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.
To close your account during an account freeze:
Email investigations@fi.care with the subject "Account Closure" and provide your alternate account details (Account Number, IFSC Code, Bank Name).
Complete the account closure checklist, which includes cancelling mandates, transferring any remaining balance, and disabling your UPI Lite linked to Federal Bank account on third-party UPI apps (e.g. GPay, Phonepe etc.).
Settle any pending Account Maintenance dues, etc.
Please Note:The account closure process will take 7 to 21 days from the date of your request.