My friend Rohan sent me a screenshot last week.
“Which one should I get?” he asked.
Multipl on one screen. Jupiter Edge on the other.
I laughed. Then realized he wasn’t joking.
He genuinely thought these apps did the same thing.
They don’t.
Not even close.
What These Apps Actually Do
Multipl is about saving money BEFORE you buy something. Think of it as a digital piggy bank that invests your money in mutual funds. When you’re ready to buy that iPhone or book that trip, you redeem your savings. Bonus: partner brands give you extra discounts.
Jupiter Edge is a credit card. A RuPay credit card from CSB Bank offered through Jupiter’s neobanking app. You swipe first, pay later. Earn cashback. Build credit score. Standard credit card stuff with a modern twist.
See the difference?
One delays gratification. The other enables instant gratification.
One is about discipline. The other is about convenience.
When I moved back to India in 2017, I had to relearn the entire Indian fintech ecosystem. Apps like these didn’t exist back then. Now they’re everywhere.
The question isn’t which is better. It’s which solves YOUR actual problem.
How Multipl Really Works
You decide you want to buy a bike in 12 months.
You create a goal in the Multipl app. Target: ₹80,000.
Every month, you invest ₹6,000. Multipl puts this money in mutual fund baskets based on your timeline.
Short term goal (less than 6 months)? Liquid funds. Long term goal (more than 6 months)? Equity oriented funds.
Your money grows with market returns. Typically 8-12% annually depending on the fund type.
When you’re ready to buy, you redeem. If you buy from partner brands like Croma or Ather, you get extra cashback or discounts. Sometimes 5-10% on top of market returns.
My cousin used Multipl to save for his wedding. Saved ₹3 lakhs over 18 months. Got ₹15,000 worth of extra vouchers from partner brands when he redeemed for his honeymoon booking.
The catch? Your money is locked in mutual funds. If markets crash, your corpus shrinks. If you withdraw before your goal, you might lose returns.
The discipline angle: Multipl forces you to save systematically. No impulse buying. Your future self thanks you.
How Jupiter Edge Actually Works
Download Jupiter app. Complete KYC. Apply for the Edge+ credit card.
Get approved based on your credit score and income.
Start swiping. Earn cashback on every transaction.
2% cashback on one category (shopping, travel, or dining). 0.4% on everything else. Paid as “Jewels” where 5 Jewels = ₹1.
You can use this card for UPI payments. That’s the killer feature. Scan QR codes, pay via UPI, still earn credit card rewards.
Pay your bill on time every month. Build your CIBIL score. Get higher credit limits over time.
I use Jupiter’s debit card for daily expenses. Haven’t tried their credit card yet because I’m already maxed out on credit cards. But the UPI feature is genuinely innovative.
My friend who got it? Spends ₹50,000 monthly. Earns roughly ₹800-1000 in cashback. Annual benefit: ₹10,000-12,000.
The catch? It’s still a credit card. Spend beyond your means, you pay 42% annual interest. Miss payments, your credit score tanks.
The convenience angle: Jupiter Edge lets you buy now. But you better have the discipline to pay later.
The Real Comparison
| Feature | Multipl | Jupiter Edge |
|---|---|---|
| What It Is | Goal-based savings app | RuPay credit card |
| Primary Purpose | Save first, buy later | Buy first, pay later |
| Money Flow | You invest regularly | You borrow, repay monthly |
| Returns | 8-12% from mutual funds | 0.4-2% cashback |
| Risk | Market linked | Debt trap if misused |
| Timeline | Long term (3-36 months) | Short term (credit cycle) |
| Credit Score Impact | None | Builds credit history |
| Joining Fee | ₹0 | ₹499 (Edge+) |
| Annual Fee | ₹0 | ₹0 (waived on ₹1L spend) |
| Best For | Planned big purchases | Daily transaction rewards |
| Partner Brands | 50+ brands (Croma, Yatra, Kalyan) | General merchants |
| Withdrawal | Anytime (may lose returns) | Not applicable |
| Age Requirement | 18+ | 23-60 years |
Looking at this table makes the difference obvious.
Multipl is for people who struggle to save. Jupiter Edge is for people who want rewards on existing spending.
If you’re someone who tends to overspend with credit cards, Multipl teaches better habits. Check out my guide on best credit cards in India to understand the credit card landscape better.
If you’re disciplined and want to maximize returns on money you’re spending anyway, Jupiter Edge makes sense.
When Multipl Actually Makes Sense
You’re planning a family trip to Europe in 10 months.
Total budget: ₹4 lakhs. You save ₹40,000 monthly in Multipl. Book through partner brands like MakeMyTrip or Yatra, get extra 5% back.
You want to buy a bike but don’t want to take a loan.
Create a goal for 12 months. Your ₹6,000 monthly SIP grows to ₹75,000-₹80,000 depending on market performance. Buy from Ather or similar partners, get additional benefits.
You’re terrible at saving money.
Multipl’s automated investment forces discipline. Money leaves your account before you can spend it elsewhere.
My sister used this for her daughter’s school fees. Saved ₹1.5 lakhs over a year. Got ₹7,500 in extra vouchers from an education partner.
For NRIs returning to India, understanding investment options is crucial. Multipl fits into the goal-based investment category.
When Jupiter Edge Makes Sense
You spend ₹50,000+ monthly on credit/debit cards anyway.
Switching to Jupiter Edge gives you 0.4-2% back. That’s ₹10,000-12,000 annually. Free money for changing nothing.
You want to build credit score.
Fresh graduate? First job? Jupiter Edge reports to CIBIL. Six months of good payment behavior builds a solid score.
You want UPI payments to earn rewards.
This is the game changer. Most credit cards don’t work with UPI. Jupiter Edge does. Your neighborhood kirana store QR code? Earns cashback now.
You’re returning to India and need to rebuild credit history.
Your US credit score doesn’t transfer. You need Indian credit history. Jupiter Edge with its low joining fee (₹499) is a cheap way to start.
For comprehensive banking needs, check my detailed comparison of HDFC Bank vs SBI to understand traditional banks before jumping into neobanking.
The Hidden Costs Nobody Mentions
Multipl looks free. Zero joining fee. Zero annual charge.
But here’s what they don’t highlight:
Redemption restrictions. You get maximum benefits only when redeeming through partner brands. Withdraw directly to bank? You lose the brand discount advantage.
Market risk. If you save for a bike and markets crash 20%, your ₹80,000 goal becomes ₹64,000. You either wait for recovery or top up manually.
Limited liquidity. Yes, you CAN withdraw anytime. But premature withdrawal defeats the purpose. You lose potential gains and brand benefits.
Jupiter Edge appears free too. Zero annual fee (if you spend ₹1 lakh annually).
The real costs:
Interest on unpaid balance. 42% APR. Brutal. Pay only minimum due? Your ₹10,000 purchase becomes ₹14,200 in a year.
Forex charges. 3.5% markup on international transactions. Your Europe trip suddenly costs 3.5% more.
Reward caps. Maximum ₹3,000 cashback monthly. Spend ₹5 lakhs? Still capped at ₹3,000.
💡Smart tip: Use Multipl for big planned purchases. Use Jupiter Edge for daily spends you’ll pay off monthly anyway.
What I’d Actually Recommend
For salaried professionals planning big purchases: Multipl. The forced saving habit is worth more than any credit card reward. Link it to real goals. Your wedding. Your dream bike. Your Europe trip.
For disciplined spenders who pay bills on time: Jupiter Edge. The UPI rewards alone make it worthwhile. Just never carry a balance.
For young professionals building credit: Jupiter Edge. Your CIBIL score opens doors. Apartment rentals. Car loans. Future credit cards with better limits.
For anyone who tends to overspend: Multipl. Credit cards are dangerous in undisciplined hands. Save now, buy later eliminates debt traps.
For NRIs returning to India: Both, eventually. Start with Jupiter Edge to build credit fast. Add Multipl once you understand your spending patterns in India.
When we returned in 2017, I wish apps like these existed. Would have made financial planning so much easier. Now with options like these plus traditional mutual fund platforms, there’s no excuse for poor money management.
The Psychology Angle
Multipl taps into your inner child. Remember your school gullak? Same feeling. Set goal. Save money. Buy reward.
It gamifies savings with progress bars, milestones, and achievement badges. Feels good watching your goal completion percentage increase.
Jupiter Edge taps into instant gratification. Buy now. Worry later. Plus the dopamine hit of seeing cashback accumulate.
Both work. Different personalities need different approaches.
My wife prefers Multipl’s approach. She likes seeing money grow toward specific goals. Gives her purpose.
I prefer credit card cashback. I’m disciplined enough to pay on time. Free money on spends I’d make anyway? Count me in.
Know yourself. Pick accordingly.
What Changed in 2025
Multipl now offers more asset classes. Earlier just liquid funds. Now equity, debt, even digital gold options.
They’ve partnered with 200+ reward brands. Earlier just 50. More redemption flexibility.
Jupiter Edge increased joining fee from ₹0 to ₹499 for Edge+. First 2 lakh users got lifetime free. Others pay upfront.
Cashback structure simplified. Earlier had 17 categories. Now just 3 main categories plus a catch-all.
Both apps are evolving fast. What works today might change in 6 months. Stay updated.
For broader financial planning, especially for returning NRIs, my guide on smart tax saving strategies covers the complete picture.
My Bottom Line After Using Both
I don’t actively use Multipl. Why? I’m already disciplined with SIPs through Groww. Don’t need another app for goal-based investing.
I do use Jupiter’s debit card. Not the credit card yet. My credit card portfolio is full.
But if I were 25 again? Just starting my career?
I’d use Multipl for my first bike. Jupiter Edge for daily spends. Build good financial habits early.
The real answer? Use both strategically.
Multipl for BIG planned purchases you want to save toward.
Jupiter Edge for SMALL daily expenses you’re making anyway.
Don’t make it either/or. Make it both/and.
Still confused? Ask in the Back to India Facebook group. Real people. Real experiences. Better than any blog post.
TL;DR
Multipl:
- Goal-based savings in mutual funds
- Save ₹X monthly, buy after 6-36 months
- 8-12% returns from market + brand discounts
- Best for: Disciplined savers, big purchases, long-term goals
- Risk: Market volatility can reduce corpus
- Zero fees, but redemption works best through partners
Jupiter Edge:
- RuPay credit card with UPI capability
- Earn 0.4-2% cashback on spends
- Pay monthly like any credit card
- Best for: Daily spenders, credit building, UPI rewards
- Risk: Debt trap if balance unpaid (42% interest)
- ₹499 joining (Edge+), annual fee waived on ₹1L spend
Bottom line: Multipl teaches you to save. Jupiter Edge rewards you for spending. Pick based on your money personality, not marketing hype.
Sources
- Multipl Official Website – Features and how it works
- Inc42 – Multipl Case Study – October 2022
- Jupiter Money Official Website – Card features and benefits
- Paisabazaar – Jupiter Edge Review – November 2025
- Outlook Money – Save Now Pay Later Analysis – September 2024
- Aayush Bhaskar – Best SNPL Apps – June 2025