Amazon Pay launches fixed deposits with up to 8% interest rate: All you need to know

Amazon Pay has launched fixed deposits (FDs) through its app in partnership with NBFCs and banks, the company said on January 6.

Customers of Amazon Pay can now open FDs starting from ₹1,000. Amazon Pay has partnered with multiple non-banking finance companies (NBFCs), small finance banks (SFBs), and a bank to offer fixed deposits.

“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,” Amazon said.

Amazon Pay fixed deposit features

Here are the key features of the fixed deposit investment service offered by Amazon Pay:

• Investors can open an FD with Amazon Pay even if they don’t have an existing savings account with any of its partner NBFCs, SFBs or the bank.

• Amazon Pay’s partners: Shivalik Small Finance Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank, Shriram Finance, Bajaj Finance, South Indian Bank and Slice.

• Users can start FDs with a minimum investment amount of ₹1,000 without needing a separate savings account with any of its partners.

• Amazon Pay is offering up to 8% interest on FDs across different partners. Shriram Finance (NFBC) is offering an additional 0.5% interest rate to women investors.

“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,” said Amazon.

Is Amazon Pay FD safe?

Fixed deposits offered by Amazon Pay through its partners are insured up to ₹5 lakh per depositor, including the principal amount and interest, under the RBI’s Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.

Amazon Pay already offers financial services in India, including UPI payments, credit solutions, bill payments and ticket bookings. It is now expanding its services by introducing FDs.

“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,” said Amazon Pay CEO Vikas Bansal.

How to book Amazon Pay FDs?

Customers can book FDs directly through Amazon Pay. “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,” said Amazon.

• Download the Amazon app and log in.
• Go to Amazon Pay.
• Accept the terms and conditions.
• Choose the financial institution and preferred tenure.
• Enter investment amount.
• Check interest rates and other terms.
• Submit the required details and documents to complete the account opening process.

Current FD rates in India

Fixed Deposit rates fell across India in 2025 due to repo rate cuts. Most banks and other financial institutions reduced their deposit interest rates many times during the year in line with the repo rate cuts by the Reserve Bank of India.

Currently, top banks are offering up to 7.20% interest rate on FDs for the general public with various tenures. Small finance banks generally offer higher rates due to their unique functioning, which is why they’re offering up to 8% FD rate.

Before booking any FD, make sure you compare the available interest rates in the market and choose the most suitable tenure with the highest returns.