InvestorQ : Can I open an Equity SFB FD with just a Google Pay account?
Riya Dwivedi made post

Can I open an Equity SFB FD with just a Google Pay account?

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shrinidhi Rajan answered.
2 months ago
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That is what is the latest offering from Equitas Small Finance Bank. It proposes to enable users to open fixed deposits on Google Pay, even if the customer does not have a bank account with Equitas SFB. To begin with, this functionality will be available only for Google Pay via Android. The FD process can be completed in just under 2 minutes with very minimum basic KYC in place.

Needless to say, this FD will be getting the RBI insurance cover up to Rs.5 lakh from the DICGC. Equitas SFB is currently offering 6.35% return on FDs for one year, which is among the highest on offer. In the event of redemption or early withdrawal, the proceeds of the deposit will be credited directly to the investor’s Google Pay account, even if it is linked to another bank
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