Jar App – Daily Savings with Digital Gold

Jar App is a daily savings app that let you invest your money in digital gold.

What is Jar App and How does it Works?

The jar is like a digital piggy bank. Using Jar, You can directly invest in digital gold with an investment of as little as ₹1.

Types of Savings in Jar App

You can invest in digital gold be different methods like One Time Investment, Rounds Offs, and Daily Savings. Let’s have a look.

1. One Time Investment

This feature let you invest in digital gold with a single investment.

2. Rounds – Offs

When we make an online transaction on our smartphone, Jar app detects it from our messages and round it off to nearest 5 or 10.

Please try to understand Round Offs from below two examples:

Example 1 (Round Off Nearest to 5): If you make a transaction of ₹42, Jar app automatically detects it and round it up to the nearest 5 i.e ₹45, then difference of ₹3 (₹45-₹42= ₹3) will be automatically invested in digital gold.

Example 2 (Round Off Nearest to 10): Let’s assume that you make a purchase of ₹47. Jar will detects it automatically and round it up to the nearest ₹10 i.e ₹50, then the difference of ₹3 (₹50-₹47= ₹3) will be debited from your account and invested in digital gold.

3. Daily Savings or Autopay

With the Auto-pay feature in Jar App, you can save a fixed amount from ₹10 to ₹2000. This pre-decided amount is invested in digital gold everyday.

This fixed amount deduct regularly from your payments app like Phonepay, Google Pay, Paytm, etc. after giving Auto-pay consent in your payment app.

Important Information about Jar

Jar App Benefits

• Digital On-Boarding: You just need a smartphone to invest in digital gold. Jar online process helps you invest in digital gold straight from your home.
• No Limitation at Withdrawal: You can withdraw your money anytime. There is no lock-in period in Jar.
• Auto-Save: Jar Auto-save option helps you save daily without any hassle.
• Free Storage: Your digital gold is kept in world-class lockers free of cost for 5 years.
• Start with a Little Amount: You can save as little as ₹1.
• Double Your Savings: Get an exciting chance to double up your savings every day.
• Gold at Your Doorstep: You can get home delivery of your gold, whenever you wish.

Jar App Eligibility

You must fulfill the below eligibility criteria to invest through Jar.

• Indian citizens can invest in digital gold using Jar.
• You should be above 18 years of age.
• You should have an active mobile number to receive OTP.

Documents Required to Open an Account in Jar

No documents will be required for sign-up in Jar. However, You should have the following documents for KYC.

• PAN Card
• Form 60
• Valid Bank Account

KYC is required to receive the physical delivery of gold or the selling of digital gold.

Jar App Customer Care Number

Jar Whatsapp Number: 6366693874

Jar App Email Id: info@changejar.in

Grievance Officer: 

Name: Mr. Pankaj Parihar

Email: grievance-officer@changejar.in

Every grievance is provided with a ticket number which can be used to trace the status of the complaint.

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When you buy digital gold on Jar, You actually buy this yellow metal from Safegold (An organization that allows customers to buy and sell digital gold).

So you should know Safegold customer care also. You can reach Safegold Customer Care in the following ways.

Safegold Customer Care Number: 888 1000 800

Email Id: care@safegold.in

In case you are not satisfied with the above two responses, You can write to Safegold Grievance Officer.

Email: grievanceofficer@safegold.in

Jar App Charges

• Jar offers free storage for up to 5 years after which a nominal fee of 0.3% to 0.4% will be levied for the storage of your gold.
• The jar doesn’t charge any fee during the buy-sell process of digital gold but a 3% GST will be levied on buying and selling of digital gold.
• A nominal fee will be levied as an insurance and locker fee to safely store your gold.

Jar App Review

Khusbu Verma: Jar is an excellent app as it is very handy to use. It is perfect for people like us who wants to save money but is not able to do so. Also good for investment in gold. Overall the app is easy to use and the transitions are smooth.

Ashesh Mandal: Very pathetic customer service! They don’t reply to any query, even any ticket related to a complaint! You will receive a few automated responses from the chatbot.

How to Set up Daily Savings/Autopay in Jar

You can invest the daily amount of ₹10 to ₹2000, which will be deducted daily from your bank account and invested in digital gold.

Follow the below Methods to set up daily savings/auto-pay.

Method No. 1

Step1: Open your Jar App and click on the “Setup Auto-save” card/option on your home screen.

Step2: Choose the “Invest Daily Savings” option to invest daily in digital gold. You can also edit the amount from here, which will be debited from your account daily.

Step3: Choose your UPI App from the given options.

Step4: Click on “Pay and Set Auto-Pay” and then enter your UPI PIN to facilitate the daily withdrawal of money from your bank account.
Step5: Now, You have successfully configured Auto Save.

Method No. 2

If you don’t see the “Setup Auto-Pay” card/option on the home screen of your smartphone, follow the below steps.
Step1: Open your Jar app and click on the Hamburger menu situated at the top left of the screen.

Step2: Click on Settings.

Step3: Choose the daily savings option.

Step4: Choose the “Invest Daily Savings” option to invest daily in digital gold. You can also edit the amount from here, which will be debited from your account daily.

Step5: Choose your UPI App from the given options.

Step6: Click on “Pay and Set Auto-Pay” and then enter your UPI PIN to facilitate the daily withdrawal of money from your bank account.
Step7: Now, You have successfully configured Auto Save.

Withdraw Money from Jar App

In Jar, You are the sole owner of your digital gold. You can buy, and sell digital gold whenever you want.

You can withdraw funds anytime from Jar App by the following steps.

Step1: Open the Jar app and click on the hamburger menu, top left on the mobile screen.

Step2: Click on “Sell Gold”.

#KYC is required to receive the physical delivery of gold or the selling of digital gold.

Step3: Enter the amount of gold you want to sell.

Step4: Enter the UPI Id on which money will be transferred and then click on “Withdraw Cash”.

Now, Money will be transferred to your bank account within 24 hours.

How to Apply for Jar App

Step1: Download Jar from Google Play Store.

Step2: Click on the “Start Now” button.

Step3: Enter your mobile number.

Step4: Enter the OTP, you received on your registered mobile number and click on the “Verify” button.

Step5: Enter your full name.

Step6: Now enter your exact age.

Step7: Tell your gender.

Step8: Allow SMS permission.

Step9: Now you are ready to invest in digital gold.

Conclusion

With an investment of as little as ₹1, you can accumulate a substantial amount of digital gold in the long run and then, this digital gold can be converted into physical gold at a later stage.

Jar’s simple onboarding process makes it easy to invest in digital gold.

Jar FAQs

Who is the owner of Jar app?

The jar was founded in 2021 by Nishay AG and Misbah Ashraf.

What is Safegold and Brinks?

Safegold: When you buy digital gold on Jar, you actually buy this yellow metal from Safegold (An organization that allows customers to buy and sell digital gold).

Brinks: Brinks provides vault services that stores your digital gold.

Why should you buy digital gold instead of physical gold?

Digital gold is much better than physical gold for the following reasons.

• Purity: Digital gold provides 99.95% purity of 24K gold.
• Free Storage: Your digital gold provider offers free-of-cost lockers to store digital gold.
• 24*7 Services: You can buy digital gold anytime, anywhere with a single click on your smartphone.
• Minimum Amount: You can buy digital gold as low as ₹1.

When can I withdraw my savings?

You can withdraw your money after 24 hours of investment.

Is KYC required?

KYC is required to receive the physical delivery of gold or the selling of digital gold.

You should have the following documents for KYC.

• PAN Card
• Form 60
• Valid Bank Account

Can I convert my savings into physical gold?

You can convert your savings into physical gold by taking the physical delivery of your digital gold in Jar app.

Jony Baku

Administrator at Finance Expert | Finance Expert

Hello friends, I am Jony Baku and a resident of Haryana, India. I took my first step into the blogging world in 2019 and since then I have been trying to contribute in this field. I love writing and reading articles, that's why I try hard to write my articles as best as possible.