(Poll of the week 📊) How do you use Pots?

Research centre
27

If the goal is long term and the time is needed to save that amount, it can be a super pot.

1 Like
28

Yeah, probably during the payment gateway, we get prompted to select a pod of choice, depending on the merchant’s identity and services.

1 Like
29

Initially, the Pots feature was used as a savings method.
We would create them for goal-based savings.

Eg: You wanted to go on a trip with X amount. Created a pot for it so you can deposit funds into it till you reach the goal. (You either break/fund more at this point)

There was no intention to make pots as a payment method.

Think of it as a Piggy bank with any label you’d want.

3 Likes
30

@Shawnpinto add me in credit card beta testing

31

Suggestion on Fixed Deposit Options – Need for Broader Choices

While Fixed Deposits (FDs) remain a safer investment choice, I feel there’s a gap in offerings on some platforms.

For example, Jupiter app currently offers FD options only through Federal Bank, since it is their direct banking partner. However, Federal Bank’s FD returns are relatively lower compared to what’s available through other financial platforms.

Apps like Mobikwik and others now provide access to multiple FD options from institutions such as Shriram Finance, Bajaj Finance, and various Small Finance Banks, many of which offer higher interest rates and even Tax Saving FDs.

The aim of this suggestion is not to question the credibility of Jupiter or Federal Bank, but to recommend that platforms like Jupiter consider offering diverse FD categories — including high-return and tax-saving options — so users can choose based on actual returns and goals, rather than being limited to a single partner.

Would appreciate hearing if others feel the same or have found alternative solutions.

Thanks.

3 Likes
32

Instead of giving it to Mobikwik, why not lend the money yourself and earn 2-3% extra? They give credit to high-risk borrowers. Banks, on the other hand, lend to comparatively safer customers. Always remember, you have to take more risks to earn more returns.

2 Likes
33

@Siddharth_B_R
Thank you for your previous message. I would like to clarify my suggestion, as I believe there was a misunderstanding.

My recommendation was specifically for exploring Fixed Deposit (FD) options available through financial platforms, using Mobikwik as an example.

Here is the key point I was making:

  1. Platform Role: MobiKwik, and similar apps, act as a digital marketplace or facilitator.

  2. Provider Safety: The FDs listed on their platform are not offered by MobiKwik itself. They are provided by multiple small finance banks and financial institutions.

  3. RBI Regulation: Crucially, most of these institutions are listed and regulated by the Reserve Bank of India (RBI). This regulatory oversight provides a significant layer of safety for the invested capital.

  4. Investor Responsibility: As with any investment, it is the sole responsibility of the investor to check the details of the specific bank or NBFC offering the FD. This includes verifying their RBI registration, credit ratings (if available), and the terms and conditions before investing.

1 Like
34

I don’t think that’s possible because they have partnered with Federal Bank and hence only FDs from that bank can be offered.