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 only need to complete a video KYC call if you have a minimum KYC account.
To check if you have a minimum KYC account:
Tap on your profile picture on the home screen.
Go to 'My Profile.'
Under your name, if you see 'Minimum KYC, you have a minimum KYC account.
Tap the green banner on the home screen and follow the instructions to complete your video KYC call."