Amazon Pay has expanded its financial services offering in India with the launch of fixed deposits, allowing customers to invest directly through the platform with minimum amounts starting at ₹1,000.
The new product has been rolled out through partnerships with two non-banking financial companies, Shriram Finance and Bajaj Finance, alongside five banks: Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice and Utkarsh Small Finance Bank. Amazon Pay said the move is aimed at widening access to traditional savings instruments through a fully digital process.
Under the scheme, customers can open fixed deposits without the need to set up separate savings accounts with the partner institutions. Interest rates offered by the participating banks and NBFCs go up to 8% per annum. All partners are offering an additional 0.5% interest for senior citizens, while Shriram Finance is also providing up to 0.5% extra interest for women investors.
Vikas Bansal, Chief Executive Officer of Amazon Pay, said the launch reflects continued demand for fixed income products in the Indian market. “Fixed income instruments remain hugely popular in India given their simple construct, guaranteed returns, and low risk profile,” he said. “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.”
The introduction of fixed deposits adds to Amazon Pay’s broader shift from being primarily a payments platform to operating as a financial services provider. The company already offers UPI payments, credit options, bill payments and travel bookings, and is now moving further into investment-related products.
Deposits made with partner banks are insured up to ₹5 lakh per depositor per bank under the Deposit Insurance and Credit Guarantee Corporation (DICGC), which operates as a subsidiary of the Reserve Bank of India. Amazon Pay said this provides customers with regulatory protection in addition to competitive interest rates.
Customers can access the fixed deposit feature directly within the Amazon Pay section of the app. The platform allows users to compare interest rates and tenures across partner institutions, select a preferred option and complete the entire investment journey digitally.
The company said the move is designed to make savings products more accessible, particularly for customers looking for straightforward, low-risk investment options as part of their personal financial planning.
