Equitas SFB launches digital FDs on Google Pay in tie-up with Setu

According to a slope release, customers tin done the Google Pay app, publication precocious involvement complaint FDs afloat digitally.

Equitas Small Finance Bank (SFB) has launched an inaugural enabling customers to publication fixed deposits (FDs) connected Google Pay successful nether 2 minutes without having to unfastened a slope account. The offering was made imaginable by connecting exertion programming interfaces (APIs) built by fintech infrastructure supplier Setu. To commencement with, this functionality volition beryllium disposable for Google Pay users who entree the app from Android.

According to a slope release, customers tin done the Google Pay app, publication precocious involvement complaint FDs afloat digitally — without having to unfastened a savings relationship with Equitas Bank connected its ain spot integrated with the Google Pay platform.

“Google Pay users tin publication FDs from the comfortableness of their homes ensuring an easy, harmless and hassle-free experience. On maturity, main and involvement of the FD spell straight to the Google Pay user’s existing slope account, which could beryllium successful immoderate slope successful India,” it said.

As an RBI scheduled commercialized bank, deposits successful Equitas are covered by a deposit warrant of up to Rs 5 lakh per depositor. Customers tin bask returns of up to 6.35% for an FD of 1 year.