HIGHLIGHTS
- GPay users can avail the benefits of FD rates offered by Equitas SFB without opening a bank account.
- The customers can earn returns of up to 6.35 per cent for an FD of one year.
- If you prematurely withdraw the deposit, then the proceeds will reach your bank account the same day.
Google has been improving its digital payments app Google Pay with various useful features. Now, the Mountain View giant has partnered with an Indian small finance bank to offer a Fixed Deposit (FD) facility for Google Pay users. So, you will now be able to book an FD right from the Google Pay app, without even needing to open a separate bank account.
Step:1 |Open the Google Pay app on your Android smartphone.
Step:2 | Under the Business & bills section, find the Equitas SFB logo and tap on it.
Step:3 | Type in the amount and select the tenure for the FD.
Step:4 | Enter the required personal and KYC details.
Step:5 | Complete the payment via Google Pay UPI.
“Equitas has been one of the early adopters of digital banking and Neo banking in particular. This program provides a true digital FD booking experience; we have made efforts to ensure that the experience is as simple and seamless as possible. We hope to increase financial inclusion by encouraging a savings culture, at the same time making the FD booking process simple and easy,” said Murali Vaidyanathan, the Senior President and Country Head at Equitas SFB.