This post will discuss in great detail regarding the Jupiter Bank Savings Account, Jupiter Card, Jupiter Salary Account, Jupiter Bank Customer Care Number, Jupiter Bank Interest Rate, etc.

What is Jupiter Account or Jupiter Bank

Jupiter Bank is one of the most famous Neo Banks in the country which provides banking services to its customers through its mobile app, Jupiter Money.

Jupiter money is a digital saving account powered by Federal Bank, an RBI-registered bank. You can open Jupiter Digital Savings Account with zero balance and can earn 6% interest on your savings.

When you open a digital savings account in the Jupiter app, you actually open a savings account with the Federal Bank. All your savings with Jupiter Bank are in the safe hands of Federal Bank.

More attraction goes towards Jupiter bank or Jupiter money when it comes to transferring money because it provides 1% cash back on each UPI and debit card transaction.

The more we talk about Jupiter, the more features of Jupiter money will come out like it provides digital pots in which money is saved automatically for your life goals, it also provides a monthly breakdown of your total spending in a month, etc.

If you are thinking about the safety of your money deposited in Jupiter bank then I have already told you that Jupiter money is powered by Federal Bank, an RBI-registered bank. As per Deposit Insurance and Credit Guarantee Corporation (DICGC) rules, each depositor in a bank is insured for up to Rs.5 lakhs.

Highlights of Jupiter Digital Account

Here are some valuable inputs about Jupiter Digital Savings Account that you should keep an eye on them.

More Information About Jupiter

Jupiter Account Benefits:

From digital onboarding to earning rewards, Jupiter Bank provides various benefits to its customers. Here is a detailed list of benefits that a Jupiter customer enjoys.

• Digital Process: Jupiter provides a 100% digital process from onboarding to transferring your money.
• Interest Rate: Inflation-beating returns are provided by Jupiter Money. It provides up to 6% interest per annum on your savings.
• Earn Rewards: You earn 1% cash back on Jupiter bank debit card and UPI transactions.
• Safety of your Money:  Every depositor in a bank is insured up to Rs. 5 lakhs under the regulations of the Deposit Insurance and Credit Guarantee Corporation (DICGC).
• Zero Balance Account: No minimum balance is required to open a saving account in Jupiter Money.
• ATM Withdrawal: You can withdraw money free of cost using Federal Bank ATMs.
• No Hidden Fees: Jupiter doesn’t charge any hidden fees from its customers.
• Digital Pot: Jupiter offers its users digital pots, which they can use to automatically save money for their goals in life.
• Portfolio Analyser: With Jupiter portfolio analyser, you can see your mutual funds’ performance.
• Customer Care: Dedicated customer support is available all over the day to solve all your problems from helping open a savings account online to Jupiter card loss.
• Senior Citizens: Senior citizens get an additional rate of interest on their deposits as compared to the general public.

Eligibility for Saving Account in Jupiter

You should fulfill the minimum eligibility criteria to open a savings account through the Jupiter App.

• Trust: Any person with a satisfactory account with another bank can apply for the Jupiter Savings Account.
• Nationality: Indian nationals are allowed to open a savings account in Jupiter Bank.
• Age: You should be above 18 years of age.
• Employment Type: Salaried/ Self-employed/ Business/ Housewife/ Retired/ Students can apply for Jupiter Savings Account.

An account in the name of the minor or any joint account is not eligible for Jupiter Saving Account.

Documents Required for Jupiter Account Opening

You should require the following documents to open a savings account with Jupiter Money.

• Pan Card
• Aadhar Card
• Aadhar-linked mobile number
• Selfie during the KYC verification
• Driving license
• Voters Identity Card

Jupiter Bank Interest Rate

Let’s see Jupiter Bank Interest rate for a Saving Account in brief w.e.f January 23, 2023.

Let’s see the Jupiter Interest rate for savings accounts in a detailed view w.e.f January 23, 2023.

Jupiter Bank Charges

See the below tables for Jupiter fees and charges.

Digital Payments and Transactions Charges

Branch Transactions and Other Charges

Jupiter Bank Review

Tatsat: Onboarding is super smooth. Video KYC is also quick and hassle free. App is super smooth and very friendly, unlike traditional banking mobile apps like Canara Bank and such. Pots are a good way to save for a goal. And it does a good job of showing total networth by calculating total wealth in all bank accounts, which is super handy for people having 3-4 bank accounts. Kudos to the UI team of the app. You guys have restored my faith in banking infrastructure.

Apoorava: Excellent app, sometimes says “oh snap” even when other UPI apps are working perfectly fine. Else, truly a great money monitoring/saving app. Edit: App has been buggy since two weeks now. Very slow loading time (if it manages to start up at all). Are the updates really an improvement?

Jupiter Bank Account Opening Online Process

Step1: Download the “Jupiter: Digital Bank Account” app from Google Play Store.

Step2: Click on start option and allow some permissions.

Step3: Enter your mobile number and click on verify button.

Step4: If you don’t have an invite link, please click on “Request Invite” Button.

Step5: Now click on continue button and then Jupiter will automatically verify your numbers by sending a text message on your smartphone.

Step6: Now allow some permission and then click on continue button.

Step7: Enter your PAN Card Number and verify it.

Step8: Enter your Aadhar Number and click on “Perform e-KYC” button.

Step9: Enter the OTP you received on your mobile number linked to your Aadhar and click on “proceed with e-KYC” button.

Step10: Now, Enter or select your address from the below options.

Step11: Verify your Identity by taking a selfie or video verification.

Step12: Now, Add nominee details and then verify your personal details in the next step.

Step13: Create your M-PIN and then verify it.

Now your Jupiter Account is ready to use.

How to Close Jupiter Bank Account

You can close your Jupiter Bank Account by the following 2 methods.

Method 1: By Contacting Federal Bank Customer Care

When you open a saving account in Jupiter, you actually open a zero-balance saving account with Federal Bank.

So you can write a letter to Federal Bank for the termination of your saving account.

Method 2: By Contacting Jupiter Bank Customer Care

You can contact the Jupiter customer care and say them to close your Jupiter Account.

They will help you to close your Jupiter money account.

Jupiter Bank Customer Care Number

1. For Jupiter’s Customers

If you are a customer of Jupiter then you can contact Jupiter Customer Care from 9 A.M to 9 P.M a day except for public holidays. The best way to contact them is through their official mobile app which is Jupiter Money.

Customer-related queries will be solved by the following two methods.

• Jupiter Account Customer Care Number: 086 550 550 86
• Jupiter Money Email ID: support@jupiter.money

2. For Jupiter’s Non-Customers

If you want to partner with Jupiter or have some media inquiries, kindly contact the email id mentioned below.

• Jupiter Money Email Id: contact@jupiter.money

3. For Early Adopters

If you have a question or want to arrange a meeting with Jupiter, use the email address listed below.

• Jupiter Money Email Id: community@jupiter.money

4. Federal Bank Customer Care Number

when you open a saving account in Jupiter, You actually open a zero-balance saving account with Federal Bank, an RBI-regulated bank.

So, you should also know Jupiter Federal Bank Customer Care Number.

• Federal Bank Customer Care Number: 1800 425 1199
• Federal Bank Customer Care: 1800 420 1199
• Federal Bank Email Id: contact@federalbank.co.in

5. For Mutual Fund Consultation

If you want some valuable inputs from Jupiter on your Mutual Fund Investment, you can email them at investments@jupiter.money.

Jupiter Bank Grievance Redressal Mechanism

Customers can escalate their complaints to Jupiter Customer Care at various levels if they have any questions or concerns about Jupiter Bank. For the purpose of resolving complaints, Jupiter provides its customers with 3 Levels of grievance redressal mechanisms.

Grievance Redressal at Level 1

If customers have any problem with Jupiter services, they can contact Jupiter Customer Care through its Official App, Jupiter Federal Bank Customer Care Number, and Email Id, or can write a letter.

1. Official App: Click Here to Download Jupiter App
2. Jupiter Customer Care Number: 086 550 550 86
   You can contact Jupiter Helpline Number from 9 am to 9 pm except on public holidays.
3. Jupiter Email Id: support@jupiter.money
4. Address: You can write a letter to Jupiter Customer Care through the address mentioned below.

   Customer Service Department

   Amica Financial Technologies Private Limited
   Address: 2nd  floor, Hello World Building,
   5th Main, Sector 7, HSR Layout, Bengaluru,
   Karnataka 560102

Grievance Redressal at Level 2

Customers may file a complaint at level 2 if they are unsatisfied with the response provided at Level 1 or if they don’t receive a reply within 10 working days after the submission of the complaint.

You can send a letter to Jupiter’s Grievance Officer at the following address.

Rajesh Singh
Grievance Redressal Officer (GRO)
Amica Financial Technologies Private Limited

Address: 2nd floor, Hello World Building,
5th Main, Sector 7, HSR Layout, Bengaluru,
Karnataka 560102

Email: grievance@jupiter.money

Grievance Redressal at Level 3

Customers may file a complaint at level 3 if they are not satisfied with the response provided at Level 2 or if they don’t receive a reply within 14 working days after the submission of the complaint.

You can send a letter to Jupiter’s Noda Officer at the following address.

Nikhil Godbole
Nodal Officer
Amica Financial Technologies Private Limited

Address: 2nd floor, Hello World Building,
5th Main, Sector 7, HSR Layout, Bengaluru,
Karnataka 560102

Email: nodalofficer@jupiter.money

Customers may file a complaint to the RBI Ombudsman if they are not satisfied with the response provided at Level 3 or if they don’t receive a reply within 1 month after the submission of the complaint.

You can send a letter to RBI Ombudsman at the following address.

C/o Reserve Bank of India RBI
Byculla Office Building
Opp. Mumbai Central Railway Station
Byculla, Mumbai-400 008

Telephone No: 022 2300 1280
Fax No: 022 2302 2024

Jupiter Salary Account

What is a Salary Account?: A salary Account is a unique savings account that is only available to salaried individuals. Salary Account offers specific perks like health insurance coverage, unlimited transactions, and an auto sweep.

Benefits of Jupiter Salary Account

Jupiter distinguishes itself from other salary accounts by providing its salaried clients with a wide range of benefits.

• One Demand Salary: you can withdraw a pre-decided part of your salary before it credits to your bank account without any interest charges.
• Insurance: With Jupiter Salary Account, customers get health insurance coverage of Rs.2 lakh which can be extended up to Rs.20 lakh.
• Zero Balance Account: You can open a Jupiter Salary Account with zero balance.
• No Hidden Charges: There are no hidden charges in the Jupiter Salary Account.
• Reward Earner: Every Rupee you spend using your Jupiter debit card or UPI earns you 1% in rewards points.
• Zero Forex Fee: No fee will be charged for any international ATM transaction.

Jupiter Salary Account Eligibility

Customers should follow minimum eligibility criteria for opening a salary account in Jupiter.

• Salary: Customers who want to open a salary account in Jupiter Money should have a monthly in-hand income of Rs.20,000.
• KYC: Full KYC is mandatory for opening a salaried account in Jupiter.

Documents Required for Jupiter Salary Account

• Aadhar Card
• PAN Card
• Aadhar-linked Mobile Number

How to Open Jupiter Salary Account

If you have a Jupiter Savings Account, you can easily upgrade it to a salaried account.

I have provided a completed step-by-step process to open a Jupiter savings account in one of the above paragraphs. You can learn from there.

After opening a savings account in Jupiter, you have to go to settings, where you have to follow 3 simple steps to upgrade it to a salaried account from a savings account.

Compare Jupiter Salary Account with Other Bank’s Salary Account

Jupiter On Demand Salary

By using Jupiter ODS (On Demand Salary) facility, you can withdraw a pre-decided part of your salary before it credits to your bank account.

• The ODS facility of Jupiter can be availed only once between the 10th and 28th.
• The ODS amount should be repayable on the 5th day of the subsequent month.
• A processing fee will be charged by the corresponding bank.

Jupiter Card or Jupiter Debit Card

Jupiter Debit Card or you can say it Jupiter Card, comes with some unique features that make it very cool. It comes with Sleep and Freeze options, preventing the card from using any ATM or online transactions.

A Jupiter Debit Card in digital form, available through the Jupiter Mobile App, is provided when you open a savings account with Jupiter. By ordering it, you can get it in actual or physical form. Jupiter provides a lifetime free debit card to its customers.

When customers order a physical Jupiter Debit Card or Jupiter Card, they must pay an issuance fee of Rs.299; however, the card is sent to you within 15 working days.

Whenever you make a purchase with your Jupiter Debit Card or Jupiter Card, you receive 1% cash back on each transaction. If you use a Federal Bank ATM, there are no annual charges associated with it.

Jupiter Card Charges and ATM Charges

Jupiter Actionable Insights

By using these features of Jupiter Bank, you can see valuable insights like a breakdown of your monthly spending, your mutual fund performance, the total net worth in all your savings accounts, and digital pots for your life goals.

1. Monthly Spend Breakdown

You can monitor your monthly spending across all categories using this feature of the Jupiter App.

2. Mutual Fund Performance

You can see the performance of your mutual funds with the help of Jupiter’s Portfolio Analyser. It provides actionable insights about your mutual fund’s performance, history, and many more.

3. Net Worth

With the help of Net Worth features, all your savings accounts are shown in a single app and you can also see the total balance in all your savings account.

4. Digital Pots

Jupiter offers its users digital pots, which they can use to automatically save money for their life goals.

For example, if you want to purchase an iPhone and save for that then you can easily do it with the help of Jupiter’s Digital Pot.

With a Jupiter Digital Pot, you may set up automatic savings of a predetermined amount. Once you’ve met your target saving, you can withdraw the funds and purchase your lovely device.

Conclusion

Jupite Bank provides first-class interest rates to its customer i.e up to 6% and offers additional benefits like a free debit card and no hidden charges.

More features of Jupiter are given below.

• With a zero-balance digital savings account in Jupiter, you can find all your monthly expenses in one place using Jupiter’s EXPENSE TRACKER.
• You can see your savings in one place by linking all bank accounts with Jupiter.
• You can also track your Mutual Funds with Jupiter Portfolio Analyser.

If you like these features, you should go with Jupiter.

Jupiter Money FAQs

Q: What is Jupiter money?

Ans: Jupiter money is a digital banking startup that offers services like digital savings accounts, and real-time money management.

One of the most well-known Neo banks in the nation, it gives its clients access to financial services like savings accounts, FDs, and debit cards without the bother of visiting bank branches.

Q: Who owns Jupiter money? 

Ans: Jitender Gupta is the founder and CEO of Jupiter Money.

Q: Is Jupiter bank safe? 

Ans: Yes, Jupiter bank is safe and secure because it is powered by Federal Bank which is an RBI-regulated bank.

In reality, when you create a savings account at Jupiter Bank, you’re opening one with the Federal Bank. That’s why all your savings are with the Federal Bank which is amongst the top Indian Banks at present.

According to the Deposit Insurance and Credit Guarantee Corporation (DICGC) rules, each depositor in a bank is insured for up to Rs.5 lakhs.

Q: How do I withdraw money from my Jupiter account?

Ans: You can withdraw money from your Jupiter account by using a Jupiter Debit Card/Jupiter Card.

Jupiter Card can be used at any nearest Federal Bank ATMs to withdraw your money. This is the easiest way to withdraw money from the Jupiter account.

Q: Is Jupiter a Zero balance account?

Ans: It is possible to start Jupiter savings account with no balance. To start a savings account with Jupiter Money or Jupiter Bank, you do not need to deposit any money. You don’t need to go to any branches to open an account because the entire account opening process is online.

Q: How does Jupiter money make money?

Ans: Jupiter Money is an online lender which provides banking facilities to its customers. There are various sources of earning for Jupiter Bank like commissions, charges, fees, etc.

It also provides loans to its customers which is also an income source for the company.

Q: Is Jupiter bank RBI approved?

Ans: Jupiter bank is powered by the Federal Bank which is an RBI-registered bank, so you don’t need to panic about the safety of the bank, all your money is deposited in the safe hands of the Federal Bank through Jupiter Bank or Jupiter Money.

Q: What is the minimum balance in Jupiter account?

Ans: There is no minimum balance required for the Jupiter Account.

Q: How does Jupiter Portfolio Analyser work?

Ans: When you share your mutual fund statement with Jupiter Money, they analyze it and send it back to you with some modifications. Thus you can find better investment options.

You just need to send your mutual fund statement to Jupiter Money Email i.e investments@jupiter.money.

Q: What is On Demand salary in Jupiter Bank?

Ans: Using the On-demand salary feature of Jupiter Bank, customers can withdraw a part of their monthly salary prior to it being credited to their Jupiter salary account.

Q: Is Jupiter debit card free?

Ans: Yes, Jupiter provides a free debit card to its customers when they open a savings account.

Q: What is Jupiter card?

Ans: Jupiter card is a debit card that is provided to customers after opening a savings account with Jupiter.
It comes with some unique features like the Sleep and Freeze option that controls the usage of this debit card.

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.