JioFinance app now offering FDs, earn up to 8.15% across banks, NBFCs

• JioFinance app now allows users to invest in FDs from banks and NBFCs
• Users can compare FDs by interest rate and tenure, with rates up to 8.15 percent
• FD investments range from Rs 1,000 to Rs 3 crore; no loans against FDs.

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JioFinance app users can now book fixed deposits (FDs) offered by banks and NBFCs on the platform. The mobile app, available for both Android and iOS, helps users compare FDs by adding filters to sort by interest rate and tenure, aiming to make the user experience seamless and support decision-making.

JioFinance has tied with Unity Small Finance Bank, Suryoday Small Finance Bank, Bajaj Finance, Shriram Finance, Utkarsh Small Finance Bank and Mahindra Finance, which are offering interest rates of up to 8.15 percent per annum for various tenures.

“The diverse bouquet of FDs on offer from a wide range of providers is a part of our endeavour to empower users to make smart money choices, aligned to their life goals. FDs remain a popular savings choice in the country, yet users often struggle to compare issuers, understand rates, or track their deposits across platforms," Jio Finance Platform and Service CEO Surbhe S Sharma said.

"We are removing that friction by enabling a seamless and transparent end-to-end digital journey for discovering, comparing, booking, and tracking FDs."

The app provides a unified dashboard to monitor ongoing and closed FDs, including tracking of returns, maturity dates and reminders for renewals. Users can also view details on tenure, tax applicability, lock-ins, terms and conditions of premature withdrawals. It supports a completely digital end-to-end process for booking FDs in minutes, without any manual intervention.

Features and benefits of JioFinance fixed deposits

• End-to-end digital FD booking in minutes

• View tenure, tax, lock-in and withdrawal terms

• Unified dashboard to track active/closed FDs, returns and maturity alerts

Backed by Reliance Group, JioFinance operates as a unified platform for UPI, digital banking, loans, savings, investments, insurance and wealth tracking and has now added fixed deposits to its offerings.

The fixed deposit offering on the app is powered by Blostem Fintech Private Limited, a B2B banking infrastructure platform which is integrated as a Business Correspondent and/or Technical Service Provider (TSP) with multiple banks and NBFCs.

Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.