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.
*Previously, the rewards were credited as 2% cashback. Going forward, rewards will be generated as Fi-Coins.
Salary Basic users get 1% back in Fi-Coins (up to ₹100 per month).
Salary users get 2% back in Fi-Coins (up to ₹1000 per month).
For example, if you spend ₹100, you get 2% back, which means you receive Fi-Coins worth ₹2. The value remains the same as before, just in a different format.*