Paytm Payments Bank also gives the facility of making FD. The maturity period of this FD is only 356 days and it is getting 6 percent interest.
New Delhi. Even today, when it comes to investing, most people recommend FD i.e. Fixed Deposit. FD is considered to be a better option in terms of investment, which gives guaranteed returns. In this, more returns are available than the Savings Account. However, in the past, there has been a big fall in the FD rates of many banks including SBI, ICICI Bank, HDFC Bank. In such a situation, today we are going to tell you about such a bank, which is providing FD facility at 6 percent rate and there is no penalty on premature withdrawal. We are talking about the FD of Paytm Payments Bank.
Partnership with IndusInd Bank
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.
Maturity period is only 356 days
The maturity period of FD in Paytm Payments Bank is 356 days and it is getting 6 percent 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.
Top 3 government banks which are paying more interest on FD
Talking about public sector banks, Union Bank is offering the highest interest on FDs. The bank is giving 5.60 percent interest on long term FD. At the same time, senior citizens are getting 6.10 percent interest. Canara Bank is second in paying more interest. It is offering 5.50 per cent interest on long term FDs, while senior citizens are getting 6 per cent interest. SBI is at number three in the list of paying high interest on fixed deposits. SBI is giving 5.40 percent interest to its customers. (These interest rates are for deposits up to Rs 2 crore on investment of 5 to 10 years.)
