Paytm Money app launched for mutual funds; Check details here

Digital wallet company Paytm today launched its mutual fund app 'Paytm Money', with a target to make mutual fund investing accessible for everyone. The app is now available for download on Google Play store and the Apple App store. Over 8.5 lakh people have registered for early access on the app, the company revealed on Twitter. 
 
Users have to wait to access the app, but those who are eager to have early access should complete their KYC forms to become investment ready. Paytm Money will offer Paytm Money Investment packs which are designed by the company's advisory team, especially for users based on their risk appetite. 
 
Paytm Money's whole-time director Pravin Jadhav stated on Twitter, "With an investor-first approach, we are offering direct mutual fund investment plans at zero fees to our users."

According to paytmmoney.com, Paytm Money offers investments in direct plans of mutual fund schemes with no hidden commissions. Open your Investment Account today for free & get access to these incredible benefits. It also describes benefits under several heads like:
 
1. Free Account Opening: Open your investment account at zero fees
2. Upto 1% Higher Returns: Invest only in direct plans of mutual fund schemes 
3. Portfolio Insights: View insights, statements & track performance anytime for free
4. Commission-Free Investing: No hidden fees or commissions. Maximum returns on your money.
5. 25+ AMCs: All schemes from leading 25+ AMCs covering 90%+ industry AUM
6. Paperless Investing: Experience fully digital KYC, payments, investment & tracking on the app
 
The aim of the app is to democratise and bring mutual fund investments to millions of Indians according to Paytm Money director, Vijay Shekhar Sharma, was quoted as saying by ET Now. 
 
According to ET Now, the app offers free account opening service which means users can open their investment account at zero fees. There will be no hidden fees or commissions and the app covers all schemes from over 25 leading AMCs such as Aditya Birla Capital, Axis Mutual Fund, DSP Mutual Fund etc which cover 90 per cent plus industry AUM, the report said. 
 
Users will reportedly experience fully digital KYC, payments, investment and tracking on the app. 
 
User will reportedly be able to view portfolio insights, statements and even trach the performance anytime for free, besides being able to see the latest NAV of all schemes, past performance of schemes, category performance, the risk factor for all schemes etc. 
 
Users can even take Paytm Money's risk profile assessment for free to understand their risk appetite before investing. The app is safe with 2-factor authentication. 
 
According to the report, users can track the movement of their money from bank account to mutual funds firms and back. Additional security with fingerprint and pin-based locks make the app more secure. When it comes to charges, Paytm Money will not charge any transaction fee on investments and withdrawals. 
 
All investment statements can also be accessed free of cost anytime, said the report, adding that users can also set up one-time auto pay eMandate or Physical Mandate and automate all your investments. 
 
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Start with your investments in 3 simple steps, according to paytmmoney.com
 
1. Login with your Paytm Credentials: Use your Paytm registered mobile number or email ID to sign in to Paytm Money account.
2. Add a few details and become investment ready: Enter your PAN & check KYC status. Share a few details and become investment ready within minutes. 
3. Make your First Investment: Search mutual fund schemes by ratings, ideas, fund managers, AMCs and more