
9 months to < 1 year
5.00%
5.06%
5.50%
5.58%
1 Year < 18 months
5.75%
5.88%
6.25%
6.40%
18 Months to < 3 years
6.00%
6.14%
6.50%
6.66%
3 Years to <= 10 years
6.25%
6.40%
7.00%
7.19%
Interest rates are subject to change at the sole discretion of the Bank.
**Senior Citizen rates are applicable only for Domestic Deposits
^Annualized yields published, compounded quarterly.
Airtel Payments Bank in tie-up with IndusInd Bank has started its new Fixed Deposit service on the Airtel Thanks app from 26th April 2022. Thus, Airtel customers can benefit from this along with the existing Airtel Payments Bank savings account.
You can make an FD starting from ₹500 and up till ₹1,90,000. Multiple FDs are possible. You can choose from a fixed tenure of either 1 yr, 2 yrs, or 3 yrs only. The best part here is that if you opt for premature withdrawal i.e. break your FD then there is no penalty. Many banks have a 1% penalty.
Airtel Payments Bank in partnership with IndusInd Bank is offering upto 7% interest to seniors while upto 6.5% to others. This is great where top banks are currently providing interest rates in the bracket of 5%-6%.
Tenure
Interest Rate
Interest Rate for Senior Citizens
1 year
6%
6.5%
2 years
6.25%
6.75%
3 years
6.5%
7%
Google Pay also has their Fixed Deposit service with Equitas Small Finance Bank so it will be interesting to see how this one comes across. What do you think about the Airtel Payments Bank FD? Do let us know below.