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Paytm Payments Bank customers can now avail high-return fixed deposits

ANI  |  New Delhi [India] 

payments platform Payments on Monday announced its partnership with to introduce a first-of-its kind facility to create a when the balance of a customer's account exceeds Rs one lakh, at the end of the day.

The facility allows Payments customers' to redeem their instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 percent annual interest.

Additionally, if a customer becomes a senior citizen before the maturity period, the deposit will be auto renewed under the senior citizen scheme, thus earning higher interest.

This new offering, which provides hassle-free and paperless experience for customers, will further help boost their savings and earnings potential.

"We are confident our customers would appreciate our efforts to simplify while providing assured returns," said MD and CEO, Paytm Payments Bank,

The bank recently also unveiled 'ATM' outlets that allow customers to open saving accounts and deposit/withdraw

These specially branded outlets will play a key role in bringing banking access to smaller cities and towns by ensuring customers find it easy to locate an access point near them.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 16:05 IST