look news india
FD Higher Rates: If you want more interest on fixed deposit, then a digital platform is offering you 9.5 percent interest on FD. Financial digital platform MobiKwik has announced the launch of instant fixed deposit (FD) products on its mobile app in partnership with financial services companies. MobiKwik said in a statement that the objective of this financial product is to simplify the saving process for its users. The company has offered fixed deposit users to start investing from Rs 1,000 and get returns of up to 9.5 per cent per annum without opening a new bank account. Users can choose the deposit period from seven days to 60 months.
Partnership with these NBFCs
MobiKwik said in a statement that this financial product aims to ease the saving process for its users. According to the MobiKwik website, it has partnered with Mahindra Finance, Shriram Finance and Bajaj Finserv to offer its FD. Additionally, MobiKwik has also partnered with Suryoday Small Finance Bank, Bajaj Finance and other NBFCs.
Benefits of online FD
No new bank account required: You don't need to go through the hassle of opening a new bank account to start investing.
High interest rates: Interest rates on FD are up to 9.5%, which is much higher than most banks.
Option to choose duration: The option to choose the tenure of FD as per your financial needs is also available.
Fixed deposit is an investment in which a person invests a lump sum amount in a bank for a fixed period. The amount deposited in FD gets interest at a fixed rate which is decided at the time of opening the account.