Paytm Money unveils Investment Packs for 1st time investors: Begin SIP with just Rs 1,000, Rs 2,000; get Rs 1.50 lakh tax benefit
Paytm Money has launched Investment Packs an advisory product offering curated investment portfolios of mutual fund schemes.
Paytm Money which has emerged among top online platforms for providing mutual fund services, has taken another step to make sure investment in this scheme is fruitful and exciting. This time Paytm emphasizes on first-time mutual fund investors and has launched ‘Investment Packs’ - an advisory product offering curated investment portfolios of mutual fund schemes. The portfolios of mutual fund schemes are customized under this pack with advisory team, to cater to the investment needs of all types of investors.
Pravin Jadhav, Whole-Time Director of Paytm Money said, “Our focus with Paytm Money has always been to add incremental investors to the Mutual Fund industry. While we offer our investors a simple and seamless investment execution service along with easiest SIP management, there was always a question from new investors - “where do I invest?”. With “Investment Packs” we aim to bridge this gap by offering customized advisory portfolios and simplifying investments for the first time investors of mutual funds on Paytm Money.”
Each pack is created with an intention to cater designated risk profile type and has a different asset allocation of equity & debt mutual funds that is suited to the investor’s risk appetite.
The risk profile assessments are offered free of cost to all users on Paytm Money.
An investor can invest via both SIP and lump sum modes. A typical investment pack comprises of 3-5 mutual fund schemes and has an asset allocation of debt-equity based on user’s unique risk profile.
There are two versions in this new pack namely large and mini, based on the minimum amount required to start the investment. Mini Investment Packs start at Rs. 2,000 while the large packs start at Rs. 5,000 for SIPs.
Apart from this, Paytm also offers Tax Saving Investment Packs for investors looking for simple tax-saving solutions, to help them save tax under Section 80C of the Income Tax Act, 1961. Under this section, one can claim up to Rs 1.50 lakh tax benefit on their investment in mutual fund schemes.
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