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.
In a blog post, the company said the move aims to simplify a fragmented FD ecosystem.
“Rates are scattered, processes differ, and tracking maturity dates and interest becomes harder than it should be,” Zerodha said, outlining the need for a unified interface.
Wealth hub
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.
For first-time investments with a bank, users will be required to complete a one-time KYC process, including PAN and Aadhaar verification, along with nominee details.
Notably, the platform enables users to open fixed deposits without the need to maintain a savings account with the issuing bank, making the process fully digital and more accessible.
Coin has built its user base around commission-free direct mutual fund investments and systematic investment plans (SIPs), and the addition of FDs signals Zerodha’s intent to position it as a comprehensive wealth management platform.
The move comes amid rising interest in digital FD offerings, with several fintech start-ups and investors betting on the space. Wealthtech start-up Stable Money recently raised around $25 million in funding led by Peak XV Partners. Platforms such as Smallcase and WintWealth — backed by Zerodha’s Rainmatter — as well as Flipkart-backed super.money, have also begun offering fixed deposits, though not as their core product.
Zerodha’s entry into the segment is likely to intensify competition as platforms race to capture a larger share of retail savings by combining convenience, transparency, and a wider range of investment options.