Saathi offers a savings platform that incentivizes users to achieve their financial goals through a rewards system. The service integrates goal-setting tools with tangible benefits to encourage consistent saving behavior. This platform helps users build capital by making the process of saving more engaging and immediately gratifying.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals, particularly in emerging markets, lack access to high-yield savings accounts and are unable to effectively save for personal goals due to low interest rates and minimum balance requirements. Traditional savings options often fail to incentivize consistent saving behavior or provide additional benefits beyond basic interest accrual.
Solution
Saathi provides a digital savings platform that offers users high-interest savings accounts without requiring a minimum balance, enabling them to earn up to 7.50% annually. The platform enhances the savings experience by integrating rewards from partnered brands, allowing users to earn discounts and cashback on various purchases. Saathi also facilitates collaborative saving, enabling users to invite friends and family to save together for shared goals.
Target Audience
Saathi targets individuals, particularly in emerging markets, who are looking for high-yield, accessible savings options and are interested in earning rewards and saving collaboratively.
Features
- High-interest digital savings accounts with up to 7.50% annual yield
- Zero minimum balance requirement
- Rewards program offering discounts and cashback from partnered brands
- Collaborative saving feature allowing users to save with friends and family
- Virtual card for spending with no fees
- Savings Club community for sharing saving tips and experiences
- Integration with Suryoday Bank for secure and trusted banking services
- Bank-grade security with ISO and PCI compliance
- Deposit insurance up to ₹5,00,000