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The popularity of mobile apps has made investing in mutual funds easier than before. From the comforts of your home, you can track your investments, manage your portfolio, and access a large selection of mutual funds with a few simple clicks on your smartphone. Many people, especially beginners, have been inspired to begin investing because of this convenience. Here is a step-by-step guide to assist you invest in mutual funds via mobile apps if you're new to the process.<br>
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How to Invest in Mutual Funds Via Mobile Apps? The popularity of mobile apps has made investing in mutual funds easier than before. From the comforts of your home, you can track your investments, manage your portfolio, and access a large selection of mutual funds with a few simple clicks on your smartphone. Many people, especially beginners, have been inspired to begin investing because of this convenience. Here is a step-by-step guide to assist you invest in mutual funds via mobile apps if you're new to the process. Ways to Invest in Mutual Funds Through Mobile Apps The process to follow for investing in mutual funds via the mobile mutual fund app is as follows. 1. Select the Appropriate App Choosing the appropriate platform is the first step in investing via mobile apps. Access to a wide range of mutual funds is made possible by numerous applications, which also offer safe transactions, an easy-to-use interface, and practical functions like portfolio tracking. Verify if the app is trustworthy, has a wide selection of mutual funds, and is supported by a reputable financial institution. 2. Finish the KYC procedure After choosing an app, the next step is to finish the Know Your Customer (KYC) procedure, which is required in India for investments in mutual funds. You can accomplish this online using several smartphone apps by providing your PAN card, Aadhaar card, and other necessary information. Your KYC will be accepted after verification and then you can easily start your investment. 3. Analyse your Options for Mutual Funds You can use the app to explore several mutual fund investment options after completing the KYC process. Typically, these funds are divided into several types, including debt, hybrid, equity, and sector-specific funds. The funds can also be filtered according to your time horizon, risk tolerance, and investing objectives. It is easier to make informed judgements by using apps that offer comprehensive fund information, including past performance, fund managers, and related risk. 4. Select Your Investment After selecting a mutual fund, you have two options for making investments in it: lump amount or Systematic Investment Plan (SIP). Investing a certain amount regularly using a SIP promotes disciplined investing habits. The majority of apps let you automate this procedure by allowing you to schedule automatic monthly withdrawals from your bank
account. On the other hand lumpsum investment refers to a one-time investment of a large amount of money into a financial instrument or asset. 5. Monitor and Organise Your Portfolio The ability to track and manage your portfolio in real time is one of the biggest benefits of using mobile apps for mutual fund investing. Within the app, you can track the performance of your funds, switch between funds, and redeem your assets as needed. Conclusion Using mobile apps to invest in mutual funds has significantly simplified the process for investors. One notable option is Tata Capital Moneyfy, which offers a user-friendly and secure platform for researching, investing in, and managing mutual funds. Additionally, Tata Capital Moneyfy's business loan app is designed to streamline the investing experience, making it accessible and convenient for investors of all skill levels.
