The online platform enables investors to compare FDs and invest in one within 3 minutes without having to open a savings account.
Mumbai, September 26, 2023: Fintech startup Fixed has announced the official launch of Fixed Invest, a dedicated platform for hassle-free investment in fixed deposits (FDs) for Indian investors.
Fixed Invest assures users a convenient experience of opening a fixed deposit within three minutes through a seamless paperless process.
Prospective investors can log onto the Fixed Invest platform to browse through a range of FD options by banks and corporates. They can choose an FD and even compare with their existing bank deposits. Once chosen, investors can quickly complete the online KYC process on the platform and start an investment right away.
“Fixed deposits are one of the safest and most popular avenues of investment. Yet access to it is limited to one’s own bank only. We have unlocked and simplified the process so that investors can search, compare, invest and track FDs on a single platform across banks and corporates,” said Akshar Shah, founder, Fixed.
Shah launched Fixed in 2023 as a reliable online platform that provides investors with access to fixed income options. The platform aims to be a one-stop-shop for retail investors looking for low-risk investment options.
Earlier the invest-tech platform had launched BetterFDTM on WhatsApp where investors could find options for FDs with higher interest rates than their own banks and invest in them directly on the issuer’s websites.
To open an FD account through Fixed Invest, one need not create a traditional savings bank account. Not only can investors keep track of their gains, but the platform will also offer tailored investment plans basis goals of investors.
Fixed Invest allows investors to invest up to Rs 2 crore for any tenure from seven days to 60 months. Only those FD options that are regulated by the Reserve Bank of India are available on the platform.
While Fixed Invest facilitates the user to book the FD across any issuer, without the need to open a new bank account with the issuer, the money flows directly to the issuer from the user's bank account, making Fixed Invest a safe and reliable platform. All this at zero convenience fee and no paperwork hassle. Along with this, Fixed Invest is the first and only platform to give back to the users when they book a FD through the platform, up to 0.30% of the amount invested on select deposits.
Currently, FD options from five issuers are available on the platform— AU Small Finance Bank, Fincare Small Finance Bank, Bajaj Finserv, Shriram Finance and Mahindra Finance, making it the largest player in the segment so far.
“We plan to onboard three more issuers, including two banks, in the next three months to further provide a holistic marketplace for our customers,” Shah added.
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