If you invest in Mobikwik Xtra, then the interest you get at the rate of 12 percent is added to your account every day. You can also withdraw that money at any time. On the other hand, you can earn 12.99 percent interest by investing in Xtra Plus, but the lock-in period is 3 months.
New Delhi. Every customer who opens FD in banks wants to get more interest on his deposited capital. Bank FDs usually fetch 6-7 per cent interest despite the increase in the repo rate. Small finance banks pay around 9% interest on FDs. At the same time, digital payment platform Mobikwik has recently launched the Xtra Plus feature for its users.
Through this feature, users can earn up to 12.99 percent interest. Earlier, the company had launched the Xtra feature in which up to 12 per cent interest is available. The company has partnered with RBI regulated P2P investing platform Lendbox (Transactree Technologies Pvt Ltd) for this feature.
If you invest in Mobikwik Xtra, then the interest you get at the rate of 12 percent is added to your account every day. You can also withdraw that money at any time. On the other hand, you can earn 12.99 percent interest by investing in Xtra Plus, but the lock-in period is 3 months.
Who can invest in Mobikwik Xtra or Xtra Plus?
Any Indian above 18 years of age with PAN card and Indian bank account can invest in it. NRIs can invest in it through their NRO bank account.
Are there any charges for investing in Mobikwik Xtra or Xtra Plus?
No, there are no charges for deposit or withdrawal in Mobikwik Xtra. There is no investment fee for investing in Mobikwik Xtra Plus. In Mobikwik Xtra Plus, there is no interest for withdrawing money before 30 days and up to 8% interest for withdrawing money before maturity.
How much investment required
Investing in Mobikwik Xtra or Xtra Plus can start with as low as Rs 1000. You can invest up to Rs 10 lakh in this. If you want to increase your investment more than 10 lakh rupees then you have to contact Mobikwik team. According to RBI guidelines, a net worth certificate will be required for investing more than Rs 10 lakh.
How safe is investing in P2P lending platforms?
Many P2P investing platforms in the country are regulated by the RBI. However, there is a risk in this investment as well. In such a situation, one should invest wisely.
