Now, invest in mutual funds directly from WhatsApp: Motilal Oswal becomes first AMC in India to tie up with Facebook owned platform
WhatsApp has become a one stop platform for users. It is used to exchange text, audio, images, videos, GIFs, make calls and now, it can also be used to invest in mutual funds. Yes, you read it right! You can now add WhatsApp to the long list of platforms that allow you to invest in mutual funds.
WhatsApp has become a one stop platform for users. It is used to exchange text, audio, images, videos, GIFs, make calls and now, it can also be used to invest in mutual funds. Yes, you read it right! You can now add WhatsApp to the long list of platforms that allow you to invest in mutual funds. Motilal Oswal Asset Management Company (Motilal Oswal AMC) has become the first AMC in India to introduce mutual funds (MFs) to WhatsApp. According to a banner on the AMC's website, the investors can now park their money in Motilal Oswal funds from the instant messaging platform.
Speaking on the launch, Aashish Somaiyaa, MD & CEO, Motilal Oswal AMC said, “Offering transactions on WhatsApp is our effort to try and be present wherever our investors might find it easier and convenient to be able to deal with us."
How to invest in Motilal Oswal mutual funds through WhatsApp?
1. You need to add Motilal Oswal AMC number to your contact list. As per the website, the number is +91 9372205812.
2. Go to WhatsApp and open the chat window for this number.
3. Type 'Hi' and send.
4. From here, you will be guided on how to invest in the mutual funds.
5. The investors might be asked to provide some details like Name, Date of Birth and their PAN card details.
6. Once the process is complete, you will get a payment link where the customer goes to bank account and authorises payment for the transaction.
Besides WhatsApp, the customers can continue to invest through fund house's website and mobile app. They can also invest through third party investment apps like Paisa Baazar and Patym Money. among others. The AMC is expected to introduce more features that will help customers access their account statements along with addressing their service requirements needs.
Why you should invest in mutual funds?
The biggest advantage of mutual funds is the liquidity they offer as well as the unmatcheable returns generated for you over the long-term. You can sell your units at any point (when the market is high), unlike some other investment schemes that come with a lock-in period. Also, mutual funds allow investors to diversify their investment. The fund manager always invests in more than one asset class (equities, debts, money market instruments etc.) to spread the risks.
SIPs allow investors to put money in small denominations. This reduces the average transactional expenses - you benefit from the market lows and highs. There are different type of mutual funds available in India catering to investors from all walks of life. You can choose the scheme as per your requirements.