Investing in mutual funds now made easier; this top-up plan is the reason why - Here’s how
The company believes that this portfolio top-up feature will considerably reduce the time taken to make investments in each scheme individually.
Paytm Money, a leading online platform, has been making it easier for retail investors to invest in mutual fund schemes. In its latest move, Paytm on Monday announced that users can opt for top-up in mutual fund investment portfolio in full and or in part at any point of time. The company believes that this portfolio top-up feature will considerably reduce the time taken to make investments in each scheme individually.
Talking about the move, Pravin Jadhav, Whole-time Director at Paytm Money said, “Our investors believe in long term investments and more than 70% of users have chosen to invest in SIP mode. Our average SIPs per investor have doubled in past 6 months. The single tap portfolio top-up experience will help our investors to quickly invest more when they have excess amount to invest. We have seen promising results in private beta for adoption of this feature and expect more users to adopt this now.”
A user of Paytm Money can select all or part of the mutual fund schemes they wish to top up & make payments for same in one-go. Users no longer have to edit & invest in each fund individually.
Currently, the company provides the choice to either top up all the mutual fund schemes in the portfolio or an each scheme individually. This can be used in multiple ways - to top-up equity funds for your long-term goals, or ELSS funds towards annual tax saving or simply top up liquid funds as an alternative to keeping money in bank account.
This new feature is available on its latest versions of Android & iOS app for download.
Within a few months of launch, Paytm Money has over 1 Million Users making it the largest online platform for Mutual Fund investments in India.