Amazon Pay Expands Fixed Deposit Offerings in Partnership with Banks and NBFCs

Amazon Pay, the financial services arm of the e-commerce major, is broadening its fixed income portfolio by introducing fixed deposit (FD) products on its fintech platform, as per news reports. 

The move strengthens Amazon Pay’s push into savings-led financial products amid rising consumer preference for low-risk investment options. 

Product Rollout and Partner Network 

The company has partnered with 2 non-banking financial companies: Shriram Finance and Bajaj Finance along with 5 banking institutions to offer fixed deposits through its application. 

Bank partners include Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice and Utkarsh Small Finance Bank.  

Users can invest in FDs starting from ₹1,000 and gain access to multiple institutions without the need to open individual savings accounts with each partner. 

Returns, Safety and Investor Incentives 

According to Amazon Pay, partner institutions are offering interest rates of up to 8% per annum. Senior citizens receive an additional interest benefit of up to 0.5% across partner banks, while Shriram Finance provides an extra incentive of up to 0.5% for women investors. 

Deposits placed with partner banks are insured up to ₹5 lakh per depositor per bank under Deposit Insurance and Credit Guarantee Corporation (DICGC) norms, providing an added layer of security. 

Read More: Amazon Pay Enables Biometric Authentication for UPI Payments in India! 

Conclusion 

By integrating fixed deposits into its fintech ecosystem, Amazon Pay is reinforcing its focus on everyday financial products that prioritise safety and accessibility. The initiative reflects a broader trend of fintech platforms moving beyond payments and credit to become comprehensive gateways for retail savings and investments. 

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