Upwardly Review | Is it a good investment platform?

There was a time when all the investments we made would happen through a broking firm. We would need to call a stockbroker to make a trade and pay hefty commissions while doing so. Today, with the help of technology, this entire process can be executed with a few taps on your smartphone screen through investment platforms.

Upwardly and other investment apps are tailored to fit the requirements of both new and experienced investors. Through investment apps, users can manage their investments and avail a variety of services without having to pay the exorbitant fees. In this article, we will review the Upwardly app.

Founded in 2015, Upwardly is a Bengaluru-based investment platform that allows users to create and invest in mutual funds without any subscription or transaction charges. The app has the crucial advantage of supporting all 43 asset management companies on its platform. To assess the app, let us evaluate its performance across some key criteria:

Upwardly Review
Image Source: Upwardly.in

Getting started: How to use Upwardly?

Creating an account seems to be a fairly simple process on Upwardly. Users just need to provide their basic login details (email ID, password, mobile number, etc.) and complete the KYC process by providing PAN card and Aadhar card details. The steps are simple and well laid out on the app for users to follow.

Users can then create their profile and select from the three options depending on their age and investment experience. This step helps curate the content as per the user’s requirement, making the app much more beneficial to the user.

Key Features of Upwardly

The Upwardly app comes with a host of features to help users make the right decision while investing their money. The following are some features that enable users to get the most out of the Upwardly app:

  • Goal setting: Probably the most well thought off feature on the app, users invest towards goals such as buying a dream house, saving for a vacation, etc. Based on the user’s income, goal amount, and time to accumulate the amount, the app suggests mutual fund options towards reaching the goal in the stipulated time. This feature is helpful for users who have set goals and are unsure how to go about them.
  • Classification of mutual funds: The Upwardly app also classifies mutual funds into buckets for users to choose from. Some examples of these classifications include tax-saving funds, blue-chip companies, high-risk, high return funds, etc. This feature is helpful for users who have a moderate understanding of how they would want to invest. The bucketing of funds provides options for these users in a structured manner, making their investment choices easier.
  • Dashboards and tracking: One of the key uses of any investment app is to be able to track a user’s investment from a single platform. The Upwardly app enables this well with a neat dashboard option to monitor all the user’s funds. The app also allows users to import their investments made through other apps or distributors so users can monitor all their holdings from the same platform.

Ease of use

Most investment apps come with a good number of features and services that can leave the user overwhelmed as they struggle to navigate through the app. On Upwardly, however, the basic usage of the app is simple to understand, and the user flows are logical and easy to comprehend, even for novice users.

There can be a problem that arises when users dig deeper into the more elaborate features. This is because some features are hidden deep inside the app and can only be explored if users choose a specific set of options. The lack of visibility of some features on the home page can leave the app underutilized.

Upwardly Customer care

Upwardly provides a dedicated relationship manager to each of its users. This provides a definite advantage in terms of superior customer experience, mainly when most other investment apps only take complaints via the support email. The Upwardly app also provides call center support for general queries.

Is Upwardly safe?

Yes! Upwardly is registered with both SEBI as an investment advisor and with AMFI as a distributor. The app also provides bank-grade security and data encryption for user account information to prevent misuse. Further, all transactions are routed via BSE. Thus, Upwardly does not hold the user’s money at any point during the transaction.

The bottom line

Upwardly has a lot of positives working in their favor, centered around its impressive goal-based investment feature and its superior customer service through dedicated relationship managers. While it may take a novice user time to get used to the app and make the most out of it, it is worth a shot for all users looking to take mutual fund investments seriously. We hope this Upwardly Review gives you the information you are looking.

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