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.
You might be seeing this screen because you are new to Fi, and Fi is not able to see your source of income. Here’s what you can do next:
Connect your other bank accounts to Fi, and we should be able to consolidate your funds across banks to establish your source of funds. Don’t worry this is done through the Account Aggregator system approved by the regulatory authority.
If you are not new to Fi, we will use your Federal Bank Savings Account balance as source of funds.
Either way, we recommend that you connect your other bank accounts to Fi, if you haven’t done so already.