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Our Products Savings Pockets

Embark on your path to financial discipline with our Savings Pockets—a simple tool designed to empower you on your path to financial discipline. Savings Pockets offer a simple way to plan and allocate your income seamlessly into designated pockets, ensuring your money goes where it matters most. With up to 7 customizable pockets, you can address a spectrum of daily, monthly, annual financial needs, from essential expenses to special occasions. Remember, financial discipline is not a destination but an ongoing journey. Cultivate discipline, and you’ll gain control over your money.

Key Features
Create up to 7 pockets
Customization of the pocket name
Track your transactions
Use the money for your desire
Customize your Savings Pockets
We offer you the option to create up to 07 separate savings pockets. Whether it’s your rent, home renovation, car maintenance, education fees, medical bills, birthday of a loved one, credit card bills or vacation fund, have a dedicated pocket for each of these financial needs.
Track your transactions
You can monitor the savings and expenses against each customized pocket you create and track your financial discipline.
How Savings Pockets work
To get started, you must first have a genie Digital Savings Account and ensure its funded. Once you have your genie Digital Savings account set up, you can create Savings Pockets for specific financial needs. To add money to these pockets, initiate transfers from your genie Digital savings account. When the need arises to spend for the purpose you have opened the savings pocket, you can transfer funds from the selected Savings Pockets back to your genie Digital Savings account and spend for the purpose it was opened for. Direct transfers to and out to other bank accounts to a savings pocket, genie debit card and ATM transaction, QR payments are not allowed from your savings pocket to ensure your savings in the pocket stay dedicated to their intended purposes.
FAQs – Savings Pockets
What are Savings Pockets?
Savings pockets serve as a tool to help you identify your financial priorities for the month and ensure you're well-prepared, reducing the likelihood of unexpected financial surprises. We offer you the option to create up to 07 separate savings pockets for better financial planning.
Do I earn an interest on the balance in my Savings Pockets?
Yes, you will get the same interest rate as your genie Digital Savings account.
How can I create a Savings Pocket?
Go to Savings -> Pockets -> Get Started -> Accept terms and conditions -> Label your pocket and enter the amount -> Submit!
How can I add money to my Savings Pockets?
To activate a Savings Pocket, you must initially have a genie Digital Savings Account. Typically, you can only add funds into your Savings Pockets from this Savings Account.
Is it possible to close a Savings Pocket?
Yes, you can close your Savings Pocket anytime via “Manage Pocket” option in the genie app.
Can I make transactions with merchants, pay bills, transfer funds, etc. using the Savings Pockets?
No, you can only withdraw funds into your genie Digital Savings account.
How do I transfer funds from my Savings Pockets?
You can transfer funds from your Savings Pocket to your genie Digital Savings Account via “Transfer Money Out” option. However, direct transfers to other accounts or using alternative methods such as QR payments, bill payments, or ATM withdrawals are not permitted.
Are there any charges or taxes included in this Savings Pocket Account?
No charges applied. However, Advance Personal Income Tax is applying for the Savings Pocket interest amount.
Can a customer change the Pocket Account name after the Pocket account creation?
No. If so, customer has to close the Pocket Account and open a new account with DF.
How many maximum Savings Pocket accounts that customer can open?
Currently, 7 Savings Pocket accounts can open by the customer.
How many Savings Pocket accounts can be closed per day?
Currently, 5 Savings Pocket accounts can be closed per day.
Is there any min or maximum value configure for the Add Money option?
Yes, minimum value is Rs.1.00 and maximum value will be the genie Digital Saver account current balance.
Are there any min or max value configure for the Transfer Money Out option?
Yes, customer has to maintain the minimum value of Rs.100.00 in the Savings Pocket account and can transfer the rest value in the Savings Pocket account to genie Digital Saver account.
What will happen if the Savings Pocket is having a balance amount in the account when initiating a closure?
Automatically transfer that balance to the genie Digital Saver account.
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