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.
Your money is safe. Here are some timeline-related details you need to know:
*The Fund House processes your withdrawal request. They will do this on the very next day.
*Actual settlement of the money into your Savings account depends on the type of Mutual Fund & the time at which you made this request.
*Once you've made a successful amount/units withdrawal, your money arrives within:
T+2 business days for Liquid Funds
T+3 business days for Debt Funds
T+4 business days for Equity Funds & Hybrid Funds
T+7 business days for International & Gold Funds
(Here, T would mean the day you placed the sale or purchase request)