PhonePe launches FD marketplace and daily recurring deposit with Shivalik SFB
PhonePe has introduced a digital fixed-deposit marketplace and a Daily RD product with Shivalik Small Finance Bank, allowing users to invest ₹100–₹1,000 a day via UPI Autopay in paperless deposits.
What happened
PhonePe launched a digital fixed-deposit marketplace and a Daily RD with Shivalik Small Finance Bank, enabling paperless deposits, UPI Autopay savings and
Key facts
- ₹100-₹1,000 daily investment range for Daily Recurring Deposit
- ₹5 lakh DICGC insurance cover on eligible bank deposits
- 7 days to 10 years available fixed-deposit tenures
- Daily RD withdrawals allowed after 7 days
- 15-day grace period for missed Daily RD contributions
- More than 700 million registered users as of April 2026
- More than 50 million merchant acceptance network as of April 2026
Why this matters
PhonePe’s partnership with Shivalik SFB provides a scalable blueprint for fintech-bank distribution alliances, making deposit products, underwriting capabilities and regulated-bank partnerships strategic areas for potential deals.
What to watch
- Number of participating banks and whether major private-sector banks join the marketplace.
- Deposit rates offered versus leading bank FDs, debt mutual funds and competing fintech platforms.
- Daily RD activation, Autopay success rates, contribution persistence and early-closure behavior.
- Evidence of promotional incentives, cashback or zero-penalty liquidity features needed to drive adoption.
- RBI guidance on digital deposit marketplaces, disclosure standards, KYC, grievance redressal and partner-bank responsibility.
- Competitor responses from Google Pay, Paytm, Amazon Pay, bank apps and wealth platforms.
- Shivalik SFB deposit-growth disclosures, cost of deposits and concentration of digitally sourced balances.
- Add FDs from multiple banks with rate, tenure and liquidity comparison tools.
- Launch goal-based recurring deposits for education, emergency funds, festivals and merchant working-capital buffers.
- Bundle Daily RD with UPI payment reminders, cashback, loyalty rewards or transaction-linked round-up savings.
- Use consented payment behavior to segment users for deposits, insurance, gold, mutual funds and credit products.
- Expand distribution partnerships to additional small finance banks and regulated deposit-taking institutions.
- Target PhonePe merchants with surplus-cash sweep products and short-duration deposit options.