GroovyBoba
GroovyBoba

Jupiter app

Has anyone used Jupiter app, and got some benefit out of it? Their app screenshots on Play store are not at all clear, why should I join it?

17mo ago
App Promo
WigglyNarwhal
WigglyNarwhal

i was forced to create an account of Jupiter because my company had some kind of partnership.
so I do have an account but I don't use it much. if you have any specific questions I could check and answer them

GroovyBoba
GroovyBoba

does it add any value?

WigglyNarwhal
WigglyNarwhal

not really. i end up moving the funds to my traditional account periodically anyway.
i guess there are a few features like buying gold and creating FDs if you're into that

SleepyBoba
SleepyBoba

It's a Neobank like Fi Money. They are partnered with federal Bank.
They don't have branches like normal banks do which is their main selling point i.e. no physical documentation or branch visits required. They offer services like normal banks including FD, credit cards, UPI.

The difference between a traditional bank and these Neobank is that they are basically a fintech and not a bank, so they iterate rather quickly and make products / features that could be hit or miss like buying virtual gold, mutual fund analysis, spending analysis, saving pots, transaction tagging, CIBIL analysis and next up could be features making use of Account aggregator framework and / or ONDC.

But at the end of the day they are still a vc funded fintech and need to make money. So now you have a customer base who uses your services and you know their spending habits and in some cases salary too. You can use this data to target them with personalized loans. So that's another thing they do.

Why should you use a Neobank?
If you love tech and fintech product and (in my usecase) would also love to have a separate bank account that you can use for your daily UPI transaction so it doesn't spoil your original bank account statement.
Other than that don't keep much money into it Source: I have worked in couple of Indian fintechs.

SqueakyNugget
SqueakyNugget
TCS17mo

Why do you randomly want to use an app. Just skip it :/

GroovyBoba
GroovyBoba

yeah, just wanted to explore if I'm missing something

JazzyWalrus
JazzyWalrus

I use Fi Money. I believe it's similar to that. There's nothing new honestly except for the great UX in the app and their fancy looking card. Rewards are useless for most part. It won't make any difference. You're not missing out

BubblyNarwhal
BubblyNarwhal

It’s just a good UI on a federal bank account . Stay away company will shut in sometime

FloatingPickle
FloatingPickle

In use Jupiter just for UPI. Helps me put some distance between my actual bank account and UPI

JumpyBanana
JumpyBanana

Don't use it... I had an account. Got it closed.

WobblyBanana
WobblyBanana

Nope. No real use

GroovyBoba
GroovyBoba

IDK, difficult to justify for a company valued close to $700M

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Jupiter app card- Got this semi transparent card

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Has anyone else got this card and how is the experience?

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Nice, what'd you get as the card number, expiry and cvv? /s

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user

My flatmate who works here says- "Stay away"

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How did Anuj Rathi get duped into joining in the first place? Goes to show that founders are the best at creating hyp...

user

Didn’t Anuj Rathi recently bail from there and move to Cleartrip as their CEO?