Yes! You can easily increase your credit limit any time by starting a digital Fixed Deposit from the Wealth tab on LazyPay app. You will get a credit limit increase by the same amount as your deposit. Your FD will be securely placed with RBI approved SBM Bank and can be closed any time. 
 
Example, if you already have a LazyCard limit of Rs. 10,000 and you book an FD of Rs. 10,000, we will increase your limit to Rs. 20,000. At the same time, your FD will earn interest.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

Yes, all your rewards and benefits on your LazyCard will be applicable on increased limit too.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

Yes, you can book as many Fixed Deposits as you want. Simply go to the Wealth tab on your LazyPay app and opt for increasing your credit limit to book a new FD. Your new FD will be booked at prevailing interest rates and your credit limit on LazyCard will also be increased equivalent to the FD amount you book.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

There are multiple benefits of getting limit increase by booking an FD -
 
1. Boosting credit limit can speed up your next limit increase from LazyPay. This deposit acts as head start to higher credit limit
 
2. This helps to increase your spending power enabling higher value purchases and more rewards earned.
 
3. You will get a higher interest earn on our FDs as compared to your savings bank account.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

Yes, absolutely! Your Fixed Deposit is placed with RBI-approved SBM Bank. You will receive an FD certificate from the bank, and your deposit will enjoy the same protection as any bank FD. 

You can book your FD by transferring money via UPI. Make sure your UPI ID is linked to a bank account that is in your name. 

Don’t worry, this could just be a temporary issue on the bank's side. You can try again after some time, or try with a different UPI ID. In case you face multiple failures, please write to us and we will be happy to help.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

We are really sorry about this. Don’t worry, your bank will automatically reverse the money back to you. This may take up to 15 days, depending on your bank. In case you don’t see your money back after 15 days, write to us. We will talk to the bank on your behalf and trace your payment.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

If you are seeing this error, this might mean the name on your KYC documents is not the same as the one in your bank account linked to your UPI ID. You can try:
 
1. Use another UPI ID where the name on your bank account matches your KYC documents 
2. Link your UPI ID with another bank account where the name matches your KYC documents 
3. Contact your bank and correct your name to match the KYC documents. This will also help when you apply for other investments in future.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

Don’t worry, you can always contact our banking partner directly by mailing their customer care mail ID - customercare@sbm.co.in or by calling their helpline number - 1800 1033 817. Be sure to tell them the FD account number sent to you or on your FD certificate sent by the bank.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

For added security, we need to ensure that your FD payment is made from your own account. Please contact your bank and correct your name to match the KYC documents. This will also help when you apply for other investments in future.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

No, there are no extra charges or fees for creating a Fixed Deposit.

You can check the current status and details of your Fixed Deposit any time by tapping the Wealth tab on the LazyPay app.

You can close the Fixed Deposit any time from the Wealth tab on the LazyPay app. All you need to do is:
 
Step 1: Go to the Wealth tab on your LazyPay app
 
Step 2: Click on the FD you want to close
 
Step 3: From top right menu, select Close Fixed Deposit
 
Step 4: Confirm the FD closure amount and other details, like changes to your LazyCard credit limit and LazyPay outstanding dues / ongoing EMI(s). After you confirm, your LazyCard limit will be instantly reduced, and we will adjust the remaining dues from your FD amount. Any outstanding amount on your LazyCard will get adjusted, and remaining will be paid to your verified bank account.
 
Step 5: Provide your bank account and IFSC code. We will verify the same by crediting ?1 in your account. 
 
After verifying everything, your FD closure request will be processed by the bank within 5 - 7 working days. Please note, your final FD refund amount is calculated by bank and sent to you and values on our app are indicative only.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

You can close your FD any time you want from your LazyPay app. 

Your limit will be reduced by your original Fixed Deposit amount (the amount you invested at the time of booking the FD)

If there are any outstanding dues on your LazyCard that exceed your credit limit, it will get adjusted with your FD amount. The remaining will be paid to your verified bank account. 
 
Since your credit limit will be reduced on closing the FD, any ongoing EMIs that exceed your new limit will need to be closed. On our app, any EMI required to be foreclosed will be mentioned when you attempt FD closure. Please raise a request with us to foreclose EMI(s) before you can initiate FD closure.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

While closing your FD on LazyPay app, you will be asked for your bank account number and IFSC code. We’ll verify this before closing your FD. Our banking partner will directly transfer the maturity amount, minus any LazyPay outstanding dues, to your bank account via NEFT.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

For added security, we need to make sure that the bank account where we transfer the FD maturity amount is your own account and does not belong to anyone else. Try using the same bank account linked to the UPI ID you used while booking the Fixed Deposit. In case that doesn’t work, please write to us and we’ll help you.

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

If you close your FD before it matures, we’ll deduct 1% from the interest rate you get depending on your tenure. 
 
For example - if you are closing your FD in 7 months instead of 12 months, the interest rate for a 7 month tenure might be 5% (for latest interest rates, see: https://www.sbmbank.co.in/pdf/Fixed-Deposits.pdf). We’ll deduct 1% from this, so your final interest rate will be 4%.
 
You’ll be able to see all this on the LazyPay app while you’re closing your FD."

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

The bank transfer usually takes upto 5 - 7 working days to be completed. It is done by our banking partner via NEFT. In case it has been longer than 7 working days and you still haven’t received anything, please contact us and we will help you trace your money. 

 In case of any further query, you can also connect us on 02269821111 (MON to SUN 10 AM to 7 PM).

Contact us

Stay in touch