Paytm Money Goes Live; Can It Make Mutual Funds Investments Attractive To Millennials?

Paytm took another step today towards becoming a financial giant with the launch of Paytm Money, its mutual fund investments and distributions platform. It has been designed to make it uncomplicated for users to make investments in direct plans of mutual funds with no hidden commissions involved.

We had been hearing murmurs about the impending launch of Paytm Money for the by few weeks, with the company sending out emails for early access to its digital payments platform users. This helped them garner close to 850,000 registrations prior to the official launch of its mutual fund investment platform.

Paytm Money is an independent entity, operating out of Bengaluru and focusing on the creation of investments and wealth management products.

Paytm Money Features

Permit's beginning off with the nearly straight-forrad ane – yous can set up your Paytm Money business relationship for free, with no hidden charges or opening fees involved. Y'all become access to all common fund schemes from the top 25+ AMCs (asset management visitor) in India, so you tin take your pick from 90% of the industry'southward Rs 22 trillion worth of assets.

Notwithstanding, if you aren't sure what mutual fund to invest in, Paytm Coin has tried to ease the decision-making process by partnering with leading rating services likeMorningStar, CRISIL and Value Research. It gives you lot an insight into the mutual fund performance, riskometer, and more info to help discover new funds and make a pick.

Paytm Money even gives you a free contour cess to assistance know your risk appetite.

The highlight of Paytm Money is that it gives you the freedom to showtime investing in some schemes with as little as Rs 100 – without having to worry near transaction fees. You can conduct an unlimited number of investments and withdrawals, set up auto-payments, get comprehensive portfolio insights, and a lot more. Everything for free.

Paytm Coin Availability

The Paytm Money app is live on both Android and iOS, only in that location'south a lengthy waitlist to get access to the platform and start investing with just a couple taps. The visitor currently plans to onboard close to than 2,500 users per day, ramping up the aforementioned to 10,000 in the coming days.

The users will have to complete the fully-digital KYC procedure, already live in the app, to gain faster access. The Paytm Money app shows that there are shut to 6 lakh users alee of me in line, only I accept completed the KYC process including PAN, Aadhaar, and Bank account verification.

It took nearly 30 minutes for Paytm to verify all my details and go my account set up for investments, simply I still couldn't buy or sell mutual funds.

While the mutual fund landscape in India may not be flourishing, platforms such as Zerodha's Money, Groww and Paytm Money are looking to introduce the millennials to these financial institutions. The company expects the number of mutual fund users in India to more than double, from the existing 20 million to l one thousand thousand, over the next 5 years.

So, are you looking to download Paytm Money and kickoff investing in mutual funds? Permit us know your thoughts in the comments below.

Source: https://beebom.com/paytm-money-mutual-funds-investment/

Posted by: davissuchang.blogspot.com

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