Paytm Payments Bank- The Best Bank To Open a Fixed Deposit Account!

Best Bank To Open a Fixed Deposit Account

A fixed deposit account is a saving for the future. Any person with a bank account can open a fixed deposit account at a competing interest rate. Besides, it is up to the user’s will to lock the amount in the fixed deposit account. However, when it comes to redeeming a certain amount from the fixed deposit, a penalty has to be paid by the user. In contrast, the actual amount can only be redeemed after the maturity date.

While this is about the general process followed by banks, Paytm Payments Bank offers something different to its active users. With an active Paytm Payments Bank savings account, users can open a fixed deposit account with an attractive interest for the account holders to earn.

This blog shows how Paytm Payments Bank is the best bank for a fixed deposit account and can be opened in one step.

Paytm Payments Bank- The best bank for a fixed deposit account

Following are the reasons that prove how Paytm Payments Bank is the right option to open a fixed deposit online

  • Open fixed deposit account at an attractive interest rate of 5.5%
  • Senior citizens can open the fixed deposit account and earn 6% interest on the FD amount
  • There is no specific lock-in period to create a fixed deposit account
  • Users are given the flexibility to redeem the fixed deposit amount or break the fixed deposit whenever required
  • There is no penalty charged on breaking the fixed deposit
  • Paytm users can create a fixed deposit account with PPBL by performing just one single step
  • The details of the fixed deposit account are available in the Paytm passbook

How to open a Fixed Deposit with Paytm?

Paytm users are required to perform the given steps to create a fixed deposit account easily-

  • Open the Paytm application
  • Navigate to ‘Paytm Bank’ and click on it
  • Enter the passcode
  • Locate ‘Create a New Fixed Deposit’
  • Enter the desired amount
  • Click on ‘Proceed’ to open a fixed deposit account

Paytm Payments Bank Fixed Deposit account- Points to Consider

Listed below are some of the pointers a user should be aware of about the PPBL fixed deposit account-

  • Never share the Paytm Payments Bank passcode with anyone
  • Keep the Paytm Payments Bank passcode strong and unique
  • Use the fingerprint to protect the Paytm application and data stored in it more secure
  • Do not share the PPBL credentials with anyone
  • Cross-check the value before proceeding with a fixed deposit account
  • Use stable internet connection while making a fixed deposit with PPBL
  • Timely check terms and conditions

Conclusion

Create Paytm Payments Bank fixed deposit account and get the best interest on the PPBL fixed deposit. Redeem the fixed deposit amount before maturity anytime without paying any penalty. Install the application to experience the same.

FAQs
How much interest is given under PPBL senior citizen fixed deposit account?
An interest of 6% is provided on the PPBL senior citizen fixed deposit account.
How can I create my FD with Paytm Payments Bank?
It is mandatory to create a Paytm Payments Bank savings account before starting an FD. Once done, create a fixed deposit account by performing one single step.
What is the interest rate that Paytm offers on a fixed deposit account?
Paytm offers an interest rate of 5.5% on fixed deposits to its account holders.
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