Our partner bank hosts your Savings Account and follows all security standards per applicable regulations.
Your money is always safe with our banking partner - Federal Bank, is covered under the Deposit Insurance and Credit Guarantee Corporation Scheme. This insures your money up to ₹5 lakh.
Fi itself is not a bank and doesn’t hold or claim to have a banking license.
Fi is a money management platform that re-imagines the banking experience in India. The Federal Bank Account offered through our App, is a digital bank account that gives you the fastest way to open a bank account online.
You can do everything from the Fi App, including p2p payments, fund transfers, bill payments, and more, with features to automate every action. You also get a Debit Card, spends insights and tools to grow your investment and earn rewards.
You will be allowed to spend 10% over your credit limit.
For this, a service charge equal to 2.5% of the over-limit amount will be charged, with a minimum fee of ₹500. For instance, if you have spent ₹15,000 over your credit limit, the over-limit fee (at 2.5%) is ₹375. Now, since this fee is less than ₹500, you will be charged ₹500 as the minimum over-limit fee.