December 8, 2016:
ETMoney, the Times Internet backed personal finance app, has announced the launch of a unique solution to save taxes for FY2016-17. The new feature will enable users to get done with their tax saving investments in under 2min, completely paperlessly and right from their smartphone.
“We have been continuously innovating for our users to manage, grow and save their money. The tax solution progresses this mission and helps our users to save taxes seamlessly.” said Mukesh P Kalra, COO ETMoney.
The ETMONEY ELSS Tax Solution
Pre-investing help and guidance
By analyzing performance of more than 1000+ ELSS funds, the solution creates a portfolio of best performing ELSS funds. To maximize returns, it also recommends the amount one should invest in each of the funds in the portfolio. The users can also customize the solution according to their preferences. This provides the comfort and confidence to anybody who wants to save tax through ELSS.
Once the user has finalized the portfolio, they can invest in the whole portfolio in a single tap. The is a big advantage as the user will not have to make the investments separately for each of the fund in the portfolio. The transaction experience is seamless and handholds the user throughout the process via smart notifications.
Once invested, user can see the real-time performance of the tax saving solution separately on a dashboard. The consumers don’t get this view easily today. One can also make additional investments in the solution in a single tap, it’s as simple as doing a top-up for phone recharges.
The whole process of investing in ELSS Portfolio takes less than 2min, whether you are new (Non-KYC) or an existing mutual fund investor.
The app also offers an automated way of bringing all your money into one place, be it your expenses, bills, coupons or investments.
Mutual fund transactions was added 2 months ago and has seen very strong pick-up.“Though early days, the transaction volumes are growing at 75% week-on-week. Combining this with market growth, we are eyeing to hit Rs 10,000 crores in AUM by 2018-19” said Mr. Kalra.
Currently available on Android, the app was recently featured by Google as a top personal finance app and is used by more than 10 Lakh users. The company is coming soon with an iOS version of the app by end of this year.
The app can be downloaded here.