Equitas Small Finance Bank tie-up with Google Pay to launch digital FD
- The Equitas Small Finance Bank (ESFB) has launched a new initiative in partnership with Google Pay, under which it will enable the users of Google Pay app to open fixed deposits (FDs) on Google Pay, in under 2 minutes without having to open a bank account with ESFB.
- This is a first-of-its-type initiative by a bank. Initially, the initiative is available for Google Pay users who are accessing the app from Android.
- Users will get Interest rate of 6.35% on FD with tenure of one year.
- Upon maturity, the principal and interest of the FD will go directly to the existing bank account of the user, which could be in any bank in India.
Source: Livemint
Points to Remember:
- Which bank has launched the initiate to open FD on Google Pay app?
- Equitas Small Finance Bank (ESFB) headquarter – Chennai