Introduction
Imagine paying for your coffee, groceries, or utility bills while your money earns higher returns than a regular savings account. Curie Money, a Bengaluru-based fintech startup, makes this possible by blending UPI payments with liquid mutual fund investments. Branded as “India’s only UPI app that grows your money,” Curie promises up to 3x returns compared to traditional savings accounts, offering a solution for idle cash that earns low interest. In this 2025 review, we dive into how Curie Money works, its features, benefits, risks, and whether it’s right for you, based on recent insights and user experiences.
What is Curie Money?
Curie Money is an app that combines the convenience of UPI (Unified Payments Interface) with the growth potential of liquid mutual funds. Unlike standard UPI apps like Paytm or BHIM, where your money sits in a bank account earning 2–3% interest, Curie invests your funds in liquid mutual funds managed by trusted partners like ICICI Prudential Mutual Fund and Bajaj Finserv AMC, delivering annualised returns of 5–7.5%. You can use the app for everyday transactions—paying vendors, sending money to friends, or withdrawing cash—while your balance grows daily.
With ₹84 trillion parked in India’s savings accounts, Curie taps into the need for better returns in a low-interest environment where bank savings yield as little as 2.7–2.75%. For users frustrated with inflation outpacing savings, Curie offers a fresh approach to personal finance, backed by a $1.2 million seed funding round led by India Quotient in December 2024.
How Does Curie Money Work?
Curie Money’s model is simple yet innovative: your money is invested in liquid mutual funds, but you can spend or withdraw it instantly. Here’s the step-by-step process:
Account Creation
Download the Curie app, link your existing bank account (preferably YES Bank for deeper integration), and provide your PAN card for KYC compliance. Setup takes 3–4 minutes without Aadhaar OTP or video KYC.
Fund Allocation
Add money to your Curie Save account, which invests it in liquid mutual funds via ICICI Prudential AMC or Bajaj Finserv AMC. Allocation happens within 1–2 working days.
UPI Payments
Scan a QR code or enter a UPI ID to pay. Curie instantly redeems the required amount from your mutual fund, transfers it to your linked bank account (often a YES Bank digital savings account), and completes the payment in 2–5 seconds after you enter your UPI PIN.
Instant Redemption
Withdraw up to ₹50,000 or 90% of your mutual fund value (whichever is lower) per AMC per day to your bank account, even on holidays. Remaining funds are available in 1 working day.
Growth
Your money earns 5–7.5% annualised returns while invested, compared to 2–3% in savings accounts.
The process isn’t a direct UPI-to-mutual-fund transaction. Instead, redemptions are credited to your bank account first, ensuring compliance with SEBI’s instant redemption facility (allowed since 2017 for up to ₹50,000/day per AMC). This two-step mechanism, clarified by Curie’s founder, Arindam Ghosh, and NPCI, keeps payments secure and seamless.
Key Features of Curie Money
Curie Money offers a mix of convenience, growth, and safety. Here are its standout features:
- Zero Minimum Balance: No need to maintain a minimum balance, unlike many bank accounts requiring ₹5,000–₹10,000.
- High Returns: Liquid funds yield 5–7.5% annually, significantly higher than savings accounts’ 2–3%.
- Instant UPI Payments: Pay via UPI with funds redeemed in 2–5 seconds, supporting QR codes, UPI IDs, and merchant transactions.
- Daily Spending Limit: Redeem up to ₹50,000 or 90% per AMC daily, with a potential ₹100,000 limit across ICICI Prudential and Bajaj Finserv AMCs.
- Instant Redemption: Access funds instantly up to SEBI’s limit, ideal for urgent needs.
- No New Bank Account: Link your existing bank account, with optimal performance for YES Bank users.
- UPI Lite: Load up to ₹2,000 for PIN-free payments, though this doesn’t earn interest.
- Security: Funds are held in SEBI-regulated mutual funds, and transactions use bank-grade encryption.
- Refund Policy: If a payment fails but money is debited, it’s automatically refunded to your bank account.
- Fund Transfers: Use NEFT, RTGS, or IMPS to move money from Curie Save to other accounts, up to ₹50,000/day per AMC.
These features make Curie a user-friendly alternative to traditional banking, as noted in user reviews praising its “sleek and intuitive” interface.
Benefits of Curie Money
Curie Money addresses the gap between liquidity and returns, offering several advantages:
- Higher Returns: 5–7.5% annualised returns beat savings accounts (2–3%) and some fixed deposits, helping your money outpace inflation (5–6%).
- Tax Efficiency: Only capital gains are taxed under the first-in-first-out (FIFO) system, with no TDS on redemptions (unlike 10% TDS on FD interest). Losses can offset gains or be carried forward for 8 years.
- Instant Liquidity: Redeem up to ₹50,000/day per AMC instantly, offering flexibility not found in fixed deposits with lock-in periods.
- Ease of Use: UPI integration makes payments as simple as any other app, while digital onboarding takes minutes.
- Safety: SEBI-regulated liquid funds and partnerships with trusted AMCs like ICICI Prudential ensure fund security.
- No Minimum Balance: Ideal for users with small or fluctuating balances, removing the stress of penalties.
As Arindam Ghosh, Curie’s co-founder, stated, “We founded Curie Money to solve a deeply personal challenge—making savings work harder without sacrificing liquidity.” This resonates with users who value both growth and accessibility.
Risks and Considerations
Despite its appeal, Curie Money has risks and limitations to consider:
- Market Risk: Liquid funds are low-risk but not risk-free. Returns may vary slightly due to market fluctuations, though they invest in stable assets like government securities and high-rated bonds.
- Regulatory Uncertainty: SEBI permits instant redemptions but hasn’t explicitly approved UPI-linked redemptions. If issues occur, the AMC bears responsibility, not SEBI or NPCI, creating a regulatory grey zone.
- Psychological Hurdle: Mutual funds are often viewed as long-term investments. Receiving SMS/email alerts for each redemption can feel unsettling for some users.
- Payment Delay: Transactions take 2–5 seconds longer than standard UPI due to backend redemptions, which may frustrate users expecting instant payments.
- Limited AMC Partnerships: With only ICICI Prudential and Bajaj Finserv AMCs, the daily redemption cap is ₹100,000 across both. More partnerships could increase limits.
- Costs: The mutual fund has an expense ratio of 0.29% (including GST) and a stamp duty of 0.005% per purchase. Exit loads range from 0.0070% (1 day) to 0.0045% (6 days), with no exit load after 7 days. These are low but add up for frequent redemptions.
- UPI Lite Limitation: The ₹2,000 UPI Lite feature is PIN-free but doesn’t earn interest, reducing its value for growth-focused users.
Users should weigh these factors, especially if they prioritize zero risk or high transaction volumes.
How to Get Started with Curie Money
Setting up Curie Money is quick and easy. Follow these steps:
- Download the App using the link
- Create an Account: Enter your PAN card details, name, email, and link your bank account (YES Bank preferred). No Aadhaar OTP or video KYC is required, and setup takes 3–4 minutes.
- Complete KYC: SEBI mandates KYC for mutual fund investments. Upload address proof (e.g., Aadhaar, voter ID) if needed, and complete the process digitally.
- Add Funds: Transfer money to Curie Save via UPI, net banking, or NEFT/RTGS. Funds are allocated to liquid mutual funds within 1–2 working days.
- Start Spending: Pay via UPI, withdraw funds, or transfer money using NEFT/IMPS/RTGS. Track your balance and returns in the app.
The process is as straightforward as setting up a UPI app, with the added benefit of investment growth, as praised by users for its “user-friendly” design.
Who Should Use Curie Money?
Curie Money suits a variety of users:
- Young Professionals: Looking to earn more on modest savings without lock-in periods.
- Tech-Savvy Savers: Comfortable with UPI and open to fintech innovations.
- Investors Seeking Liquidity: Wanting low-risk investments with instant access.
- Inflation-Conscious Users: Frustrated with savings accounts yielding 2–3% below inflation (5–6%).
It may not be ideal for:
- Risk-Averse Users: Uncomfortable with any market risk, even in low-risk funds.
- Traditional Savers: Preferring the familiarity of savings accounts or fixed deposits.
- High-Volume Spenders: Needing more than ₹100,000/day across AMCs.
Curie Money vs. Traditional Savings Accounts
Here’s how Curie compares to a traditional savings account:
| Feature | Curie Money | Traditional Savings Account |
| Returns | 5–7.5% (liquid funds) | 2–3% |
| Minimum Balance | Zero | ₹5,000–₹10,000 (varies) |
| Liquidity | Instant up to ₹50,000/AMC/day | Instant (full balance) |
| Taxation | Capital gains (FIFO), no TDS | Interest taxed, 10% TDS |
| UPI Payments | Yes, via redemption to the bank | Yes, direct |
| Risk | Low (market fluctuations) | None (RBI protection) |
| Regulation | SEBI (mutual funds) | RBI (banks) |
Curie’s higher returns and flexibility are compelling, but the slight market risk and redemption cap are trade-offs.
Future Potential and Challenges
Curie Money’s vision—to make mutual funds a spendable wallet—is ambitious, but scaling faces challenges:
- Regulatory Support: SEBI’s ₹50,000/AMC/day cap limits transaction volumes. Experts suggest raising it to ₹5 lakh to compete with savings accounts.
- More AMC Partnerships: Expanding beyond ICICI Prudential and Bajaj Finserv would increase redemption limits and user options.
- User Mindset: Convincing users to see mutual funds as “spendable cash” is tough, given their long-term investment perception.
- Technical Enhancements: Reducing the 2–5 second payment delay and minimizing AMC alerts could improve the user experience.
If SEBI extends instant redemptions to money market or arbitrage funds with equity-like tax benefits, Curie’s appeal could skyrocket. With ₹84 trillion in savings accounts, a small shift to mutual funds could reshape India’s retail investing landscape. Curie’s recent NPCI approval as a third-party UPI provider and $1.2 million funding signal strong growth potential.
Conclusion
Curie Money is a promising fintech app that redefines savings by integrating UPI payments with liquid mutual funds. Offering 5–7.5% returns, zero minimum balance, and instant liquidity up to ₹50,000/day per AMC, it’s a strong alternative to savings accounts yielding 2–3%. Partnerships with ICICI Prudential AMC, Bajaj Finserv AMC, and YES Bank, plus SEBI-regulated funds and bank-grade security, ensure trust and safety.
However, challenges like low market risk, a regulatory grey zone, and a ₹100,000/day limit across AMCs may deter some users. For those seeking higher returns without sacrificing convenience, Curie is a promising choice, as user reviews highlight its “game-changing” ability to grow money while spending.
Ready to try it? Download the Curie app, link your bank account, and start investing in 3–4 minutes.
