Frequently Asked Questions
RoboDeposits is an AI enabled platform that helps you Automate Your Journey
on Fixed Deposits.
Robodeposits is based on four fundamental principles:
Capital Preservation: We prioritize protecting your investment. Unlike many traditional investment strategies,Robodeposits is designed to minimize the risk of loss.
Predictable Growth: Robodeposits eliminates the uncertainty of volatile markets. Our approach enables you to create and execute well-defined financial plans.
No Management Fees : We automate most of this with technology, and hence there are no management fees, so you can get even greater returns.
Maximized Returns at Zero Risk: We carefully manage your investments to deliver optimal returns while keeping risk exceptionally close to zero.
How Robodeposits Manages Risk:
Default Risk Mitigation: Deposits are spread across multiple banks, with each deposit below the RBI-insured limit of 5 lakhs for guaranteed safety even in the unlikely event of bank failure.
Liquidity Risk Management: Our intelligent portfolio distribution eliminates the need to break deposits early,ensuring you earn full interest and avoid losses.
Market Risk Reduction: We focus on term deposits, the most secure investment vehicle, to shield your funds from market fluctuations.
Concentration Risk Diversification: Deposits are strategically spread across institutions to prevent over-concentration in any single bank.
Counterparty Risk Assessment: We evaluate the risk profile of each institution to ensure your money is placed with only high-quality, trustworthy partners.
At the moment, we intend to offer only fixed deposits. We may add other low risk products as we go along.
RoboDeposits does not connect to your bank in any way. RoboDeposits is only a search platform, and an AI assistant.
At the moment, RoboDeposits is free.
The portfolio is built based on a slightly modified normal distribution curve. It concentrates the recommendations towards the center of the term, but still distributes across the spectrum. Liquidity risk is generally underestimated, and this is to mitigate that.
Liquidity risk is one of the key risks we help manage. SO, even if you did not select a term, it will still assume a very small allocation just to make it less risky.
Yes, you can! After customizing your search, the results are automatically saved. This will save you time in future searches and ensure you always see the most relevant results based on your specific criteria.
The RoboDeposits platform is designed for speed and efficiency. Typically, users can find a suitable time deposit within minutes. Once you’ve selected a time deposit, the booking process is usually completed within a few clicks. Depending on the specific bank and their verification procedures, your time deposit could be activated within a few hours or a few business days.
Interest rates for time deposits vary depending on factors like the term length, the amount deposited, and the specific bank. Compared to other investment options like stocks or mutual funds, time deposits are generally significantly less risky.
If optimized, they can easily match returns from index funds, at almost zero risk. They provide a stable and predictable income stream, making them a popular choice for conservative investors seeking capital preservation.
Interest rates are primarily influenced by the prevailing market conditions, central bank policies, and the individual bank’s own risk assessment. Generally, longer-term deposits tend to offer higher interest rates than shorter-term ones. The amount deposited can also play a role, with some banks offering tiered interest rates for larger deposits.
Time deposits are considered low-risk investments. Your principal is typically insured up to a certain amount by the RBI or a similar institution
Early withdrawal penalties can vary between banks and specific time deposit terms. It’s crucial to review the terms and conditions carefully before booking a time deposit.
Yes, RoboDeposits prioritizes transparency and want you to make informed decisions. RoboDeposits provide summary information about each bank. This information is readily available on each time deposit listing to help you assess the stability and reliability of the institution.
Currently, the RoboDeposits platform focuses exclusively on time deposits, as we believe they offer a unique combination of security and predictable returns. However, we are constantly exploring opportunities to expand our offerings and provide a more comprehensive suite of financial products in the future. Stay tuned for exciting updates!
RoboDeposits prioritizes the security of your data. We employ robust encryption protocols, secure servers, and multi-factor authentication to safeguard your personal and financial information. We also adhere to strict privacy policies and never share your data with third parties without your explicit consent.
Creating an account is easy! Simply click on the “Sign Up” button on our homepage and follow the prompts. You’ll be asked to provide your name, email address, phone number, and a secure password. We may also ask for additional information to verify your identity, such as your date of birth and address.
We take the security of your account very seriously. We employ multiple layers of protection, including:
- Encryption: We use strong encryption to protect your data both in transit and at rest.
- Firewalls: We have robust firewalls in place to prevent unauthorized access to our systems.
- Fraud monitoring: We continuously monitor for suspicious activity and have systems in place to detect and prevent fraud.
- Secure servers: Your data is stored on secure servers with restricted access.
Yes, we use industry-standard encryption protocols (like SSL/TLS) to secure all data transmitted between your device and our platform. This ensures that your information remains confidential and cannot be intercepted by unauthorized parties.
No, we will never ask for your password via email, phone, or any other means of communication. If you receive any such request, it’s likely a phishing attempt. Please report it to our customer support team immediately.
We understand the importance of protecting your personal and financial data. We are committed to handling your information with the utmost care and confidentiality.
A SuperDeposit is a portfolio of deposits, that behaves like a single deposit. It takes into account the liquidity requirements, other risk parameters and maximizes returns at the given parameters.
When a Bot is handling the split, it does not matter. However, at this stage, it is minimized to a few for minimizing manual complexity.
For instance, the bot may recommend that a Rs 2,00,000 deposit be split into 20 deposits of Rs 10,000 each if it finds it to be beneficial. Don’t worry, the bot will handle the operational complexity when its fully live.
As per RBI guidelines, different types of Financial Institutions can accept deposits. These range from Commercial Banks, Cooperative Banks or Non-Banking Financial Institutions. Each of them have their own risk ratings as well.
We provide some information on the type of FI for transparency.
When you click on “RoboDeposit This”, the application will contact the bank and inform them of the intent to place a deposit. It may also handle some of the operational elements like form filling, alerts, reminders, etc. The actual transfer of money towards the deposit is not handled by the platform.
This feature is currently under testing and will be made public shortly.
You can record your existing deposits in the Enter Deposit tab. This will help you monitor all your deposits in one place.
Squeeze every rupee out of your capital. Even if it is a 7 day deposit.
For instance, a Rs 50,000 deposit for 28 days gets about Rs 250-Rs 300. Completely risk free ! Thats almost an entire month’s cell phone charges, for free ! Thats it, a single FD can mean lifelong free cell phone.
And remember that the bank keeps this, from lakhs of customers, if you all don’t take it !