Airtel Payments Bank FD Interest Rates: Current Rates Guide
Airtel Payments Bank FD Interest Rates
Airtel Payments Bank offers fixed deposit (FD) accounts in partnership with partner banks, allowing customers to earn higher returns on their savings. As a payments bank, Airtel itself does not directly offer FDs under its own balance sheet, but facilitates FDs through its app for customer convenience.
How Airtel Payments Bank FD Works
Airtel Payments Bank has partnered with banks and NBFCs to offer fixed deposit options through the Airtel Thanks app. When you create an FD via the app, your money is placed with the partner institution, not retained by Airtel Payments Bank itself.
Indicative FD Interest Rate Ranges
| Tenure | Indicative Interest Rate |
|---|---|
| 7 days to 29 days | 3.00% to 4.00% p.a. |
| 30 days to 90 days | 4.50% to 5.50% p.a. |
| 91 days to 180 days | 5.50% to 6.50% p.a. |
| 181 days to 1 year | 6.00% to 7.00% p.a. |
| 1 year to 3 years | 6.50% to 7.50% p.a. |
Note: Interest rates vary by partner bank and are subject to change. Always check the Airtel Thanks app for the latest applicable rates before booking an FD.
How to Book an FD via Airtel Thanks App
- Open the Airtel Thanks app and go to the Payments Bank section.
- Tap on Fixed Deposit or Investments.
- Select a partner bank and choose your deposit amount and tenure.
- Review the interest rate and maturity amount shown.
- Confirm and complete the transaction using your MPIN or UPI PIN.
- Your FD is created and you will receive a confirmation.
Key Takeaways
- FDs via Airtel Payments Bank are offered through partner banks, not directly by Airtel.
- Interest rates vary by partner bank and tenure.
- Senior citizens may get an additional 0.25% to 0.50% interest rate on FDs.
- The minimum FD amount is typically Rs 1,000.
- Premature withdrawal is allowed but may attract a penalty.
Frequently Asked Questions
Does Airtel Payments Bank directly offer FDs?
As a payments bank, Airtel cannot take term deposits on its own balance sheet. FDs are offered through partner financial institutions via the Airtel Thanks app.
Are FDs via Airtel Thanks app covered by DICGC insurance?
DICGC insurance covers deposits with the partner bank up to Rs 5 lakh. Confirm with the specific partner bank for their DICGC coverage details.
What is the minimum amount to open an FD?
The minimum amount varies by partner. It is typically Rs 1,000. Check the app for the latest minimum deposit requirement.
Can I break my FD before maturity?
Yes. Premature withdrawal is allowed but may attract a penalty, reducing the effective interest earned.
How do I check my FD details after booking?
You can view your active FDs in the Fixed Deposit section of the Airtel Thanks app at any time.
