I’ve been a big fan of Jupiter’s Super Pots lately, but I’ve noticed that the maturity amount is displayed incorrectly.
For example:
I have started a Super Pot for Rs.17500 for a year with a monthly habit for Rs.17500.
The interest rate is 6.8%
The maturity amount shown in Jupiter is Rs.216692
But as per Groww’s RD calculator it should be Rs.217855
As per my spreadsheet calculation, the everyday interest should be Rs.3.26 and the maturity amount should be Rs.217753
That a considerable difference of Rs.1163.
I have attached a picture of the Jupiter Super Pot page and RD calculation from Groww.
It is to be noted that the actual amount of Rs.3.26 is credited correctly everyday. So there is no problem in the actual interest amount added to my Super Pots. The issue is with the Maturity Amount displayed on Jupiter.
@Shawnpinto Can you look into this? I have already sent an email to support@jupiter.money on 13 Aug 2023.
Hey @alexnazy - This is Samarth here, from Pots and Superpots product team. Thanks for reaching out. The interest earning structure for Superpots (which is a Flexi RD) on Jupiter is slightly different from that shown by Groww’s RD calculator.
Interest earned on each of your deposit transaction is different based on that individual transaction’s saving period. For example, for your 1 year superpot, a monthly habit in the 9th month, will get you an interest for 3 months (4.75%; 3 months is the saving period for that particular txn) where as your first monthly habit txn will earn entire 12 month’s interest and so on (as shown in the image attached). In groww calculator’s case, interest % is 6.8% for all durations.
I’m facing an issue with the super pot actually today I have destroyed my pot and the money is not transferred to the savings account yet and I’m totally tensed wr did my money vanish and. Please let me know how it can be refunded to my account.
May be that’s some temporary technical issue. The amount may be credited soon.
I suggest to use the chat option on the app for a quicker response. Also, you can mail this issue to support@jupiter.money to create a support ticket.
Actually Im unable to complete my KYC PROCESS AS THERE IS ERROR POPPING UP FROM THE DAY I STARTED USING THE APPLICATION. PLEASE HELP TO COMPLETE THAT FIRST.
Please help to complete the KYC process as im unable to do that from the day i started using the application as it’s an error popping up to try after some times.
