8 months ago
Amazon Pay Launches Fixed Deposits in India
Amazon Pay, a service by Amazon, has started offering fixed deposits in India.
This means people can now invest their money in fixed deposits through Amazon Pay, starting with just INR 1,000.
They have partnered with several banks and financial companies to offer this service.
The interest rates can go up to 8% per year, and there are extra benefits for senior citizens and women investors.
All the deposits are insured up to INR 5 lakh, which means the money is safe.
Customers can easily compare and choose the best option for them right from the Amazon Pay app.
Amazon Pay has launched fixed deposit options in India in partnership with Shriram Finance, Bajaj Finance, and five banks.
Customers can start investing with a minimum of INR 1,000 and earn up to 8% interest per annum.
Senior citizens get an additional 0.5% interest, and Shriram Finance offers up to 0.5% extra interest for women investors.
All deposits are insured up to INR 5 lakh per depositor per bank under the DICGC.
The service is fully digital, allowing customers to compare, select, and open fixed deposits through the Amazon Pay interface.
- Who
- Amazon Pay, in partnership with Shriram Finance, Bajaj Finance, and five banks
- What
- Launched fixed deposit options for customers in India
- Where
- India
- When
- The launch was announced today (specific date not mentioned)
- Why
- To expand financial services, offer better returns on savings, and provide a comprehensive financial solutions ecosystem
Key facts
- Minimum Investment
- INR 1,000
- Interest Rates
- Up to 8% per annum
- Senior Citizen Bonus
- Additional 0.5% interest
- Women Investor Bonus (Shriram Finance)
- Up to 0.5% additional interest
- Deposit Insurance
- Up to INR 5 lakh per depositor per bank under DICGC
- Partner Institutions
- Shriram Finance, Bajaj Finance, Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice, Utkarsh Small Finance Bank
Quotes
Vikas Bansal
CEO, Amazon Pay
“Fixed income instruments remain hugely popular in India given their simple construct, guaranteed returns, and low risk profile. With this launch at the start of the new year, we're expanding customer choice and helping customers achieve better returns on their savings, giving them an optimal foundation for their 2026 financial goals. This is another step in our journey to build a comprehensive financial solutions ecosystem that serves the diverse needs of Indian customers.”
thehansindia.com
