Fixed return investment platform Stable Money has launched the country’s first fixed deposit (FD) marketplace for retail investors.
The platform offers FDs, comparing interest rates from over 200 banks and NBFCs, and enables customers to manage and track their FDs on the platform.
Additional features include ‘Break FD’ which gives flexibility to access funds before maturity without sacrificing returns, and ‘FD Laddering’ that helps maintain a balanced portfolio by considering both liquidity and returns. The ‘Switch FD’ feature allows depositors to make swift adjustments in response to market changes.
While the initial focus is on fixed deposits, the company plans to expand its offerings to include a diverse range of investment avenues in the future by combining financial stability with user-friendly technology.
Other income opportunities
Stable Money also offers other fixed income opportunities such as debt mutual funds, bonds, and other low-risk asset classes on the platform. It recently secured funding from Matrix Partners and Lightspeed Venture Partners. Since the soft launch, Stable Money has 50,000 users registered on the platform.
“We’re here to provide a financial safety net that assures stability and resilience, especially in these unpredictable times,” Founders Saurabh Jain and Harish Reddy said, adding that the objective is to “democratise fixed-return investments and provide a transparent, user-friendly avenue”.
Stable Money will embark on an India tour covering over 15 cities, to raise awareness about the benefits of fixed-income instruments through workshops and conferences, it said.