Highest Interest Rates: FD is usually chosen among the investment options that give better returns with less lock-in period. However, new fintech companies are now going ahead in this matter. These companies are now offering 12-13 per cent returns.
Highest Interest Rate: After increasing the repo rate by the banks, the banks also increased the interest rates of FDs. Banks are now offering maximum interest of up to 7-8 per cent on FDs. Apart from this, small finance banks are giving one percent interest above this. Still, this is not a huge interest. In such a situation, new fintech companies are now seen winning. These companies are offering tremendous interest with low lock-in period. Till now, only BharatPe was paying interest up to 12%, but now Mobikwik has also entered it.
It has recently launched the Xtra Plus feature for its users. Through this feature, users can earn up to 12.99 percent interest. Earlier, the company had launched the Xtra feature, in which up to 12 per cent interest is available. The company has partnered with RBI regulated P2P investing platform Lendbox (Transactree Technologies Pvt Ltd) for this feature. If you invest in Mobikwik Xtra, then the interest you get at the rate of 12 percent is added to your account every day. You can also withdraw that money at any time. On the other hand, you can earn 12.99 percent interest by investing in Xtra Plus, but the lock-in period is 3 months.
Who can invest in Mobikwik Xtra or Xtra Plus?
Any Indian above 18 years of age with PAN card and Indian bank account can invest in it. NRIs can invest in it through their NRO bank account.
Are there any charges for investing in Mobikwik Xtra or Xtra Plus?
No, there are no charges for deposit or withdrawal in Mobikwik Xtra. There is no investment fee for investing in Mobikwik Xtra Plus. In Mobikwik Xtra Plus, there is no interest for withdrawing money before 30 days and up to 8% interest is earned for withdrawing money before maturity.
How much investment is required
Investing in Mobikwik Xtra or Xtra Plus can start from as low as Rs 1000. You can invest up to Rs 10 lakh in this. If you want to increase your investment more than 10 lakh rupees then you have to contact Mobikwik team. According to RBI guidelines, a net worth certificate will be required for investing more than Rs 10 lakh.
How safe is investing in P2P lending platforms?
Many P2P investing platforms in the country are regulated by the RBI. However, there is a risk in this investment as well. In such a situation, one should invest wisely.
