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Current Affairs - 2021
With which company has Google partnered to open fixed deposits (FD) using Google Pay app?
A)
Shiksha Finance
B)
Setu
C)
Lendingkart
D)
MoneyTap

Correct Answer :   Setu


* Google has partnered with a fintech company, Setu.

* The partnership will allow its users to open fixed deposits (FD) using Google Pay app. Setu is a fintech company that is an expert in offering APIs (application programming interfaces) and it has created the beta version of API which can offer FDs.
 
* The FDs through this beta version are of tenors like 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days, and 365 days.

* The interest rates linked to these FDs will vary from 3.5% for the shortest FD to 6.35% for the FD with one year tenor.

* To avail of this FD, users will have to complete their KYC procedures using Aadhar through OTP submission.

* The users can open an FD account even without having an account with the bank which offers FD.

* At the initial stage, FDs of Equitas Small Finance Bank will be offered for a period of 1 year carrying a maximum interest rate of 6.35%.

Published On : August 27, 2021
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