FinoZen-Watch Your Money Grow With High Interest Rates in India app info
Are you happy with the 3% to 6% interest rates offered by your banks? No one actually is! Many bank account holders assume that this is how banks operate and do not look for other options. But, there are several investment approaches which give good returns on your money, in the range of 7+%* interest per annum. Is your hard earned money sitting idle in banks accruing very less interest rate? Each and every individual who utilize banks to save their money gets a thought on how their savings can earn higher interest rate and raise the deposited amount considerably. Well, with banks, it's not that simple. So, they eventually settle for the same bank and keep saving more and more of their money in the bank, unaware that they can get more interest rate than being offered by banks. This mainly happens because of two reasons: Either the depositors are not aware of other investment strategies Or they might be content with what their interest returns are on their savings account or fixed deposits This is where FinoZen mobile app can assist you by giving you access tohigh income returns on your investments. With FinoZen app, your investments can earn an interest of7% to 9+%* on an annual basis. FinoZen App Highlights Gain 7% to 9%* interest rate per annum Interest on your amount gets credited in your account on aDAILYbasis Paperless activation - Submit photos through app & get your account activated Track investments and withdrawals anywhere & at anytime, right in the app itself Invest using internet banking or any debit card Instant withdrawal to bank account Receive transactions in your inbox as PDF Excellent Customer Support No TDS for investments For investments over 3 years, you get indexation benefit (Negligible tax payout) What problem are we solving? Most of us arent regular investors and hence more often than not whatever money we havekeeps lying idle in savings bank accountor at best will getlocked away in fixed deposits. To solve the same problem we created FinoZen using which your money gets invested directly in your name on apre-selected Liquid/Ultra-Short Term Debt Mutual Fund, which gives you daily returns safe as savings bank deposit (as they also invest in govt. securities etc.), can be withdrawn anytime i.e. no lock in like FDs. What is our business model & How do we make moolah? This service is free for users because we get a very minimal commission from mutual fund company upto to the tune of 0.05% per annum i.e. if you deposit Rs. 10K with us for a year, we get Rs. 5 (while you as an investor can make upto Rs. 850!) and if you deposit Rs. 10K for 1 day, we get Rs. 5/365 = 1.4 Paise! Why dont I know about liquid funds till now and why does everyone say that mutual funds are subject to market risk while you are saying that its very safe? Simply because liquid funds pay lowest commission in the Industry, while we get only Rs. 5 (for your 10K investment over a year), an equity mutual fund (which is completely dependent on market risk) can fetch upto Rs. 200, hence any normal mutual fund advisor will usually suggest you an equity fund for a long term investment. Liquid funds are the lowest risk funds and have been traditionally used only by big companies to park their money for short period (1 day to 3 years) now we are bringing the same functionality for an individual investors. Why dont we give multiple funds to select from? Because all liquid funds give similar returns ranging from 7% - 9+%, and we dont want to complicate the process of investing at all (we wanted to keep it as simple as an e-commerce buy), we pre-selected the liquid fund for a user following certain parameters. It is mentioned in our Fund Selection Process in FAQ. We are backed by Reliance Money Manager Fund - Growth Plan I am not content with the details. I still have a few questions. How can I get in touch with you? Get in touch with us, we answer every query -