Save your money today and your money will save you tomorrow.
This is a quote that Jar App founders Nischay AG and Misbah Ashraf completely swear by. Let us understand through this article, what this app, founded in 2021 all about and how is it changing the norm as an investment platform in the startup ecosystem.
What is the Jar App?
In today’s age, financial discipline is more important than ever. The Jar App has emerged as a powerful tool with an intention to make the process of saving money easy, effortless, efficient, and enjoyable. It has positioned itself as a micro-savings platform that helps users build a habit of saving their money by automatically setting aside small amounts of money.
It is carried out by primarily by rounding off the daily spending of an individual and investing the available balance available change into digital gold. This innovative concept has become one of the most popular fintech applications in India presently.
Most people today, especially in the youth bracket range of 20 to 30 years are aware of the investment patters but don’t really know where to begin. How does one understand the way mutual funds or the stock markets work? Of course, reading and research on these areas helps, but for many young Indians starting out on their employment journey, the plenty of options end up confusing them about investing.
The Jar App was founded in 2021 by two dynamic entrepreneurs and is built on the idea of helping Indians to make investing a habit. The founders saw the gap in investment literacy and taking cues from the people around them, they began their work with an asset class that Indians understand the most – gold.
How Does Jar App Work?
The Jar app rounds off an individual’s daily spending to help people to start investing in small amounts. For example, if a cab ride costs Rs 232, the app rounds it off to the nearest 10, in this case Rs 240. The additional Rs 8 debited from a customer’s account is invested in digital gold. The app picks transaction data from the customer’s SMS messages and makes the investment at the end of each day. Customers have the flexibility to pause these investments as and when they wish to.
The model is built around investing every user’s money in 24K digital gold, which is stored in government-certified vaults and can be sold or withdrawn at any time. Since the money is saved as gold, customers can withdraw or liquidate their investments as per their choice. The logic behind this firm was to start with something simple, and hence gold was chosen.
Gold as an investment is known to be one of the most liquid forms to earn instant money, as it’s easy to convert cash no matter the price. Real estate can take weeks or months to sell, with heavy transaction costs and legal formalities. Mutual funds and bonds are typically not as fast to liquidate either.
In the last 6 months, the gold prices have seen a significant increase of approx. 23% in the 24-carat category, with the rate touching the six-figure mark soon. In the last five years, there has been a substantial increment in the Indian market ranging from around INR 35,000 per 10 grams in 2019 to around INR 97,000 per 10 grams in 2025.
Gold as a commodity has deep value in the population mindset due to high cultural significance, sentiments and mass appeal regardless of any age, language or geographical restrictions. This innovative app earns a 2 percent commission from Safegold for every investment a user makes. As the platform will introduce more investment products later, the revenue model will see changes too.
Application Usage of Jar App
The Jar App is available on both Android and iOS platforms. Signing up is straightforward users need to enter their mobile number, verify it with an OTP, and connect their bank account or UPI ID. Once set up, the app begins monitoring transactions and saving automatically.
Through the app the users can view their gold balance, track goal progress, redeem funds, and make changes as per the requirement. The Jar App also provides regular notifications and tips to help customers manage investment better and work towards long-term savings.
Browse the website link for further information to access and download the Jar App through this link- Save Money on India’s Trusted Digital Gold App | 3.5 Cr+ Indians
The Way Forward – Jar App
Jar App has immense potential to get more people in investing through formal credit methods. As of today, India has about 650 million internet users but only about 50% of them only transact online. Several Indian fintech companies have attracted global investor interest, as more people are switching to online modes for their banking and investment transactions.
With the startup expecting to onboard more users by the end of 2025, you too can make the most of this opportunity and start your savings journey by making the first step towards investing for a secure future.