Mounted Make investments, an upcoming fintech platform for fastened earnings property, has launched a one-of-its-kind fastened deposit (FD) market accessible over WhatsApp for buyers in search of safer and higher returns.
After debt mutual fund tax modifications, retail buyers are in search of higher returns on secure investments. Mounted deposits are a secure and dependable wager for retail buyers.
Launched in 2023 by seasoned banker and fintech evangelist Akshar Shah, invest-tech platform Mounted Make investments has developed BetterFDTM, a WhatsApp market the place buyers can discover choices for FDs with highest rates of interest, with out having to open a financial savings account. The speed of curiosity will depend on the investor’s present checking account, tenor and age group. Buyers can instantly start new investments on-line via {the marketplace} on the click on of a button.
As an illustration, an investor throughout the age group of 18-40 has an account in HDFC Financial institution and is seeking to make a short-term FD for 2 years. The investor can open the interactive BetterFDTM interface on WhatsApp, enter the above particulars and flick through all of the FDs that present a better price of curiosity than their current financial institution. By clicking on the ‘Make investments Now’ choice, the investor is taken to the official FD reserving portal of the chosen financial institution or non-banking finance firm.
“At Mounted, we’re on a mission to democratise fastened deposit investments in India. Our newest answer, BetterFDTM, 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 Akshar Shah, founder, Mounted Make investments.
BetterFDTM is India’s first FD bazaar that operates on WhatsApp. Buyers can browse for FDs on the ease of their smartphones and start a brand new funding with none paperwork.
BetterFDTM is dependable as a result of it solely offers FD choices with RBI regulated banks and corporates. On choose FDs,buyers will even get a cashback over and above the FD charges.
There isn’t a must open a financial savings account with the financial institution/company for beginning a brand new FD. Upon maturity of the FD, funds circulate again to the supply account. The chat choice is accessible in Hindi and English. The thought is to develop into extra regional languages within the coming months to allow buyers throughout the nation to take advantage of excessive FD charges right this moment.
At the moment, {the marketplace} offers choices in three personal banks, three corporates and two small finance banks.
BetterFDTM, which is a curated market, is without doubt one of the first options to be launched by Mounted Make investments since its launch in March.
Shah launched Mounted Make investments as an internet platform providing entry to secure fastened earnings investments. The platform goals to be a house for retail buyers in search of low-risk and secure funding choices.
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