JioFinance Launches FD Marketplace Powered by Blostem
Jio Financial Services launches a fixed deposit marketplace on its JioFinance app, powered by Blostem's multi-bank infrastructure, bringing FDs from 6 banks and NBFCs to millions of Jio users.
JioFinance App Launches FD Marketplace Powered by Blostem
Jio Financial Services Limited (JFSL) has launched a fixed deposit marketplace on its JioFinance app, enabling users to compare, invest in, and track FDs from multiple banks and NBFCs through a fully digital process. The FD marketplace is powered by Blostem Fintech Private Limited, which serves as the banking infrastructure provider integrated with partner institutions.
This partnership marks a significant milestone for Blostem, bringing its multi-bank FD infrastructure to one of India's largest and fastest-growing financial platforms backed by the Jio ecosystem.
Partner Institutions at Launch
The marketplace features FDs from six major financial institutions:
- Unity Small Finance Bank
- Suryoday Small Finance Bank
- Utkarsh Small Finance Bank
- Bajaj Finance
- Shriram Finance
- Mahindra Finance
Interest rates on the platform reach up to 8.15% per annum, with higher-yield options available from small finance banks and NBFCs.
Key Features
The JioFinance FD platform offers a comprehensive digital experience:
- Compare and filter: Browse FDs across institutions, filtering by interest rates and tenures
- Paperless booking: End-to-end digital FD booking completed within minutes
- Consolidated dashboard: Track active and closed deposits, monitor returns, view maturity dates, and receive renewal reminders
- Multi-issuer access: Access deposits from banks and NBFCs in a single interface
Why This Matters
Jio Financial Services, registered as a Core Investment Company with the RBI, operates a growing financial ecosystem through subsidiaries and joint ventures including partnerships with BlackRock and Allianz Group. The decision to power their FD marketplace with Blostem's infrastructure validates the B2B2C model for banking product distribution.
For Blostem, this partnership represents access to the massive Jio user base and further establishes its position as the infrastructure layer of choice for India's largest digital platforms looking to offer fixed deposits.
The Infrastructure Behind the Product
Blostem serves as the Business Correspondent and Technical Service Provider, handling the complex backend: multi-bank integrations, KYC orchestration, FD booking workflows, maturity servicing, and regulatory compliance — all abstracted behind clean APIs that the JioFinance engineering team integrates seamlessly.