ETMONEY, one of India’s largest mobile financial services platform, today announced that it will offer investments in zero-commission, direct mutual funds from one single place, at absolutely no cost to the user.
In less than 2 years, more than 40 Lakh Indians have trusted ETMONEY & a large portion of them are investing through its mobile-based investing platform. In this short span, it successfully launched multiple industry-first initiatives like built-for-layman mutual fund report cards, paperless KYC, instant withdrawals through SmartDeposit, Online GoldDeposit, Personalized Smart Solutions, One-tap auto-payments & Real-time Portfolio tracking, and insights.
All this has translated into ETMONEY taking a leadership position & today 1.5 of every 10 new monthly online SIPs created in the country are being created on its mobile app. It has helped increase penetration of mutual funds by enabling users from more than 500+ cities in India to invest in mutual funds & has processed more than 2 Crore investment orders. ETMONEY has also ensured that it uses mobile technology and the latest innovations in customer support and operations to create a very seamless, hassle-free investing experience whether you are a first-time investor or an experienced investor.
Commenting on the occasion, Mukesh P Kalra, CEO of ETMONEY said “We have been very clear that technology when combined with mobile, should help in democratizing access of financial services in India. We are excited that we are able to pass the benefit of our low-cost mobile investing platform to every Indian & freeing them from high commissions in mutual funds”
Starting today, ETMONEY is enabling all Indians to invest in zero-commission, direct plans of mutual funds. Every mutual fund scheme has 2 versions, one which has commission embedded in it (Regular Plan) and the other which doesn’t have any commission (Direct Plan). On ETMONEY, you can now invest in these direct plans of 1000+ mutual funds from all top mutual fund companies & save up to 1.5% every year in commission.
For a limited period of time, ETMONEY is providing this facility at absolutely zero cost to new users. To claim this unique one-time opportunity, you need to open a Free Forever Investment account on ETMONEY, wherein you will get Unlimited & Lifetime Free transactions in direct mutual funds across 1,000+ funds from one single place.
Ajit Kumar, who heads the investments vertical at ETMONEY, added “This is in line with regulators push to propagate Direct Mutual funds as a preferred low-cost saving option for retail consumers. Our focus goes beyond transactions and we aim to evolve into India’s premier full-service wealth platform served through digital channels”
To ensure that 20+ million existing mutual fund investors in the country can easily shift to direct plans and start saving in commissions instantly, ETMONEY is also providing Seamless Switch facility of all your existing investments, right from the ETMONEY app on your mobile.