Do you invest? If not then you are making a big mistake by not investing. The second question is where are you investing? If you are investing in equities, then it is a good thing, as there is expectation of higher returns. But if you are investing in the debt segment then the third year stands as how much return are you getting? Because you will not get more than 7-8 per cent interest on FD, Bond or Post Office schemes. But there is also an option which can give you 11% interest. Here we will give you the details of the same option.Also Read: Now on recharge once, you will get data and free calling for a whole year, Jio, Airtel, Vodafone Idea
Bharat ATM Recurring Deposit
BharatATM in the form of Gramin Neo Bank is offering the highest return of 11 per cent on Recurring Deposit or RD to housewives, senior citizens and even teenagers. This is the annual interest rate that can be found on RD of Bharat ATM. Using proprietary licenses from private banks, it already has a network of 3.5 lakh touchpoints across the country, including 20,000 handheld terminals (wireless ATMs) for cards.
Invest through the app
Its banking app has also launched its ‘investment and lending’ offering for small shopkeepers in rural India. This app offers low interest loan and 10% return on savings to run their day to day business. Bharat ATM is a rural banking platform that offers banking services to small merchants and customers through its banking app.Also Read: How to transfer Rs 10 lakh bank-to-bank through Paytm
4.5 lakh small businessmen joined
It is a fintech startup that has connected 4.5 lakh small merchants covering 14,645 pin codes with a gross transaction value of Rs 2000 crores since its launch 8 months back. In the meantime, it has served more than 20 lakh retail customers for their banking needs. Bharat ATM was launched in December 2020 by Mahagram (parent company), a leading fintech company. Actor Sonu Sood is its brand ambassador.
What services are available from the app
Bharat ATM Key App offers a range of banking services including account opening, depositing and cash withdrawal to rural people in partnership with local kirana stores. This saves time and expense of traveling to the nearest bank branch or ATM. The app allows its retail customers to open a bank account at the neighborhood store with just their Aadhar and PAN card and e-KYC.Also Read: How to make LIC premium payment through Paytm
Over 20 Million Customers
Bharat ATM has helped over 20 lakh customers to avail banking services at their local kirana stores at their doorstep. The company now plans to add around 20 retail stores on the Bharat ATM platform by the end of 2022. The company is also working towards raising $10 million. Bharat ATM is aiming to expand its business to new areas as well.
