Now FD will be done in minutes, Google Pay will give this facility to users soon

Now FD will be done in minutes, Google Pay will give this facility to users soon

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Google Pay FD: Google Pay is going to start a big facility for its users soon. Google Pay will allow users to make FDs on its payments app. With this new feature, users will be able to open FDs through Google Pay even if they do not have an account with the bank offering the FD. Google Pay has joined hands with fintech company ‘Setu’ for this.

Google Pay FD: According to media reports, Google Pay will initially offer FDs of Equitas Small Finance Bank up to one year to its users. After this, FDs of Ujjivan Small Finance Bank and AU Small Finance Bank can also be offered.

This initiative of Google Pay is being considered very important. Now you will not have to depend only on banks or non-banking institutions for FD. It will not be necessary to go to the banks for FD. Now this work can be done from mobile. Let us tell you that there are about 150 million monthly active users of Google Pay in India.

what is bridge

  • It is an Application Programming Interface (API) infrastructure start-up.
  • It provides API in bill payment, savings, credit and payment.
  • The beta version of the API offers FDs of various tenors including 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days and 365 days.
  • The interest rates range from 3.5 percent for the smallest FD to 6.35 percent for one year FD.

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