Just realised. If you can provide investment services into the portal, won’t it be great to club or merge that with pot goals. That way u can can provide a sphere where youngsters can actually start investing something as per their convenience. It also starts as a small step towards habit of investment. Otherwise pots is just money in your own bank account that you just can’t see.
Pots concept should be dropped and replaced with MFs, period.
Even if you need POTs, it should fetch more than savings account interest. Should be linked with FD or Debt Funds or provide us choice to even select Equity fund as target pot. There are FDs in the market with 7.5% interest and with instant withdrawal facility, IND Money.
Fi can do all this being with same banking partner, Federal Bank. Jupiter is on complete loot mode with POTs
Fi is much better in this with their Savings, MF rules based investment concept.
The only plus with Jupiter is UI and Customer support
The day, Fi improves their customer service… Jupiter will have very tough time keeping customers.
And I dont see Jupiter coming even closer to FI in rule based saving , investaments in next 2 years. They are on a different path with their product development. Sad but true.
Don’t need to essentially ditch the idea of pots completely, they can tweak it to make it their USP, the concept is quite noble, its just ineffective as for now.
As for as MF, yes it is in its natal stage right now and has a lot of potential to keep improving.
As far as peer to peer lending is concerned, it is a whole another can of worms, as Fi is specific to salaried individuals only ( which lowers the default risk) whereas anyone with an invite link can open a Jupiter account.
Just being the devil’s advocate here
You got the last point slightly wrong. Peer to peer landing of Fi is not tied to its own salaried account holders. Fi account holder are not landing money to each other here. Liquiloans is the partner here which lands money to its customers.
Though that wasn’t my point here. It was just an example of services other Neo banks offering.
Yeah, POTs can stay but again they are nowhere near to Fi Jars which are fetching way more interest than POTs.
Fi Rules is the games changer. Removes or reduces manual savings/investments which builds habits to save more.
User should have choice to build his POt with FD / MF.
Okay. I thought it was like cred, where p2p is between account holders with a nbfc (like as you mentioned liquiloans) as an intermediary.