Learning to use Pots

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…

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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

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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.

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It should be 250 INR isn’t? An quarterly payout should be 62.50 INR.

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Me confused guysss…kya sab bol rahe ho…bhaiii loggg

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Let me explain…

Suppose you put 10k in Jupiter pot for 1 year, then interest earned for whole year is â‚ą 250 (2.5% of 10,000)

But this interest is paid quarterly by Jupiter. So after every 3 months (12/4), â‚ą62.5 (250/4) interest will be given by Jupiter.

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Yeahh you’re absolutely right, sorry my bad, i had it calculated for 6 months :sweat_smile:

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I create pots for my parent’s Health Insurance renewal, Gym membership fees. To avoid the hassle of sudden heavy expenditure

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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I haven’t withdrawn or deleted any of my pots so far, but I appreciate the choice I’ve been given.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!!!

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