• on 18 Dec 2020
• By growmymoney
• Investments

How to Invest Online in Popular Funds?

How to Invest Online in Popular Funds?

Investing has become hassle-free now due to the internet revolution across India. You don’t have to stand in a queue to deposit money in your recurring account, savings account, or any other investment plan. You can invest online in popular funds so easily through your all-time companion smartphone. You can do almost all your work related to searching for a new scheme, opening an account, depositing into an account, transferring your balance online, sitting in the comfort of your car, office, or home. You can search for the best SIP to invest, best mutual funds, high return mutual funds, top mutual funds in the current year and the previous year everything online according to their performance and return matrixes. Then you can invest online according to your surplus amount and targets. 

Savings Accounts

Online savings accounts are a safe way of investing online because of their comparatively higher return and security over the capital. If you have a lump sum of money at your hand that you might need anytime, an online savings account is the best option for you. You can transfer this money anytime to your primary account and you will get a higher return (6-7%) in such accounts. These accounts are generally managed centrally from their headquarters, hence they can save the money of branches and human resources. So, they comparatively provide you a higher return. All you need to apply online and verify your e-KYC online through Aadhar OTP. 

Invest Online in Mutual Funds 

Though mutual fund investment is subject to market risk, it has become the most popular mode of investing online among the new generation of investors. Mutual funds provide you an opportunity to invest in the biggest farms in the country in multiple plans according to your capacity. Online investment in mutual funds is so easy that initially, you need to just enter your PAN number to get the best access to the different plans suitable for you.

Systematic Investment Plan (SIP) offered by so many mutual fund companies is so popular nowadays because it provides you a return of approximately 12-15% per year and you can invest monthly starting from as small as Rs 500 only. You can set your own financial goal and create an instant SIP account online providing just the details of your investment details. Different asset management companies and their websites can help you in investing online in a hassle-free way. 

Invest in Stocks

You can create your own investment portfolio online and manage your portfolio investment. A portfolio investment is having ownership of stocks, bonds, or other investments when you wait for the growth of these investments. You can invest in Demat, trading, and online mutual funds through your smartphone or laptop. You can apply for a Demat account on the websites of so many banks and financial agencies and start investing in stocks. You can go through a study on the risk factors in the present markets and the best stocks to invest in a current position. 

Invest Online in Tax Savings Schemes

Life insurance, health insurance, child education policy, retirement policy, public provident fund, tax saving mutual funds are all that you need to think about if you want to grow your money, secure your life and family, and save tax simultaneously. You can opt for all these tax savings schemes online nowadays. You can search for suitable schemes, read carefully, and invest as per your needs in all those schemes online. 

Apart from these modes of investments, your online money wallets and bank’s mobile applications will give you so many options of investments like the investment in golds, real estates, and other schemes. Investing online is so easy and flexible. But you have to be aware of the terms and conditions, risk factors, and the scope of return before taking any decision for investment. You can consult with an AMFI registered mutual fund distributor to know more about mutual fund investments. 

• on 12 Dec 2020
• By growmymoney
• Investments

Why Goal-based Investing Matters?

Why Goal-based Investing Matters?

Every investment should be aimed at a particular goal that would instigate the investors to carry on it for a specific time period. Goal-based investing (known as GBI) is the systematic way of achieving all our dreams with judicial investments in multiple funds of several categories.  We set up many dreams and strive to achieve those during the course of our life. This includes smaller things like a laptop or an iPhone or bigger things like an apartment, a foreign tour, or a dream car. We sometimes fail to attain our goals not because of our financial instability, but because of our failure to carry on goal-based investing. 

We should think of goal-based investing (GBI) for the following reasons: 

1. Setting our purpose: GBI helps to set our purpose of investment. Every investment should be directed to a specific purpose, which might be small or big. For instance, suppose you are planning to buy a laptop this Diwali or you are planning for a holiday at the end of this year. You can invest in short term funds like equity funds, mutual funds, short-term recurring in banks, or through an equity PMS for attaining such small goals. You can also save in several online banks’ savings accounts that give you higher returns than the traditional public and private banks. You can invest online in so many funds for gold or real estate across the country. If you are thinking of bigger things like an apartment, a foreign tour, or a dream car, you need more systematic investment planning. It may be Systematic Investment Plans (SIP) through a reputed mutual fund. SIP from top mutual funds will give you the scope of a higher return than the traditional recurring scheme or Public Provident Funds (PPF). You may think of PPF too if you are satisfied with moderate return and risk-free investment. You may consider long term investments in the stock market or mutual funds; the latter might have a specific lock-in period.  
2. Reducing the risk factors: If you are interested in Unit Linked Policies of insurance companies or SIP in mutual funds, the best way is to follow diversification. Investing in a singular fund increases the risk on investment. When you are investing in so many funds according to your short term and long term goals, it helps in diversifying the risk.. 
3. Developing the habit of investments: GBI helps an individual investor to develop the habit of investment for even a smaller cause. This helps to attain all the dreams in a systematic way. GBI makes an individual aware of the market and its risk. So, the investor can choose the right fund, whether it may be a mutual fund or a government backed schemes, at the right time. 
4. Securing financial independence: A gradual and systematic way of investment makes an investor financially independent in the long run. If you can judicially use the surplus amount of your earnings every month, it would make a big difference in your life. Long term investments like equity PMS and Systematic Investment Plans in mutual funds, systematic investments in saving instruments like Public Provident Fund, investments in multiple schemes in the stock market are supposed to make you financially stable after a period of time. GBI makes the habit of investment for an investor. GBI helps to fulfill your dreams and makes you financially independent. 
5. Creating paths for the next-generation: When you invest for the purpose of your child’s education, it not only meets your dream but the dream of your next generation too. You create the right track of goal-based investing for your successive generation that helps them to be financially independent in the long run. 
6. Ensuring tension free retirement: GBI helps an individual investor to attain all his goals in the way of his life. At the same time, it ensures a tension-free retirement. Goal-based investing in the retirement plans of so many insurance companies in the Indian markets brings you a lump sum amount after your retirement that helps you to live your life with dignity. A variety of retirement funds and SIP offered by insurance companies and mutual funds across the Indian market help to grow your money for a longer period of time for your utilization during retirement. In this way, GBI helps you to enjoy your dream during your career as well as offers a hassle-free retirement.