Amazon Pay Launches In-App Fixed Deposits Across India With Rates Up to 8%

Overview

• The rollout covers partnerships with Shriram Finance, Bajaj Finance, Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice, and Utkarsh Small Finance Bank.
• Customers can start from INR 1,000 with advertised returns up to 8% per year, with an extra 0.5% for eligible senior citizens and women.
• Opening an FD does not require a savings account at the partner institution, and selection, KYC, and completion happen digitally within the Amazon app.
• Deposits placed with partner banks carry DICGC insurance up to INR 5 lakh per depositor per bank.
• The feature remains inside Amazon’s ecommerce app as Amazon Pay broadens its financial services, following FY25 results showing a narrower loss and slightly lower operating revenue.