Lockdown in India: Paytm Payments Bank logs whopping increase in fixed deposit; crosses Rs 600 crores in FDs
Lockdown in India: Paytm Payments Bank Ltd (PPBL) has crossed Rs 600 crores in fixed deposit accounts, held with its partner IndusInd Bank.
Lockdown in India: Paytm Payments Bank Ltd (PPBL) has crossed Rs 600 crores in fixed deposit accounts, held with its partner IndusInd Bank. During this period of volatility in other asset classes, a large number of PPB bank account holders are moving their savings into fixed deposits.
Speaking on the achievement Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “Our efforts are aligned with our mission of bringing financial inclusion in our country. We believe that wealth management products should be available to all, irrespective of their quantum of wealth. It is a proud moment for us to see that millions of bank account holders understand the benefit of fixed deposits. This also signifies the trust & relationship that we have built with our customers over the years."
See Zee Business Live TV streaming below:
The Paytm Payments Bank, which started with the aim of bringing the underserved masses into the digital banking fold has continued to lead the way with its innovative offerings. PPBL offers its customers to opt for an FD account with its partner bank, allowing them to earn up to 7 per cent p.a. interest, which is among the highest in the industry. The customers can instantly redeem the partial/complete amount from their fixed deposit at any time free of charge.
After crossing Rs 1000 crores in savings accounts, this is another milestone achieved by the bank. PPBL has also played a leading role in spreading the reach of debit cards across the country. With over 57 million digital debit cards, the bank now has a debit cardholder in every district of India and is one of the largest RuPay card issuers in the country. It offers flexibility to its customers to choose from VISA, MasterCard, and RuPay debit cards.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:04 PM IST