Create multiple sub-accounts for investments, expenses and savings

Are there any banks in India currently that allows you to sweep in your monthly income to multiple sub-accounts?

These sub-accounts can be used for:

  1. Saving- One can use this sub-account to automate saving every month.

  2. Monthly Expenses- All expenses such as rent, bills, etc. are paid from this account.

  3. Long term saving for big purchase/vacation etc.- Certain percentage of fixed income goes to this every month.

I currently use multiple bank accounts for this purpose but is a tedious process to switch between different accounts. It’d be cool to have one bank account that allows you to divide your income into multiple sub-accounts.

This can be even automated or for every deposit made to the account, the money can be diverted to sub-accounts with a single click (based on % allocated for each sub-accounts). Tada!

Is there any solution like this that exists?

1 Like

We might address this problem statement in Jupiter account pretty soon

4 Likes

That’d be awesome. I can’t wait for this to launch.

jupiter logo

Built with love in India

India's first co-created digital banking experience

Community

What does co-creation mean at Jupiter?

You can post your Finance Blogs here!

Sign-up for Beta!