# PhonePe launches fixed deposit, daily RD on app

2026-08-06T14:14:53+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 2 independent outlets

PhonePe has launched a fixed deposit distribution platform on its app, letting users compare and book FDs from multiple banks and NBFCs. It also introduced a Daily Recurring Deposit (RD) with Shivalik Small Finance Bank, starting at Rs 100 per day via UPI AutoPay. Deposits are insured up to Rs 5 lakh under the DICGC scheme. Users can choose tenures from 7 days to 10 years, withdraw funds after 7 days, and manage all deposits from a single dashboard. The feature aims to bring digital convenience to traditional savings, especially for first-time investors.

## Coverage

- economictimes.indiatimes.com <https://economictimes.indiatimes.com/wealth/invest/phonepes-rs-100-daily-rd-how-it-works-app-also-adds-fd-investment-option/articleshow/133000179.cms>
- timesnownews.com <https://www.timesnownews.com/business-economy/personal-finance/phonepe-launches-fixed-deposit-platform-with-leading-banks-and-nbfcs-article-155322405>
- livemint.com <https://www.livemint.com/money/personal-finance/phonepe-fixed-deposit-distribution-how-book-fd-banks-nbfcs-app-step-guide-daily-recurring-deposit-shivalik-small-finance-11786117460408.html>

Tags: digital finance, fixed deposits, PhonePe, recurring deposits, UPI AutoPay
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