Wednesday, April 24

Why ET Money Is The Most Favorite App For Mutual Funds?

ET Money app is the preferred app for mutual funds as it helps in the productive management of finances. It offers a single and one of the most impressive gateways for investing your money in multiple mutual fund schemes. It has enabled the implementation of personal financing management plans easier than ever. 

mutual fund schemes

ET Money App is an Ideal Option for Managing Mutual Funds

A multi-use investment platform is the biggest reason for the growing popularity of this mutual fund app. It is extremely useful as it fulfills the varied financial needs of young and tech-savvy investors. The application helps to invest finances in mutual funds and insurance. It also offers a gamut of facilities to apply for loans, along with checking credit scores. 

The app enables the new generation of investors to earn higher interest. This can be easily done by investing in Smart Account. It offers up to 50% higher returns on the idle cash. 

ET Money app also offers term plan, health insurance, and vehicle insurance, including bike insurance. This can be done by several insurers including Bharti AXA, HDFC Ergo, HDFC Life, Kotak, Tata Apollo Munich. You can easily compare and buy the best plans. 

Benefits of Using ET Money Mutual Fund App

The ease and convenience of investing in mutual funds simply double when you use the ET Money app. The following are some of the most noteworthy benefits of using the app for your mutual fund investments.

types of mutual funds

You can invest in no commission direct mutual funds

Typically, if you invest in a regular plan of mutual funds, you do that through banks or mutual fund agents. These regular plans charge a specified amount of commission from the returns generated and pay it to the agents involved. This, in turn, reduces the gains that come to you.

But with the ET Money app, you can invest in direct plans of mutual funds. These direct mutual funds are zero commission. This means that the money which would have gone to the agents now gets added to your revenues. The result: up to 1% additional returns on your investment each year. 

Now if you calculate it, 1% extra revenue on a SIP of around 10k for 20 years can add a massive of INR 7 lakhs to your return. And that is definitely a lot of money. 

You can invest in leading asset management companies in one place

ET Money mobile app enables the users to invest in the top mutual funds of India all in one place. it brings together the best funds and allows you to invest in all of them at the same time. 

So, there is no need to create multiple accounts or remember various passwords to diversify your financial portfolio. Apart from buying, the app also lets you redeem all your investments without any hassle.

You can easily evaluate the different funds and select the best one

Selecting the right mutual fund depends on different factors. You need to consider your precise investment objectives, time frame in mind, and risk appetite. Based on these, you can choose from the different types of mutual funds in the country. 

The process of choosing the best funds just gets easier with ET Money. The mutual fund app lists funds that have been categorized on these parameters. There is a Smart Solutions category within the app that lets you choose from pre-defined combinations of hand-picked funds. 

Whether you are looking to invest for the purpose of tax-saving or make a worthy short-term investment, you can easily find the right funds on the ET Money app. 

You can track your money and expenses

ET Money app comes with a money and expense tracking facility that is absolutely free. The feature automatically collects all your spends in one place. It tracks your expenses through SMS and categorizes them so that you can effectively keep a track of your money. 

What the app primarily does is that it keeps a track of all your SMS’s that contain details on your transactions. Based on the SMS, it will make an expense or income in your ET Money account. It provides some good insights on your spends, categories, etc. 

You can track and switch your investments to direct

If you have already made investments in mutual funds, managing and tracking them is easy with the app. To do that, simply upload the statement of your previous investments and you are good to go. You can readily track all the investments from one place. 

The app also enables you to switch all the past investments made through an agent to zero commission direct plans. Thus, you can have the same investment made in the same funds without the added layer of profit-cutting commission. 

With a single interface, the app makes it very convenient to track all new and old investments. You can also redeem them whenever you wish to. Download ETMoney App

It offers ET Loan Pass

This is another one of the greatest benefits of using the ET Money mutual fund app. The Loan Pass feature works like an overdraft facility. Depending on your credit score and other norms, you are allowed a credit limit along with a credit card. 

You can use this card to withdraw a certain amount of money when you need it. You can pay the amount back within 36 months of withdrawal. The interest on this amount varies between 13% and 18%, depending upon your credentials. 

Also, applying for the loan pass through the app is an uncomplicated procedure. You can choose from different lenders such as Bajaj, RBL, etc. You can evaluate the interest rates charged by different lenders before selecting any one. It must be noted that there is a 2% processing fee charged on the loan amount. 

The investment process is much more safe and secure

ET Money mutual fund app is a one-stop destination for all your financial needs. It has the most advanced security protocols to ensure complete data confidentiality. 

With a very high-security standard, it protects all the user information. It uses top encryption techniques to make the process 100% secure for the users. You can easily link your bank account with the app. So whenever a fund is purchased or redeemed, the transactions are directly made from the bank account. 

If you are looking to invest in mutual funds, you must consider using the ET Money app. With the best hand-picked collection of funds on offer and other notable features, it sure makes the investment process a lot easier.

 

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