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.
Location permission helps Fi safeguard your financial activities.
We use it to identify fraudulent activity.
Like when you live in Gurgaon – but your account gets used in Goa.
We'd be able to figure there's something fishy going on.
Also, these permissions help make UPI transactions more secure.
It's why the National Payments Corporation of India made it a mandatory requirement.