Hi,
I've invested some amount in PowerUp Money (MAX Wealth) and I see the following update in the app:
"
In line with RBI guidelines, all repayments will now be processed on a monthly payout schedule.
Due to updated guidelines issued by the Reserve Bank of India (RBI) on August 16, 2024, lump-sum withdrawals are temporarily restricted.
Your investment repayments are linked directly to borrower repayments, which means funds will be credited to you monthly as borrowers repay. We appreciate your patience and assure you that your investment is being managed carefully and transparently.
✅ Your maturity amount will now be disbursed in monthly instalments
✅ No other changes – your principal remains secure, your returns stays the same, and the entire amount will be credited to your bank account
✅ Beginning June 2025, you’ll receive approximately 3–5% of your outstanding principal between the 1st and 5th of each month.
"
What does this mean?
1. Will I lose my principal?
2. Average interest they showed was 10.5%, Would I be still getting that?
I've invested some amount in PowerUp Money (MAX Wealth) and I see the following update in the app:
"
In line with RBI guidelines, all repayments will now be processed on a monthly payout schedule.
Due to updated guidelines issued by the Reserve Bank of India (RBI) on August 16, 2024, lump-sum withdrawals are temporarily restricted.
Your investment repayments are linked directly to borrower repayments, which means funds will be credited to you monthly as borrowers repay. We appreciate your patience and assure you that your investment is being managed carefully and transparently.
✅ Your maturity amount will now be disbursed in monthly instalments
✅ No other changes – your principal remains secure, your returns stays the same, and the entire amount will be credited to your bank account
✅ Beginning June 2025, you’ll receive approximately 3–5% of your outstanding principal between the 1st and 5th of each month.
"
What does this mean?
1. Will I lose my principal?
2. Average interest they showed was 10.5%, Would I be still getting that?
