If you are looking for safe investment and fixed returns, then this new Fixed Deposit (FD) service of Amazon Pay can be a great opportunity for you. Amazon Pay has launched a fully digital FD facility on its platform, where you can start investing with just ₹1,000 and earn up to 8% annual interest. Under this service, Amazon Pay has partnered with NBFCs like Shriram Finance, Bajaj Finance and small finance banks like Shivalik, Suryoday, Utkarsh and South Indian Bank. The best thing is that to make FD you do not need to open a new savings account. The entire process is easy and paperless with Amazon Pay app. Interest rates vary according to tenure. Senior citizens get 0.5% extra interest and women are also being given additional benefits in some options. Talking about security, under DICGC insurance, cover of up to ₹ 5 lakh is available on FDs made in banks. This service is especially for those investors who want low risk, stable returns and hassle-free investment and want to meet their financial goals by 2026.
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