New! Facility to invest in Fixed Deposit on Google Pay! The procedure!
Posted on: 28/Aug/2021 11:32:47 AM
The leading internet organisation Google is all set to introduce the facility for its Indian Customers to invest in Fixed Deposit (FD) through the GooglePay App
Google has joined with FinTech Sethu to provide this facility for investing in Fixed Deposits.
In the introductory 1st Phase, Google offers FD investment plans of the Equitas Small Finance Bank. In this Fixed Deposit Scheme, the interest rate for 1-year FD investment is a maximum of 6.35%.
Interested GPay users have to obtain OTP (One-Time-Password) and with Aadhar details have to fill up the KYC (Know-Your-Customer) details.
The special feature of this new facility is that even though GPay Users who do not have an account in Equitas Small Finance Bank can still invest in FD in this bank through GPay App!
Once joining the Fixed Deposit scheme, the relevant amount will be taken from the bank account. When the FD matures, it will be transferred to the relevant bank account!
If this GPay facility with Equitas Small Finance Bank proves to be hugely successful, other banks with their Fixed Deposit Services may prefer to join with Google Pay!
Following this, it is widely expected that all the other UPI Apps will also offer this Fixed Deposit facility to their customers as well!
This Fixed Deposit has the options for various term durations � 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days, and 365 days at interest rates from 3.5% to 6.35%.
