Cashaa personal account: Fixed Deposit interest rate of 24%, Flex Earnings upto 13% interest rate announced. Should you invest?
After catering to business users, crypto-friendly neo bank Cashaa has announced the launch of personal accounts with a yield program for individuals. In a statement, Cashaa said personal accounts will enable users to store, buy, sell and earn interest without risking assets to unknown Defi projects.
Cashaa has been providing banking services to crypto businesses globally, along with physical banking services in India through UNICAS. After offering essential banking services to businesses, the brand has launched the personal wallet for retail users.
The statement said that through the new wallet users can generate the “best yield” on crypto, stable coin, and fiat deposits in over 22 supported currencies. The interest will be paid daily to investors with no risk of losing their funds to Defi projects.
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“We are the biggest business banking platform providing services to the crypto industry. Today over 400 crypto brands are using Cashaa including industry leaders from across the globe. Cashaa is a preferred banking platform for business in the crypto industry. Launching personal accounts with best interest rates is an important milestone for us. We are taking another step forward in terms of finding a balance between regulation and providing benefit to crypto community, and expect Cashaa to also do well as a consumer brand,” said Kumar Gaurav, Founder and CEO, Cashaa.
Cashaa Personal Account Features
Cashaa said that with the new user-friendly account, it has removed the dependency of any web3 wallets.
Cashaa personal account will comprise two modules:
- Flex Earnings upto 13% interest rate with no locking, user will start earning interest as soon as they deposit the supported crypto in the Cashaa personal wallet, and
- Fixed Deposit Earnings up to 24% interest rate with funds locking period between 1 month to 12 months. Fixed deposits will be available for both business and personal users. Users will also get up to a 4% bonus interest rate on opting for Interest earn mode in CAS tokens.
Cashaa aims to revolutionize the fintech space by banking the global crypto economy. Over 400 crypto brands including industry leaders like Binance, Kucoin, Elrond, Polygon, Bitbns, CoinDCX, Unocoin,CoinSwitch and many others are using Cashaa services, the statement said. In addition to the Unicas in India, Cashaa will be rolling out its services for personal users across the globe.
Crypto income in India is proposed to be taxed at flat 30% rate from next financial year. (Read details here)
(Cryptos are unregulated assets in India. Investing in them could lead to losses. Please consult your financial advisor before making any investment decision.)
