InCred Money Launches In-App Fixed Deposits With Up To 9.01% Returns

The Fixed Deposits (FDs) product, which offers investors a regular source of income from Banks and Non-Banking Financial Companies (NBFCs), has been introduced today by InCred Money on its InCred Money app. With this launch, investors can anticipate high-interest rates, more convenience, and a simplified investment procedure.

The platform offered by InCred Money aims to make it easier for investors to get a variety of FDs on one platform. The latest FD offering on InCred Money's platform is a result of a partnership with Scheduled Commercial Banks subject to RBI regulation, which includes Non-Banking Financial Companies (NBFCs) and Small Finance Banks (SFBs). With the help of the InCred Money app, which can be downloaded from the Android and iOS app stores, investors will find it simple to make multiple fixed deposit investments.

Additionally, bank deposits are insured for up to Rs. 5 lakh per PAN per bank by the Deposit Insurance and Credit Guarantee Corporation, a 100% subsidiary of the RBI. Best-in-class interest rates of up to 9.25% p.a. for senior citizens and up to 9.01% p.a. for regular investors are available on FDs on the InCred Money platform which are much higher compared to FDs from different banks and NBFCs on their platform.

Investors may invest in the FDs that best match their return and maturity expectations, offering InCred Money a high level of convenience. The entire procedure takes less than five minutes to complete, requires no new savings bank account to be created, and only requires a Rs. 5,000 minimum investment.

Vijay Kuppa, CEO of InCred Money, said, "With the launch of the FD offerings on our platform, we're excited to democratize financial opportunities and simplify the path to financial wellness. Our new offering enables investors to bypass traditional limitations and invest in competitive FDs from a range of institutions, all within a single, user-friendly app. This launch indicates a financial landscape evolving towards simplicity, where the promise of attractive FD rates becomes a reality accompanied by a smooth onboarding process."

After acquiring Orowealth, a major investment platform with an AuM of more than Rs 1,150 Cr and one of the pioneers of the digital wealth ecosystem, InCred Money was established in May 2023. With the acquisition of Orowealth, a top digital investing platform with a retail focus, InCred Money was established. The acquisition provides InCred Money access to a strong technological platform, a team with extensive expertise, and an AuM of more than INR 1,000 Cr. The InCred Money platform offers a full range of investment products and services across the B2C and B2B2C verticals.