Fintech platforms are stepping up their play in India’s fixed deposit (FD) market, betting on digital distribution, ease of access and transparency to attract a new generation of savers.
The shift comes as start-ups and large platforms alike look to tap into a vast pool of retail savings traditionally parked in bank deposits.
Wealthtech start-up Stable Money, which recently raised $25 million led by Peak XV Partners, is among players doubling down on the segment. Platforms such as smallcase, WintWealth and Flipkart-backed super.money have also begun offering FDs, even if not as their core proposition.
Digital platform
“Honestly by regulation there can’t be any differentiation for anybody who’s booking fixed deposit either via branch or via net banking or any digital platform,” said Saurabh Jain, Co-founder and Chief Executive of Stable Money. “But the important thing that we are trying to do is solving for access and the convenience,” he added.
Jain pointed out that digital platforms are bridging a key gap by aggregating multiple banks and non-banking financial companies in one place.
“Taking it digital and making it available in their mobile is giving access to all those 13 banks and NBFCs that we have on our platform through one app,” he said, adding that the entire lifecycle — from KYC to withdrawals — is now handled digitally.
For users, this means less friction compared to traditional processes that often require branch visits or relationship manager intervention. Industry executives say such ease of use, coupled with the ability to compare rates and manage deposits seamlessly, is driving adoption among both first-time and experienced investors.
User first
At Flipkart-backed super.money, the focus is on reimagining the product experience around user needs. “While traditional FDs have largely been a bank-led static product, our app experience puts the user first throughout the journey,” said Prakash Sikaria, CEO and Founder of super.money.
He added that the platform is seeing “strong adoption from both first-time investors seeking safety as well as more seasoned users diversifying their portfolios,” with FDs increasingly becoming an entry point into structured wealth creation.
Sikaria also highlighted the broader opportunity emerging around deposits.
“Going forward, we believe this category has the potential to evolve into a meaningful pillar of our broader wealth stack, complementing both credit and payments,” he said, adding that FD-backed credit cards are helping users without formal credit histories access credit.
Recently, Zerodha has introduced fixed deposits (FDs) on its investment platform Coin, as the brokerage looks to deepen its play in long-term savings products beyond mutual funds.
Allocate savings
Coin, which operates separately from Zerodha’s trading app, Kite, serves as the company’s hub for long-term investments, including mutual funds, insurance and the National Pension System (NPS). With the addition of FDs, users can now allocate savings across both market-linked and fixed-income instruments on a single platform.
The feature allows customers to compare FD rates across multiple banks, book deposits digitally, and track key metrics such as invested amount, accrued interest and maturity timelines in one place. The offering is expected to include deposits from small finance banks, which typically offer higher interest rates.
The growing activity signals intensifying competition in the digital FD space, as platforms race to capture a larger share of household savings. With India estimated to have millions of users holding significant portions of their wealth in fixed deposits, fintech firms are positioning themselves as intermediaries that simplify access while retaining the safety of traditional instruments.
As more players enter the market, the battle is likely to hinge less on rates — which remain regulated — and more on distribution, trust and user experience.
Published on April 10, 2026