Hyderabad, Feb 11 (TNT): The JioFinance app on Wednesday said it has launched a unified digital platform that allows users to compare, invest in and track fixed deposits (FDs) offered by multiple banks and non-banking financial companies (NBFCs), strengthening its push to become a one-stop digital financial services destination.
The new feature enables customers to discover FD options from a wide range of providers, including Unity Small Finance Bank, Suryoday Small Finance Bank, Bajaj Finance, Shriram Finance, Utkarsh Small Finance Bank and Mahindra Finance, the companys said in a release.
Users can filter and compare deposits based on interest rates and tenure, with returns of up to 8.15 per cent per annum on offer, particularly from small finance banks and NBFCs.
According to the company, the entire FD booking process is fully digital and paperless, allowing customers to complete investments within minutes.
The platform also provides detailed information on tenure, tax applicability, lock-in periods and premature withdrawal conditions to help users make informed decisions.
A consolidated dashboard within the app enables customers to track active and closed deposits, monitor returns, keep tabs on maturity dates and receive renewal reminders, addressing a common pain point for investors who hold FDs across multiple institutions.
Commenting on the launch, Surbhe S. Sharma, Chief Executive Officer of Jio Finance Platform and Service Limited, said the initiative aims to simplify fixed deposit investing by removing friction in comparison, booking and tracking, while aligning savings choices with users’ life goals.
The fixed deposit marketplace on the JioFinance app is powered by Blostem Fintech Private Limited, which operates as a Business Correspondent and/or Technical Service Provider integrated with several banks and NBFCs.
Users can access the new service by downloading the JioFinance app and selecting the ‘Fixed Deposits’ option from the home page.
TNT KS
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