* Partners with leading NBFCs and Small Finance Banks for this
* Allows customers to manage their investments securely through Airtel Thanks App
Lucknow: Bharti Airtel (‘Airtel’), one of India’s leading telecom service providers has announced the launch of a Term Deposit Marketplace under its digital arm, Airtel Finance. This Term Deposit scheme will be available at an attractive interest rate of up to 9.1% per annum.*
This marketplace offers Airtel Finance a guaranteed return and fixed income investment option on the digital platform built under Airtel’s Thanks App framework. This scheme further strengthens its portfolio of personal loans, Airtel Axis Bank cobrand credit card, Airtel Bajaj Finserv Insta EMI card, credit card marketplace and gold loan offerings.
Anshul Kheterpal, Chief Business Officer, Airtel Finance said, “We are constantly innovating to offer products that are customer-centric and in this endeavour, today we are delighted to announce our Fixed Deposit scheme. The Fixed Deposit scheme comes with an attractive interest rate that will help our customers better manage their funds and meet their financial goals. In this venture, we have partnered with the best banks and promise to provide customers with a completely transparent, seamless and digital experience.”
On the Airtel Thanks app platform, customers can directly manage their funds by joining a Fixed Deposit scheme with a minimum investment of Rs 1000 without opening a new bank account.
It is a completely digital process with three simple steps:
1. Compare and select FDs.
2. Enter relevant details and complete KYC.
3. Pay using existing bank account.
This service is currently available only on Android devices. It will soon be made available on iOS devices as well.
Airtel Finance has launched a fixed deposit scheme in partnership with several small finance banks and NBFCs including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday Small Finance Bank and Shriram Finance. This will help customers get assured returns at high interest rates.
Bank fixed deposits are insured by DICGC – Deposit Insurance and Credit Guarantee Corporation (a 100% subsidiary of RBI) up to Rs 5 lakh per bank per PAN number. This will help customers invest in small finance bank deposit schemes with assurance. Airtel Finance is also offering anytime withdrawal option from fixed deposits after seven days, which will take away all the worries of customers about lock-in time and shortage of cash.
Trusted by over eight lakh customers, Airtel Finance is a financial services platform with an advanced portfolio of schemes aimed at providing personalised, simplified and secure financial solutions to customers. Currently, Airtel Finance offers a range of products including Airtel Flexi Credit Personal Loans, Co-brand Credit Cards, Co-brand Insta EMI Cards and Gold Loans in collaboration with financial institutions, all easily accessible on its Thanks app. Additional products such as Business Loans and Secured Loan products will be available soon. Airtel Finance is on its way to becoming a one-stop-solution for all financial product needs of its over 350 million customers across the country.