Comparison
Balance vs axio (formerly Walnut)
Both Balance and axio (formerly Walnut) help you understand your spending, but they're built with different priorities. Here's a straight comparison so you can pick what fits you.
In short: An Indian money-management app (previously Walnut) that now centres on credit and pay-later. Balance is a free, ad-free, India-first expense tracker with receipt scanning and no bank login.
Free · No ads · Made in India · Android (iOS coming soon)
Which is better for simplicity?
axio (formerly Walnut) can feel heavier depending on how many features you use. Balance aims for simple-but-capable: fast capture by scanning, with analytics available when you want them. For most people wanting quick daily logging without a learning curve, Balance is the easier day-to-day tool.
Which is better for analytics?
Balance gives free breakdowns by category, merchant, account and time, plus AI nudges when you overspend. axio (formerly Walnut) offers its own reports, though depth and whether they're free vary. If you want capable analytics at no cost, Balance has the edge.
Which is better if you don't want ads or a subscription?
This is Balance's clearest advantage. It's free with no ads and no mandatory subscription. axio (formerly Walnut)'s model here is: free (monetized via credit), with ads described as "credit-product prompts". If avoiding recurring fees and ads is the priority, Balance wins.
Which is better for Indian users?
axio (formerly Walnut) is India-focused too. The key difference is approach: axio (formerly Walnut) has historically leaned on SMS access or a credit/investment model, whereas Balance is a dedicated, privacy-first tracker that never reads SMS and never upsells credit.
Which is better for beginners?
Beginners usually do best with low friction and no upfront cost. Balance's scan-to-log flow and free analytics make it approachable, while axio (formerly Walnut) may take a little more setup or a plan to unlock the useful parts.
When axio (formerly Walnut) is the better choice
To be fair to axio (formerly Walnut): Users wanting SMS-based tracking bundled with pay-later/credit. If that's you, it may be the better pick — and that's a perfectly good reason to choose it.
| Feature | axio (formerly Walnut) | Balance |
|---|---|---|
| Price | Free (monetized via credit) | Free |
| Ads | Credit-product prompts | None |
| Expense tracking | ||
| Budgeting | ||
| Analytics & trends | ||
| Receipt / UPI screenshot scanning | ||
| AI overspend nudges (Roast Mode) | ||
| Requires bank login / SMS | Reads SMS (historically) | No |
| Offline-first capture | ||
| CSV export | Varies | |
| Built for India (₹, UPI) |
Frequently asked questions
Is Balance free compared to axio (formerly Walnut)?
Balance is free with no ads and no mandatory subscription. axio (formerly Walnut)'s model is: Free app, monetized primarily through credit and pay-later products.
Does Balance need bank access like axio (formerly Walnut)?
No. Balance never asks for a bank login or SMS access — you scan or add expenses yourself. axio (formerly Walnut)'s approach: Reads SMS (historically).
Which platforms is Balance available on?
Balance is available on Android today. An iOS version is coming soon. It's a mobile app rather than a web dashboard.
Keep exploring
Start understanding your money with Balance.
Free forever, no ads, no bank login. Join the waitlist and we'll send your invite.