Bharti Airtel on Monday announced the launch of a fixed deposits marketplace under its digital arm Airtel Finance, backed by partnerships with non-bank finance companies (NBFCs) and small finance banks (SFBs).

The marketplace enables Airtel Finance to provide an assured return and fixed-income investment option on the digital platform that is built on the Airtel’s Thanks App framework, according to a company statement.

“These fixed deposits come at an attractive interest rate of up to 9.1 per cent per annum,” the statement said.

Airtel Finance has partnered SFBs and NBFCs, including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday SFB and Shriram Finance. The partnerships with SFBs will allow the benefit of insurance of up to ₹5 lakh per PAN per bank by RBI subsidiary Deposit Insurance and Credit Guarantee Corporation. Deposits with NBFCs, however, do not have the benefit of such insurance.

According to interest rates on the websites, Suryoday SFB is offering an interest rate of 9.10 per cent on deposits above two years but up to three years for senior citizens. Shivalik SFB is also offering an interest rate of 9.05 per cent to senior citizens on deposits between 18 months and 24 months. Shriram Finance is offering interest rates of 8.25 per cent on FDs with a 36-month tenor.

Anshul Kheterpal, chief business officer, Airtel Finance, said, “We have partnered the best banks in this venture and promise to offer customers a completely transparent, seamless and digital journey.”