Are you using pots ?if yes how is it benfiting you?
@mohnishom me have 2 pots…for savings…thats all the benefits are…they might give interests too…dunno yet how much…
Yes… they will give interest… at same rate as saving account… ie. 2.5%
@Dhruv did ya get it…also…monthly or quarterly…
2.5% should be yearly as it is for savings.
Yess… recieved last month.
It will be quarterly at rate of 2.5% per year.
So 10k pots savings mei how much will me get…at 2.5 roi
If you put 10k, quarterly at 2.5% interest would be like 125INR, the interest rates are very low comparatively to other banks, but the feature of parking funds in a separate account as pots is quite good.
It should be 250 INR isn’t? An quarterly payout should be 62.50 INR.
Me confused guysss…kya sab bol rahe ho…bhaiii loggg
Let me explain…
Suppose you put 10k in Jupiter pot for 1 year, then interest earned for whole year is ₹ 250 (2.5% of 10,000)
But this interest is paid quarterly by Jupiter. So after every 3 months (12/4), ₹62.5 (250/4) interest will be given by Jupiter.
Yeahh you’re absolutely right, sorry my bad, i had it calculated for 6 months
I create pots for my parent’s Health Insurance renewal, Gym membership fees. To avoid the hassle of sudden heavy expenditure
I love the simplicity of pots. I get to park chump change, with no frills and have the option to withdraw them as I please.
I haven’t withdrawn or deleted any of my pots so far, but I appreciate the choice I’ve been given. Love Pots!!!