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.
Mutual Fund investments across any platform or app (online or offline) can be fetched to offer you a loan. Having Mutual Fund investments on the Fi app is not mandatory. When you apply for a loan, your Mutual Funds portfolio linked to your mobile number or email ID and PAN is fetched.
You can use all Mutual Fund schemes from Indian AMCs except for Demat Mutual Fund units, funds with lock-in restrictions like ELSS with less than three years, and funds not on our lender partner's pre-approved list.