Amazon Pay has rolled out a fixed deposit (FD) offering across India, marking a strategic expansion of its fintech portfolio beyond payments and commerce-linked services. The new feature allows users to open fixed deposits starting from Rs 1,000 directly via the Amazon Pay interface, without the need to open a separate savings account with partner institutions.
To power the offering, Amazon Pay has partnered with two non-banking financial companies (NBFCs) Shriram Finance and Bajaj Finance along with five banks, including Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice, and Utkarsh Small Finance Bank. These institutions are offering interest rates of up to 8% per annum, depending on tenure and issuer.
Senior citizens are eligible for an additional 0.5% interest across all partner institutions, while Shriram Finance is also offering up to 0.5% extra interest for women investors. Amazon Pay said customers can compare FD options, select tenures, and complete the entire investment journey digitally within the app.
“Fixed income instruments remain hugely popular in India due to their simple structure, guaranteed returns and low risk profile,” said Vikas Bansal, CEO of Amazon Pay India. He added that the launch is aimed at helping customers build better savings habits and meet their 2026 financial goals.
Fixed deposits booked with partner banks are insured up to Rs 5 lakh per depositor per bank under the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India. FDs with NBFC partners are not covered under DICGC but follow regulated disclosure norms.
The launch strengthens Amazon Pay’s push to position itself as a full-stack financial services platform. The company has steadily expanded into UPI payments, bill payments, credit products, insurance, travel bookings, mutual funds and digital gold, all embedded within the Amazon app.
Amazon Pay currently ranks among the top 10 UPI apps in India. In November, it processed 8.9 crore transactions worth Rs 10,147 crore, as per NPCI data. In FY25, Amazon Pay narrowed its losses by 5% to Rs 865.7 crore, even as revenue declined 7%, reflecting a broader shift towards long-term fintech monetisation.
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