Amazon Pay has introduced a new feature allowing users to open fixed deposits starting at just ₹1,000, in partnership with Karnataka Bank. The initiative aims to make secure savings accessible to a wider audience, offering competitive interest rates, easy digital onboarding, and seamless integration with the Amazon Pay platform.
In a move to democratize financial savings, Amazon Pay has rolled out fixed deposit (FD) services for its users, enabling investments starting from ₹1,000. Partnering with Karnataka Bank, the service is designed to provide a safe, convenient, and fully digital savings option for millions of customers across India.
The FD feature is integrated directly into the Amazon Pay app, allowing users to open deposits without visiting a bank branch. Customers can choose flexible tenures, enjoy competitive interest rates, and track their investments in real time. The initiative reflects Amazon Pay’s broader vision of expanding financial inclusion by offering accessible, tech-driven solutions.
Industry experts note that this move could encourage younger and first-time investors to adopt disciplined savings habits, while also strengthening Amazon Pay’s position in India’s growing fintech ecosystem.
Notable Updates and Major Takeaways
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Minimum deposit: Fixed deposits start from ₹1,000.
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Partnership: Service launched in collaboration with Karnataka Bank.
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Digital onboarding: Entire process available via Amazon Pay app.
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Flexibility: Multiple tenure options with competitive interest rates.
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Financial inclusion: Aimed at encouraging small-ticket savings among new investors.
Conclusion
Amazon Pay’s FD launch marks a significant step in bridging technology with traditional banking, offering customers a secure and accessible way to grow their savings.
Sources: Economic Times, Business Standard, Moneycontrol