banking Amidst the increasing competition in the sector, many SFBs are giving tough competition to the big banks of the country. But now an online payment company has also come into this competition, due to which banks will start getting more competition than before. Yes, online payment company Mobikwik has started Fixed Deposit (FD) scheme through its mobile app. The competition on Wednesday announced the launch of FDs in partnership with financial services companies Mahindra Finance, Shriram Finance and Bajaj Finserv.
Mobikwik will give 9.5 percent interest on FD to users
Mobikwik has announced to give 9.5 percent interest on FD to its users. The special thing is that to start FD in Mobikwik, you will not need to open a new bank account. FD can be started with just Rs 1000 on online payment platform. In this, users will get the facility to get FD for a minimum period of 7 days to a maximum of 60 months i.e. 5 years. MobiKwik said in a statement that the objective of this financial product is to make savings easier for its users.
Compared to big banks, customers will get extra 2 percent interest.
Let us tell you that all the big banks of the country – State Bank of India, Punjab National Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank etc. are not giving 9.5 percent interest on FD to their customers. SBI offers maximum interest of 7.25 percent on FD of 444 days, PNB 7.30 percent on FD of 400 days, HDFC Bank 7.40 percent on FD of 4 years 7 months to 55 months, ICICI Bank maximum interest offer of 7.25 percent on FD of 15 to 18 months. doing. In such a situation, Mobikwik hopes that common people will make FD through their platform for higher returns on FD.
