Hello everyone. I have opened my Jupiter money account yesterday, and now i am really confused about when my AMC will be taken. The website clearly says that “There is no annual fee for the first year and is applicable from 2nd year onwards.” however, when i contacted Jupiter support through in app chat, they said the charge will be deducted on july 2024. Am i missing something here?
Exactly one year after you Joined Jupiter.
So if you joined in July, next AMC will be deducted in July 2024 if you don’t get the waiver.
Then why does it mention two years in the website? that sounds intentionally misleading.
I think you misunderstood the T&c. As per the website, it states, ‘There is no annual fee for the first year, and it becomes applicable from the second year onwards.’ This indicates that the annual fee will be charged starting from the second year.
Aha, that makes sense. I understood that as the AMC will be deducted after the use of the debit card for an year, i.e in 2025. Thanks for clearing up my confusion.