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.
SimpliFi Fi-Federal Credit Card is a secured Credit Card and you don’t need a credit score to get this. If someone doesn’t have a credit score or a healthy credit history, they can open an FD and get the SimpliFi Fi-Federal Credit Card in minutes.
In simple words, the FD works as a trust factor for our partner, Federal Bank. Against which you’ll be given a credit card.