Fi is a money management platform that re-imagines the banking experience in India. The Federal Bank Account offered through our App, is a digital bank account that gives you the fastest way to open a bank account online.
You can do everything from the Fi App, including p2p payments, fund transfers, bill payments, and more, with features to automate every action. You also get a Debit Card, spends insights and tools to grow your investment and earn rewards.
From 1st July 2020, a stamp duty of 0.005% gets deducted by authorities from the investment amount. After which, the remaining value gets utilised to purchase the fund units. For example, if you invest ₹1 lakh, the government applies a stamp duty of 0.005%. That's a stamp duty of ₹5 & it gets deducted automatically. So, the amount reflected in your order receipt as the investment cost would be ₹99,995.