Fintech

Fixed Rebrands as Fixed Invest, Unveils Online Platform for High-Return Fixed Deposits

• ByStartupStory     |    September 30, 2023

Fintech startup Fixed has unveiled Fixed Invest, a dedicated platform designed to simplify the process of investing in fixed deposits (FDs) for Indian investors. Fixed Invest offers a seamless, paperless experience, enabling users to open an FD in just three minutes.

On the Fixed Invest platform, prospective investors can explore a range of FD options from various banks and corporates. They can compare these options with their existing bank deposits, select an FD, complete the online KYC process, and initiate the investment process.

“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 of Fixed.

Fixed, launched in 2023, aims to be a one-stop-shop for retail investors seeking low-risk investment options. Earlier, the platform introduced BetterFD TM on WhatsApp, allowing investors to find FD options with higher interest rates than their own banks and invest directly through the issuer’s websites.

With Fixed Invest, investors can open an FD account without the need for a traditional savings bank account. The platform offers tailored investment plans based on investors’ goals. It permits investments of up to Rs 2 crore for various tenures ranging from seven days to 60 months, with only RBI-regulated FD options available.

Fixed Invest ensures a secure and reliable investment experience as funds flow directly from the user’s bank account to the issuer, eliminating the need for a new bank account. Moreover, Fixed Invest is the first and only platform that rewards users with up to 0.30% of the invested amount on select deposits.

Currently, the platform offers FD options from five issuers, including AU Small Finance Bank, Fincare Small Finance Bank, Bajaj Finserv, Shriram Finance, and Mahindra Finance, making it a significant player in the segment. The company plans to onboard three more issuers, including two banks, in the next three months to expand its offerings further.

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