Financial stability is a cornerstone of a secure and content life. To achieve it, timely and well-planned investments are essential. Every individual harbors both short-term and long-term financial goals, and regardless of the objective, one of the most effective methods to realize them is through mutual fund investments.
Mutual fund apps in India are readily available to facilitate investment. However, to maximize returns and make informed investment decisions, selecting the best mutual fund app is of paramount importance. These apps are backed by professional fund managers equipped with the expertise and resources to navigate the complex world of investments.
Exploring Mutual Funds
Mutual funds, as the name implies, are investment instruments that pool funds from multiple investors with the aim of acquiring various securities, including bonds, stocks, and other assets. These funds are professionally managed by experienced fund managers. The value of mutual funds is closely linked to the performance of the underlying securities, and they offer investors the opportunity to diversify their portfolios and gain exposure to a wide range of assets with a relatively modest investment.
The Benefits of Mutual Fund Investments
Start Small: Mutual fund investments can commence with amounts as low as Rs 500. This flexibility eliminates the need to accumulate a substantial sum before venturing into investments, as Systematic Investment Plans (SIPs) can be initiated with minimal capital.
Tax Saving: For tax-conscious investors, investing in Equity Linked Savings Schemes (ELSS) funds is a prudent choice. This investment avenue allows individuals to reduce their taxable income by up to Rs 1,50,000 under Section 80C of the Income Tax Act 1961.
Higher Returns: In the realm of long-term investments, mutual funds have the potential to deliver superior returns when compared to individual stocks. This advantage arises from the typically volatile nature of stocks.
Lowest Lock-In Period: Tax-saving mutual funds have remarkably short lock-in periods of just three years. This is significantly less compared to other tax-saving options like fixed deposits and Public Provident Fund (PPF), which require a maximum lock-in period of 5 years.
Choosing the Best Mutual Fund App for 2023
When it comes to selecting the best mutual fund app for the year 2023, Bajaj Finserv stands out as a compelling choice. Please note that we are not endorsing any particular brand or organization, but sharing a personal experience to help our readers make informed investment decisions. Here's a step-by-step guide to get started:
Download the Application: Find and download the Bajaj Finserv app from the Play Store or App Store.
User Registration: Sign up by entering your mobile number and following the on-screen prompts.
Exploring Mutual Funds: Navigate to the Mutual Funds section under the "Investment Bazaar" on the app's homepage.
Selecting Funds: Explore the available funds and choose the ones that align with your financial objectives and risk tolerance.
As you embark on your journey to invest in mutual funds, remember to leverage the convenience and accessibility of mutual funds apps in India. In today's tech-savvy era, investing is as straightforward as ordering groceries through your smartphone. Embrace these digital tools to unlock the potential of your investments and pave the way for a financially secure future.