Digital Platforms are gaining rapid pace amongst people today. It’s because of the wide range of benefits one gets while investing in Mutual funds online. These platforms are:
- Completely paperless,
- Give precise information,
- Highlight recommendations,
- Provide alerts and
- Have a variety of options with just a few clicks.
“MyWay Wealth” is one such platform. With MyWay Wealth app you get access to a variety of funds that are tailor-made and customized for your needs, making it the one-stop destination for investments in Mutual Funds. Also, MyWay Wealth app is India’s trusted app for Direct Mutual Funds which is best known for its commission-free and paperless process, and it lets you discover, invest and track your investments with the right actions to your portfolio.
Let me walk you through the various options in “MyWay Wealth”, that helps you select the right Mutual Fund according to your investment horizon, risk appetite and financial necessities.
The first thing you need to do is to install the “MyWay Wealth” app from your app store or play store, on your smartphone.
Once you open the app, it would ask you to enter your phone number. You need to enter the OTP you receive and then you arrive on the landing page of the app.
The app immediately gives you an option to switch from Regular Plans to Direct Plans. Direct Plans are commission free, whereas in Regular Plans a Mutual Fund house pays commission to the broker from your investment. It’s wise to invest in plans that are more profitable and beneficial.
Read More: Why Direct Plans are better than Regular Plans?
The first and foremost step you need to complete on “MyWay Wealth” is to register yourself by completing the KYC( Know Your Customer) process which takes less than 5 minutes. To complete this process you would require:
- PAN card
- Address Proof
- Bank details
Having completed this step you are ready to make your investments on MyWay Wealth.
MyWay Wealth provides a wide range of options to invest in, namely:
MyWay Wealth provides the opportunity to create wealth by letting you invest through Systematic Investment Plans or through One-Time investments, whichever suits your financial goal. The app is well structured to provide you a clear picture regarding the returns one would receive for the amount invested, in a specific period and the choice of percentage between Stocks and Bonds (risk and return aspects).
Read More: SIPs are the best option for investments.
Invest in Top Mutual Funds:
MyWay Wealth lets you invest in Equities, Debt Funds, and Hybrid funds. In Equities, it provides a variety of categories such as tax planning, Small/ Mid/ Multi/ Large-cap funds, Sectoral and International funds. In Debt funds, it offers investments in Liquid, Gilt(medium and long), Short and ultra short term funds and credit opportunities. Options in Hybrid funds include Balanced, Arbitrage, and Conservative funds.
Read More: Top Mutual Funds Categories
MyWay Wealth provides for all your needs, that even includes tax saving. ELSS (Equity Linked Saving Schemes). It provides the highest return, at the same time is the only pure equity investment instrument to provide deduction benefits under Section 80(C), saving tax up to 1.5 lakh. Also, ELSS has the shortest lock-in period of 3 years.
Read More: ELSS vs PPF, Choose the best tax saving plan
MyWay Wealth is the first and only online app to provide the benefit of National Pension Scheme for its investors. The National Pension System is a Government initiative, with an intention to provide pension opportunity to every Indian and to inculcate the habit of saving especially for retirement. With NPS you can earn returns between 9-14% which is way more than other pension schemes such as Public Provident Fund or Senior Citizen Savings Scheme.
Read More: Additional 50,000 tax deduction with NPS, truly a gift for my retirement.
In term insurance, you would pay a set amount as premium on agreed intervals, that forms the sum assured. In the event of your untimely death during the term of the insurance, then your beneficiaries would receive the sum assured. With this option, you can provide a cover of 1 Crore to your family with the same amount you set aside for your monthly TV subscription and also save tax up to INR 46,800.
Read More: Term Insurance, the right choice to protect my family.
NFO is the first time subscription when a new scheme is launched by an Asset Management Company. It has newer opportunities, unique features, and low NAV. You can be a part of the fund’s growth journey through NFO by investing either in Growth or Dividend scheme.
Read More: What is an NFO?
You are unique, so are your investment goals. With this option, MyWay Wealth app helps you to save for a specific purpose such as Retirement Fund, Child’s Education, Child’s Wedding, Vacation or any such goal. This helps an investor to get into a habit of making a goal based investing.
Read More: Setting goals, the first step to investing.
This option in MyWay Wealth allows you to keep money aside for a short duration ranging between 1-3 years. Thereby giving the opportunity to retrieve your parked money at the right time and avoiding the temptation of unnecessary expenditure or idling money.
Read More: Put your idle money to work.
We all love to own Gold. For some, Gold a fashion status, for some it’s a good investment option and for some, it’s both. MyWay Wealth allows its investment in Gold Funds, wherein an investor can gain from appreciation in gold value without the hassle of owning physical gold. Unlike physical Gold, Gold Funds has no making charges, no purity issues and no worries about theft thereby ensuring more gold for your money.
Read More: Top Rated Gold Funds
Every Investor has a need, every need leads to a goal and we at MyWay have an investment for all your goals.
Don’t Delay, Just Think Investments
Think MyWay Wealth