Paytm Payments Bank 2024 – Fixed deposit accounts with investments starting as low as Rs are available from the Paytm Payments Bank Limited (PPBL). 100, and a rate of interest of up to 5.5%. The IndusInd bank has collaborated with the PPBL. Customers now have the option to open a fixed-deposit account at the IndusInd bank as a result of the collaboration.
A type of savings account called a fixed deposit account lets you put aside a set amount of money for a set amount of time. You can lock in a specific amount of money and earn interest on your savings with a fixed deposit account. However, you may be subject to a penalty if you need to withdraw funds from your fixed deposit prior to the maturity date.
Paytm Payments Bank 2024
You can open a fixed deposit (FD) account with Paytm Payments Bank Limited (PPBL) so that you can get the most out of your savings. In partnership with the IndusInd Bank, Paytm Payments Bank has launched this program, and the interest rate will be determined by the latter.
Your Paytm passbook will contain the information about your Paytm Payments Bank Fixed Deposit. As a PPBL customer, you should be aware that the RBI stipulates that your account balance cannot exceed Rs. 2 lakh. As a result, in collaboration with IndusInd Bank, PPBL will open a FD account in your name.
Paytm Payments Bank 2024 Details
| Bank Name | Paytm Payments Bank |
| Article Name | Paytm Payments Bank Interest Rate For FD |
| Category | Trending |
| Official Website | Click Here |
About Paytm Payments Bank
As an associate of Paytm, Paytm Payments Bank Limited (PPBL) has been added to the Second Schedule to the Reserve Bank of India Act, 1934, and has been granted Scheduled Bank status by the Reserve Bank of India (RBI).
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Interest Rate For FD Features
The following are some characteristics of fixed deposits:
- The amount of the fixed deposit in the Paytm Payments Bank 2024 has a maturity period of 356 days.
- 5.5% is the interest rate for the duration of the loan.
- On maturity, the fixed deposit amount will be available for automatic renewal.
- The PPBL’s redemption facility is instantaneous.
- Customers who wish to withdraw their fixed deposit funds prior to maturity are not subject to a penalty fee from the PPBL.
- The payments bank’s licensing and operating guidelines stipulate that a customer’s daily aggregate balance cannot exceed Rs. 2 lakhs.
- In any case, the fixed deposit will not earn interest if the customer closes the account before the minimum of seven days have passed.
- If anyone wishes to renew their fixed deposits, the new deposit amount will be equal to the original principal deposit plus any accrued interest and TDS.
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Paytm Payments Bank Benefits of Fixed Deposit
If you are looking to save money and grow your wealth over time, a fixed deposit is the perfect solution. With a fixed deposit, you can lock in a rate of interest and receive your money back as soon as your investment is returned to you. Plus, with Paytm Payments Bank, you can enjoy a number of benefits that will help you make the most of your deposit. In this blog post, we will discuss some of the key benefits of investing in a fixed deposit with Paytm Payments Bank and how they can benefit you. The following are some of the advantages of a Paytm Payments Bank 2024 fixed deposit:
Safe Investment Option
Because they offer a fixed interest rate that is unaffected by market conditions, fixed deposits (FDs) are regarded as one of the safest investment options. As a result, they are a stable and dependable investment choice.
Assured Rate of Interest
The holders of a fixed deposit (FD) are ensured to receive a predetermined interest rate on the amount they have deposited. Online calculators offered by many banks enable FD holders to estimate the interest they will receive upon maturity. These calculators are available on the websites of the banks.
Hassle-free investment
You can put money into fixed deposits (FDs) with a savings account. You can invest in an FD either in person at a bank branch or online. can choose to renew the FD when it expires or have the money credited back to your account.
Compound interest
You might be able to earn compound interest if you reinvest the amount of your matured fixed deposit (FD). You will earn interest on both the principal amount of your FD and any accumulated interest thanks to compound interest. As a result, you might see a greater total return on your investment.
Tax Saving
Many Indian banks provide customers with tax-saving fixed deposit (FD) options. By investing a portion of their income in an FD, customers can reduce the amount of taxable income they must pay.
Flexible Tenure
Investors have a choice of terms for fixed deposits (FDs), ranging from seven days to ten years. FDs can be used for both personal and commercial purposes. You could, for instance, put your money into a tax-free FD with a five-year lock-in if you want to access it after five years.
Loan against FD
Instead of taking out an unsecured loan with a higher interest rate, a person can finance themselves using the funds from a fixed deposit (FD). The interest rate on loans secured by FDs is lower than that of the FD itself. Additionally, the depositor does not have to cancel their FD in order to take out a loan against it. They can continue to use the loan funds for their financial requirements while also earning interest on the FD.
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Paytm Payments Bank Fixed Deposits Interest Rates 2024
The financing cost brought about on the proper store is determined as presented by the IndusInd bank. The appropriate rate is determined according to the date of making the decent store account in the PPBL. One might investigate the Paytm Payments Bank 2024 revenue table for reference computation of their loan fee.
| The interest rate with effect | Less than 2 Crore (Domestic/ NRE/NRO/) NRE Deposit rates are applicable only for tenure of 1 year onwards | Less than 2 Crore (Senior Citizens) Not Applicable for NRO/NRE only | 2 Crore to less than 5 Crores (Domestic/NRE/NRO deposits) – premature withdrawal is not allowed | 1 Crore to less than 5 crores (Domestic/NRO/NRE deposits) -premature withdrawal is not allowed (Only for non-individuals) |
| 7 – 14 days | 2.75 | 3.25 | 2.75 | 2.75 |
| 15 – 30 days | 2.75 | 3.25 | 2.75 | 2.75 |
| 31 – 45 days | 3 | 3.5 | 3.15 | 3.25 |
| 46 – 60 days | 3.5 | 4 | 3.4 | 3.5 |
| 61 – 90 days | 3.75 | 4.25 | 3.5 | 3.6 |
| 91 -120 days | 4 | 4.5 | 3.75 | 3.85 |
| 121 – 180 days | 4.5 | 5 | 4.25 | 4.35 |
| 181 – 210 days | 5 | 5.5 | 4.75 | 4.85 |
| 211 – 269 days | 5.25 | 5.75 | 5 | 5.1 |
| 270 – 354 days | 5.5 | 6 | 5.25 | 5.35 |
| 355 – 364 days | 6 | 6.5 | 5.5 | 5.6 |
| 1 to 9 months | 6 | 6.5 | 5.5 | 5.6 |
| 1.6 to 1.7 years | 6 | 6.5 | 5.5 | 6.35 |
| 1.7 to 1.11 years | 6 | 6.5 | 5.5 | 6.35 |
| 2 to 2.5 years | 6.5 | 7 | 6.25 | 6.35 |
| 2.6 to 2.9 years | 6.5 | 7 | 6.25 | 6.35 |
| 2.9 to 3 years | 6.5 | 7 | 6.25 | 6.35 |
| Above 3 years up to 61 months | 6 | 6.5 | 5.75 | 5.85 |
| 61 months and above | 6 | 6.5 | 5.5 | 5.5 |
| Tax Saver scheme (5 years) | 6 | 6.5 | NA | NA |
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Paytm Payments Bank Fixed Deposit Interest Rate Calculator
The Paytm Payments Bank Fixed Deposit calculator is a user-friendly and hassle-free tool for quickly calculating the maturity amount and interest earned and due at policy termination. You can determine the appropriate FD amount by entering some fundamental information. An investor can use the FD Calculator to determine the rates for fixed deposits by following these steps.
The amount that is invested
The Rate of Interest offered
The tenure of the Fixed Deposit Account
The compounding period, that is, yearly, half-yearly, quarterly, or monthly
The FD Amount
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