JioFinance app introduces one-stop digital platform for bank, NBFC fixed deposits

Jio Financial Services’ JioFinance app has expanded its offerings with the launch of a fixed deposit (FD) marketplace that allows users to compare and invest in deposits from a range of banks and non-banking financial companies (NBFCs) on a single digital platform.

The new feature enables users to browse, book and track fixed deposits through an end-to-end digital journey, strengthening the app’s push to position itself as a unified hub for retail-focused financial services. The FD platform is aimed at customers seeking relatively stable, low-risk savings options, particularly at a time when interest in fixed-income products has been rising amid market volatility.

Through the JioFinance app, users can access fixed deposits offered by multiple institutions, including Unity Small Finance Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank, Bajaj Finance, Shriram Finance and Mahindra Finance. The platform allows filtering and comparison across interest rates and tenures, helping users make more informed choices.

According to the company, interest rates on offer go up to 8.15 per cent per annum, with higher-yield options largely coming from small finance banks and NBFCs. The rates, however, are set solely by the respective institutions and are subject to change. Jio Finance Platform and Service Limited, which operates the app, does not influence pricing.

A key feature of the offering is its paperless booking process. Users can complete FD investments digitally within minutes, without manual intervention. The app also provides detailed information on tenure, tax implications, lock-in periods and premature withdrawal terms, enabling better financial planning.

In addition, the platform offers a consolidated dashboard where users can track active and closed fixed deposits, monitor returns, view maturity dates and receive renewal reminders. This is designed to address a common challenge for retail savers, who often hold deposits across multiple institutions and struggle with fragmented tracking.

The company said the move is part of its broader effort to simplify savings and investment decisions for users by reducing friction in discovery, comparison and monitoring of financial products. Fixed deposits remain one of the most widely used savings instruments in India, but comparing issuers and managing deposits across platforms has traditionally been cumbersome.

The FD marketplace on the JioFinance app is powered by Blostem Fintech Private Limited, which operates as a banking infrastructure provider and is integrated with partner banks and NBFCs as a business correspondent or technical service provider.

Jio Finance Platform and Service Limited is a wholly owned subsidiary of Jio Financial Services Limited (JFSL), which is building a full-stack financial services ecosystem spanning lending, payments, insurance, asset management and wealth services. The latest addition underscores JFSL’s strategy of deepening its digital-first offerings across savings, investments and financial management tools.