Lakhs of rupees of yours are lying idle in the normal savings account of the bank, on which you get a meager interest of only 3-5 percent per annum. Whereas, 5-7 percent interest is available in fixed deposits. On the other hand, mutual funds give investors a strong return of up to 12-15 percent per annum. According to an estimate, about ₹ 80 lakh crore rupees in India are lying idle in such low-interest rate bank savings accounts.
To make this huge amount a source of income, new-age fintech platform Curie Money has launched a high-return digital savings account ‘Anubhav’. ICICI. Launched in partnership with ICICI Prudential Mutual Fund and Yes Bank, this account offers mutual fund returns as well as an instant withdrawal facility through UPI (Unified Payments Interface).
Zero-balance account opening facility
has partnered with Yes Bank to offer this special savings account facility. You can open this account with zero balance, which means there is no obligation to maintain a minimum balance in it.
Curie Money has received approval from NPCI (National Payments Corporation of India) to work as a TPAP (Third Party Application Provider) for UPI services. With this, it joins the league of platforms like Google Pay and PhonePe. Curie Money, in collaboration with ICICI Prudential Mutual Fund, enables its users to invest their idle savings in liquid and overnight mutual fund schemes, helping investors earn higher returns than traditional savings accounts.
Better earning opportunities every year
Now users can earn better returns annually by investing in liquid and overnight mutual funds instead of depositing money in a savings account. Investors can make instant payments through UPI. Money from their mutual fund investments (up to ₹50,000) is automatically redeemed and credited to their linked bank account in real-time. This facility offers much more flexibility and speed than traditional savings accounts.
Curie Money was co-founded by Arindam Ghosh and Tushar Chaudhary and also holds a Mutual Fund Distribution License from the Association of Mutual Fund Associations in India (AMFI), which shows their credibility.
Open an account without any paperwork
The entire process from opening an account to investing, redeeming, and making payments is paperless and extremely easy. Backed by Yes Bank, this account has no minimum balance requirement.
Liquid funds are low-risk. Most importantly, only the gains are taxed, not the entire withdrawn amount. Thus, this account provides a more efficient way to manage idle cash compared to traditional savings options. This offering is designed for individuals who want to get better value from their idle savings without compromising on liquidity or convenience. Curie Money uses SEBI-approved instant redemption facilities and integrates them with UPI through their Yes Bank savings account, ensuring that investors retain control over their money and let it work more for them.