INDCoins: How it works
Last updated: 15 Jan, 2021 | 07:39 am
INDcoins is INDmoney's revolutionary rewards program that awards users for good financial behaviour. As a starting point, you need to have a minimum Credit Score of 650 and you need to verify your account on INDmoney to be able to earn INDcoins.
For example, you will earn INDcoins for tracking your investments and expenses, loans; and when your Credit Score improves. This is to encourage you and your family to have a 'Good' financial life.
INDCoins can be used for getting virtual holdings of TechStars.
TechStars virtual holdings will be allocated during market hours. For this, 10 INDcoins=Re 1. You must have a minimum Credit Score of 650 and you need to verify your account on INDmoney to be able to buy/sell TechStars. Please read important eligibility criteria below.
You need to sell your virtual holdings to be able to redeem your INDcoins on TechStars. You can choose to sell your virtual holdings and
- Transfer them to a friend. When a friend claims your virtual holdings, you will receive real cash in your savings a/c; OR
- Credit the real monetary value of the INDcoins to your bank account
The friend must meet the following conditions to be eligible to claim your virtual holdings:
- They must have a 650+ credit score; AND
- They must have a verified profile on INDmoney; AND
- They must be new to INDmoney
Read the detailed FAQ on TechStars and INDcoins. FAQ on INDcoins