Mounted Make investments, a fintech platform for mounted revenue property, has launched a hard and fast deposit (FD) market that’s obtainable over WhatsApp for buyers in search of safer and higher returns.
Mounted Make investments has developed BetterFD, a WhatsApp market the place buyers can discover choices for FDs with highest rates of interest and make investments with out having to open a financial savings account.
Additional, buyers can immediately start new investments on-line by way of {the marketplace} on the click on of a button.
As an example, an investor within the age group of 18-40 who has an account in HDFC Financial institution could possibly be in search of a short-term FD for 2 years.
The investor can open the interactive BetterFD interface on WhatsApp, enter the required particulars and flick thru all of the FDs that present a better charge of curiosity than their current financial institution.
By clicking on the ‘Make investments Now’ choice, the investor will likely be taken to the official FD reserving portal of the chosen financial institution or non-banking finance firm.
This assumes significance as after the latest adjustments within the tax therapy of debt mutual funds, retail buyers are in search of higher returns on protected investments like mounted deposits.
Mounted Make investments was launched early this yr by seasoned banker and fintech evangelist Akshar Shah.
“At Mounted, we’re on a mission to democratise mounted deposit investments in India. Our newest answer, BetterFD, helps you get higher FD choices and better returns than your current financial institution. These FDs are tailor-made for you so you may make a better alternative,” stated Shah.
BetterFD is India’s first FD bazaar that operates on WhatsApp whereby buyers can browse for FDs on the ease of their smartphones and start a brand new funding with none paperwork.
Extra importantly, BetterFD supplies FD choices with solely RBI-regulated banks and corporates. On choose FDs, buyers can even get a cashback over and above the FD charges.
Apparently, there isn’t any have to open a financial savings account with the financial institution/company for beginning a brand new FD. Upon maturity of the FD, funds will movement again to the supply account.
At the moment, {the marketplace} supplies choices with three personal banks, three corporates and two small finance banks.
Shah launched Mounted Make investments as a web-based platform providing entry to protected mounted revenue investments. The platform goals to be a house for retail buyers in search of low-risk and protected funding choices.
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