in this Guide you learn about Stable Money Review and Its a Safe or Not for Fixed Deposit Investment. Fixed Deposit is Traditional Instrument for Investment but you need to always open a Bank Account but Now this Problem has been solved with Stable Money.
Stable Money Review
Stable Money Started in the year of 2022 by Ex-CEO Navi Mutual Fund Saurav Jain and Harish Reddy. Stable Money is India’s first digital fixed-return investment platform and is also available for download on PlayStore. It is an online market platform that concentrates on conferring users with credible fixed income investment opportunities.
How to invest in fixed deposit (FD)on Stable Money App
Step 1-When you open the app,To open the online application form, you will have to click on Open FD at the top of this page.
Step 2– you will have to login with the mobile number which is linked to your bank account.
Step 3 – You have to choose the investment amount, investment tenure and then payment recurrence.
Step 4 – After that you will have to enter your PAN card number and date of birth.
Step 5 – If you are an existing customer then you will have to confirm your KYC, whatever details they have, they will have to confirm and if you want to change something then you can make those changes also. But if you are a new customer then you will have to complete KYC with your Aadhar card.
Step 6 – After that a declaration will appear, please read it carefully and once you agree to the terms and conditions then enter your bank details and proceed to make the payment.
Step 7 – You can complete your payment by using Net Banking, UPI or NEFT/RTGS.
As soon as your fixed deposit slot is booked, you will receive a fixed deposit receipt on your registered email ID and an electronic fixed deposit will also be sent on your mobile number, email-id within 3 working days.
Is a stable money app safe or not?
Yes, Stable Money is a safe platform.First of all, whatever fixed deposit (FD) amount you are depositing, it goes directly to the bank. Here basically the stable money app simply works like a mediator and if you make FD in a small finance bank or in a commercial bank then there is no problem because DICGC (Deposit Insurance and Credit Guarantee Corporation) provides you an insurance of Rs 5 lakh and the insurance amount available for Rs 5 lakh includes the principal amount as well as the interest amount.
And also keep in mind that the insurance of ₹ 5 lakh is not applicable on NBFC companies and the small co-operative societies as well. It is applicable only on commercial banks,small finance banks and nationalized banks.
Stable money Funding
As we all know, generally if you want to make a fixed deposit, you will have to open an account in a bank. But to make a fixed deposit in this app, there is no need to open an account. You can create a fixed deposit by simply visiting the platform. You will see the fixed deposit (FDs) rates of almost more than 200 banks on the platform,so you can check out according to your budget.
Moreover, the features are also reckoned ‘Break FD’ which facilitates access to funds before maturity without renunciation returns, and ‘FD Laddering’ which also helps maintain a balanced portfolio by considering both liquidity and returns. The ‘Switch FD’ feature permits depositors to make rapid consistency in reactance to market changes.
Conclusion on Stable Money App Review
We are here to provide a financial safety net that assures the stability and flexibility especially in these unprecedented times. As we know, Stable Money has covered over 15 cities and is on a tour of India to raise awareness about the benefits of fixed income apparatus through workshops, gathering sessions and conferences.
