Bengaluru-based Neobanking Platform freo has Equitas Small Finance Bank own digital savings account in partnership with ‘free save’ launched. With this launch, it has become the first consumer Neobank in the country to offer full-stack neo-banking products including smart savings account, credit and payment products, cards and wealth-development products. Neobank is planning to open one million new accounts in the next ten months.
Features of Freo Save:
- FreeoSave will provide instant access to credit and purchases through its partnership with Equitas Small Finance Bank. It will provide up to 7 per cent interest on customer savings for balances above Rs 5 lakh and up to Rs 2 crore.
- FreeoSave will be available in several Indian languages including English, Hindi and Tamil. FreeoSave brings together our expertise in banking services and Freo’s strength in lending to offer consumers world-class consumer-first.
Started as MoneyTap in 2016, Freyo is India’s first credit-based Neobank. Currently, Freyo offers a wide range of financial products including lines of credit, credit cards, EMI cards, deposits and savings, Buy Now, Pay Later (BNPL) products in partnership with banks and financial institutions.
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