Suryoday Small Finance Bank (SSFB), a prominent digital-first small finance bank, has announced a strategic partnership with Tata Digital to extend its fixed deposit (FD) offerings via the Tata Neu platform. This collaboration marks a significant step in SSFB’s mission to revolutionize customer experiences through digital innovation, providing retail customers with seamless access to attractive deposit schemes.
The FD product, now accessible on Tata Neu, allows customers to invest in fixed deposits with interest rates of up to 9.1% without requiring a savings account. With a minimum investment amount of just ₹1,000, the process is designed to be quick and efficient, enabling users to complete onboarding within minutes.
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.”
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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.”
This partnership aligns with SSFB’s commitment to simplifying banking experiences and expanding its customer base. In FY25, the bank has collaborated with various digital-first companies to broaden the availability of its deposit products. Offering interest rates up to 9.1% along with flexible tenure options and hassle-free withdrawals, SSFB continues to solidify its position as a leading player in the banking and financial services industry.
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