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Fino Bank, also referred to as Fino Payments Bank, is an Indian digital bank whose objective is to bring banking services closer to people especially those who live in the less privileged and rural areas. With Fino Bank services including savings account, UPI transactions, withdrawals, transfer of money and other banking services, the company has managed to come up with an all-inclusive and easily accessible banking system.

Should you be looking for Fino Bank, Fino Payments Bank, Fino savings account, or Fino Bank services, the guide will help you learn all the important details.

What is Fino Bank?

Fino Payments Bank is one of the payments banks of India which provides banking, payment, and remittance services through digital channels and banking outlets. Financial inclusion and last-mile banking form an integral part of the business strategy of Fino Payments Bank.

Fino Payments Bank differs from a normal commercial bank in terms of its payments bank structure, which is developed by the Reserve Bank of India (RBI). These banks have been created for offering small savings facilities along with payments/remittance services to individuals and small enterprises.

Fino Payments Bank has merged physical banking facilities with digital banking services so that customers can complete their routine banking activities without having to go to any conventional bank branches.

Services Provided by Fino Payments Bank

The various services available at Fino include the following:

• Savings accounts
• Current accounts
• UPI payment services
• Money transfer and remittance services
• Deposit and withdrawal of cash via banking points
• Debit card services
• Internet and mobile banking services
• Bill payment and other online payment services
• Insurance and third-party financial products

Fino has also built up its digital platform. The FY2025 annual report of Fino includes features like UPI Lite, UPI Credit Card, and UPI Circle, along with the FinoPay app that offers over 40 banking services.

Fino Payments Bank also displays a list of digital savings account services, Video KYC, UPI Lite and other such services on its notice board.

Fino Savings Account

One of the best products that customers interested in Fino Bank may consider is its savings account product. This bank offers savings facilities through various digital and assisted banking modes.

A Fino savings account would be helpful for those customers who seek banking services primarily related to receiving money, transferring money using UPI facility, fund transfers and withdrawing money through banking outlets of Fino Bank.

But, customers must remember that they must verify the interest rates, minimum balance, transaction limits, and charges before opening a savings account since they keep changing. For instance, the official notice issued by Fino Bank mentions the interest rate changes on savings accounts and changes in digital accounts' charges.

Is Fino Bank a Real Bank?

Yes. The Fino Payments Bank is a payments bank that is regulated by the RBI regulatory structure.

Nevertheless, it is crucial to clarify the meaning of the term "payments bank". The main purpose of payments banks is to accept deposits and conduct payments and money transfers. In particular, payments banks under the RBI framework do not carry out lending activities and do not issue credit cards.

Thus, it is incorrect to compare Fino Bank with a commercial bank in terms of loan services.

Does Fino Bank Provide Loans?

The popular question is does Fino Payments Bank provide loans?

The correct answer should contain an important clarification. First, as a payments bank, Fino itself cannot carry out lending activities under the RBI framework.

However, Fino is able to cooperate with the fintech companies and other financial institutions to distribute certain types of financial products. For instance, according to its FY2025 annual report, Fino partnered with fintech and lending companies in its digital ecosystem.

Thus, it is essential to separate the financial product provided by the payments bank itself from those distributed through its digital ecosystem.

Fino Bank UPI and Digital Banking

Digital transactions are gaining momentum as far as Fino Bank's banking operations are concerned. The bank has been making efforts towards developing its digital infrastructure and has been upgrading itself in terms of UPI.

As per the FY2025 annual report of Fino Bank, the bank has developed an in-house UPI switch and has also extended UPI-based collections and payouts. It is also stated in the annual report of the bank that its digital channels are actively being used by a good number of its customers.

It implies that Fino can provide a daily digital banking facility for carrying out services like UPI, money transfer, account management and more.

Fino Bank Branches and Banking Points

One of the strong points of Fino Bank is the last mile banking facility. In lieu of focusing only on conventional banking branches, the bank provides banking points and business correspondents.

Such a facility can work effectively where conventional bank branches may not be very accessible. The bank makes available its list of branches and CSP (Customer Service Point) through its official notice board.

Is Money Safe in Fino Bank?

Fino Payments Bank is a banking organization that operates within the Indian banking regulatory system. The deposits held in the payments banks can be covered under the provisions of the Deposit Insurance and Credit Guarantee Corporation (DICGC). The payment-bank regulations adopted by the RBI ensure that eligible deposits are covered by the deposit insurance scheme.

Nonetheless, customers should adhere to standard security practices while banking. Do not reveal your OTP, PIN, password or card information to anyone else and communicate about your account using only Fino's official communication channels.

Fino Bank Customer Care

Fino offers customer care services through their official customer-care platforms. According to their official website, 1800 268 1000 is the customer care and merchant helpdesk number at the moment. In addition, email support is available and there is an email id for reporting any fraud.

For security reasons, customers should verify customer-care numbers through the official Fino website and not through social media or unsolicited calls or messages.

Final Word: Should You Choose Fino Bank?

Fino Payments Bank is an excellent choice for those who need digital payments, savings accounts, transfer of money, and banking services that are accessible to them especially when the banking network of Fino makes the task easy.

The main differentiating feature of the Fino Payments Bank as compared to regular banks is the structure of payments banks. It deals in deposits, payments, and financial inclusion as opposed to loans and credits. The developing digital network, UPI, and assisted banking networks make the payments bank suitable for people who want basic banking services.

Before applying for the bank account, you should compare the interest rates, charges, transaction limits, and account features of Fino Bank with other banks. There may be some changes in the banking terminologies, so it is better to use the Fino website as the ultimate source for account-related details.

FAQs Regarding Fino Bank

Is Fino Bank a government bank?

No, Fino Payments Bank is not a government bank but an RBI regulated payment bank.

Is Fino Bank safe?

Fino Payments Bank is regulated under India's banking laws and the deposits of eligible depositors are insured under the DICGC guidelines as applicable.

Does Fino Bank offer loans?

A payments bank cannot indulge in lending activities as per the RBI guidelines.

Is there a facility of UPI in Fino Bank?

Yes, Fino now offers the service of UPI along with other digital payment facilities under its digital banking offerings.

How to contact Fino Bank?

As per the official website of Fino, the customer care/merchant help desk number is 1800 268 10