Airtel Finance launches fixed deposits with up to 9.1% interest rates

Srinagar, Sep 09: Bharti Airtel, a leading telecommunications provider in India, has announced the launch of a fixed deposits marketplace through its digital platform, Airtel Finance. The new offering features competitive interest rates of up to 9.1% per annum.

A statement said that the marketplace, integrated into Airtel’s Thanks App, provides customers with an assured return and fixed-income investment option.

This move further expands Airtel Finance’s portfolio, which already includes personal loans, co-branded credit cards, EMI cards, a credit card marketplace, and gold loans.

Anshul Kheterpal, Chief Business Officer of Airtel Finance, stated, “We are excited to announce our Fixed Deposits proposition, offering attractive interest rates that will help customers manage their funds better and achieve their financial goals. Our partnership with leading banks ensures a transparent and seamless digital journey.”

Through the Airtel Thanks App, customers can book and manage fixed deposits with a minimum investment of INR 1,000, without needing to open a new bank account. The process is entirely digital and involves just three steps: selecting an FD, completing KYC, and making a payment via an existing bank account. This service is currently available on Android and will soon be available on iOS.

The statement said that Airtel Finance has partnered with small finance banks and NBFCs, including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday Small Finance Bank, and Shriram Finance, to offer these fixed deposits. These FDs are insured up to INR 5 lakh per PAN per bank by the Deposit Insurance and Credit Guarantee Corporation (DICGC), providing greater assurance to customers. Additionally, customers can withdraw their deposits anytime after seven days, offering flexibility and liquidity.