Saturday, June 6, 2020
Planning to Invest in Mutual Funds? Here’s How You Can Install Paytm Money App and Grow Your Wealth
Earlier, investing in mutual funds used to be a complicated process with all the hassles of paper-based account opening. With its fully digital platform, Paytm Money app has made it simple and convenient for everyone to start investing in mutual funds and grow their wealth. Now, you can open an investment account free of cost and earn up to 1% higher returns with direct plans, avoiding any commissions charged by banks or distributors. In addition to this, with just a few taps, you get to view updated mutual fund information, top-rated schemes, hand-picked investment ideas and exclusive mutual fund recommendations for everyone to start investing.
Over time, Paytm Money has evolved into a comprehensive wealth management tool. Here, you can also save taxes with the help of ELSS Funds and build a retirement corpus through the National Pension System (NPS). Together, these two options offer you a combined tax-saving of up to Rs 62,400. Also, you can start a SIP in your preferred mutual fund for as low as Rs. 100.
Here’s how you can create an account on Paytm Money and start investing in a mutual fund:
Step 1: Install Paytm Money app from Google Play store or App Store
Step 2: Login with your Paytm account credentials or instantly create a new account with your mobile number
Step 3: Complete your KYC & become investment-ready within minutes
Step 4: Tap on ‘Invest’ button at the bottom of the home screen
Step 5: Select, ‘Discover Mutual Funds for Investments’ & you can now compare various schemes based on its ratings, ideas, fund manager, and AMC information
Step 6: Select a fund of your choice and tap on ‘Invest Now’
Step 7: The app lets you invest via SIP or the Lump-sum mode. Select your desired option and enter the amount of investment. Next, tap on ‘Proceed to Payment’
Step 8: Make the payment using UPI, Net banking or by setting an Auto-Pay with your bank for automatic deduction of your payments. Complete the transaction and you are done!