Amazon Pay has launched fixed deposits (FDs), expanding its financial services ecosystem in India. Through partnerships with two prominent NBFCs—Shriram Finance and Bajaj Finance and five banks—Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice, and Utkarsh Small Finance Bank.
Customers can now open fixed deposits starting from ₹1,000 on Amazon Pay, without opening separate savings accounts with partner institutions. The partner institutions offer interest rates up to 8% per annum, with all partners providing an additional 0.5% interest for senior citizens. Shriram Finance offers up to 0.5% additional interest for women investors.
"Fixed income instruments remain hugely popular in India given their simple construct, guaranteed returns, and low risk profile," says Vikas Bansal, CEO, Amazon Pay. "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."
The launch builds on Amazon Pay's evolution from a payment platform to a financial service provider, offering UPI payments, credit solutions, bill payments, travel bookings, and now investment products.
Fixed deposits with partner banks are insured up to ₹5 lakh per depositor per bank under the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India, providing customers regulatory protection alongside attractive returns.
Customers can access the fixed deposit feature directly through Amazon Pay to compare offerings from partner institutions, select their preferred bank or NBFC and tenure, and complete the process digitally.
