Vested Finance, an online investment framework that helps Indian investors to invest in the US stock market in a hassle-free and straightforward way, recently announced a partnership with SBM Bank India to make depositing funds into Vested accounts simpler, quicker, and more effortless. Vested and SBM Bank India have partnered to release Vested Direct, a first-of-its-kind online cross-border money transfers solution in India. Previously, Indian investors who wanted to invest in US stocks such as Apple, Amazon, Facebook, and Microsoft had to transfer the funds using their current bank accounts. Multiple steps were required, and investors had to pay high foreign exchange markups and fixed transfer fees. It could take up to 5 days to complete the transfer. The process is significantly improved with Vested Direct, with easy steps to begin a transfer, lower fees, and a quicker deposit timeframe.
They have seen rapidly growing interest among Indian investors to broaden their portfolios globally, stated Viram Shah, Co-Founder & CEO of Vested Finance. The most significant bottleneck so far has been the deposit journey, which has been hampered by high fees and a lengthy process. Their goal at Vested is to make diversification simple. Their collaboration with SBM Bank India will enable investors to build international portfolios in ways never conceived before. Vested Direct is a solution that will facilitate smooth, secure, and straightforward fund transfers that are 100 percent online and charge low fees for the first time in India. They are ecstatic.
Investors can open a free, no-minimum-balance savings account with SBM Bank funds through Vested Direct. Investors can deposit funds in INR, which will then be converted to USD and transferred to their Vested account.
They believe banking is meant to resolve issues, and collaborative effort is the key to sustained solutions, stated Neeraj Sinha, Head- Retail & Consumer Banking, SBM Bank India. Partnering with Vested Finance aligns with their values: making the challenge of international investing simple for end-users while uplifting Vested to build a trustworthy and readily available global investing platform. This collaboration with SBM Bank India will allow Indian investors to diversify their portfolios geographically and intelligently.
About Vested Finance
Vested Finance is a U.S. Securities and Exchange Commission (SEC) Registered Investment Advisor (RIA) based in California that offers an online investment platform that allows Indian investors to invest in the stock market in the United States. The organization aims to enable long-term wealth creation by allowing local investors to invest globally. They’ve also teamed up with DriveWealth, a well-known SEC-registered broker in the United States.
For more information, visit https://vested.co.in/
About SBM Bank India
SBM Bank (India) Limited (“SBM Bank India”) is the first bank in India to be granted a universal banking license by the Reserve Bank of India to establish and manage as a Scheduled Commercial Bank in the Wholly Owned Subsidiary (WOS) mode. In Mumbai, Chennai, Delhi, Bangalore, Hyderabad, Palghar, Ramachandrapuram, and Ahmedabad, SBM Bank India has an 8-branch network. SBM Bank India has extensive domain knowledge and is led by a core group of industry veterans with over a century of combined banking and financial expertise.
For more information, visit http://www.sbmbank.co.in/