There is no need to visit banks to make savings. Now you can take advantage of FD schemes sitting at home from Google’s money transfer app G-Pay.
New Delhi: During the time of Corona, when there was a lockdown in the whole country, many people had to lose their jobs, in such a situation only their saved money came to work. Corona explained to everyone how important the savings are. Those who did not even make savings, they also started saving during this time.
But even now many people feel that this is a useless hassle because for this one has to go to the bank or post office. While it is not so at all. In today’s modern times, anyone who wants can take advantage of schemes like Fixed Deposit (FD) even sitting at home. There is no need to even go to the bank for this work.
Book your FD with G-Pay
Let us tell you that Google is soon preparing to start FD schemes like banks and non-banking institutions. This move of Google is definitely going to be very convenient for the users. Google can announce this special scheme soon. Under this scheme, users will not even need to visit the bank’s website or app. Rather, customers can take advantage of FD schemes sitting at home from their money transfer app G-Pay. Let us know that Google has partnered with fintech company Setu ( SETU ) for this.
FD scheme will be of banks only
It is worth noting that under this initiative, Google will not bring its own FD scheme, but Google will only promote the FD schemes of banks. Let us tell you that at the beginning of this service, first of all, FD schemes of Equitas Small Finance Bank will be sold by Google.
How much interest will you get?
It is believed that customers taking FD through G-Pay will get maximum interest of 6.35% in taking FD from here. It will be given for 1 year. Through Google Pay, users can avail Equitas Small Finance Bank FD schemes for 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days and 365 days.
KYC will be necessary
It is noteworthy that without KYC you will not be able to take FD scheme. For this, the customer will have to provide the Aadhaar number and KYC will have to be done. An OTP will come on the same registered mobile number which you have updated in Aadhaar. SETU has prepared a beta version for the API. Google and SETU have been working for this for a long time and can launch it soon. Whenever the FD matures, its money will be transferred to the customer’s G-Pay account.
Expected to get FD scheme of these banks too
Apart from Equitas Small Finance Bank, Google is also in talks with Ujjivan Small Finance Bank and AU Small Finance Bank. It is expected that soon their FD schemes will also be made available here.
