Paytm Money announced that its users can now top-up their mutual fund investment portfolio in full and or in part at any point of time. The new feature is available on its latest versions of Android & iOS app that is available for download.
The company believes that this portfolio top-up feature will considerably reduce the time taken to make investments in each scheme individually. Users of Paytm Money can select all or part of the mutual fund schemes they wish to top up & make payments for same in one-go. Users no longer have to edit & invest in the each funds individually.
Pravin Jadhav, Whole-time Director at Paytm Money said, “Our investors believe in long term investments and more than 70% of users have chosen to invest in SIP mode. Our average SIPs per investor have doubled in past 6 months. The single tap portfolio top-up experience will help our investors to quickly invest more when they have excess amount to invest. We have seen promising results in private beta for adoption of this feature and expect more users to adopt this now.”
Paytm Money provides the choice to either top up all the mutual fund schemes in the portfolio or an each scheme individually. This can be used in multiple ways – to top-up equity funds for your long-term goals, or ELSS funds towards annual tax saving or simply top up liquid funds as an alternative to keeping money in bank account.