We all know the benefits of investing so I won’t bore you with that. This is to tell you how you can take the most advantage of your 2 in 1 NiyoX bank account. How you can use this account to get things done, experiment, and save!
1. Get online KYC for investments registered for free
KYC registration is mandatory for investments in mutual funds and stocks. With NiyoX, you can skip the hassles of the offline process and get it done completely online and in a paperless manner. Once completed, you are good for lifetime and can invest in mutual funds from any platform.
2. Start saving with an amount as low as ₹100
You can start investing with just ₹100 to get comfortable first. In case you don’t know where to start from, we have got you covered with a detailed analysis for each fund which is easy to read and understand even for a newbie. Just devote some time to explore a few funds and start with a small amount to get comfortable.
3. Start SIPing to get into the habit of saving
SIP is the best way to instill the habit of saving every month. It’s recommended to save first and then spend. You can even park the remaining money in your bank account at the end of the month. Whatever works best for you. Set up SIP and enable auto-pay for a hassle-free investing experience.
4. Track all your mutual fund investments in one place
If you are already investing in mutual funds through different platforms, you can simply import your entire portfolio in just a few clicks. NiyoX then becomes one place to track your savings account balance and your mutual fund investments. The best part is that you can even invest more or redeem from the funds which you have imported through your NiyoX app itself.
5. Save commission on your existing investments
If you are already investing in mutual funds, check if your platform provides regular or direct funds. The easy way is to check the fund’s name. Direct funds will always mention the word “Direct” in the fund name. But if your funds say “Regular” or neither of these 2 then you are investing in Regular funds. You are getting slightly lesser returns because you are paying commission out of your returns to your platform.
Stop your SIPs or any further investments in regular funds and invest in direct funds only. You can invest in a range of zero commission direct funds from top AMCs on NiyoX and start earning higher returns. We’re also coming up with a feature soon where you’ll be able to switch from regular to direct funds in a single click.
Hmph! A lot to do, right? Take one step at a time and utilize your NiyoX 2 in 1 account to its fullest. Till then we’ll continue working towards better and hassle-free banking and investing experience for you.