FD On UPI Product: There are many types of banking terms available for people to collect their savings. As the country is moving towards digitalization, all sectors including the banking sector are digitizing all their operations to promote the convenience of the people.
Whether it is sending money from one account to another, recharging or paying FD, all this is done easily through UPI in just one click.
To provide these facilities to its customers, Flipkart-backed fintech company Super.Money today announced the launch of a new fixed deposit called ‘superFD’. This is its first FD on UPI product. This means that payments can be made easily through UPI in FD.
The objective of the company 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 FD with a minimum 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 RBI certified small finance banks for FDs. Each FD will be insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to Rs 5,00,000. With SuperFD, Super.Money has launched its first investment product for all its 70 lakh users. Its onboarding experience is very straightforward, allowing users to easily complete the eKYC process in just a few taps.
There will be a change in the methods of saving and investing
Prakash Sikaria, Founder and CEO, Super.Money said, “Our product will transform the way young Indians save and invest. It is in line with the Reserve Bank of India’s vision to make deposits attractive for the new-age investors.”
Giving information about this new platform, Sikarria further said that through attractive interest rates, flexibility and easy access, SuperFD makes it easy for people to invest in a low-risk, high-return product.
Its onboarding experience is very straightforward, with the help of which users can 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 mentioned by the company:
- First 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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