Hi everyone,
Magic Spends has always done one job well: you spend, a small amount gets invested, and the habit builds without you having to remember anything.
Until now that amount could go into Digital Gold or Mutual Funds. Both move with the market. A lot of you told us the same thing in different ways, that you liked the automation but wanted somewhere predictable for the money to land.
So Recurring Deposit is now a third option. It is rolling out now, and you will need the latest version of the app to see it.
What changes
When a payment qualifies, your chosen amount is deposited into your RD straight away. No batching, no waiting for end of day. The habit is identical, the destination is not. An RD gives you a guaranteed rate and a maturity date you know from the start.
Update first
Head to the Play Store or App Store and update Jupiter to the latest version.
How to set it up
Open Magic Spends, pick Recurring Deposit under “Invest in”, set your per-payment amount, your minimum spend, and your monthly limit. Confirm with your MPIN and you are done.
Things worth knowing
Your per-payment amount decides what you can pick. Under ₹10, RD is the only option. From ₹10 you also get Digital Gold, and from ₹100 you get Mutual Funds as well.
The minimum spend setting means small purchases do not have to trigger an investment. Set it where it suits you.
Your monthly limit can go up to ₹2,00,000.
Each RD runs for a year. At maturity the principal and interest are credited to your savings account.
If you pause Magic Spends, your open RD is not affected. It keeps running and keeps earning.
What we would like to hear
If you have been avoiding Magic Spends because both options were market-linked, we would genuinely like to know whether this changes it for you. And if you set it up, tell us what per-payment amount and minimum spend you picked. That helps us get the defaults right.
Update, give it a go, and tell us how it feels.
jupiter_magic_spends_rd.pdf (727.3 KB)