 "You can now get FD interest rates up to 9.1% without a savings accounts")
Suryoday Small Finance Bank (SSFB), a new-age digital bank in India has inked a pact with Tata Digital to extend its fixed deposit Offerings. Customers can invest in fixed deposits at interest rates of up to 9.1% without the need for a savings account.
SSFB’s FD offering will be available on the Tata Neu platform, Customers can start investing with as little as Rs. 1,000 and the onboarding process can be completed in a few minutes.
This collaboration will enable SSFB to leverage Tata Neu’s reach, providing retail customers with access to the deposit scheme.
"Suryoday has always aimed to offer competitive interest rates for fixed deposits to its customers. Our digital deposit product offers customers the convenience to open, operate and liquidate deposits entirely online. Partnering with Tata Digital expands our reach, allowing us to offer products like this to a wider customer base," said Vishal Singh, Chief Information Officer and Head - Digital Banking at Suryoday Small Finance Bank.
In FY25, Suryoday has partnered with several new-age companies to extend its digital fixed deposit offerings. With an interest rate of up to 9.10%, the bank also offers flexible tenure options and hassle-free withdrawals.
Gaurav Hazrati, Chief Business Officer, financial services at Tata Digital, said, “Fixed deposits have long been a trusted choice for building a safe and stable investment portfolio. With our Fixed Deposit Marketplace, we aim to democratize access to high-yield, fixed-return instruments from multiple trusted providers. This platform is designed to offer competitive interest rates, empowering investors to grow their wealth.”
Investments in bank deposits are safe and insured up to Rs 5 lakh under DICGC insurance.