Bharti Airtel has introduced a new fixed deposits marketplace under its digital financial services arm, Airtel Finance. The service, launched on Monday, is a result of partnerships with leading non-banking financial companies (NBFCs) and small finance banks, offering assured returns and fixed-income investment options to its customers.
The fixed deposit service is available through the Airtel Thanks App and offers competitive interest rates of up to 9.1% per annum. Airtel Finance has collaborated with multiple financial institutions, including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday Small Finance Bank, and Shriram Finance, to provide customers with an attractive fixed deposit solution. These partnerships allow users to secure higher interest rates, providing a compelling alternative to traditional banking options.
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Customers can book and manage their fixed deposits directly through the Airtel Thanks App without the need to open a new bank account. The minimum investment required to open a fixed deposit is as low as Rs 1,000. The service also offers the flexibility of withdrawing funds any time after seven days, addressing concerns about lock-in periods and liquidity constraints.
Anshul Kheterpal, Chief Business Officer at Airtel Finance, highlighted the seamless and transparent digital journey offered by this new service, ensuring a smooth experience for users. The fixed deposit marketplace is part of Airtel Finance’s broader financial services portfolio, which includes products like personal loans, co-branded credit cards, Insta EMI cards, and gold loans.
Airtel Finance aims to expand its offerings further, with plans to introduce business loans and secured lending products in the future, continuing its mission to provide simplified, secure, and personalised financial solutions through its digital platform.
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(With Inputs From PTI Agency)