Paytm Money Review for free Mutual Fund Investment in India

With the increased penetration of smartphones in India, users now have everything from e-commerce to healthcare at their fingertips. The same is also true for mutual fund investments in India. 

Apps like Paytm Money make it easier for standard users to invest their hard-earned money. Earlier users would need to go through brokers or individual asset management companies to invest in the market – a process that is often long and cumbersome, leaving users with little visibility on how their investments are performing. 

Users can now invest their money using Paytm Money by the click of a button on their smartphones. Check out this Paytm Money review for mutual fund investments before you begin investing.

What is Paytm Money?

Paytm Money is an online investment and advisory platform targeted at first-time or novice users. Its a subsidiary of Noida-based One97 Communications, the company that owns Paytm, India’s largest digital payment platform. Paytm Money was established in 2018 and is headquartered in Bengaluru.

Paytm Money provides low-cost regular and direct investment plans trying to help users save money by eliminating traditional broker commissions that users would otherwise have to pay to invest through these plans.

Currently, the Paytm Money app allows users to invest with 40 different asset management companies. With well over a million users currently registered, the app has over Rs 5,000 crore being managed through the platform.

Paytm Money App Review

Given the vast amount of competition in the space, we take a quick look at the Paytm Money app, its pros and cons, and the general usability of the app.

The Paytm Money app is one of the best apps out there for users with a Play Store rating of 4.1 stars. The app is fairly visual, with some robust features and processes in place for users, described below:

1. Registration

The registration flow is reasonably straightforward, mainly if you are an existing Paytm wallet user. Users can login using their Paytm credentials and complete the KYC process (if KYC is not completed already). Ease of setting up the account is probably the most significant advantage of the Paytm Money app. It can, however, be a long process for those who do not have a Paytm account.

2. Features

Like other apps available in this space, Paytm Money also provides a host of features for the users to take advantage of. Through the app, users can get recommendations on top-performing funds, expert opinions on funds, as well as a detailed dashboard and analytics associated with their investments. The app also allows you to track investments made through other platforms.

Apart from the ones mentioned above, Paytm Money offers a superior graphical view of the data. This makes tracking of funds, the performance of the market, and one’s investments much easier and gives the user a seamless experience. Further, the app also offers users a chance to shortlist funds that they would want to invest in. These shortlisted funds can be grouped as per user’s classification, making it easier for them to track funds of their interest.

Combining the points mentioned above, along with the simplistic and easy to use interface, the Paytm Money app is the right candidate in this space and justifies its large market share.

3. Is Paytm Money safe?

The Paytm Money app is registered with SEBI and hence is a trusted platform for investments. Further, all user information is encrypted so that there’s no chance of data breach, thereby making the app reliable for users.

4. Fees & Charges

The Paytm app is free to use. The users are only levied fees on their investments as per the commissions of the respective asset management companies.

5. Customer care

While there doesn’t seem to be a dedicated call center to address user queries, any issues can be raised via the Paytm Money support section. Users can also reach out to the customer care team via email.

Paytm Money vs. Others

Given the intense competition in this space, the Paytm Money app does reasonably well when compared to some of the apps, while some others fair much better. We take a look at a few apps below:

1. Paytm Money vs. Groww

Groww and Paytm Money are well-known apps targeted at first-time investors. Both apps provide useful analytics around funds and help users track the funds of their choice. While Paytm Money offers a more graphical view, the Groww app comes with robust features and has a smooth user interface, giving it the edge over the Paytm Money app.

For more information, check out our article on the Paytm vs. Groww app comparison for stock and mutual fund investment.

2. Paytm Money vs Kuvera

Kuvera is one of the most established players in the market and fairs better than Paytm Money, concerning the features that it offers. The Kuvera app provides users with 44 asset management companies (compared to 40 in Paytm Money), has a more robust security framework, and provides an impressive goal-setting feature that trumps the Paytm Money app.

3. Paytm Money vs. Zerodha

The Paytm Money app fairs better than the Zerodha app because of its relative ease of use, better graphical representation, and a better set of information provided to the user. Zerodha app is limited because of the need to create a Demat account to transact and also doesn’t provide a detailed set of analysis and fund recommendations like the Paytm Money app.

4. Paytm Money vs. Upstox

Paytm Money and Upstox are comparable apps given that both offer good brokerage services on regular plans. However, Paytm Money has the advantage given its broader product set, including commodity trading, mutual funds, banking, and SIP investments. These are currently not available on Upstox. Further, the in-app chat feature and superior user interface enhance Paytm Money’s edge over Upstox.

5. Paytm Money vs. Scripbox

Similar to Upstox, Scripbox is also a brokerage company offering low-cost regular plans. The edge for Paytm Money comes from the better user interface, larger product set, and quicker turnaround time as compared to Scripbox, despite Scripbox providing a relationship manager to help users with trading tips.

The Bottom Line

Overall, the Paytm Money app lives up to industry standards and provides users a host of features to make the most of their investments. The additional features offered by the parent Paytm app, such as banking and shopping on Paytm Mall, only enhance the appeal of this app.

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