Good news for UPI users. If you also have an FD, then today’s article is just for you. There are many ways of banking for people to collect their savings. At the same time, as the country is moving towards digitization, all sectors, including the banking sector, are also digitizing all their work to promote people’s facilities. Whether it is to send money from the account to another account, recharge, or pay the FD, everything is easily done through UPI with one click. To extend these facilities to its customers, Flipkart-backed fintech company Super.Money has today announced the launch of a new fixed deposit called ‘SuperFD’. This is its first FD on a UPI product. This means that UPI can be easily paid in FD.
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 of Indian investors. With SuperFD, users will be able to book FDs with a minimum of Rs 1,000 and earn up to 9.5% interest.
You can choose from these five banks for FD
On Super.Money, users can choose from five RBI-certified small finance banks for FDs. Each FD will be insured up to Rs 5,00,000 by the Deposit Insurance and Credit Guarantee Corporation (DICGC). With SuperFD, SuperMoney has launched its first investment product for all its 70 lakh users. Its onboarding experience is very straightforward, with the help of which users can easily complete the eKYC process in a few taps.
There will be a change in the way of saving and investing
Prakash Sikaria, Founder & CEO, Super.Money said, “Our product will change the way young Indians save and invest. This is in line with the Reserve Bank of India’s vision of making deposits attractive for new-age investors,” it said. With attractive interest rates, flexibility and easy accessibility, SuperFDs make investing in products that offer low risk, high returns easy.
Its onboarding experience is very straightforward, with the help of which users can easily complete the eKYC process in a few taps. To open a SuperFD account, users can easily open it by following these four steps mentioned by the company:
First of all, download the SuperMoney 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.
