Automating Emergency Fund
As per recent reports over 82% Indians have had a financial impact due to ongoing Covid19 pandemic. This means that there is a greater need to create and maintain emergency fund. Emergency fund as experts describe is 3-6 months of corpus equivalent to average monthly expenses which need to be stowed away in highly liquid instruments like a bank account or a liquid mutual fund wherein the funds can be received the same day when the need arises. Towards this upSAVE app provides you a way to automatically setup this emergency fund for you once the app is installed. Two saving plans namely Save as you Spend and Save before you Spend come in play here.
Check out the app here