The biggest challenge in terms of savings is the process of leaving it be; we’re quick to set aside cash, but then we’ll find some excuse to use it up before we know it.
Well, since that’s case, what if we do our savings differently? What if we convert our savings into investments by opening up Fixed Deposits and leave them untouched? Sounds like a plan, yes? Here’s how FriMi has devised a mechanism for you to do so digitally which makes it all the more simple and cool!
First of all, FriMi ensures that your primary concern of security is completely taken care of since FriMi, is powered by Nations Trust Bank.
That being said, you’ll only need Rs. 50,000 to open up a FD and you can have multiple FD’s if you so wish! The duration for your deposit is completely up to you and you have the choice of choosing between 1, 3, 6, 12, 24, 36, 48 or 60 months for which the interest will be credited to your FriMi account monthly, annually or at maturity. Apart from that, FriMi Fixed Deposits arrive with all the standard deposit interest rates, charges and tax rates.
You can also tell us how you wish to tackle the principal and interest at maturity because they can be withdrawn and/or reinvested depending on how you wish to move forward. We’ve made FD’s so simple and accessible to help you save and invest wisely; so do use it & tell us your experience!