Create multiple sub-accounts for investments, expenses and savings

Feedback & Ideas
1

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
2

We might address this problem statement in Jupiter account pretty soon

6 Likes
3

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

4

This would be a good feature for people who care about how money is spent.
I have two accounts with a different bank under same relationship id, this make it easy to have income and expenses account and money transfer between them is free anyway.
One example is i need to check only one account to see my income total, another account for just upi payments to merchants, etc.