Best Fino Payments Bank alternatives

#1 alternative

Airtel Payments Bank

active

RBI payments bank. Scheduled. DICGC. Bharti Airtel. Not a universal bank, not a wallet.

Gurugram · India payments bank · Bharti Airtel

6.7Mixed

Airtel Payments Bank Ltd is an RBI payments bank (licence under Banking Regulation Act s.22; first payments-bank licence in 2016; scheduled-bank status January 2022). Registered office on their contact page: 5th Floor, Sewa Towers, Udyog Vihar Phase-IV, Gurgaon 122015. DICGC lists Airtel Payments Bank Limited. Eligible deposits follow DICGC up to Rs 5 lakh per depositor per bank. RBI payments-bank rules also cap the end-of-day balance — read the live deposit policy; this file does not invent the rupee figure. Fi and Jupiter sit at partner scheduled banks. Niyo is travel. IPPB and Fino are the other payments-bank files. Use Airtel Payments Bank as a UPI / small-deposit bank. Do not treat it as HDFC.

Best for: Indian residents who want an RBI payments bank for UPI and small deposits — not a salary-plus-loan home.

Licence

Payments bank — Airtel Payments Bank Ltd. Scheduled bank (Jan 2022). Banking Regulation Act s.22

Protection

Airtel Payments Bank Ltd is an RBI-licensed payments bank and a scheduled bank. DICGC lists Airtel Payments Bank Limited. Eligible deposits are DICGC-insured up to Rs 5 lakh per depositor per bank. RBI payments-bank rules also cap how much you may hold — read the live deposit policy on airtelpayments.bank.in. This is a bank class, not a PPI wallet. It is not a full commercial bank: credit/lending is restricted.

Monthly

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#2 alternative

India Post Payments Bank

active

RBI payments bank. DICGC. India Post. Doorstep banking. Not a wallet, not a universal bank.

New Delhi · India Post payments bank · Government of India / Department of Posts

6.5Mixed

India Post Payments Bank Limited is the Department of Posts’ RBI payments bank. The footer on ippbonline.bank.in links DICGC Deposit Insurance; DICGC lists the legal name. Eligible deposits follow DICGC up to Rs 5 lakh per depositor per bank. Payments-bank rules still cap the end-of-day balance — read IPPB’s deposit policy. Doorstep banking, POSA linkage with Post Office savings, DBT and bill pay are the product. Airtel and Fino are the private payments-bank peers. Fi is a partner-bank current account. IPPB is a public payments bank with a postman. Use it for inclusion rails. Do not expect a neobank card.

Best for: Indian residents who want a payments bank that actually shows up at the door, not a metal-card app.

Licence

Payments bank — India Post Payments Bank Limited

Protection

India Post Payments Bank Limited is an RBI payments bank. IPPB’s own footer links DICGC Deposit Insurance. DICGC lists India Post Payments Bank Limited. Eligible deposits follow DICGC up to Rs 5 lakh per depositor per bank. Payments-bank end-of-day balance limits still apply — IPPB’s deposit policy restates RBI’s cap. Doorstep banking is distribution, not a second licence.

Monthly

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#3 alternative

Jupiter

active

Indian money app on a partner-bank current account.

4.3

Bengaluru · 8M+ · ~$130M raised

6.9Mixed

Buy Jupiter for the app. Read the partner-bank line for the deposit. Same rule as Fi.

Best for: Urban Indian users who want a prettier Federal Bank account.

Licence

Partner-bank / NBFC stack

Protection

DICGC on the partner scheduled bank, up to ₹5 lakh — not on the Jupiter brand

Monthly

Free core · metal/credit extras paid

#4 alternative

Fi

closed

Fi was an Indian money app on a Federal Bank savings account. The app is no longer the channel. The deposit was always Federal Bank.

4.1

Bengaluru · 5M+ · ~$140M raised

6.9Mixed

The Fi app is not where you bank. On 11 March 2026 Fi told customers the banking services on the app would stop. Federal Bank said the partnership was ending and the account stayed put. That is the whole file. Directories that still list Fi as a live Indian neobank are dating a wrapper. NeoBankDB keeps the slug so “Fi Money alternative” search does not hit a 404, and so the 2021–26 wrapper era has an obituary. Funds were never at “Fi Bank”. There is no such licence. Download Federal Bank’s FedMobile. The account number did not change. Compare live India files: Jupiter, Niyo, Scapia (card, not a deposit).

Best for: Historical file. Do not open the savings SKU here.

Licence

Partner-bank fintech

Protection

DICGC follows Federal Bank, not Fi. If you still have the account, open FedMobile.

Monthly

Free core · Fit Rules / US stocks extras

#5 alternative

Yuh

active

Yuh is not a bank. Swissquote Bank Ltd is. esisuisse cover is CHF 100,000, shared.

Gland · Swiss all-in-one app · Swissquote (100% after July 2025)

7.6Solid

Yuh is not a bank. The English homepage says it in one paragraph: Swissquote Bank Ltd provides the banking, FINMA authorises that bank, and esisuisse cover is CHF 100,000 shared with Swissquote. July 2025 ended the PostFinance joint venture. If you already hold cash at Swissquote, do not count CHF 100,000 twice. Zak is Bank Cler. Neon sits at Hypothekarbank Lenzburg. Read those files separately.

Best for: People who live in Switzerland and want spend plus invest, and who accept Swissquote as the bank.

Licence

Fintech app — not a bank

Protection

Yuh itself is not a bank. Banking sits at Swissquote Bank Ltd, FINMA-authorised. esisuisse covers eligible deposits up to CHF 100,000. Yuh and Swissquote are one entity, so the cap is shared.

Monthly

No fees whenever possible — live list on yuh.com/en/pricing

#6 alternative

Chase UK

active

J.P. Morgan Europe Limited trading as Chase. UK bank, PRA/FCA, FSCS up to £120,000.

London · UK digital bank · JPMorgan Chase

7.6Solid

Chase UK is a bank. The legal name is J.P. Morgan Europe Limited. PRA-authorised, FCA-regulated, FSCS up to £120,000. It is a useful UK current account with honest travel spend. It is not Revolut’s multi-country stack and not a US Chase login. UK tax residents only.

Best for: UK residents who want a JPMorgan current account in an app, with FSCS, and cheap travel spend.

Licence

UK bank

Protection

FSCS up to £120,000 per depositor per bank (Chase UK FSCS page) at J.P. Morgan Europe Limited.

Monthly

£0