Vault is a virtual bank account service provided to you in partnership with Yes Bank. All of your investments and returns via Grip will now be enabled through the Vault providing you with greater visibility and control over your transactions.
Your Vault account will now:
1.Receive all the returns from your investments via Grip
2.Receive refunds/cancellation amounts from any investment made by you
3.Enable you to add money to the Vault using NEFT/ RTGS/ IMPS or UPI or Netbanking
4.Allow you to use the funds available in your Vault for making new investments seamlessly
5.Allow you to instantly withdraw any available funds to your registered bank account
To provide security of your funds, Vault is established as an escrow account by Yes Bank. Without your authorization no funds can be withdrawn and hence there is no chance of misappropriation of your money.
Vault will allow you to make investments and receive returns through a single dedicated account. It will further simplify the process of maintaining transaction records for all your investments and returns via Grip. You will be able to:
1.Receive all the returns/ refunds/ cancellations from your investments via Grip
2.Complete new investments with a single-click using available funds
3.View real-time transaction by transaction history
4.Always be able to instantly withdraw any available funds to your desired bank account
Shortly, you will also be able to set auto reinvestment rules to redeploy your returns in new investments via Grip and compound your returns.
To provide security of your funds, Vault is established as an escrow account by Yes Bank. Escrow accounts are typically non-interest bearing in nature and hence your funds in Vault will not receive any interest.
Currently, we do not provide the option of downloading your Vault statement through the Grip platform. However, we do hear you and are working towards making this feature available soon.
Once you select the asset you want to invest in and enter the amount. You will be provided with an option to choose Vault balance to confirm the investment. In case an investor wants to invest more than their Vault balance, the remaining amount can be invested through Online Payment Gateway