Frequently Asked Questions

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What is the transaction limit for Min KYC account holders?

Min accounts have certain restrictions as per bank policies:

If your account was created before 1st of August 2023

  • A min KYC user's account balance cannot exceed ₹1 Lakh.

  • Total amount added to this account (in one financial year) cannot exceed ₹2 Lakh.

  • Min KYC accounts only have a validity of 350 days, after which it expires & the account is closed unless such account is upgraded to a Full KYC Account. 

If your account was created on or after 1st of August 2023

  • A min KYC user's account balance cannot exceed ₹50,000 till validity of the min KYC account

  • Total amount added to this account cannot exceed ₹50,000 till validity of the min KYC account.

  • Min KYC accounts only have a validity of 350 days, after which it expires & the account is closed unless such account is upgraded to a Full KYC Account. 

If you have a min KYC account, these limits will be removed once you upgrade to a full KYC account. You can do this by starting a Video KYC call from the Home screen of the Fi app. 

Here's how you can check if you're a Min KYC user: 

  • Tap on your Profile Picture on the Home screen. 
  • You'll arrive at the 'My Profile' section. 
  • If you see a 'Minimum KYC' tag next to your name, then you'll need to complete a video KYC call 

Fi partners with the best to secure your money

Federal Bank
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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.
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