Amazon FD: Amazon Pay, which has established a strong foothold in the digital payments space, has now expanded its investment services offering. Following UPI, mobile recharge, and bill payments, the company has now launched a Fixed Deposit (FD) investment service. This new feature allows users to invest in FDs directly from the Amazon Pay app. Significantly, this doesn’t require a separate savings account, and the entire process can be completed digitally.
This Amazon Pay service is aimed at investors looking for investment options with safe and fixed returns. The company has partnered with several small finance banks, a private bank, and NBFCs for FD investments. The minimum investment amount is Rs 1,000, while the interest rate can go up to 8 percent annually.
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According to the company, the demand for fixed income products is constantly increasing in India. This service has been launched keeping in mind the financial goals of 2026. Users will no longer need to visit a bank branch or go through a lengthy process to make an FD.
With which institutions is the FD option available?
The partner institutions with which options are available under Amazon Pay FD include Shivalik Small Finance Bank, Slice Small Finance Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank and South Indian Bank.
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NBFC partners include Shriram Finance and Bajaj Finance. These institutions offer FD options at varying tenures and interest rates, allowing investors to tailor their investments to their needs.
Interest Rates and Security
Investors can earn up to 8 percent annual interest on Amazon Pay FDs. Shriram Finance is also offering an additional 0.5 percent interest rate for women. The company also clarified that FDs made with partner banks up to ₹5 lakh are protected under the DICGC (Deposit Insurance and Credit Guarantee Corporation), a subsidiary of the RBI, providing additional protection to investors.
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How to make an FD using the Amazon Pay app?
To invest in an FD, users must open the Amazon app and go to the Amazon Pay section. Here, they will find the Fixed Deposit option. After accepting the terms, they must select a bank or NBFC, and then determine the investment amount and term. The entire process is completed within the app, and no paperwork is required.
This new initiative by Amazon Pay, making digital investing easier, can prove beneficial for those who want simple investment options with safe returns.