Why can I see FD returns without the Belong bonus when I am booking my FD?
While booking a FD, you might see a lower interest rate which is our partner bank's interest rate. The bonus is offered by Belong independently hence it will not show in the bank's environment in the app. Your total maturity amount in the FD will include bank's interest rate and Belong bonus. Here is how it works.
1. Belong USD FD section
- Belong's USD FD section shows the breakup of the maturity amount that includes both the bank rate and the Belong bonus.
2. Bank's environment in the app for booking the FD
- When you select the 'continue to bank' you are in the bank's environment for booking the FD
- This section shows maturity amount only includes bank's interest rate
- Continue to book your FD
3. FD booking is successful
Once the FD booking is successful you navigate to the FD portfolio section of the Belong app
- In the portfolio section you will be able to review the maturity amount which will be credited to your Belong wallet that includes the Belong bonus.
- Belong bonus calculation after the booking of FD will take a minute to reflect in the portfolio section
If you have any questions, please feel free to reach to us on WhatsApp by clicking on the link here.
Please note that the bank's FD advice will only show the interest rate offered by the bank. However, on maturity both the bank interest and Belong's bonus will be credited to your wallet. Belong bonus will not apply if the FD is prematurely withdrawn.
Related Articles
What is the Belong USD FD?
The USD Fixed Deposit on Belong is a USD-denominated FD offered in partnership with RBL bank’s GIFT City unit. The key highlights of this FD for NRIs are: Higher interest rates: Indian banks typically provide higher interest rates than NRIs’ local ...How is the USD FD on Belong better than FCNR deposits?
Conceptually, they are similar to FCNR deposits, but there are some key differences which make them better than FCNR deposits. Unlike FCNR deposits, which have a minimum tenure of 1 year, Belong USD FDs are available for lower tenures as well - 3 ...What are the returns offered by Belong on the USD FD?
Currently we are offering a very competitive return of 6% p.a. for these tenures: 3 months, 6 months and 1 year. This is Belong's introductory offer and is not indefinite.How safe is Belong?
Belong’s app is operated by Betafront Technologies Pvt Ltd and its subsidiaries.The wallet and FD product is provided by its subsidiary Betafront Financial Services (IFSC) Pvt Ltd under a Payments Services Provider (PSP) license from IFSCA (the ...What happens to my FD if Belong shuts down?
Your fixed deposit is made directly under your name and contact details with our partner bank. You will also receive an FD receipt from the partner bank on your email id once you book any FD. In the unlikely event that Belong shuts down, you can ...