Amazon Pay Launches Fixed Deposits with 7 Financial Partners

• Partners with 2 NBFCs and 5 banks to offer fixed deposits via Amazon Pay app.
• Users can start FDs from Rs 1,000 with guaranteed returns and insurance coverage.
• Offers competitive interest rates up to 8 percent, plus additional perks for senior citizens and women investors.

Amazon Pay is expanding its fixed-income offerings by launching fixed deposits for users through its fintech app. The platform has partnered with two non-banking financial companies, Shriram Finance and Bajaj Finance, and five banks including Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice, and Utkarsh Small Finance Bank.

Users can start deposits from as low as Rs 1,000, and access multiple partner institutions without opening separate accounts. Deposits are insured up to Rs 5 lakh per depositor per bank under DICGC guidelines, ensuring a safe investment option for customers.

Interest rates for the fixed deposits go up to 8 percent annually. Additionally, senior citizens get an extra 0.5 percent interest, while Shriram Finance offers an extra 0.5 percent for women investors. Vikas Bansal, CEO of Amazon Pay, said fixed income instruments remain highly popular in India due to their simplicity, low risk, and assured returns.

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Amazon Pay joins other fintechs like Stable Money, Super.money, and MobiKwik in collaborating with banks and NBFCs to distribute fixed deposits. By acting as an origination platform, fintechs help financial institutions mobilize deposits while earning a commission based on factors like deposit size and tenure.

With this launch, Amazon Pay aims to simplify access to safe, high-yield investment options while strengthening its presence in India’s growing fintech ecosystem.