Targeted at today's youth – mainly Gen Z and millennials – Jupiter Money is a neobank for people who want to simplify managing their money.
But what is a neobank? It's a digital bank that does not hold a physical presence, and everything from opening an account and managing it to verifying your details is done online.
About Jupiter Money
Based in Mumbai, Maharashtra, Jupiter is a digital banking company or a neobank allowing young India to manage their money easily. Working on the model of one app for everything money-related, this neobank offers its end users a range of digital banking services to allow them open and manage a bank account within the comfort of their homes. They also provide unique features such as real-time breakdowns of your spending with accurate insights, wealth tracking, and saving pots for people who want to save for a specific occasion or a purchase.
What makes them different from other banks is that they don't have any hidden fees. So, manage your money the way you want with complete transparency and no required minimum amount for maintenance.
Their Start-up Story
The founder of Jupiter, Jitendra Gupta, had worked as a Managing Director for PayU and did an entrepreneurial stint with Lazypay before he began his second phase of entrepreneurship with Jupiter Money in August 2019. His professional background revolves around finance and banking, and with this expertise, he decided to revolutionise the traditional banking system by providing Indians with mobile-first experience managing money.
With Jupiter, his dream to establish a bright, easy, and cost-effective digital banking space in India, targeting the younger generations, has come true. This finance app was created to give the consumer a highly contextual and personalised financial goal model. Everyone is different and has distinct monetary needs, so using the traditional one-size-fits-all model is not ideal. This is what Jupiter wants to aim at – allow people to enjoy financial freedom with ease and on their terms.
They're closer to their aim with their Pro Salary Account for salaried employees.
Attractive Features of Jupiter's Pro Salary Account
A salary account is a type of bank account designed for employees to receive their salary or other income. The employer usually opens it on behalf of the employee, but you can open one on your own for yourself. Here's how Jupiter Money's Pro Salary Account is different than the traditional salary accounts and take a look at their salary account benefits:
1. Easy Advance Salary
Your monthly salary may not be enough to suffice a few needs. That's when advance salary comes in handy, and applying for one with Jupiter Money's Pro Salary Account is easier than ever!
Simply download the app and apply for your advance salary. Your request will be processed, and the amount will be added to your bank account within three minutes if you're eligible. The amount you get is then cut from your next month's salary. No interest is charged if you return the amount within one month. However, you get the flexibility to payback even in three or six months with interest rates as low as 1.5%.
2. Free Health Insurance
Claim your free health cover of ₹2 Lac or get an extended health coverage of₹20 Lac with Jupiter's Pro Salary Account. Free your mind from the hassles of carrying expensive medical expenses as Jupiter has partnered with some leading health insurance providers to get you cashless coverage at more than 5000 network hospitals.
3. Hassle-Free Accidental Insurance
Jupiter's Pro Salary Account covers accident insurance hassle-free by tying up with the leading accident insurance providers. So, stay free from worries and claim up to ₹5 Lac in case of an accident to avoid the hefty prices.
4. More Rewards on Your Spends
Whether a debit card purchase or a UPI payment, earning rewards on your spending is now more profitable with a salary account. Get 1% rewards that never expire! For debit card rewards, get 1% on all your spending, while with UPI purchases, earn 1% rewards on selected spends.
5. Zero Forex Fee
Dealing in foreign currency is now free of charge because, with this account, you will pay only for the charges you see. So, say goodbye to the extra 3.5% forex charges on your next foreign non-ATM-based transaction!
6. Zero Balance Account
Ditch the hidden fees, maintenance charges, and the hassles of maintaining a minimum balance on your salary account with Jupiter's zero balance account. This means that you don't have to worry about any miscellaneous charges the next time you sit down to access your payment history for your salary account, as there are no requirements to keep a set amount in the account.
Conclusion
Jupiter Money is something everyone wants in today's fast-paced, technology-driven world. A zero-balance account with a complete digital opening and managing process and no hidden fees and overdrafts, their millennial-centric approach makes managing financial wellness easy.
