Indian digital bank, Suryoday Small Finance Bank (SSFB) will be able to provide retail customers with access to a new deposit scheme and expand its FD offerings, utilising tech provided by Tata Digital, the consumer-centric digital product provider, following a new partnership.
Specifically, SSFB will be taking advantage of the benefits of the Tata Neu platform. The SSFB FD offering will now be more widely accessible, meaning more customers will be able to invest in fixed deposits at interest rates of up to 9.1 per cent without the need for a savings account. Furthermore, customers can start investing with as little as Rs. 1,000; the entire onboarding process can be completed within a few minutes.
The partnership announcement comes as SSFB continues to advocate for digital innovation being the key to revolutionising the customer experience. By working together with Tata Digital, the bank is expected to expand its reach and the availability of its deposit scheme offerings.
Commenting on the partnership, Vishal Singh, chief information officer and head – digital banking at Suryoday Small Finance Bank said: “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.”
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.”
The post Fixed Deposit Offerings More Accessible to Consumers Following SSFB and Tata Digital Partnership appeared first on The Fintech Times.
