Business

Paytm Money Launched For Investments In Mutual Funds, Click Here To Know About Benefits

JAVED SAIFI | 0
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| September 4 , 2018 , 11:31 IST

One of the leading digital payments platforms in India, Paytm has launched its subsidiary venture 'Paytm money'  on Tuesday that invests in mutual funds.

With a tagline of 'Simple, Transparent and Accessible' Paytm Money is aimed at providing a fully digital investing experience to investors with over 2000 mutual fund scheme options in partnership with 25 Asset Management companies, this covers over 90 percent of the industry.

Benefits

The Paytm Money is a SEBI (Securities and Exchange Board of India) registered Investment Adviser (IA) that allow users to start investing in Mutual Funds with no charge on investments, no hidden commissions, no transaction fees, free and digital KYC on Mobile, Free Risk profile Assessment, and Fully Mobile Investing.

Also Read: Paytm Mall Launches Quality Drive, Delists 85,000 Sellers

With top-rated schemes, funds with highest returns, India’s trusted Fund managers, Minimum Investment account, smart and Powerful Search, leading mutual fund companies, Instant Redemption Funds and Investment ideas Paytm Money aimed at bringing a platform for investment opportunities to smaller cities and interior towns.

On safety parameters it has Paytm Login with 2-factor authentication, fully transparent tracking, fingerprint and pin protected app with data privacy protection.

It offers convenient payment options with net banking, auto pay with eMandates, auto pay with physical mandates to invest. It will also offer UPI based payment option soon.

Also Read: RBI Directs Paytm Payments Bank To Stop Enrolling New Customer

Investment Requirements

If you are a new investor than you need Pan Card, Address proof and details, photo and in-person verification video, Bank Account Details and Nominee and declarations.

If you are an existing investor than you need only Pan details, Bank Account details, nominee and declarations.

What Founders Have To Say

Vijay Shekhar Sharma Founder and CEO of Paytm said, “Access to wealth creation opportunities till today has been limited to a select few. With Paytm Money we want to democratise and bring Mutual Fund investments to millions of Indians."

"We are committed to take the Mutual Fund investor base in India to 50 million in the next 5 years and expect Paytm Money to be the catalyst in bringing new incremental investors to this industry," he added.

Pravin Jadhav the whole-time Director of Paytm Money said, “We are truly humbled by the unprecedented interest we have received. With Paytm Money, our role is to connect millions of investors to India’s trusted AMCs & fund managers while making the investing process — simple, transparent, accessible to all and offer it completely free to investors."

"We are building a technology-based platform that offers both investment advisory and execution services, complete detailed risk profiling and provide all possible information to users before they take any investment decision,” he added.

Also Read: Paytm Collects Rs 30 Crore For Kerala Flood Victims

25 Asset Management companies are 

Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Baroda Pioneer Mutual Fund, Canara Robeco Mutual Fund, DHFL Pramerica Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, ICICI Prudential, Mutual Fund, IDFC Mutual Fund, Indiabulls Mutual Fund, Invesco Mutual Fund, Kotak Mutual Fund, L&T Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Principal Mutual Fund, Quantum Mutual Fund, Reliance Mutual Fund, SBI Mutual Fund, Tata Mutual Fund, Taurus Mutual Fund and UTI Mutual Fund.