FD On UPI Product: There are many ways in which banking terms exist for people to accumulate their savings. At the same time, as the country is moving towards digitalization, all the sectors including the banking sector are also digitalizing all their operations to promote the facilities of the people. Be it sending money from one account to another account, recharging or paying FD, everything can be done easily through UPI with one click.
To provide these facilities to its customers, Flipkart-backed fintech company Super.Money has today informed about the launch of a new fixed deposit by the name of ‘SuperFD’. This is its first FD on UPI product. This means that payment in FD can be made easily through UPI.
The company’s objective behind launching it is to give a new look to the FD process by making it completely digital. The product has been designed keeping in mind the new generation Indian investors. With SuperFD, users will be able to book FD with a minimum amount of Rs 1,000 and get interest up to 9.5 percent.
You can choose from these five banks for FD
On Super.Money, users can choose from five small finance banks certified by RBI for FD. Each FD will be insured up to Rs 5,00,000 by the Deposit Insurance and Credit Guarantee Corporation (DICGC). With SuperFD, Super.Money has launched its first investment product for all its 70 lakh users. Its onboarding experience is very straightforward, helping users easily complete the eKYC process in just a few taps.
There will be a change in the methods of saving and investing
Prakash Sikariya, Founder and CEO, Super.Money, said, “Our product will change the way young Indians save and invest. It is in line with the Reserve Bank of India’s vision of making deposits attractive for the new age investors.”
Giving information about this new platform, Sikariya further said that through attractive interest rates, flexibility and easy access, SuperFD makes it easier for people to invest in low-risk, high-return products.
Its onboarding experience is very straightforward, helping users easily complete the eKYC process in just a few taps. To open a SuperFD account, users can easily open it by following these four steps given by the company:
- First of all download Super.Money app and give access to the app.
- Select the bank FD offering of your choice.
- Complete the eKYC process and set up the deposit amount.
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