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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7893369
can anyone confirm what are the redemption charges if we break it before the time period.
Google Pay FD (Fixed Deposit) Launched in India : 6.35% Interest, All Banks, and more
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Google Pay FD (Fixed Deposit) Launched in India : 6.35% Interest, All Banks, and more
Google Pay in partnership with Equitas Small Finance Bank has started the Fixed Deposit service on its mobile app with upto 7.25% interest rates.
by FighterMan
Updated: 13 Apr, 2022, 04:50 IST
62
43350
Google Pay in partnership with Equitas Small Finance Bank has started the Fixed Deposit service on its mobile app. This service is powered by the Setu API. Google Pay users can now book FDs on-the-go instantly on the app. Currently, this bank promises upto 6.35% interest rates (extra 0.50% for senior citizens). Moreover, any bank customer can open Google Pay FD.
Currently, the Google Pay Fixed Deposit service by Equitas Small Finance Bank is in its beta stage so may roll out more features soon. Moreover, Ujjivan Small Finance Bank and AU Small Finance bank are expected to join Equitas in this FD program.
Equitas Small Finance Bank is RBI regulated. Moreover, it promises upto 7.25% interest rates (above 1 lakh) for senior citizens. Besides, you can close your FD anytime instantly. Therefore, it makes a good option for Google Pay FD.
How To Open Google Pay FD of Equitas Small Finance Bank?
You can open your Equitas Small Finance Bank Fixed Deposits on Google Pay instantly. Follow the below mentioned steps to get started.
- Open Google Pay app.
- Scroll down a bit to “Businesses & Bills”, and click on “Explore” (to the right).
- Search for “Equitas” and select “Equitas Small Finance Bank”.
- Now, click on “Open Equitas FD”.
- Click on “Invest Now”.
- Verify your Google account (auto-verification)
- Verify mobile number (should be same as in Aadhar Card)
- Verify PAN Card.
- Verify Aadhar Card.
- That’s it! Start making your desired FDs.
Related Read : Paytm partners with HDFC Bank to provide financial solutions to consumers and merchants in India
Google Pay FD Interest Rates of Equitas Small Finance Bank
You can open a Equitas Small Finance Bank Google Pay FD for upto 1 year tenure. The Google Pay FD Interest Rates for this bank varies from 3.5-6.35%. Besides, senior citizens can avail an extra interest of 0.50% on their FDs here.
Tenure (in days) |
Interest Rates (extra 0.50% for senior citizens) |
7-29 |
3.5% |
30-45 |
3.5% |
46-90 |
4% |
91-180 |
4.75% |
181-364 |
5.25% |
365 |
6.35% |
Google Pay Fixed Deposits FAQs
Here are some of the common Google Pay Fixed Deposits FAQs.
Who all can open FDs on Google Pay?
All Google Pay users can open FDs on Google Pay app, but current Equitas Small Finance Bank users cannot open FDs on Google Pay (as of 30th Aug 2021).
How much amount can I deposit in Google Pay Fixed Deposit Account?
Currently, Equitas Small Finance Bank allows a min of Rs 5000 and max Rs 90,000 to deposit in a single FD.
Where will my FD maturity amount get deposited?
Your FD’s maturity (principal & interest) amount will be deposited in your bank account (primary) which is linked to Google Pay.
How many GPay Fixed Deposit can I make?
Currently (30th Aug 2021), you can make only 1 Google Pay Equitas Small Finance Bank FD as it is in beta version.
How to close GPay Fixed Deposit?
You can close your Google Pay FD anytime by clicking on “Redeem your FD” from the “My FDs” section on the Google Pay app.
How to Renew GPay FD?
Most probably your Google Pay FD will get auto-renewed, but still check with the bank or Google Pay.
What are the charges to open a GPay FD?
There are no charges (free) to open a Google Pay FD.
What are the eligibility requirements to open a Google Pay Fixed Deposit?
You need to be a Google Pay user and complete user & KYC verification to be eligible for Google Pay Fixed Deposit account.
With the FD interest rates at all-time-low in India, will people go for this GPay FD? Do let us know your opinion on this in the comments section.
A special thanks to our Dimer LUKA186 for 1st breaking this Google Pay Fixed Deposit Launched news.
Top Comments
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7893783
no charges as per the FAQs section on the app.
View 1
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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7893556
Who gives more than 7.25?
View 5
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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7893554
Thanks but didn’t get it to work. After providing all docs for kyc it never finishes process
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7893780
ohh 
you can check with Google Pay support for this issue.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7894339
I think all banks give securities in FD for 1lakh only if anything happens.
Better to keep the money in mutual funds and diversify the portfolio.
View 5
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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7895311
Equitas FD is available on Groww also. Which platform is better?
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7896245
Dont even think of P2P, not even Cred Mint. Even your capital will be at risk.
View 4
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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7896260
Also for who are thinking to invest on this apps, I would suggest you to directly invest with banks than these apps.
These guys are just facilitators and will not provide any sort of help if there are any issues.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7896703
Buy HDFC Bank share @ 1580 today and hold for a year or 2, you will get 10-25%
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7896707
Buy USDT on Zebpay and lend for 3 months you will get 12%. Banks give chiller, don’t waste you time and money in FDs
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7907911
But how safe it is? Also, is it a stable coin like bitcoin.
View 2
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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7898248
Not secured 2days days back my gpay acc temparary suspended i dont know
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7899441
Bajaj Finserv FD is also a good option with 6.75% interest.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7899469
Yes, That is much better considering Bajaj Finserv is very much profitable company but only drawback with that is, You can’t take premature exit from FD otherwse there is certain penalty on other side there is no penalty on Equitas.
View 3
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https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7899576
in my area krishna bhimma samrudhi local area bank is there which gives 7% is it safe for fd?
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7906792
Absolutely not.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7901010
Invest in any large cap fund and get better than this.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7915716
the cooperative bank near my home gives 12%!! but gpay definitely would have better practices in place. having said that idfc niyo was offering 7%. now idk how much that is. no way to find the roi
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7915737
The subject of this thread is misleading.. i dont think its google pay fd.. google will not be liable to pay you in case the company booking the fd goes down..
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7933905
They reduced the interest rates now
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_7934187
How much fd is safe in Bank 1 or 5 lac
 Launched in India : 6.35% Interest, All Banks, and more){kind=link}
 Launched in India : 6.35% Interest, All Banks, and more){kind=link}
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8016057
Are they going to deduct tds?
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8022205
Now it’s 5.85% for one year
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8041543
Post office offline FD offers 6.87% for 5 years deposit.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8074241
Can we trust Bharatpe 12%
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8081330
Good information
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8112023
what about safety?
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8333105
IndMoney in partnership with SBM Bank 7.65 percent interest .
There was a option of getting monthly interest payout where according to the calculation an FD of 5 lakhs would give me 3k per month interest.
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8375857
What about Bharat pay 12%club..
https://www.desidime.com/news/google-pay-fd-fixed-deposit-launched-in-india?page=1#post_8375862
Can’t take Risk with Google
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Just created a FD of 10 days for trial. There is no redemption charge. You will get the principal amount plus the accrued interest in the source account within 24 hours post redemption request.