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.
Per the Regulatory Authority guidelines, a loan of up to 50% of the Net Asset Value (NAV) for Equity Mutual Funds can be availed. For fixed-income Mutual Funds, you can get a loan of around 70% - 90% of your NAV.
However, the loan amount you get may differ from one Mutual Fund scheme to another — it can be between 45% - 90% of your Net Asset Value.
Per our lending partner, there is a pre-approved list of Mutual Funds eligible for getting a loan. Mutual Funds from your portfolio will be fetched, reviewed, and categorised as Eligible and Ineligible.