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.
In SDs, your interest is calculated each day on pro-rata basis and credited at the closure of SD. Example if you have ₹50,000 added into your SD for a 1 year duration at an interest rate of 5.4%, then the daily interest rate pro-rata is roughly ₹7.39. If you add additional ₹50000, the new daily interest rate pro-rata would be ₹14.78. The final interest amount will be aggregated and transferred at the closure of SD to your Savings Account.