Linking of Pots to Savings account

Traditional banks provide a feature where we can link our FD to the savings account and whenever there is insufficient balance, the FD would be broken on making a transaction.

For example, we have linked a FD of Rs.30,000/- to the savings account and Savings account has a balance of Rs.7000/-.

Now if I make a transaction of Rs.15,000/-, the insufficient balance of Rs.8,000/- which is not in Savings account will be withdrawn from the linked FD.

In the same way, Jupiter can allow to link their POTS to the Savings account and whenever we are making a bill payment, providing an option to pay bills from the saved POT will make the process smoother.
Because, we create POTS for quarterly/half-yearly/annual payments every month.
And when the due date comes, we have to break the POT manually and make the payments.
Instead if such feature where we can make the payment from POTS is provided, it would be too good.

I know POTS create a Virtual RD with the partner bank and direct payment is not possible.
But you can always route it through Savings account instead of manually going to respective POT and breaking such POT and then make the payment.

Would like to know other members opinion and also the Jupiter team’s view as well if this is possible. @Shawnpinto

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Really? I have never booked a fixed deposit (FD) with a traditional bank before, and I had no idea that this was even an option. Thank you for enlightening me. :smiley:

Btw, the feature request is quite exciting :+1: (means the balance from Pots that attained maturity but not broken manually, am I correct?)

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Is it auto-sweep :thinking:

Yes. Pots shouldn’t be broken manually.
Because, for example we have insurance premium where we pay it annually and we set the every month habit for it.
At the end of the year, pot is broken and we have to create new pot for next year again.
Instead, if there’s an option to continue with the same pot, that would be better and of course, the interest will be paid at the rate selected at the time of creation of the pot itself.

Kind of yes, but a bit different what am suggesting.

hey everyone!

We’re exploring a sweep-like feature in FD but it is still very early stage. We’ll keep you posted when we’ve made more progress on this.


@specter Your Idea is interesting. I was checking if there is a precedent of any bank allowing sweep-in on RDs. I couldn’t find one (Either did not look enough or used the wrong keyword).

Thanks @Aastha .
But am not talking about sweep like feature for FD but for super POTS.
Hope you take a note of this suggestion. Thanks.

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No one provides option to link the RD’s to savings.
If Jupiter considers my suggestion and implements it, they might be the first one to do so. :stuck_out_tongue:

You are making it a habbit to suggest features that break the norm. Like it!!!

Haha, thanks.
Have many more ideas which make the UX better. :stuck_out_tongue:

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Jupiters RD/ super pot is actually a good product. Also it compounds every quarter so effective ARR is about 6.95%.