Bengaluru, June 19 -- In the face of persistently low interest rates on traditional savings accounts, fintech startup Multipl is redefining how Indians save for short- and long-term goals, by offering a model it calls "spend-vesting"-a fusion of goal-based investing and exclusive brand rewards.
Speaking to UNI, the company's co-founder Vikas Jain said: "Today, money lying idle in savings bank accounts earns a meagre 2.5% to 2.75% interest. Even fixed deposits in well-regulated banks barely offer 3-7%, with the upper limit reserved for longer tenures."
Instead of letting funds stagnate, Multipl encourages users to invest in safer options like liquid and ultra-short-term debt funds, which offer returns between 6.5% and 8%-without exposing i...