How To Invest In Mutual Funds Using Paytm Money App?

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    Paytm, the revolutionary digital payments company, has now forayed into the mutual fund space and through its association with as many as 25 asset management companies (AMCs) will be offering direct plans of mutual funds that can be purchased from its newly launched Paytm Money app. The company via its app plans to sell mutual fund schemes to 25 million individuals in the next 3-5 years time.

    How To Invest In Mutual Funds Using Paytm Money App?

    As per the company release, the new Paytm Money app has been registered with capital markets regulator Securities Exchange Board of India (SEBI) as an investment advisor for selling direct plans of mutual funds.

    The platform allows individuals to invest in mutual funds with as less an amount as Rs. 100 on a monthly basis via systematic investment plans (SIP). Further the reports suggest that 8.5 lakh users have already registered themselves on the app and these are chiefly from beyond the top 15 cities.

    Process to invest in mutual funds via Paytm Money app

    First, individuals willing to invest in mutual funds via Paytm Money need to get their KYC or know your customer verification done for getting started with investments. After this an investment account with the company can be opened at zero fees.

    Here are listed few steps using which you can invest in mutual funds via Paytm Money app

    1. Login to the new Paytm money app using your Paytm account credentials such as the Paytm registered e-mail Id or mobile number.

    2. Enter your PAN or permanent account number to check KYC status. After the details are shared and KYC verification is complete, users can begin to invest in mutual funds within minutes.

    3. At the buying stage, investors can select direct mutual fund plans on the basis of scheme rating, fund manager, risk appetite, investment objective etc.

    As per Paytm Money, no transaction fees is to be paid while buying or selling mutual fund schemes. Also, there are no hidden charges, commission or fees. Investors can expect up to 1% higher return. The company claims to offer maximum return on invested money.

    In addition, the company will help you during the mutual fund selection process by providing services such as instantaneous tracking of the investment and free risk profiling of the prospective customer.

    Goodreturns.in

    Read more about: paytm mutual funds paytm money
    Story first published: Friday, September 7, 2018, 13:50 [IST]
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