Invest in Mutual Fund SIP via WhatsApp

Mutual Fund SIP WhatsApp

Investing in Mutual Fund is just one WhatsApp message away. The new facility of starting SIP via WhatsApp is launched by Wishfin. Wishfin has simplified entire process of mutual fund investing. Now doing SIP investment is as simple as chatting with friends. It is instant, smooth and error free. Prior to this Wishfin has already launched facility to get credit score on WhatsApp.

In India almost everyone is using WhatsApp, looking at the popularity of WhatsApp Wishfin has launched this facility. They claimed that its world’s first-ever SIP facility on WhatsApp. Whether tax saving, short-term investing or long-term wealth creation you just need to choose your goal and complete the chatting to start SIP instantly. In this post, we will take a look at steps that you need to follow to start your mutual fund investment via WhatsApp.

Steps to start Mutual Fund SIP via WhatsApp

There are two methods to start Mutual Fund SIP via WhatsApp.

#Web-based method to start Mutual Fund SIP via WhatsApp

  • Visit Wishfin website for starting a SIP and enter your mobile number in the form.
  • Click on continue with WhatsApp. It will display success message saying “WhatsApp has been sent to you. Please continue using it.
  • Now you will receive a message from Wishfin Mutual Fund on your WhatsApp. In order to start the investment, you need to reply with Yes.
  • Next in entering your Permanent Account Number (PAN). Now select your financial goal via SIP investment. Mention the monthly SIP amount.
  • It will display a list of recommended funds. You can select any one fund from the list.
  • Next is choosing your SIP start date and amount.
  • Now provide your personal details such as full name as per PAN card, mother’s name, gender, date of birth and full residence address.
  • Next is mention your email ID, annual income details, and your profession details.
  • Share your bank account details such as Bank Name, IFSC code, Account Number for auto SIP deduction.
  • Confirm the submitted details.

Once above steps are over, your SIP is registered successfully with Wishfin.

Also Read – Free CIBIL Credit Score on WhatsApp

#Miss call method to start Mutual Fund SIP via WhatsApp  

  • Give a missed call on 8447782222.
  • Your mobile will be added to WhatsApp Chat. Make sure that WhatsApp is installed and operational on your mobile.
  • You will receive a message on WhatsApp asking about your personal information as described in the first method.
  • Once you provide the required information your SIP will be registered with Wishfin.

WhatsApp SIP

Should you use this facility to start Mutual Fund SIP?

At the first instance, the facility to start Mutual Fund SIP seems to be very easy and smooth. However, few shortcomings of this method are given below.

The method introduced by wishfin is a lengthy method. After providing a mobile number still, investor needs to provide a lot of information such as PAN card, Full name etc. They could have thought to fetch information according to a mobile number from KYC database.

Once you answer a certain set of question it will display a set of recommended funds and you need to select any one fund from the list. You cannot invest in the fund which is not part of the list.

For registering SIP you are sharing a lot of personal information via WhatsApp chat. All these information are stored on WhatsApp server which will be a security concern.

It works as roboadvisor and suggests few mutual funds. However, this funds may not be correct fit as per your financial goal.

It is recommended to do independent research before investing in any of the mutual funds.

I hope the information given above will help you in taking right investment decision about Investing in Mutual Fund via WhatsApp.

Article by Raviraj

Raviraj is the man behind moneyexcel.com. He is graduate in finance, engaged in blogging since 6 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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