Google pay fixed deposit interest rate:Customers can place digital fixed deposits through Google Pay, Equitas Small Finance Bank announced on Wednesday. Currently this service is only available to customers who use the app via Android phone.
Equitas Small Finance Bank (SFB) announced on Wednesday that customers can deposit fixed deposits digitally through Google Pay. Currently this service is only available to customers who use the app via Android phone.
Google pay fixed deposit interest rate
“Equitas SFB has launched a new initiative. Google Pay allows users to book Fixed Deposits (FDs) within 2 minutes without opening a bank account,” the bank said.
The bank also said that depositors in Equitas will also have insurance up to Rs 5 lakh, with customers paying 1% fixed deposit for 1 year. 6.35 per cent interest rate. Equitas interest rates are high compared to many banks.
For the first time in the banking industry, customers are now allowed to fully book high interest FDs through Google Pay App. There is no need to open a savings account in Equitas Bank integrated with Google Pay platform. So, Google Pay users can book FDs while staying in their homes, enjoying a comfortable, safe and hassle-free experience, ”the bank said.
The principal and interest amount will be credited directly to the Google Pay user’s bank account upon maturity. The bank said it could be any bank in India.
How do I make a Fixed Deposit in Equitas Bank through Google Pay?
First open Google Pay App and go to Business & Bills.
Click on the Equitas SFB logo (Search for Equitas Bank – if the logo is not visible)
After opening the Equitas Bank page, select the amount and the duration.
Give your personal KYC information (PAN number & Aadhaar number) to Equitas Bank.
Pay with Google Pay.
After FD booking
As the fixed deposit matures, the money goes directly into the Google Pay user’s current bank account. With Google Pay, users can track their investments, add new deposits, and withdraw funds before they expire. If the fixed deposit is to be withdrawn before the expiration date, the message will be forwarded to the bank.
Google Pay has recently teamed up with FinTech startup ‘Setu’. This allows users to open fixed deposit accounts in Google Pay.
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