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About Us
Cards
Features
Pay with Fi
Automate
Rewards
Borrow
Accounts
Salary Accounts
Scan QR to get the Fi app
Frequently Asked Questions
Interest
Understanding Broken Period Interest
Broken Period Interest (BPI) is an interest amount applied from the day you open a loan account to its first interest demand date. This amount — deducted upfront during loan disbursal — changes based on the date your loan gets processed.
For the math geeks, here's an explainer:
Loan amount: ₹1,00,000
Interest rate: 14.5%
Loan availed on: 3rd Nov, 2023
First interest demand date: 5th Nov, 2023
Days applicable for Broken Period Interest: 5th Nov - 3rd Nov = 2 days
BPI: 100000 x 14.5 x (2/36500) = ₹79.45
Fi partners with the best to secure your money
ISO 27001:2013
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.
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