Paytm Payments Bank FD Interest Rates

The Paytm Payments Bank Limited (PPBL) offers fixed deposit accounts with investments starting as low as Rs. 100 and an interest rate of up to 5.5 %. The PPBL has made collaborations with the IndusInd bank. Due to the collaboration, the customers get an option of booking a fixed deposit account in the IndusInd bank as well.

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Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
Indian Overseas Bank FD Rates 3.40% - 5.20% 3.90% - 5.70%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Punjab National Bank FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
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Features:

Some features of the fixed deposits are listed below:

  • The maturity period of the fixed deposit amount in the PPBL is 356 days.

  • The interest on the maturity of the entire term is 5.5 percent.

  • An auto-renewal facility of the fixed deposit amount will be provided on maturity.

  • The redemption facility provided by the PPBL is instant.

  • The PPBL does not charge any penalty fee on customers who want to collect their amount from the fixed deposit before maturity.

  • As per the protocols of RBI on the licensing and operating guidelines for the payments bank, the daily aggregate balance for a customer does not exceed Rs.2 lakhs.

  • In any case, if the customer closes the fixed deposit account before the minimum period of 7 days, no interest will be applicable on the fixed deposit.

  • If anybody wants to renew their fixed deposits, the new deposit amount will be renewed as the previous principal deposit plus the incurred interest minus the TDS as the fresh renewed principal deposit.

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Paytm Payments Bank Fixed Deposits Interest Rates 2023

The interest rate incurred on the fixed deposit is calculated as offered by the IndusInd bank. The applicable rate is calculated as per the date of creating the fixed deposit account in the PPBL. 

One may take a look at the Paytm Payment Bank interest table for reference calculation of their interest rate. 

The interest rate with effect from 4th June 2022 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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About Paytm Payments Bank Fixed Deposit Interest Rate Calculator

Paytm Payments Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • 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

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

FD interest rates India have fallen consistently over the last 10 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years

Paytm Payments Bank Fixed Deposits Interest Rates Features 

The Paytm Payments Bank FD rates have some particular features. They are:

  • The interest earned on the PPBL fixed deposit amount is calculated per period as per the IndusInd bank FD interest table as applicable when the fixed deposit is created. 

  • The interest value on the principal deposit will be rounded off to the nearest integer. For example, ₹15.50 may be rounded off to ₹16 or ₹15.

  • The PPBL offers a nil balance account system.

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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Summing it up

To open a fixed deposit account at PPBL, one must also constantly be updated on the factors that induce risk on the Paytm Payments Bank FD rate. They are default repayment problems, unforeseen complications with changes in the interest rates to cater to the government and market policies from time to time.

*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023

FD Calculator

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₹500 ₹30L
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