PhonePe launches fixed deposit service, introduces Daily RD with partner banks and NBFCsPhonePe has launched fixed deposit distribution in partnership with banks and NBFCs while introducing the Daily RD, a digital micro-savings product with investments starting at Rs 100 per day. A key highlight of the announcement is the introduction of the Daily RD (SIP), launched in strategic partnership with Shivalik Small Finance Bank. The launch of our fixed deposit distribution, along with the Daily RD product, marks a significant milestone in that direction. PhonePe users can access and book fixed deposits on the PhonePe app via opening the PhonePe app and tapping Fixed Deposits or Daily RD under the “Mutual Funds & Deposit” section on the home screen. For Daily RD, authorise the automated UPI Autopay mandate.