Now that FD is done in minutes, Google Pay will soon offer this facility to users

Google Pay FD: Google Pay will soon launch a large facility for its users. Google Pay allows users to FD in their payment app. With this new feature, users will be able to open FD through Google Pay even if they do not have an account with the FD issuing bank. Google Pay FinTech has partnered with Setu for this.

Google Pay FD: According to media reports, Google Pay will initially offer its users FDs of Equitas Small Finance Bank for a year. Subsequently, Ujjivan Small Finance Bank and AU Small Finance Bank may issue FDs.

This initiative by Google Pay is considered very important. Now you don’t have to rely solely on banks or non-banking institutions for FD. It is not 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 a bridge

  • This is the beginning of the application programming interface (API) infrastructure.
  • It provides an API in bill payment, savings, credit and payment.
  • The beta version of the API offers different periods of FDs, including 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days and 365 days.
  • Interest rates range from 3.5 percent for small FDs to 6.35 percent for a one-year FD.

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