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.
A Fixed Deposit-backed Credit Card works like any other Credit Card and can be used for online & offline purchases, bill payments, and more.
The only difference is you’ll need to open an FD to get the SimpliFi Credit Card issued by our partner, Federal Bank, and you will earn up to 7.40% p.a. interest on your Fixed Deposit. The FD serves as a security deposit against your Credit Card. You get a credit limit against your FD amount. This also helps in building a credit history.