Paytm Money, a subsidiary company of leading digital payments company Paytm, on Friday said it will offer mutual fund investment products at zero fee to its customers.
The new wealth management and investment arm of the company will launch in the next two weeks time. The company in a statement said that it is seeing extensive interest of customers and as many as 7.5 lakh individuals are done with the registration process to get early access to the facility.
The company will begin with offering direct mutual fund schemes that have lower expense charges.
"We are aiming to make investing simple, transparent and accessible for all. We believe that the mutual fund industry will grow from current 20 million investors to over 50 million investors in the next five years," Paytm Money Whole time Director Pravin Jadhav said.
The company has announced that it will establish the investment and wealth management entity in January this year. And the offering at no fee will only boost growth of the new platform.