superFD: A new super FD has been launched, in which you will get a super return of 9.5 percent. Read about it in detail.
Flipkart-owned fintech company super.money has launched a new product called ‘superFD’. This is a new fixed deposit (FD) product, which offers Unified Payments Interface (UPI) payments and offers an interest rate of up to 9.5 percent. With superFD, super.money has launched its first investment product for all its 7 million users, the company said in a statement.
Features of superFD
- With superFD, users can book FDs with as little as Rs 1000 and earn up to 9.5% interest.
- On super.money, users can currently choose from five banks approved by the RBI.
- All FDs on super.money will be provided insurance up to Rs 5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
How to book a superFD account?
According to the company, users can book a superFD account in four steps, which are as follows –
Step 1: Download the super.money App.
Step 2: Choose your preferred bank FD offering
Step 3: Complete eKYC
Step 4: Set up deposits
vKYC optional in some cases
superFD account provides a paperless and digital way to invest in FD, making investing hassle-free and fast for users.
Fixed Deposit (FD) is a type of investment in which you can deposit money in the bank for a fixed period. In fixed deposit you get interest at a fixed rate (Fixed Deposit Interest Rate). FD still remains the safest option for many investors. This is because there is no risk of money in it and returns are guaranteed. Let us tell you that the rate of interest on the amount deposited in FD is fixed at the time of opening the account.
