Altcase Has Launched India's Largest Collection of Digital FDs - World News Network

HT Syndication
New Delhi [India], August 30: Fintech investment apps have revolutionised the way people invest in high-risk, high-return assets like stocks and mutual funds.
However, safer options like Fixed Deposits (FDs) were mostly ignored by fintechs until recently. This is because investors have been comfortable investing in FDs in banks where they had their savings account.
But Madhu, co-founder of Altcase, believes that the traditional way of investing in FDs of large banks is actually suboptimal.
“The larger the bank, the lower the FD rate it offers. 75% of India’s savings are at the top 10 banks. FDs in these banks are growing at very moderate rates of around 7%.”
Madhu attributes this to the ease of these large banks to collect deposits.
“The relatively smaller banks and NBFCs are not able to attract deposits as easily as the large banks. So, what do they do? They offer substantially higher FD rates – some as high as 9.5%!”
Altcase is making it convenient to invest in high interest FDs in just 120 seconds. It launched its website and mobile apps earlier this month.
Here’s how Altcase is revolutionising the FD investment process, optimising the returns your savings generate.
Highest FD Interest Rates
While the interest rates of FDs offered by major banks hover around 7%, FDs on Altcase offer interest rates as high as 9.41%.
This means you can get up to 25% higher interest amount over 5 years.
Suppose you invest Rs1,00,000 in an FD with 7.5% interest rate, you will earn interest of approximately Rs43,600. But at 9.0% interest rate, you will earn approximately Rs53,900 – almost 25% more.
Even with the higher interest rates, these FDs are not substantially riskier than regular bank FDs. All the FDs available on Altcase today are AA and AAA rated.
Comprehensive FD Collection
Altcase offers probably the largest collection of digital FDs with 100+ schemes.
You get different FD providers, different FD tenures and different interest payout frequencies (monthly, quarterly etc.).
Senior citizens and women investors enjoy additional interest rates on FD on Altcase.
Hassle-Free Investing
Altcase provides a seamless onboarding experience that allows you to start investing in just 2 minutes.
You don’t need to set up different bank accounts either. With one Altcase account, you can invest in multiple FDs across banks and NBFCs.
Even the payment is safe and quick with options like UPI and netbanking. The money is directly deposited into the FD issuing bank and NBFC and doesn’t hit Altcase’s bank account.
The app features an intuitive design, making it straightforward even for first-time investors. You can even invest using Altcase’s website – https://altcase.com
Quick and Easy Management
Gone are the days of bank visits and complex transactions.
With Altcase, you can transfer funds from your existing bank account instantly and start earning interest.
Altcase also offers an automated renewal option, ensuring that your investments continue to grow without any hassle.
Transparency and Trust
Transparency is at the core of operations at Altcase, with a belief that clear and straightforward terms and conditions are essential for building trust with the users.
You’ll always know exactly what you’re getting into with no hidden fees or surprises. The app also allows you to easily track the performance of your investments, providing real-time updates and detailed insights.
Not Just a Fixed Deposit Platform
“Altcase is more than just a fixed deposit aggregator,” Madhu confirms.
“Our mission is to make investing stress-free. Fixed deposit is a critical element in this vision but there’s more to come – more investment products, strategies and elements that will eventually help us eliminate stress from investing.”
So, Altcase investors can expect access to more investment solutions that will make their investment journey more enjoyable and less stressful.
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