Paytm Payments Bank FD 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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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.

Paytm Payments Bank Fixed Deposits Interest Rates 2022

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 IndusInd bank interest table for reference calculation of their interest rate. 

The interest rate with effect from 4th June 2021 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

FD interest have fallen consistently over the last 5 years.
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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.

*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.

Written By: PolicyBazaar - Updated: 23 December 2021
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