FAQs

High Interest Rates on Savings and Fixed Deposits - is the most desired action that Indian bank depositors always look forward to. But, year over year, the interest rates fluctuate and see the lows and highs but never give the account holders a stable inflow of interest from the banks.

Most of the depositors too are unaware that there are specific investment instruments which give a higher rate of interest for their money. While the banks give out anywhere in the range of 4% to 6% interest per annum, these specific investment instruments like liquid and ultra short term debt mutual funds gives you a good 7% to 9%+ interest. So, how come people are so unaware of these investment strategies? Because, these are low risk and high yield instruments. There is a no to little risk involved while investing in these kinds of funds.

People focus more on the the word 'risk' and forget the term 'low' before the entire word 'low risk'.
Everyone likes their principal amount(corpus) to be untouched because, duh, that's my hard earned money. No one is eligible to touch it. So, these kind of investment instruments come with the most reliable companies backing them up. These are the investment strategies that companies with thousands of crores of rupees in revenue look at to park their funds in.

We looked at several investment instruments and chose Reliance Money Manager Fund and Reliance Liquid Fund Treasury Plan Institutional Plan to invest. This is because these funds consistently delivered higher return on investment. So, we simplified the entire process and made it easier for a retail investor to put their idle money through FinoZen app. Just download the FinoZen app from Android store, create an account and start investing from day 1. You can see the interest being deposited on a daily basis.

Please scroll down and find the answers to your questions. If we haven't provided an answer to your query below, please contact us with your questions. We will get back to you within no time.

Getting Started

1What is FinoZen?
FinoZen is a mobile app where you can watch your money grow, literally! It enables you to invest and withdraw in just a click while your money grows at a rate which is expected to be higher than fixed deposits.
2How does FinoZen work?
FinoZen channels your money to the selected liquid/ultra-short term debt mutual fund which gives the best return at lowest risk. You will have full visibility and control of your money at all times. You can choose to Add or withdraw money anytime, anywhere with no penalties applicable.
3Who is FinoZen meant for?
FinoZen is meant for anyone who has excess money parked in their bank account. If you wish to make your money work for you and earn you interest daily in just a click, then FinoZen is meant for you. You should be an Indian National, NRI or an Indian Company investing in person capacity.
4Why should I use Finozen over other options like savings accounts, fixed deposits?
If your money is in Savings account, you get low returns at best quarterly. Fixed Deposits and other saving instruments will have higher returns but have a lock in period. There are liquid and ultra short term debt mutual funds, who have historically given 7-9% interest rate, returns get credited in your account everyday, and you can add or withdraw any time!

Registration

How to open a FinoZen account?

1I have signed up, what happens next?
Congratulations and welcome to Finozen! Here are the next steps:
  1. Account Activation: Please enter your PAN No. and Bank Account No. to instantly activate your account.
  2. Additional Documents (Optional): Depending on your KYC Status we will request you for additional documents. If you are already KYC Verified, we don’t need any further information from you.
  3. Start Investing: Post activation of account, you can click on “Add Money” and start investing
  4. Welcome to FinoZen family, now you can watch your money grow!
2Why are these documents required?
These requirements are specified by SEBI (Securities and Exchange Board of India) and other regulatory bodies. We submit these documents to the Mutual fund for account creation.

Transactions

How can I add and withdraw money?

1Where does my money go?
FinoZen channels your money to the selected liquid/ultra-short term debt mutual fund which gives the best return at lowest risk. You will have full visibility and control of your money at all times. You can choose to Add or withdraw money anytime, anywhere with no penalties applicable.
2How soon can I start investing?
Please enter your PAN No. and Bank Account No. to instantly activate your account, post which you can start investing.
3How often can I invest/Add money or withdraw?
You can invest/add money or withdraw as often as you want. There are no restrictions on the frequency of your transactions. Also, there are no penalties or charges applicable when you withdraw your money.
4How soon will my investments reflect on FinoZen?
All Investments will be processed on next working day and will reflect in your FinoZen account at 11:30 am on next day of processing. Working days are Monday to Friday except Bank Holidays. For ex: An investment done on Sunday, will be processed on Monday and will reflect in your FinoZen account on 11:30 am Tuesday.
5Where does my money go once I withdraw?
Your money will be deposited back to the bank account you registered with us at the time of your account opening.
6How soon can I access my withdrawn money?
If you opt for Instant Withdrawal, you can withdraw your investments in less than 30 mins. For normal withdrawal, schedule of deposit is mentioned on Withdraw page
7How much can I invest at a time? Is there a minimum or a maximum
You can invest any amount from a minimum of INR 500.
8How long do I need to stay invested? Is there a lock-in period
There is no minimum period or lock-in. You have the option to withdraw your money anytime. Your money will grow from the very next day that you have invested, irrespective.
9Can I invest through cash/cheque?
No. You can invest only through app or FinoZen website through Netbanking or Debit Card.

Support

How can I get in touch with you?

1Where is your office?
Our office is located at:
#25, 18th Cross,
9th Main, Behind McDonald,
HSR Layout,Sector 7,
Bengaluru, 560102 Karnataka.
Our business hours are Monday to Friday 10 am to 8 pm.
2How can I reach you in case of any questions?
You can call us Monday to Friday 9 am to 9 pm by using the dialer icon on the top right corner on any page of the app.
You can also reach us via email at support[AT]finozen[DOT]com. We will respond to your queries within 1 business days.
You can also send us your feedback by going to the “Contact Us” section on the left menu panel of the app.

Safe and Secure

Investing through FinoZen is safe and secure. Your savings are processed to your accounts with 256-but encryption, which is a standard followed by all the banks in the world.
We are authorized by SEBI and also registered with Association of Mutual Funds in India[AMFI ] - ARN-107100

How Do We Select Funds?

In FinoZen, we have ensured that there is minimal risk to your investments with high returns and almost instantaneous liquidity. Your Investments directly go to a pre-selected liquid/ultra-short term debt fund. Following are the parameters we consider before selecting a fund for you –

Funds Selection Methodology

1A. Net Assets of Liquid Fund
We give high weight-age to the Net Amount Invested in a fund, and only those funds with greater than Rs. 2,000 Cr. in net assets are considered. This ensures that there is no liquidity crunch.
2B. Size of Asset Management Company
Size of Asset Management Company is given due importance and only top 10 fund houses are selected by us.
3C. Average Credit Quality
To ensure safety of investments, we select only those funds which invest in short term AAA or AA rated securities, ensuring that funds are extremely low risk.
4D. Technical Indicators
Our algorithm takes into factors 5 important technical indicators – Standard Deviation, Sharpe Ratio, Alpha, Beta and R-Squared to benchmark liquid funds. This ensures high returns with lowest risk.

Gain Interest from Day 1

The amount you invest starts earning interest right from day 1. The interest amount gets credited on a daily basis and your account does not have any lock-in period.
And you can withdraw instantly to your bank account. Download now and start Investing today.