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.
Your stocks aren’t considered fully purchased until the remittance against them is conducted. This means you need to pass a check called LRS which is mandated by the government.
Hence, your stocks will be placed under a sell-lock until your foreign remittance checks are completed (which includes LRS). This generally takes up to 1 working day from the time of order placement to get completed. Once this is done, you should be able to sell your stocks.