MobiKwik, a leading digital financial services platform, has launched a new-age Instant Fixed Deposit (FD) product in partnership with Small Finance Banks (SFBs) and Non-Banking Financial Companies (NBFCs). The product offers users the opportunity to earn up to 9.5% interest per annum on their savings, without requiring a new bank account. The FD product features a flexible tenure ranging from 7 days to 60 months, with premature withdrawals allowed, subject to interest rate adjustments. Partnering with SFBs like Suryoday Small Finance Bank and Bajaj Finance, MobiKwik aims to simplify savings and make it accessible to users with limited access to traditional financial products. The CEO of MobiKwik, Bipin Preet Singh, emphasized the importance of FDs in Indian households, providing a secure and reliable way to build wealth. The product is designed to be simple and accessible, especially for those in remote areas.

Source: https://mybigplunge.com/business/banking/mobikwik-launches-new-fixed-deposit-product-offering-returns-up-to-9-5/