Curie Money, a new-age fintech platform, in partnership with ICICI Prudential Mutual Fund and YES BANK, has launched a high-yield digital savings experience that combines instant UPI payments with mutual fund returns.
To bring this offering to life, Curie Money has partnered with YES BANK to provide zero-balance savings accounts, and has secured approval from NPCI to operate as a TPAP (Third Party Application Provider) for UPI services, joining the ranks of platforms like Google Pay and PhonePe.
Through its association with ICICI Prudential Mutual Fund, Curie Money enables its users to park their idle savings in liquid and overnight mutual fund schemes, enabling investors to generate returns higher than traditional savings accounts.
What is in it for Investors?
Higher Returns: Instead of parking money in a savings account, users can now earn higher annualised returns by investing in liquid and overnight mutual funds.
Instant Access: Investors can make UPI payments instantly, with funds auto-redeemed from their mutual fund investment (upto Rs. 50,000) and credited to their linked bank account in real time.
Fully Digital: From account opening to investing, redeeming, and paying – the entire journey is paperless and seamless.
Zero-Balance Bank Account: Backed by YES BANK, the account offers full functionality without the need for a minimum balance.
Safe and Tax-Efficient: Liquid funds are low-risk, and gains are taxed only on returns, not the full withdrawal amount, offering a more efficient way to manage idle cash than traditional savings option.
This offering is built for individuals who want better value from their idle savings without compromising on liquidity or convenience. Curie Money uses instant redemption features allowed by SEBI and integrates them with UPI via its YES BANK savings account, ensuring that investors stay in control of their money while making it work harder for them.
With over Rs. 80 trillion lying in low-interest bank accounts across India, this innovation could help investors bridge the gap between saving and growing, and reshape how people think about everyday money management.
Co-founded by Arindam Ghosh and Tushar Choudhary, Curie Money is backed by an AMFI mutual fund distribution license, with a mission to bridge the gap between returns and liquidity in everyday banking.
