Paytm Payment Bank FD with Indusland Bank

[Pavan_]

Hey all,
I have a FD of 1.5lakh in Payment Bank.
Is it safe to keep FD in paytm bank or should I withdraw it ?

I know that paytm had partnered with INDUSLAND BANK for FD's & now RBI had banned all the operations of PAYTM Bank after 29th Feb. So I was wondering if should break my FD or keep it ?

- This FD is my Emergency Fund

 

[priya_1729]

Possibly you need to withdraw money from Paytm Payments Bank. If you plan to invest, you can consider Mobikiwik Xtra (12% interest) before 29th Feb.

 

[ShavirB]

Hey all,
I have a FD of 1.5lakh in Payment Bank.
Is it safe to keep FD in paytm bank or should I withdraw it ?

I know that paytm had partnered with INDUSLAND BANK for FD's & now RBI had banned all the operations of PAYTM Bank after 29th Feb. So I was wondering if should break my FD or keep it ?

- This FD is my Emergency Fund

Hi! Prima Facie there is no risk as RBI has specifically stated that you can withdraw your money whenever you want, you can't deposit after 29th Feb 2024. But still as a caution I would advice you to shift your FD somewhere else