Google Pay also known as GPay (Google Pay) is a widely used payment gateway platform in India for its UPI payments. The app not only works as a regular UPI payment app for users but also offers other banking and financial services. But now a new service has also been added to Google Pay, which can be icing on the cake. Actually we are talking about FD i.e. fixed deposit. Now Indian users can also get FD through GPay app.
Users can now open Fixed Deposit (FD) on Google Pay app
Google has partnered with Equitas Small Finance Bank to allow users to open FDs through the Google Pay app. With this partnership, users will now be able to open an FD account in no time. However, this feature is currently available only for Android users and iOS users will have to wait for some time now. If you also want to make your fixed deposit on Google Pay, then we have explained here the complete process how you can apply for it.
How to Apply Online for FD on Google Pay
It is very easy to apply online for fixed deposit through Google Pay app and for that you can also apply online by following the steps which we have given below. So let’s read the given steps carefully.
step 1 – First of all, you have to open the Google Pay app on your Android smartphone. And before that also update the app from Play Store.
Step 2 – After this, under the Business & bills section, you have to search for Equitas SFB and tap on it.
How to Pay Electricity Bill Through Google Pay
Step 3 – Now you have to enter the amount you want to FD and choose the tenure for the FD.
Step 4 – After this, fill the required personal information and KYC details as asked.
Step 5 – Now you have to make payment through Google Pay UPI. That was all it took and your FD will be created here on Google Pay.
However, let us tell you that at present the bank is giving an interest rate of up to 6.35% on one year FD. Also for fixed deposits, there is no need for users to open their account with Equitas Bank as the transaction will be done through existing UPI ID. Apart from this, users can keep an eye on their deposits using the Google Pay app, and many more features are available.
How to pay LIC premium through Google Pay
Thus, now if you also want to make your fixed deposit online, then you can easily open it on Google Pay i.e. GPay by following the steps mentioned above. You can invest your money and time in this.