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Paytm Payment Bank on Friday said it has crossed Rs 600 crore in fixed deposit accounts, held with its partner IndusInd Bank.
“During this period of volatility in other asset classes, a large number of PPB bank account holders are moving their savings into fixed deposits during the ongoing lockdown,” it said in a statement.
The bank had earlier crossed Rs 1,000 crore in savings account and has issued over 5.7 crore digital debit cards.
The bank offers its customers to opt for a fixed deposit account with its partner bank, allowing them to earn up to seven per cent interest annually. The customers can instantly redeem the partial or complete amount from their fixed deposit at any time free of charge.
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