We had a wonderful session on why people have opened a bank account in the past and their usage. Here’s what they had to say: Users opened the accounts for a variety of reasons including:
- Salary account
- Rewards and perks
- Higher interest rate
But we guess the greater question that came out of this was, how does one use multiple accounts? One of our users was kind enough to lay it out for us:
- Salary account - receive salary and budget the following accounts
- Family expenses- including joint account with wife for family-related expenses
- For home loan- where EMIs get deduced
- Investment account- for all investments
A huge takeaway from this session was that people care about rewards, and ease of use while opening a new account (as spotted by a VC in the room, yes our community has a diverse set of users 
). Another user also found it insightful to understand how people use their primary and secondary accounts. But what’s missing in the current system?
Reward points on UPI Transactions, some users said.
Why would people open a bank account in Jupiter you ask? Let’s find out via a poll here, select top 3 reasons for opening a bank account on Jupiter out of the options:
- ui / ux
- no spam
- complete digital experience no branch visits
- better customer support
- higher interest rate
- analytics on spends
- budgeting tool
- cashback on UPI transaction
- cashback on every card spends
- other rewards like lounge access, exclusive discounts
0 voters
in India