For those who fall in large tax bracket and need to pay a hefty tax on their income, the ELSS can be the best way which helps them to get the tax saved and also handsome return on the amount invested in this option. The mutual fund companies offer a huge range of products to the market and investor, among which one is the tax saver fund. However, there are many other funds with each of the company, such as small-cap fund, mid cap and large cap. The investor needs to choose any of these options as per his requirements. Those who want to save on tax can go for the ELSS while others who want to get handsome return can go for the mid cap, small cap or even large-cap funds.
A mutual fund is an avenue where investing the amount is very simple. One can go for a lump sum payment or in instalment via SIP. In SIP also the amount is deducted from one’s bank account directly and hence one need not worry about paying the concerned company every month. There are endless options in the market available as far as the schemes are concerned. The technology has made it much simpler for the investors as one can invest the amount here with the help of the direct mutual fund app also on his smartphone.
How to use the app?
Here one must note that each AMC in the market has got its app developed and available on the play store as well as other platforms. The investor needs to download the app first. After installation of the app on the smartphone it may ask for the KYC documents which one can upload in soft copies. The system verifies the documents and the KYC status is shown as activated. Once the KYC is done, the investor can link his bank account with the app. He can choose any of the funds which are shown on the app and start investing in the same. The investor can go for one shot payment or SIP where he can invest the amount in monthly mode.
The amount can be set to be deducted from the bank account directly on the given date while investing. Hence with the help of direct mutual fund app, one can easily start investing in the market. The most important thing here is one can send all the requests from the app only and can also check his folio, which can help one get complete idea about his investment. One can check the NAV, available units in his folio, the total amount of investment and also raise a request for withdrawal from the investment.
In the app, only one can choose an option such as dividend or growth as well as dividend payout or reinvestment. The investor can also check the dates of investment and withdrawal and link more than one bank account from which he wants to pay the AMC for the concerned investment.