Paytm Payments Bank customers can now make payments from the balance available in the FD account through the payment gateway.
New Delhi. If you are a Paytm Payments Bank customer then there is good news for you. Actually, customers of this bank can now 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.
In a statement issued by the company, it has been said that Paytm Payment Gateway is now providing the facility to make payment through fixed deposit account balance. This facility is in association with Paytm Payments Bank Limited, whose account holders can now use their FD balance to make instant payments on the online platform.
In partnership with IndusInd Bank
Paytm Payments Bank is not directly allowed to provide fixed deposit facility. 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, no penalty for breakingFD, 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.
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