Paytm Payments Bank customers will be able to make payments on Paytm from their Fixed Deposit account.
New Delhi. Digital payment and financial services company Paytm has recently launched a new facility. Actually, customers of Paytm Payments Bank can make payment from the balance available in the FD account (Paytm Bank FD) through the payment gateway.
Understand in simple language that if you want to do mobile recharge, DTH recharge or any payment through Paytm, then in addition to Debit Card, Credit Card, Paytm Wallet, Paytm Bank Saving Account, Netbanking and UPI, Paytm Bank FD will also be a payment mode.
Partnership with IndusInd Bank
Paytm Payments Bank is not directly permitted to provide the facility of Fixed Deposit. Therefore Paytm Payments Bank has partnered with IndusInd Bank for this.
Partnership with IndusInd Bank
Paytm Payments Bank is not directly permitted to provide the facility of Fixed Deposit. Therefore Paytm Payments Bank has partnered with IndusInd Bank for this. However, the interest rates are decided by IndusInd Bank.
5.5% interest is available on FD in Paytm Payments Bank
The maturity period of FD in Paytm Payments Bank is 356 days and it is getting 5.5% interest. The special thing in this FD is that no charge is to be paid for breaking the FD before the completion of the maturity period. However, if you break it before 7 days, you do not get any interest.
