Summary
Jar app, which is called “India’s digital piggy bank”, is an investment and savings platform that allows users to invest in digital gold. Through this app, you can convert your small savings into digital gold. Here I will give you complete Jar App Review.
Nowadays, the name of Jar App is being heard everywhere. Be it social media, YouTube or Google search, people want to know about this Jar app everywhere. The reason behind this is also clear- this app allows people to save and invest money in a new and unique way.
This app allows to start investing from just ₹10 and helps users to save money automatically on a daily, weekly, and monthly basis. Additionally, Jar app also offers features like personal loans, health insurance, and buying gold jewelry.
The main objective of the Jar app is to give people an opportunity to easily save small amounts and invest them for a better future. This app rounds up the money left on every small purchase and transfers them to a digital savings account.
Apart from this, users also get the option to invest in gold in the Jar app, which is currently becoming very popular. Through this app, you can buy gold even with a very small amount, and that too without any hassle.
Apart from this, the data security features in the Jar app make it even more reliable. All your personal and financial information remains completely safe, so you can use it without any worry.
If we talk about the main features of this app, then you get features like automatic savings, gold investments, and real time balance tracking.
So, if you also want to invest your small savings smartly, then Jar app can be a great option for you. So, if you have not used the Jar app till now, then definitely try it once. In this article I will give you complete Jar App Review, so without wasting time let’s check out.
Note: Investment in digital gold or any other financial instrument involves risks. We advise all users to invest based on their own risk tolerance and financial situation. Our site does not force or mandate any investment decisions. Always conduct thorough research and consult with a financial advisor before making any investment choices.
What is Jar App? Complete information
Now days everyone is looking for different ways to secure their future and save money, Jar App is known as a unique initiative that works to convert small savings into big investments.
Jar App started with a simple but effective idea to convert the remaining money of every small purchase into savings.
For example, if the price of an item is Rs 98.50, then Jar App automatically rounds up that expense to Rs 100 and transfers the remaining Rs 1.50 to your Jar Wallet. Thus, with every purchase you unknowingly save money, which gradually turns into your big investment.
The biggest feature of the Jar app is that it is not limited to just saving money, but it also has the option to invest your saved money in gold. With the help of Jar app, you can buy gold even with small savings, without any large amount.
In this app, all your personal and financial information is provided with utmost security. With this, you can do your financial transactions with peace of mind, as your information remains completely safe.
So, if you have not used this app till now, then download it and give a new turn to your financial journey. The Jar app has the potential to turn your small steps into big results.
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Jar App Review
| Aspect | Details |
|---|---|
| App Name | Jar |
| Description | Digital gold savings and investment app. |
| Ratings | 4.4 stars (7.38 lakh reviews) |
| Downloads | 1 crore+ |
| Features | – Invest in digital gold – Automatic savings – Personal loans up to ₹5 lakh – Affordable health insurance |
| Charges | – 3% GST on transactions – 2%-3% buy-sell spread |
| Security | Data encryption – Options for data deletion |
Key Features of Jar App
1. Automatic Savings: Smart Way to Save
The most unique feature of Jar App is Automatic Savings, which transfers the remaining money after every small purchase directly to your digital savings account. For example, if you buy an item for ₹92.50, this app rounds up the remaining ₹7.50 and saves it. In this way, without any special effort, your small savings turn into a big amount.
2. Gold Investments: Small Steps, Big Investments
The gold investment feature of the Jar app is for those who want to invest in gold through small investments. With the help of this app, you can buy gold even with a very small amount, and that too without any hassle. The special thing is that here your investment is completely safe and you can convert it into cash whenever you want.
3. Real-time balance tracking: Always keep an eye on your savings
The Jar app allows you to keep a complete track of your savings and investments in real-time. With the help of this feature, you can check your account balance at any time, and know how much money you have saved and how much gold you have purchased.
4. User-friendly interface: Easy for everyone
The interface of the Jar app is so simple and user-friendly that anyone can easily understand and use it. In this app, you can easily achieve your financial goals even without any technical knowledge.
5. Data security
In this Jar application, you get the guarantee of complete security of your personal and financial data. Bank-level encryption technology is used in the Jar app, which keeps your information completely safe.
You can share your money and personal information with this app without any worry as it takes complete care of your privacy.
Whether you want to invest in gold or want to deposit your savings in an organized form, Jar App provides you a complete solution for all these needs.
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How to Use Jar App?
Using the Jar app is very easy and simple, but its benefits are available only when you use it correctly. If you also want to use the Jar app correctly and invest your savings smartly, then read this guide till the end.
1. Download and install the Jar app
First of all, you have to download and install the Jar app on your smartphone. After downloading, install the app and open it.
2. Register and login
Once the app is installed, you have to create your account in it. For this you have to register using your mobile number or email ID.
The Jar app will send you an OTP (One Time Password) which you have to enter in the app. After this, you can set a secure password so that your account is safe.
3. Link Bank Account
The main feature of the Jar app is that it links your bank account so that every little savings is automatically transferred to your Jar account.
To link a bank account, follow the instructions given in the app. This process is completely secure and all your information remains safe. After linking the app with your bank, it will monitor every transaction and transfer the rounded-up amount to your Jar account.
4. Set up Savings
Now that your bank account is linked, you can set up your savings. The Jar app offers automatic round up, which means that every time you make a payment from your bank account, the amount is rounded up and the remaining amount is transferred to your Jar account.
For example, if you spend ₹95, the Jar app will save ₹5 in your Jar account. This way, you can convert every little amount into savings without any extra effort.
5. Make gold investments
Another major feature of the Jar app is investing in gold. You can buy gold with a very small amount through this app.
To make gold investments, all you have to do is go to the gold section in the app, where you can choose the amount as per your convenience and convert it into gold.
6. Track real-time balance and transaction history
Another feature of the Jar app is that you can view the balance and transaction history of your Jar account in real-time.
7. Set Savings Goals
You can also set your financial goals through the Jar app. For example, if you want to buy a new phone, you can set a goal in this app and the app will divert your savings towards that goal.
8. Regular Updates and Notifications
The Jar app also sends you regular updates and notifications so that you are always informed about your savings and investments.
These notifications tell you when and how much money has been transferred to your Jar account, and what is the current status of your gold investments.
Pros and Cons of Using Jar App
Pros
- Small investment facility: Through Jar app, you can start investing in digital gold with just ₹10. This is a very suitable option for small and middle-class people who want to invest even small savings effectively.
- Automatic savings feature: The round-off feature of the app helps you automatically save your spare change after every purchase, allowing you to make regular savings without any extra effort.
- Simple to use: This app is very simple to use. Its user interface (UI) is very user-friendly and intuitive, making it easy for even new users to use it.
- Real-time update of gold price: Jar app gives you real-time update of gold price, allowing you to buy gold at the right price at any time.
- Availability of various services: Jar app is not limited to investing in gold only. You can also avail personal loans, health insurance, and buy gold jewelry, making it a multi-purpose app.
Cons
- High fees and taxes: Buying digital gold on Jar app attracts 3% GST and a buy-sell spread of 2% – 3%.
- Security issues: Some users have reported that the app has flaws in its security system, such as fingerprint scanning can be bypassed. This can put your personal information as well as your savings at risk.
- Bugs and technical issues: Many users have complained of frequent bugs and technical issues in the app.
- Data security: Although the app claims that your data is encrypted, the app still collects several types of personal information.
- Limited customer support: Many users have complained of issues related to customer support.
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Pricing and Subscription Details
There are a variety of fees and subscription plans for investing and using services in the Jar app, which are designed keeping the users in mind. First of all, you have to pay 3% GST when you invest in digital gold.
Apart from this, a buy-sell spread of 2% to 3% is also applicable on the purchase and sale of digital gold, which affects your investment.
For example, if you buy digital gold worth ₹100, you will get gold worth ₹97.09, while ₹2.91 will be deducted as GST.
Apart from this, the Jar app also offers personal loans, for which an annual percentage rate (APR) of 18.89% is applicable. This rate may change depending on the time period, which can range from 3 to 60 months.
There is also a processing fee of 1.5% to 3% on the loan, which is inclusive of GST. For example, if you take a loan of ₹50,000, the processing fee will be ₹1,000, and you will be disbursed an amount of ₹49,000.
Subscription facility is also available for health insurance. You can get health insurance up to ₹10 lakh by spending only ₹20 per day.
This insurance is valid in more than 7000 hospitals, and you also get the benefit of free doctor visits up to ₹5000.
Overall, the subscription plans and pricing of the Jar app are reasonable as per its services, but in some cases these charges may affect your total investment. Hence, it is important to choose investments and services keeping these charges and terms in mind.
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FAQs
Is Jar App Real or Fake?
Jar app is completely genuine and is being used by millions of users in India. The app has been downloaded more than 1 crore times on Google Play Store and has a rating of 4.4 stars with more than 7.38 lakh reviews. Therefore, there is no need to worry about security while using the Jar app.
What types of services are available in the Jar app?
In the Jar app, you can invest in digital gold, get personal loans, and buy health insurance. Apart from this, you can also buy gold jewellery. Gold prices and purity information are also available on the app in real time, so that you can invest according to today’s gold price.
Is it safe to invest on Jar app?
Yes, it is safe to invest on Jar app. Moreover, all the transactions you make on the app are encrypted, keeping your personal and financial information secure.
Can I take a loan on the Jar app?
Yes, you can get a personal loan on the Jar app. The loan amount can be up to ₹5 lakh and an annual percentage rate (APR) of 18.89% is applicable. The loan tenure can range from 3 months to 60 months, and the processing fee can range from 1.5% to 3%, inclusive of GST.
How profitable is Jar app gold investment?
Gold investment on the Jar app can be profitable for those who want to make small investments. You can start investing in gold with just ₹10. However, while investing you need to keep in mind 3% GST and a buy-sell spread of 2% to 3%, which can affect your total returns.
Conclusion
The Jar app is an effective and secure platform designed for those who want to save easily and regularly.
Overall, if you are interested in investing in digital gold or starting regular savings, the Jar app can be a good option for you.
It is important to carefully understand all the terms and fees of the app before investing and decide according to your needs.