If you’re looking for a hassle-free way to invest your money, Stable Money might be a good fit for you. Instead of going to different banks, you compare fixed deposit (FD) rates from over 200 banks all on Stable Money’s platform. They even include well-known options like Utkarsh Small Finance Bank and Bajaj Finance. Plus, they work with other financial institutions (NBFCs) to give you even more choices. And the best part? You can do everything digitally, from the comfort of your home.
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How does Stable Money work?
Tired of long bank queues and paperwork for fixed deposits (FDs)? Stable Money can help! This handy app lets you create FDs with partner banks from the comfort of your couch, all in just a few minutes. Here’s how it works:
1. Pick your bank and FD term: Browse Stable Money’s options and choose the bank and FD term that suits you best.
2. Quick verification: No need to visit a branch! Simply provide your PAN card and Aadhaar details for identity verification.
3. Link your bank account: Make sure the bank account where you want to receive the FD maturity amount is linked within the app.
4. Easy payment: Pay conveniently using UPI or Netbanking directly through the app.
Stable Money will do the rest and your FD will be created with the chosen bank. You’ll receive confirmation via email or directly on the app, with all the details of your FD.
Stable Money: A Fixed Deposit Marketplace
Stable Money is a new online platform that is like a one-stop solution for FDs, letting you compare rates from over 200 banks all in one place. Plus, you can manage your FDs directly on the platform, no more digging through paperwork.
But Stable Money goes beyond just basic FDs. They offer features like “Break FD” which gives you some flexibility to access your money early, and “FD Laddering” to helps you build a balanced investment portfolio. They even have a “Switch FD” option in case interest rates change. While they’re starting with FDs, Stable Money has big plans for the future. From buying and selling to mutual funds, they are trying to expand new horizons and offer a variety of options while keeping things simple and secure.
Referral Program in Stable Money App
You can refer your friends to Stable Money using your unique link. When they sign up and book a fixed deposit (FD) through your link, you’ll get a reward. There’s no limit to how many friends you can refer, but the total amount you can earn is capped at ₹1,50,000. Just keep in mind that you’ll only get rewarded once per friend, and it takes 90 days to receive your payout. Anyone can be your referral except people who already have a Stable Money account. Remember, if a referred friend withdraws their FD early, you won’t get the reward for them and any future benefits from their activity.
How to book FDs in Stable Money?
Stable Money takes the hassle out of finding the perfect Fixed Deposit (FD) for your needs. Book your Fixed Deposit in minutes with the Stable Money App. Here’s how to use their app to book an FD in just a few easy steps:
1. Download & Register: Get the Stable Money app from Google Play or Apple Store. Register with your mobile number linked to your Aadhaar Card for quick verification.
2. Select a Bank or NBFC: Browse through FDs from over 200 banks and NBFCs like Utkarsh Small Finance Bank, Finacare SF Bank, Shriram Finance, Bajaj Finance, South Indian Bank, Shivalik SF, and Axis Bank.
3. Choose Your FD: After that compare interest rates, tenures, and features to find the perfect fit. Found the ideal FD? Click “Proceed” to select the tenure (duration of your investment).
4. Enter Details: Specify the amount you want to invest and confirm the chosen tenure. Click “Choose & Proceed” to move forward.
5. Complete Documentation: Submit your basic details and complete the KYC process (Know Your Customer) through hassle-free online verification.
6. Complete the Payment: Use your preferred payment method to complete the investment. Once the payment is processed, your FD is booked.
FAQs
Is Stable Money Safe?
Stable Money is completely safe. They act like a middleman, connecting you directly with the banks. When you invest in an FD through Stable Money, your money goes straight to the bank you choose. Stable Money does not hold your money for any point in time.
Does Stable Money offer any features besides basic FDs?
Yes! Stable Money offers features like “Break FD” for early access, “FD Laddering” for portfolio building, and “Switch FD” to adjust to interest rate changes.
What are the investment limits for FDs on Stable Money?
Investment limits will vary depending on the chosen bank and FD scheme. You can find details on the Stable Money app or by contacting the specific bank. It is advised not to invest more than 5 lakh Rs.
How do I open an FD with Stable Money?
Download the Stable Money app and register. Browse FD options, choose your preferred bank and term, then complete a quick KYC verification and pay using UPI or Netbanking.