Bharti Airtel, a leading Indian telecommunications provider, announced today the introduction of a fixed deposit marketplace through its digital arm, Airtel Finance. The new service offers interest rates up to 9.1 per cent per annum, significantly higher than current industry standards.
The shares of Bharti Airtel Limited were trading at ₹1,544.20, up by ₹4.95 or 0.32 per cent on the NSE today at 3.27 pm.
The fixed deposit platform, accessible via the Airtel Thanks App, allows customers to invest a minimum of ₹1,000 without opening a new bank account. Airtel has partnered with several small finance banks and NBFCs, including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday Small Finance Bank, and Shriram Finance, to provide this service.
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Anshul Kheterpal, Chief Business Officer of Airtel Finance, emphasised the customer-centric approach of the new offering. The service promises a transparent, seamless, and entirely digital process for booking and managing fixed deposits.
This launch expands Airtel Finance’s portfolio, which already includes personal loans, credit cards, and gold loans. The company aims to become a comprehensive financial solution provider for its 350 million+ customers across India.
The fixed deposit service is currently available on Android devices, with iOS availability expected soon.
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Published on September 9, 2024
https://www.thehindubusinessline.com/markets/stock-markets/airtel-launches-high-interest-fixed-deposit-service/article68621337.ece
