Mutual funds are a type of investment scheme that combines money from numerous investors and invests it in securities like bonds, stocks, gold, etc. Operated by a professional fund manager, mutual funds are devised to meet different financial objectives, which are decided by your risk appetite and investment tenure. Whether your goal is to save on taxes, gain high returns, or invest in the most valuable companies, you can fulfill your short- and long-term objectives by picking the right mutual fund.
There are two options to start investing in mutual funds – lump sum and Systematic Investment Plan (SIP). If you have already saved up a considerable amount, you can invest it all together, i.e., lump sum. However, if you would like to deposit your money at fixed intervals, such as quarterly, monthly, or bi-monthly, a SIP is the best way to start your investment journey.
Investing in mutual funds via mobile apps
Due to the raging popularity of mutual funds, companies have created mobile apps to make investing, tracking, and managing your funds more convenient. Below are the key benefits of using such apps to begin investing.
- No more paperwork
For most people, investing feels like a hassle because of all the paperwork and formalities. With a good app on your phone, you can open an account without leaving the comfort of your couch. All it takes is five minutes, and then you are all set up. Even your KYC process will be completed online.
- Easy tracking and analysis
Mutual fund apps do not just allow you to make investments but also to keep track of how specific funds are performing. You can also study how a fund has performed in the past and analyze if it is ideal for your financial objectives. Some apps have implemented a rating system to help you pick mutual funds that are consistent in their returns. This is especially beneficial for new investors.
- Instant transactions
With mobile apps, you can withdraw any amount, anytime, anywhere. Linking your bank account at the beginning makes transacting a one-step process.
- Completely safe and secure
Some people are reluctant to trust mobile apps or even Net Banking out of fear of safety. However, when it comes to mutual funds apps, there is no need to worry. They simply enable convenient transacting, which means your investment does not go to the application company. Still, it is better to download an app from a company you already trust, that has been around for a long time, and that offers all the features you need in one place.
To sum it up
Investing in top-rated mutual funds has never been easier. If you are looking for a one-stop solution that lets you explore various fund categories designed to meet specific financial objectives, invest and transact on the go, and automate your SIP payments, just check out Tata Capital Moneyfy app and take your pick. Investing online today is secure, transparent, reliable, and provides a platform for all your financial needs – be it investing in mutual funds or insuring to protect your future.