Airtel Finance has partnered with leading non-banking financial companies (NBFCs) and small finance banks to offer these fixed deposits. The marketplace, which can be accessed through the Airtel Thanks app, allows customers to manage and track their investments easily and securely.
This digital solution complements Airtel Finance’s growing portfolio, which already includes personal loans, Airtel Axis Bank co-branded credit cards, Airtel Bajaj Finserv Insta EMI cards, a credit card marketplace and gold loan services.
Read also: Bharti Airtel and Apple sign a deal for Apple TV and music in India
On the Airtel Thanks app platform, customers can book and manage fixed deposits directly without opening a new bank account with a minimum investment of ₹1,000. This service is currently only available on Android devices. iOS will be available soon.
It is a completely digital process with three simple steps:
1. Compare and select FD.
2.
Enter details and complete KYC.
3. Make payment through an existing bank account.
Airtel Finance has offered the fixed deposit service through a partnership with several small scale banks and NBFCs including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday Small Finance Bank and Shriram Finance. This will help customers get guaranteed returns at high interest rates.
Bank fixed deposits are insured up to ₹5 lakh per PAN per bank by the Credit Guarantee and Deposit Insurance Corporation (a 100% subsidiary of the RBI). This will help customers to invest in small scale bank deposits with greater security.
Read also: Festive frenzy: Airtel and Jio launch prepaid plans with OTT benefits and extra data
Airtel Finance also offers Fixed Deposit options with withdrawal anytime after seven days, which will put an end to all customer worries about lock-in and lack of liquidity.
Anshul Kheterpal, Chief Business Officer, Airtel Finance, said, “We are constantly innovating to offer customer-centric products and in this regard, today we are happy to announce the launch of our Fixed Deposit proposition. Fixed Deposits come at an attractive interest rate that will help our customers manage their funds better and achieve their financial goals. We have partnered with top banks on this initiative and promise to offer customers a completely transparent, seamless and digital experience.”
Read also: Bharti Airtel wins GST lawsuit battle: Here’s how much the telco will pay now
Shares of Bharti Airtel Ltd closed at ₹1,538.90, down ₹0.20, or 0.013%, on the BSE.
Disclaimer
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.