Individuals in India who find it difficult or hesitant to plunge their cash in any financial instrument, can rely on Jar’s android app to start their savings journey for as little as one rupee.

Jar holds multiple ways for users to drop their cash into it and even getting this journey started takes a few seconds. To set up a recurring payment, the app uses Paytm (PhonePe compatibility is in the pipeline). (This is the first startup to leverage UPI 2.0's recurring payment feature.) They can invest any sum between 1 Indian rupee and 500 rupees on a daily basis.

Jar can also read users' text messages and save a small bit of money for each monetary transaction they make. So, if a user spends 31 rupees in a transaction, the Jar app rounds it up to the nearest tenth amount (in this case, 40) and saves nine rupees. Users can also access the app directly and invest any amount they like.

When users save money in Jar, the app invests that money in digital gold.

Speaking of digital gold, a startup in this line offers digital alternative credit for its customers, and CIO Insider recently reported that this startup raised about $ 12 million in Series A funding. This startup is none other than Indiagold, also a young startup like Jar, and helps people manage their gold digitally. Indiagold's revolutionary doorstep gold loan and gold locker solutions offer an unsurpassed customer experience while also allowing the company to offer credit at reduced rates. Indiagold's quick expansion is a result of its outstanding product capabilities and the vast experience of its famous founders.

Consumers can now store their gold in a safe deposit box and borrow against their gold reserves, thanks to the company's two core offerings. The startup uses gold to assess its customers' creditworthiness and offers APIs to banks and other lenders looking to enter a hitherto unexplored market. Thanks to the company's invention of two essential products, consumers can now store their gold in a safe deposit box and borrow against their gold holdings.

The startup aims to ease depositing of gold in a locker for its customers since a lot of people are highly careful with their gold and only expect that it's stored in a safe manner. Although the startup charges minimal fees unlike those charged in banks, it makes sure to ensure its customers’ gold. Customers can use the Indiagold app to see the current value of the gold items in their locker. At this point, the startup's second offering becomes available. If these customers need a loan, the company may be able to offer them a line of credit in less than 30 seconds.

Indiagold has had to deal with a lot of extra issues this year as if changing consumer behavior wasn't difficult enough. The deadly second wave of the coronavirus, according to Misra and Abbot, took away 70 percent of their firm in a couple of days. We've been through a lot in this short journey, Misra pondered. However, by the first week of this month, he stated, the business had hit an all-time high.

Back to Jar, the startup is investing in gold as the South Asian market already has a high level of trust in this asset class.