March 31, 2014

Jifi – Social Banking by Kotak Mahindra Bank


Ever heard of being paid on liking a Facebook post? How about receiving points while paying your bills? Still not interested? Ohk, beat this: An automatic tracker of all your bank accounts with detailed information of expenses, liabilities in visual formats!!… #JifiIsHere


Yes, that’s Jifi, a new concept implemented by Kotak Mahindra Bank and oh that’s not all! Read on…

Jifi is a whole new way of banking. What makes it stand out is the way social media has been seamlessly integrated with the intricate/tedious concept of banking. Currently active in most metros i.e. Bangalore (Bengaluru), Chennai, Coimbatore, Delhi, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai and Pune, Jifi will be launched to other cities in some time.
Chetan Bhagat, P.S. I am on TV ;)
Kotak Mahindra invited Indibloggers to experience Jifi firsthand at the live launch party across Mumbai, Delhi and Bangalore. In Mumbai the event was held at Café Zoe, And just like a usual indiblogger meet it was lively, fun-filled and awesome. Our special guest was Chetan Bhagat, an amazing host and very down-to-earth.  You could check out the Jifi Party pics at Kotak Jifi’s Facebook Page here.

And now that you are there on Jifi’s Facebook page, browse through the humorous 1-minute video intro’s for Jifi. They are hilarious and help you understand Jifi well.Here you go.

To open a Jifi Account, all you need is an active Facebook id and voila, the show begins! And if you do not have an active Facebook account or if you would not like to link your Facebook account, worry not! There’s an option to get an invite through email. Here’s a link to the Kotak Jifi Website:

A few (just a few) points to entice you in a jiffy err I meant Jifi:

  • Use twitter to request a cheque book, transaction history, account balance and lots more with just a tweet to @KotakJifi
  • Zero minimum balance, after all you start from scratch!
  • If your account balance exceeds 25,000; Jifi creates a term deposit of your spare cash so that you earn interest!
  • Get points (which you can convert to money) when you like, comment on Facebook. If you are a social freak, then your cash registers will keep ringing!
  • Similarly, get points when you pay your bills online or rather perform any online transaction and earn points
  • Transfer your points to your buddy; a friend in need is a friend indeed!
  • Earned a lot? Redeem your points on online shopping sites or dining destinations!
  • Manage your Jifi on your Smartphone; you need not have a PC all the time!
  • A platinum debit card: Oh yes, stop drooling honey! A chip+pin debit card with higher withdrawal limits and ohh it looks so awesome!
  • Kotak Moneywatch: Connect your multiple bank accounts and analyze your expenses at one go. Calculate tax, forward e-statements, categorize credit card transactions, whew that’s a lot under one roof.
Kotak Jifi Platinum Debit Card, colorful and sassy!
Doubts? Crosscheck the above points here:

It’s all there :)

So come on, do it with me :)

1.      Let’s go to the website:

2.      Log in via Facebook/email

3.      Yay! Hi5. Now let’s see How exactly does Jifi work?

4.      That was easy-peasy. What about the points? How much do we earn for the liking, commenting, referring? Detailed Breakup of points

5.      I was told that its free, How do we verify if there are any charges applicable? – Fees &Charges (if any)

6.      Hmmm, alright. The site is easy, and I have seen most of it, how is security handled at Jifi? What do I do if my social accounts are hacked? Time for FAQ’s

7.      Whoa, that was informative. I am glad we read that! Yay!

Hi5 on the activity completion, I have initiated my process to open an account. P.S. it’s here:

            So what’s stopping you :)?


P.P.P.S: Do leave your comments!


  1. I really like the concept of social banking introduced by Kotak. However, I am not comfortable to expose financial details on social media as even internet banking is not so secure in India . Before diving into this, I will wait on market maturity on this.

    1. Hey Maddy :)
      Do not worry. Your financial details/transactions are all secure and not displayed on social media. Its just allows you easy accessibility thru social media along with a unique points system! Believe me we had seen the demo (and now I am using it too!) its really awesome :D

  2. Hi Sherna, it seems tempting and one for teh future...But I have been duped around 3 times in online scams and so I will wait a bit before going ahead with this one

    1. Holla Ritesh, Hehe no issues, you may still try the demo as it simply requires a facebook login, that's it no need to enter any financials and voila you can use the platform. Have look around and join in, only if you feel its worth for you :)


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