Amazon Pay: You can now invest in FDs through Amazon Pay; a bank account is not required..
Amazon Pay Fixed Deposit Investment Service: After UPI and bill payments, Amazon Pay has now entered the investment services sector. The company has launched a Fixed Deposit (FD) investment service, allowing users to invest in FDs directly through the Amazon Pay app. This service involves partnerships with NBFCs, Small Finance Banks, and one bank. Importantly, a separate savings account is not required to open an FD. The minimum investment starts at Rs. 1,000, and interest rates can go up to 8 percent per annum.
What's special about the Amazon Pay FD service?
This new Amazon Pay service is for users who want safe and guaranteed returns. With this service, users will not need to open a separate savings account with any NBFC, Small Finance Bank, or bank. The entire process is digital and completed within the Amazon app. The company says that fixed-income products are quite popular in India, and this service has been launched keeping in mind the financial goals of 2026.
Which banks and NBFCs are offering options?
According to Amazon Pay, the banks offering FD investments include Shivalik Small Finance Bank, Suryoday Small Finance Bank, Slice Small Finance Bank, Utkarsh Small Finance Bank, and South Indian Bank. NBFC partners include Shriram Finance and Bajaj Finance. These institutions offer FD options with varying tenures and interest rates, allowing investors to select according to their needs.
Interest Rate, Security, and DICGC Cover
Investors can earn up to a maximum of 8 percent per annum interest on Amazon Pay FDs. Shriram Finance also offers an additional 0.5 percent interest to women. The company has also clarified that deposits made in partner banks are insured up to Rs. 5 lakh under DICGC. This insurance is provided by the Deposit Insurance and Credit Guarantee Corporation, a subsidiary of the RBI. This provides additional security to investors.
How to invest in FDs through the Amazon Pay app?
The process of investing in FDs through the Amazon Pay app has been kept very simple. Users need to open the Amazon app and go to the Amazon Pay section, where they will find the Fixed Deposit option. After accepting the terms and conditions, they can choose their preferred bank or NBFC. Then, they can enter the FD tenure and investment amount to complete the process digitally. The entire process is completed within the app.
Small Finance Banks FD Interest Rates
FD Rates for General Citizens
Bank Name Maximum Interest Rate Tenure
Shivalik Small Finance Bank 7.50% 21 months 1 day to 22 months
Slice Small Finance Bank 7.75% 18 months 1 day to 18 months 2 days
Suryoday Small Finance Bank 8% 5 years
Utkarsh Small Finance Bank 7.50% 2 to 3 years
FD Rates for Senior Citizens
Bank Name Maximum Interest Rate Tenure
Shivalik Small Finance Bank 8% 21 months 1 day to 22 months
Slice Small Finance Bank 7.75% 18 months 1 day to 18 months 2 days
Suryoday Small Finance Bank 8% 5 years
Ujjivan Small Finance Bank 7.95% 2 years
Utkarsh Small Finance Bank 8% 2 to 3 years
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