Amazon Pay Launches FDs: Earn Up to 8% Interest, Invest from Rs 1,000

• Amazon Pay now offers Fixed Deposits (FDs) directly to users, starting with a minimum investment of Rs 1,000.
• Partnerships with NBFCs like Shriram Finance and Bajaj Finance enable interest rates up to 8% per annum.
• Senior citizens and women investors are eligible for an additional 0.5% interest above the prescribed 8%.
• FDs are insured up to Rs 5 lakh per depositor per bank by DICGC, a Reserve Bank of India subsidiary.
• The process is fully digital, allowing users to compare offerings and invest without a separate account.

Why It Matters: Amazon Pay expands financial services, offering FDs with competitive rates and digital convenience.