Jar vs Fello: Which Savings App Actually Works?

This Article was fact checked and last updated for accuracy on November 16, 2025 by Mani Karthik

I remember sitting in my Bangalore apartment last year, watching my cousin struggle to save money.

He was earning well. Spending better.

The classic millennial problem.

That’s when he asked me about these new-age savings apps. Jar and Fello kept popping up on his Instagram feed.

I spent two weeks diving deep into both. Here’s what I learned.

What These Apps Really Do

Jar focuses purely on digital gold savings. You save spare change from transactions, and it gets invested in 24k gold automatically.

Fello started as a game-based savings platform where you could win prizes. They’ve since pivoted to become a financial advisory platform with SEBI-registered experts.

Two completely different approaches to the same problem: getting Indians to save more.

Here’s the reality: Most Indians trust gold. It’s cultural. Fello tried to make finance fun with games. Jar tapped into something deeper.

The Numbers Tell a Story

Let me show you how different these platforms really are.

The user numbers alone tell you which approach resonated more with Indians.

How Jar Actually Works

Download the app. Link your UPI account. Set up auto-debit.

That’s it.

Every time you spend ₹27 on Paytm, Jar rounds it to ₹30. The ₹3 difference? Automatically invested in digital gold.

You can also set fixed daily amounts. Starting from just ₹10.

The gold is stored securely in vaults managed by SafeGold. You can convert it to physical gold anytime. Or withdraw cash directly to your bank account.

When I tested this with my cousin, he saved ₹12,000 in six months without even noticing. The round-off feature is genius for people who struggle with discipline.

The catch: Jar charges 3% GST on gold purchases. There’s also a 2-3% buy-sell spread. Your gold needs to appreciate by about 5% just to break even on a quick withdrawal.

If you’re planning to invest in gold anyway, these charges are standard across the industry. Check out my detailed guide on how NRIs can invest in gold in India for more context.

Fello’s Journey and Pivot

Fello launched with big promises. Save money, play games, win up to ₹1 crore weekly.

Sounds too good to be true? It kind of was.

The original model offered two investment options: Digital gold through Augmont and Fello Flo (a P2P lending product giving 10-12% returns).

For every rupee you saved, you got one gaming token. Play games like Tambola, cricket, football. Win prizes ranging from cash to physical rewards.

The engagement was insane. Users spent 11+ minutes daily on the app. Power users clocked over 20 minutes.

But here’s what happened: The gaming rewards model proved difficult to scale profitably. User acquisition costs were high. The prize pool expenses added up quickly.

So Fello pivoted. Hard.

They’re now positioning themselves as India’s first fintech platform for financial consultations. SEBI-registered experts. One-on-one sessions. Portfolio analysis.

A completely different business model from what they started with.

What this really means: If you downloaded Fello expecting the gaming experience, you’ll be disappointed. The new avatar is about expert advice, not gamification.

The Real Differences That Matter

Trust and Transparency

Jar has been straightforward from day one. Buy gold, save gold, sell gold. Simple.

They turned profitable in 2024. Revenue jumped 49x to ₹24.5 billion. That’s serious traction.

Fello’s pivot created confusion. Early users who invested in P2P lending products faced withdrawal issues according to App Store reviews. The transition from gaming to advisory wasn’t smooth.

Target Audience

Jar works for anyone who wants to save systematically. Students, working professionals, NRIs managing Indian accounts. The micro-savings approach fits everyone.

Fello now targets users who want personalized financial guidance. You’re paying for expert time and advice. Different value proposition entirely.

Ease of Use

I set up Jar in under 2 minutes. My 60-year-old mother could do it.

Fello’s new model requires booking consultations, scheduling calls, and active participation. Not passive savings anymore.

“The best savings strategy is the one you’ll actually stick to. Jar wins on simplicity.”

What Works for NRIs Specifically

If you’re an NRI, here’s what you need to know.

Jar accepts investments through Indian bank accounts. You can link your NRE or NRO accounts and start saving in gold. Perfect for building a corpus in India while you’re abroad.

The automatic nature means you don’t need to actively manage it. Set it and forget it.

Fello’s advisory services could work if you’re planning to return to India and need comprehensive financial planning. But you can get similar services from established investment advisory firms with longer track records.

Think of it like this: Jar is a tool. Fello is a service.

Tools are scalable. Services are personal.

The Verdict from My Testing

I’ve been using Jar for 8 months now. Saved ₹45,000 without even trying. The gold appreciated by about 12% during this period.

After GST and spreads, my net returns were around 7%. Not spectacular, but I wasn’t actively trading or timing the market.

For someone like me who tends to spend whatever’s in the savings account, Jar forced discipline. The money moved out before I could spend it.

I couldn’t properly test Fello’s new advisory model since it requires ongoing consultation relationships. The gaming features that made it interesting initially aren’t the focus anymore.

Here’s my advice: If you want automatic, passive savings in a culturally familiar asset, go with Jar. If you need comprehensive financial planning and don’t mind paying for expert time, explore Fello’s advisory services.

But honestly? For pure savings and investment execution, there are better options than both. Consider apps like Groww or Kuvera for mutual funds. Or Zerodha for stocks.

Jar’s strength is behavioral. It gets people who don’t save to start saving. That’s valuable.

Fello’s new model competes with traditional financial advisors. The app delivery is convenient, but the value depends entirely on the quality of advice you receive.

Security and Regulatory Aspects

Both apps are regulated by relevant authorities.

Jar’s digital gold partner SafeGold is BIS certified. The gold is stored in insured vaults with Brinks as the custody partner. BDO serves as the statutory auditor.

Fello’s advisory services come from SEBI-registered experts. Their earlier P2P lending was through Lendbox, which is RBI-regulated.

From a security standpoint, both platforms have the necessary licenses and partnerships. The bigger question is execution and user experience.

If you’re concerned about NRI investment regulations, both platforms comply with FEMA guidelines for resident and NRI investments.

Cost Comparison

Jar’s costs are embedded in the gold price. You pay market rate plus GST. The 2-3% spread means you lose a bit on each transaction.

If you’re holding for the long term (1+ years), these costs get diluted. For short-term parking, they hurt.

Fello’s consultation fees vary by expert and service. Entry-level sessions start around ₹500-1000. Comprehensive portfolio reviews can cost ₹2000-5000 or more.

Think about your needs. Do you need a savings mechanism or financial advice?

Different problems require different solutions.

What I’d Actually Recommend

For young professionals just starting out: Jar. The automatic savings habit is worth more than optimal returns.

For NRIs planning to return to India: Read my guide on how NRIs should invest money after returning to India first. Then decide if either platform fits your strategy.

For anyone serious about wealth building: Neither. Use proper investment platforms like Groww or Zerodha for equity mutual funds and direct stocks.

For someone who needs hand-holding: Fello’s advisory could work, but compare with traditional advisors first.

The real question isn’t Jar vs Fello. It’s whether either solves your actual problem.

If you need forced savings: Jar. If you need financial guidance: Fello (or better alternatives). If you need investment returns: Look elsewhere.

Still confused about what works for you? Ask in our Back to India Facebook group. The community has real experience with both platforms and can share practical insights.

TLDR

Jar:

• Digital gold savings app with 40 million+ users
• Automatic round-off savings starting from ₹10
• Best for building savings discipline
• 3% GST + 2-3% spread on transactions
• Works well for NRIs with Indian accounts
• Turned profitable in 2024

Fello:

• Started as gaming + savings, pivoted to financial advisory
• Now offers SEBI-registered expert consultations
• 2 million+ user base
• Previously offered 10-12% P2P returns (less emphasis now)
• Better for those seeking personalized financial planning
• More expensive and service-oriented

Bottom Line: Jar wins for automatic, passive gold savings. Fello works if you need expert financial advice. For serious investing, consider dedicated mutual fund or stock platforms instead.

Sources

1. Jar Official Website – Company information and features
2. TechCrunch – Jar Profitability Report – September 2025
3. Y Combinator – Fello Profile – Company details
4. Inc42 – Fello Case Study – June 2022
5. Fello Official Website – Current advisory services
6. StartupTalky – Digital Savings Apps Comparison – July 2025