Context : I have been saving up money for over a year now and not actively invested it anywhere due to x reasons.
Now I want to start SIPs as I have achieved my emergency fund and want to reap the benefits of the power of compounding.
Q.1) Which apps offer the option of one time lumpsum + continuing the monthly SIP in a fund? (Lumpsum to makeup for what I failed to do last year) Is what I am thinking the best strategy and practical? if not, please suggest
Q.2) Recommend me an app with a good customer support team , good number of fund options to invest and have hassle free deposits and withdrawals ?
PS: I have downloaded Groww and I don't see it offering many funds to invest into.
Download 2-3 apps like zerodha, groww... and try them out... choose the one which is to your convenience. I personally use groww.. but all the apps offer same features.
Since you are beginning invest 500 or 1000 in any fund, keep for a week or so and then withdraw it. You will get to know the entire process from start to end. You will know how much time it will take to get Nav units to how many days for redemption all that...
Once you are confident, then start SIP. Most of all schemes offer both lunpsum and SIP.
Happy investing
Do these apps provide an option to change the SIP amount multiple times in a time period?
Because I see on Groww we can only increase by a fixed amount/percentage on 6M interval.
What if I am laid off and want to reduce SIP amounts or what If i receive a heavy bonus and want to invest extra SIP of 50k only for a month?
Cool! Thanks for your points. Just to clear 1st qn, what I meant was an option of investing where I can do lumpsum of say 1L at the time of opening and then continuing in the same fund with SIPs of 10k.
What I mentioned here makes practical use case sense to me at least, do applications offer this scheme?
Hi Folks,
I was using Paytm Money App for MFs. Started around last year and kept my Auto Pay limit to 25k which I can’t increase now.
So I was planning to move to another app like Groww or any other.
Which app do you use currently ...
Need your suggestions advices in which app is better for long term sips. My concern is the app should be easy to understand has less hidden charges and can be looked after for 10 years atleast.
Kuvera
Helllo All . I am a newbie in mutual fund investment.
Need suggestion to start SIP .
Which is best reliable app in context of UI , overall stability , buying and withdrawal, consistancy
Below are few options I have explore till now ...
Guys I have saved almost a lakh and want to invest this as a lumsum to an SIP kindly advise which fund to choose..or you guide me! any kind of suggestions will help.
Still new to this..
Thanks
So I started working full time for 10/2022 but I had some family responsibility so I just focused on saving as much cash as I could, now that that work is done (still have to pay some money back to people) I want to start investment at l...