As per the regulatory guidelines, a Min KYC account is opened after electronically verifying a customer's credentials (e-KYC). Usually, such e-KYC processes revolve around a One-Time-Password (OTP).

Min accounts have certain restrictions as per bank policies:

If your account was created before 1st of September 2023

A min KYC user's account balance cannot exceed ₹1 Lakh.
Total amount added to this account 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 September 2023

A min KYC user's account balance cannot exceed ₹1 Lakh till validity of the min KYC account
Total amount added to this account in a financial year 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.

So, if you are a min KYC user, please complete your video-KYC verification before the 350 day mark. It's easy to complete the verification & go from a Min account to a Full account!
Just complete a quick 3-minute video KYC verification call.

Fi partners with the best to secure your money

ISO 27001:2013

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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