How are Pots auto saving if you have to deposit the money yourself?

I thought it’ll be like what spenny and Jar have each time I make a purchase online a fixed amount will automatically deducted from my primary account and will be stored in the pots. What benefit does another bank account serve? If that’s what one wants then there’s always an option to send the desired money in another bank account. Or am I misunderstanding something about pots? @Jiten @Bankofthefuture


Exactly ! I second it … I was under the impression that it would work like “invest the change” concept which Niyo IDFC had where in a certain amount when transacted, it’s change would automatically get deducted and stored as an investment. But here I see another savings account of Federal Bank being opened, I’d like to seek clarity on the same @Jiten @Bankofthefuture .



Well that is also the case if money is invested in mutual funds. I mean you can easily invest money on your own without actually needing any jar or pots.

The objective of pots or jars is inculcating a habit of saving.

Anyway returns on liquid funds are almost at par with saving bank interest rates. Hence it wouldn’t make much difference in terms of interest and the money will be available at your doorstep during any emergency.

For me this is better.

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Even I thought that pots are something like a flexible deposit which can earn a better interest rate than standard federal bank interest rate which is 2.5%. But if 2.5% is the only interest rate on pots and that too is accomplished with another bank account under same id then that doesn’t add a good value to me. Right now even lowest of liquid fund are providing 3.2% which is somewhat better than pots and low risk too. Please don’t take this as an hate or criticism, it’s just an suggestion or feedback that product can be evolved into a better form.


If there was an option to deposit Jewel Rewards directly to Pots that would be cool…
Also, as mentioned above, there need to be some auto-deposit system with rules to do this.

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Any thoughts on this @Jiten @Bankofthefuture ? It seems the trello is outdated and doesn’t have any traction as like this topic.

I think it’d be super cool atleast pour the amounts to different pots automatically based on rules. Like 10k on 1st of a month(should be changable) should be auto poured into 2k in emergency savings, 2k into entertainment, 2k into medical/insurance savings, 2k into a goal etc.

This not only create a habit of saving but to give the feel of responsibility towards a variety of savings. Isn’t that the whole significance of Pots ?

@thuruv Will be updating the Trello board soon. We’ve been taking feedback and analysing it from different threads. Will put it up there :grin:

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