invest in Mutual Funds From Paytm Money App
Paytm Money – Open your fully digital investment account using your Paytm registered email or mobile number and start investing instantly. Paytm now provides users with an option to make their investments in mutual funds using Paytm Money app and website. You can Now invest in Mutual Funds From Paytm Money App. It is good practice to invest in Mutual Funds using your earned Paytm Cash and Earned Money online.
Mode of investment preferences is via SIPs (Systematic Investment Plans) starting just at Rs 100. What’s more, the registration and KYC processes are paperless, unlike traditional means. Today we will show you how you can start investing in Mutual Funds via Paytm Money. We have provided all steps of invest in Mutual Funds From Paytm Money App.
How to invest in Mutual Funds From Paytm Money App
Initially, the app will offer all schemes and direct plans from 25 mutual fund houses, including all large fund houses, that cover around 90% of the industry’s ₹ 22 trillion worth of assets under management. “Eventually, and very soon, we will have the rest of the fund houses on board,” said Pravin Jadhav, whole-time director at Paytm Money.
Below are simple Steps of how to invest in Mutual Funds From Paytm Money App.
Step 1 – Registration in Paytm Money App
1: Login to Paytm Money website or download the Paytm Money app for your Android or iOS devices.
2: Sign into your Paytm account using your login credentials such as the registered mobile number or e-mail address and password.
3: Tap on ‘Apply for Access’.
4: User will be put on a waitlist, which indicates that there are other people ahead of them in the registration for early access queue.
5: To quicken the whole process, users can click on the option called ‘I Want Faster Access’ using the Paytm Money app.
Step 2 – Complete KYC in Paytm Money App
1: Enter PAN card details to initiate KYC and fill mandatory details like your personal information, address proof, nominee and FATCA declarations, bank account details, etc.
2: You need to upload your digital signature by either signing on their smartphone screen via the app or uploading an image of your signature.
3: You need to upload your picture clearly showing your face and torso.
4: As part of the KYC process, you have to upload a 5-second in-person verification (IPV) video wherein you clearly state your full name.
5: Once you complete the KYC process, you are ready to invest in Mutual Funds From Paytm Money App.
Step 3: Investing in Mutual Fund
1: To invest in Mutual Funds using Paytm, you can use various factors and quick filters in order to discover the best investment option for you.
2: Select your investment mode preference, i.e. SIP or one-time investment.
Note: Upon selecting SIP, one can view suggested dates to do monthly SIPs on the SIP calendar. Dates for SIPs are suggested based on historical performance of the fund. This way, you can get the best possible returns.
3: Tap on the option ‘Proceed to Payment’ to make the transaction. Once the transaction is done, you can keep a tab on timelines of transactions and more.
That’s it, you are good to go. As always a word of caution – Mutual Funds are subject to market risks. (Do your research and) read the offer document carefully before investing.
Over the past month or so, Paytm Money has been allowing customers to register on its website to get a chance for early access. Of the 850,000 customers who have registered for the app so far, the firm will start providing access to more than 2,500 customers per day, and eventually more than 10,000 customers per day, Jadhav said.
Initially, Paytm Money will not charge fees from their customers, even though it does not earn any commission as it is selling direct plans. Typically, RIAs who sell direct plans are eligible to charge fees from investors. Jadhav declined to reveal when Paytm could start charging fees. “We do not have any plan to start charging fees for now”, he said.