Tata Neu Supercharges Savings with Newly Launched Fixed Deposits Marketplace

• Invest digitally in under 10 minutes, starting from just INR. 1,000, and earn up to 9.1% interest
• Customers can choose from both, banks and NBFCs like Suryoday Small Finance Bank, Shriram Finance, Bajaj Finance, for a wide range of investment options
• Investments in bank deposits are safe and insured up to INR. 5 lakh under DICGC insurance

National, January 07, 2025: Tata Digital announces its expansion into the retail investments space with the launch of its Fixed Deposits Marketplace on Tata Neu. This innovative platform empowers its customers to invest in fixed deposits with leading financial institutions at interest rates of up to 9.1%, without the need for a savings bank account.

Investing is now easier and more accessible than ever. In just 10 minutes, Tata Neu customers can start their investment journey with as little as INR. 1,000, all through a seamless digital process. This opens the door to financial empowerment for everyone, regardless of their initial capital. With bank investments insured up to INR. 5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC), consumers get safety and complete peace of mind.

“Fixed deposits have long been a trusted choice for building a safe and stable investment portfolio," said Gaurav Hazrati, Chief Business Officer, Financial Services, Tata Digital. "With our Fixed Deposit Marketplace, we aim to democratize access to high-yield, fixed-return instruments from multiple trusted providers. This simple and secure platform is designed to offer competitive interest rates, empowering both seasoned investors and newcomers to grow their wealth confidently and effortlessly."

Vishal Singh, Head - Digital Banking, 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 innovative products like this to a wider customer base.”

Parag Sharma, CFO & MD, Shriram Finance added, "Shriram Finance is happy to partner with Tata Digital for our Fixed Deposit offering on Tata Neu. We offer better returns with additional benefits for women customers and senior citizens. This partnership will ensure a seamless and hassle-free FD booking experience for customers."

Customers stand to benefit further as more banks are set to join the Fixed Deposit marketplace on Tata Neu. Tata Neu will also launch recurring deposits to enable regular and systematic investments.