There are so many neo banking apps that are coming up in India. Everyone has a focus and that is to get more and more customers. Simply put the people who will use these neo banking apps to open a bank account for themselves. Today we are speaking about one such app and that is Jupiter Money.
There is a feature that is offered by this app. They call it “Networth”, this is an amazing feature which can be used by you to check the balance you have in all your bank accounts.
What? All bank accounts?
Yes, you read it right. This feature will not only tell you the balance you have in your Jupiter account. But also that which you have in your other bank accounts.
What is the Networth Feature of Jupiter Money?
It is a feature of Jupiter Money that shows the total balance the customer has in all his or her bank accounts. This includes the balance in Jupiter Account and also other bank accounts.
For example, Mr. ABC has 3 accounts other than Jupiter account as explained below.
| Name of the Bank | Balance in the Account |
| State Bank of India | Rs. 10,000 INR |
| IDFC FIRST Bank | Rs. 5,000 INR |
| IndusInd Bank | Rs. 5,000 INR |
| Total Balance in Other Bank(s) | Rs. 20,000 INR |
Also, let us consider that the customer has Rs. 5,000 INR balance in the Jupiter account.
So the Networth that will be shown to the customer in the Jupiter Money app is Rs. 25,000 INR. In case the customer has any loans then it will also be considered while calculating the Networth.
If the customer has a loan of Rs. 5,000 INR then it will be deducted and the Networth displayed will be Rs. 20,000.
Why these Features are Added?
The major objective of all the neo banking apps is to stand out from the crowd of the traditional banks and to make the life of customers easy.
When traditional banks like SBI, IDFC FIRST Bank, and IndusInd are already providing all types of services. Then why should one download a neo banking app?
The neo banking apps have to provide a reason for this shift. And that is why these kinds of innovative features are added to the apps.
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