For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Investing In Mutual Funds Using WhatsApp

|

Most mutual fund houses have now adapted to social media and even offer services over WhatsApp. While some only allow you to check transaction status, others let you check account statement and perform non-financial services.

Investing In Mutual Funds Using WhatsApp
 

There are some asset management companies (AMCs) that offer options like lumpsum investment or SIPs (systematic investment plans), switching from one scheme to another and even requesting redemption through the widely used instant messaging app.

Other non-financial transactions include changing contact details, nominee details, receive account statements, capital gains statement, etc through WhatsApp.

HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, ICICI Prudential Mutual Fund and Motilal Oswal Mutual Fund allow transactions through WhatsApp. Axis Mutual Fund has recently enabled its services as well.

The services provided by each of the AMCs differs. Not all allow you to make investments via WhatsApp, however, you can initiate a conversation with the bot to lead you to a link to the mutual fund house's website that can enable you to invest. Some send the account statement to your registered email ID, upon request.

On the other hand, Aditya Birla MF even allows investors to complete their KYC through WhatsApp.

All mutual fund houses will allow you to ask queries or file complaints.

How to initiate WhatsApp services with your mutual fund house?

Save the number of your mutual fund house on your mobile phone. Go over to WhatsApp and initiate a conversation with the saved number by sending "Hi."

You can ask questions to the WhatsApp bot and follow instructions received over the chat.

If you are holding investments in more than one mutual fund house, you can use CAMS' (India's largest mutual fund transfer agency) Online WhatsApp services. The number has been specified above. Save the number and begin the interaction with a "Hi."

 

A Word of Caution

WhatsApp services for investments are attractive but only provided for convenience purposes. If you are new to investments, do your thorough research before starting with mutual funds. You can also seek help from a professional financial advisor on the same.

Mutual funds are subject to market, or systematic, risk. One needs to make their investments with consideration.

Read more about: whatsapp mutual funds
Story first published: Wednesday, August 12, 2020, 17:18 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X