Fipbox: All the info you need to make an informed choice on FDs

Who offers the best rates for a fixed deposit ( FD) in banks or financial institutions? Don’t look any further: Fipbox is a website that provides all the collected information about FD rates, returns, and various benefits offered on the FD investments, by banks and financial institutions in Sri Lanka. All the updated, current information is presented to you in an easy-to-understand format and you can decide where to open your FD after having seen all the information, the web company ( www. fipbox. com) said in a media release last week.

The Fipbox platform was created and launched in February 2018 by Fipbox (Pvt) Ltd, a financial technology company that is committed to creating technology tools to develop and enhance financial services. It is subsidiary of the Capital Alliance Group, a leading financial services company in Sri Lanka.

Fipbox is the online information portal, where you can find information and get in touch with the banks and financial companies offering FDs, so that you can avoid filling in individual application forms. “But your FD is made directly with – and processed by and held by – the bank or financial company you select to make your deposit with,” the statement said.

It said with Fipbox on your desktop, you can make fast, efficient and informed decisions about where to open your FD within the Range of FD investment options available. Fipbox is a centralised digital market that allows financial institutions to list their rates and investors to easily access these potential FD options.

This eliminates time wasted on phone calls and inquiries, where usually an investor needs to individually contact various banks and financial institutions to obtain FD rates on offer at a given time. “Often, individual investors don’t have the time to spend on gathering comprehensive information from all banks and financial companies, and make their FD decision based on only the details they have found. But with Fipbox, now t hey can shop around for the best rates and deals for their FD.

By bringing everyone to a single marketplace, Fipbox says it has broadened the scope for both financial institutions and investors. Fipbox allows FD issuers to reach out to more investors and the investors – whether corporate or individual investors - enjoy a hassle- free and larger pool of potential investment opportunities.

“Fipbox also removes all the tedious paper work and form- filling that has to be done with each fixed deposit. With Fipbox, you only need to provide your complete information once, and that information is stored securely and used with every investment option you make through Fipbox. As a registered investor, you can also track your FD from end- to- end including maturities, re- investments and other aspects of your investment,” the company added.

Fipbox also removes all the tedious paper work and form-filling that has to be done with each fixed deposit. With Fipbox, you only need to provide your complete information once, and that information is stored securely and used with every investment option you make through Fipbox. As a registered investor, you can also track your FD from end-to-end including maturities, re-investments and other aspects of your investment,