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Paytm Money – Mutual Funds & Stock Investment App – Review

Mutual Funds

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August 5, 2020

Paytm Money – Mutual Funds & Stock Investment App – Review

Paytm Money – Paytm Money is a mutual fund and stock investment platform. Investors looking for mobility while investing in mutual funds, equity and NPS opt for Paytm Money. As the name suggests, it is a subsidiary of Paytm. Paytm App and platform is growing popularity among investors. Paytm Money App is downloaded by more than 50 Lakhs users as per Google Play.

There are many mutual fund and stock market investment platforms available in India such as scripbox, groww, Kuvera, CAMS etc. In this post, we will review key features, benefits, and other key details of Paytm Money. The prime objective is to find out the suitability of this platform for the investors.

Why Paytm Money?

Paytm is a trusted name in the finance world. It was founded 10 years back. In addition to the payment app, Paytm is also running a bank. This means Paytm Money is backed by a trustworthy brand.

Paytm provide a facility to invest in regular as well as direct mutual funds. You can make use of all types of payments such as net banking, UPI, and one-time mandate. The facility is available on the move also. Key features and benefits of Paytm Money platform are given below.

Also Read – How to invest in Mutual Funds via Paytm Money?

Key Features & Benefits of Paytm Money

Investment in Mutual Funds, Stock Market & NPS

Paytm Money provides facility to invest in mutual funds, the stock market as well as NPS retirement funds. This means you can invest and manage multiple investments on a single platform. The platform offers the facility to invest in regular as well as direct mutual funds.

Portfolio Tracking

You can track your entire investment portfolio on the move. The app also allows you to upload your current investment on Paytm Money and you can track it on day to day basis. You can also create your watchlist and get real-time market information. You can also get a price alert on your mobile.

Multiple payment options

The platform offers a facility to select your payment options. You can make payment using net banking, UPI, and a one-time mandate. You can register multiple banks for doing the payment. The entire process is paperless.

Paytm – Investment Pack

Paytm Money offers a unique facility of Investment Pack. It is an asset allocation strategy. The strategy is decided based on age profile, number of dependents, earning potential, risk-taking capacity etc. The system classifies investors into Aggressive, Moderate, or conservative. This is done via an investment pack. This facility is useful for new investors.

SIP Innovation

The investor can invest using SIP route or via a lumpsump route. Under SIP you can get various services such as asset allocation in SIP-based on risk profile. An investor will get the facility of Play, Pause, Increase, and decrease SIP. It is very convenient for low risk and a new investor.

Faster Account opening

The Paytm Platform can be ready in a few minutes. An investor just needs to do KYC to start investing in mutual funds. KYC process is completely contactless and it can be done on app by uploading PAN card and address proof via App.

Benefits of Paytm Platform

No charges on investment – No hidden cost involved.
No hidden commission when you invest in mutual funds.
No transaction fees while buying and selling mutual funds.
Free and Digital KYC on Mobile.
Free Risk profile assessment.
Fully Mobile enabled. Invest on the move anytime anywhere from the mobile app.
AutoPay Investment and One-time mandate facility.
Real-time status updates and notification.
Invest from 5 different bank accounts.
A higher level of security with two-factor authentication and data protection.
Multiple payment method net banking, autopay & UPI.

Drawbacks of Paytm Platform

The facility of switching investment from one scheme to another scheme is not available.
No Option for a Systematic transfer plan (STP) or systematic withdrawal plan (SWP).
The Facility of an automatic increment of the SIP amount periodically is not available.

How to open and transact on Paytm Money?

The steps to open Paytm Money account are given below.

There are two methods to open Paytm Money account. (1) Mobile App (2) Website.
Download & install Mobile App via Google Play.
Click on Signup button. (The method remains same of website also)
Enter your mobile number and e-mail ID. Click on Sign Up button.
You will be prompted to enter password.
Enter the password and provide basic information such as name, age, gender etc.
Click on the next button to create your account.
Once your account is created you can login with username and password.

You will be able to see dashboard and profile detail. Under profile you will get option to do KYC. You need to enter your bank detail as well as PAN card detail to complete KYC.

How to transact?

It is very easy to do transaction using Paytm Money App. You will get dashboard view where you can select top rated mutual funds, equity funds, tax saver funds etc.

Just select Top rated mutual funds and select suitable mutual fund based on your risk appetite. Click on the Invest now button.

Press the Invest now button and enter SIP or lumpsump investment amount.

That’s it! You can build and track your portfolio with a click of button using this app.

Conclusion

Looking at the mobility and features it is but natural that the Paytm Money is a very good mobile platform for the investor. The best part is an investor can manage equity, mutual funds at a single place on the move.

Have you used Paytm Money for investment? Do share your feedback and experience in the comment section.

11 Best Startup Ideas with low investment

Business Ideas

Shitanshu Kapadia

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August 3, 2020

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11 Best Startup Ideas with low investment

Best Startup Ideas – A success of any startup ideas depends upon a unique and innovative business idea. Everyone dreams of starting own startup and becoming successful. But most of the people face a challenge in making the selection of a good startup idea. If you are one of them and looking for good startup ideas with low investment, you are at the right place.

Here is 11 Best Unique Startup Ideas with low investment. These business ideas are highly suitable for young and dynamic individuals who are ready to explore an unknown world full of challenges.

11 Best Startup Ideas with low investment

#1 Custom Cloths

Starting a customize clothes business is a wonderful business idea. A demand of customize cloth is increasing. People prefer customized cloth with printed name or content. If you have expertise in making customized cloth you can start a business of customized cloth. You require a team of creative people for designing cloths. Along with cloth you can sell other customized items. The investment required for custom cloth business is moderate.

#2 Fidget Toys

Fidget toys are toys designed to increase self-regulation and focus. Stating a fidget toys business is a very good startup idea. The world is crazy about fidget toys such as spinner. There are two ways of starting fidget toys business. First is buying and selling of fidget toys and second is developing such toys. You can make cubes, magnets, pen or any other items which help people to increase their concentration.

#3 Food in Container

Food in a container is one of the unique startup ideas. Food container attracts everyone’s attention and it is becoming popular in western countries and in India. It is a low investment business idea. Make sure to make container attractive with full of color. Make sure to place a container in the area nearby office or crowded place. You need to take a food safety license to start this business.

#4 Organic Food

People are becoming health conscious they are ready to spend money for good food. Thus starting an organic food startup is a very good business option. Organic Food business can be started either by producing organic food in farm or by purchasing organic food from a farmer and selling it in the market.

Also Read – 11 Innovative & Unique Business Ideas in India

#5 Online Education Courses

Everything is getting online and digitized, you can also take advantage of this by starting own online education business. You need to design various videos based courses based on various topics. You can take help from an expert to make a video and upload it online. You can either use a YouTube channel or you can buy your own website to upload online video tutorial.

#6 Online Advertisement management

Next startup idea is online advertisement management. The demand for people managing digital media and advertisement is increasing. Thus starting Online Advertisement management is another very good startup business option. You can either develop your own software or website to manage advertisements.

#7 Social Media Management

Another startup business is social media management. As a social media manager, you need to create interesting content that engages the audience and increase fan followers. If you have management and marketing skill along with technical skill you can become a social media manager. You may need to undergo proper training before starting.

#8 Seasonal Decoration

Seasonal Decoration is among very good startup business ideas. People are looking for unique decoration during festival season or during special events such as birthday party, anniversary party etc. If you have competent manpower and expertise you can start your own seasonal decoration business.

#9 STEM Toys

STEM toys are toys related to science, technology, engineering, and maths. These types of toys are used for enhancing the educational knowledge of kids. It is also used for doing project work. If you have an interest in this field you can start STEM toys business.

#10 Vacation Rental Business

Vacation Rental Business is a comparatively new concept. In this business, you are involved in renting properties in the tourist area. You require contact of people who are planning to rent their property. It is a new concept and requires some time to get success.

#11 Waste Management

Waste management is among one of the very good business ideas. There is a massive scope of waste management in a developing country. A waste can be used for making a useful item such as fertilizer also. If you have expertise in this area you can earn a lot of money.

11 Best Startup Ideas with low investment

IIFL vs Angel Broking – Stock Brokers Comparison

Stock Market

Shitanshu Kapadia

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August 1, 2020

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IIFL vs Angel Broking – Stock Brokers Comparison

IIFL vs Angel Broking – In stock market trading and investment stock brokers plays an important role. You have to be careful in making selection of the stockbroker.

There are two types of stock brokers available in the market discount broker and full service broker. Discount broker offer only trading services with low brokerage cost. On the other hand, full service broker provides all financial products under single umbrella. It is advisable to go for full service broker as you can manage all your investment at single place.

IIFL & Angle Broking are leading full service stock brokers in India. Let’s compare IIFL and Angle Broking side by side and try to figure out which stockbroker is appropriate for you.

IIFL Stock Broker – Review

IIFL, being a complete financial investment house, has entrusted itself as a dependable brand among the investor base. IIFL was established in 1995 as a full service stockbroker. It offers trading through different exchanges such as NSE, BSE, MCX with a presence across 4500 locations of the country.

IIFL Key Features

Online Account Opening Facility
Online Portfolio Management with single click
Margin Trading funding available
Wide range of trading platform range with mobile support
Virtual Portfolio Management Facility
Facility of placing orders via Charts
Financial Health Checkup Facility available
Offers multiple Brokerage plans as per need
Very good research and advisory services

IIFL Charges

Flat Brokerage Plan

Account Type	Flat Brokerage Plan (FBP)
Equity Delivery Brokerage	0.50%
Equity Intraday Brokerage	0.05%
Equity Futures Brokerage	0.05%
Equity Options Brokerage	1% of Premium or ₹100 per lot, whichever is high
Currency Futures Trading Brokerage	0.05%
Currency Options Trading Brokerage	1% of Premium or ₹100 per lot, whichever is high
Commodity Futures Trading Brokerage	0.05%
Commodity Options Trading Brokerage	1% of Premium or ₹100 per lot, whichever is high

Variable Brokerage Plan

Account Type	Variable Brokerage Plan (VBP)
Equity Delivery Brokerage	0.15% to 0.60%
Equity Intraday Brokerage	0.02% to 0.05%
Equity Futures Brokerage	0.02% to 0.05%
Equity Options Brokerage	1% to 2.5% of premium or ₹100 per lot, whichever is higher
Currency Futures Trading Brokerage	0.02% to 0.05%
Currency Options Trading Brokerage	1% to 2.5% of premium or ₹100 per lot, whichever is higher
Commodity Futures Trading Brokerage	0.02% to 0.05%
Commodity Options Trading Brokerage	1% to 2.5% of premium or ₹100 per lot, whichever is higher

Advanced Brokerage Plan

Account Type	Advance Brokerage Plan (Prepaid)
Fixed Charges	₹5,000 to ₹1,00,000
Equity Delivery Brokerage	0.35% to 0.05%
Equity Intraday Brokerage	0.04% to 0.01%
Equity Futures Brokerage	0.04% to 0.01%
Equity Options Brokerage	1% of premium to flat ₹20 per lot
Currency Futures Trading Brokerage	0.04% to 0.01%
Currency Options Trading Brokerage	1% of premium to flat ₹20 per lot
Commodity Futures Trading Brokerage	0.04% to 0.01%
Commodity Options Trading Brokerage	1% of premium to flat ₹20 per lot

IIFL Demat Account Charges

Demat Account Opening	Free
Demat AMC Charges	Free
Trading AMC Charges	Free
DP Charges	CDSL: ₹25.5
	NSDL: ₹24.5
Dematerialisation Charges	₹15 per certificate + ₹40 as postal charges
Rematerialisation Charges	₹15 per certificate or ₹15 for every 100 securities or part thereof whichever is higher + ₹40 for courier
Pledge Creation Charges	₹50
Pledge Invocation Charges	NIL

Margin

Equity Delivery	Upto 3x (18% Annual Interest)
Equity Intraday	Up To 15x
Equity Futures	Upto 3x
Equity Options	3x for shorting
Currency Futures	Upto 2x
Currency Options	2x for shorting
Commodity Futures	Upto 3x

IIFL Trading Platforms

IIFL Markets App – The app that goes by the name “IIFL Markets” has recorded the highest number of downloads (more than 10 Lakh downloads) for a stock market app in India.

The app is available on the Play Store (For Android users), App Store (For iOS users), and Microsoft Store (For Windows users).

The user-friendly app interface allows investors to place, cancel, and modify trade orders, apply for IPOs, and get access to free research reports, tips, news through in app notifications.

IIFL TTWeb – IIFL Securities Trader Terminal Web is their application that can be accessed through the web, which goes by the name of IIFL TTWeb. There is no need to download or install anything in order to run this app.

All you need on your computer, laptop, or even on your mobile phone is a compatible browser.

IIFL TT is a complete tool that facilitates the investors to trade and invest in various financial instruments such as:

Stocks
Derivatives
Commodities
Insurance
FDs
Currency/Forex
IPO
Bonds

IIFL TT.Exe – As the name suggests, this is an EXE file that needs to be downloaded from IIFL Securities secure website and then installed on your windows-based computer, laptop, or desktop.

This high-performance trading app has multiple features to offer to its trader base, including:

Real-time market quotes with a provision to add scrips in custom watchlists
Buy and sell order window just a click away across the trading app
Quick order execution
Smooth user experience for feature navigation and analysis
Security measures to combat any potential malware issues
Single sign-on available

IIFL TT Iris – IIFL TT Iris is a software that assists an investor in making investment decisions. Essentially, this software helps an investor in analyzing the fluctuations in the trade market.

Among others, the stand out feature of IIFL TT Iris is its ability to track scrips listed in the equity and F&O.

Further, the software can prove beneficial for traders in structuring their strategies as an investor can always test them on a small group of scrips and optimize the portfolio of their stock.

IIFL Mutual Fund App – IIFL Securities has a mutual funds app specifically aimed to cover all mutual funds related to trade, real-time news, analysis in addition to many other facilities.

Investors can trade in mutual funds through the app, and track the same. Another interesting thing about the app is that it is even accessible to users who don’t have a demat account with IIFL Securities.

Pros

Availability of multiple brokerage plans
SIP facility in equity, commodity and mutual funds
Multiple Trade Terminals with support of desktop, web and mobile
After Market Order Facility
NRI services available
Facility to invest in multiple segments
Wide Network branches across India and abroad

Cons

It is not 3-in-1 demat account
Demat debit charge is 0.05% per debit transaction

Angel Broking – Review

Angel broking, also a full-service stockbroker, was established in 1987. It also has memberships with different exchanges such as BSE, NSE, MCX, NCDEX. Angel broking is famous for the mobile trading app. Key features of Angle Broking are given below.

Angel Broking Key Features

A single demat account for share, mutual funds and bonds
Expert research and stock advisory services available
Simplified Trading Platform
One-click account opening digital process
Knowledge Center facility for learning

Angel Broking Charges

Brokerage Plan

Equity Delivery Brokerage	₹0 (Free)
Equity Intraday Brokerage	Flat ₹20 per executed order
Equity Futures Brokerage	Flat ₹20 per executed order
Equity Options Brokerage	Flat ₹20 per executed order
Currency Futures Trading Brokerage	Flat ₹20 per executed order
Currency Options Trading Brokerage	Flat ₹20 per executed order
Commodity Futures Trading Brokerage	Flat ₹20 per executed order
Commodity Options Trading Brokerage	Flat ₹20 per executed order

Angel Broking Demat Account Charges

Demat Account Opening	Free
Demat AMC Charges	Free or Rs.300 per Annum (depends on the initial margin)
Trading AMC Charges	Free
DP Charges	CDSL: ₹23.60
	NSDL: NA
Dematerialisation Charges	₹20 per certificate
Rematerialisation Charges	₹30 + Actual CDSL charges
Pledge Creation Charges	₹25 per ISIN (₹50 per ISIN for BSDA Client

Angel Broking Margin

Equity Delivery	Up to 6x
Equity Intraday	Up to 40x
Equity Futures	Up to 4x
Equity Options	3x for shorting
Currency Futures	Up to 2x
Currency Options	Up to 2x
Commodity Futures	3x

Also Read – Zerodha Vs Angle Broking – Stock Broker Comparison – Review

Angel Trading Platforms

Angel Broking App

Angel Broking App is smartphone app trading and investment. This app is powered by artificial intelligence. It runs rule based investment engine to get personalized stock recommendation. You can track your portfolio at single place. This app provides easy trading option. You can trade at any time with a click of a button.

Angel BEE

Angle BEE is Mutual fund app by Angel Broking. You can invest in mutual fund using this app effortlessly. In addition to making investment in mutual funds you can view your active SIP, transaction portfolio & equity investment on this app. This app also provides facility of expense tracker.

Angel SpeedPRO

Angel SpeedPRO is trading software that runs on your desktop. You can get single window trading experience along with speed and monitoring facility on this platform. It provides real time streaming rates for instant trading. You can monitor your portfolio as well as invest in mutual funds using SpeedPRO. It is simple and easy to use application.

Pros

Faster dematerialization process of equity
Operating of multiple family member accounts with a single id
UPI based payments facility offered
Advisory is advance with making use of AI

Cons

Only single flat brokerage plan
The web-based platform is made for the advanced user (Complex)
A lot of messages on stock advice and tips

IIFL Vs Angel Broking Comparison

Final Takeaway

IIFL & Angel Broking both are equally good. However, IIFL is superior as it offers multiple brokerage plan and also provide NRI services. It also provides very good customer support this includes Chat support and Toll Free Number. Angle broker is superior in terms of UPI based payment facility & advisory services.

Which one is best for you IIFL or Angel Broking?

*Note- All information given above is collected from the stockbroker website as on 1/8/2020. The account opening charges, margin, and other fees, etc can vary from time to time. You are requested to refer to the stockbroker website for the latest information.

10 Ways to Increase Credit Card Limit

Credit Cards

Shitanshu Kapadia

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July 30, 2020

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Credit Card Limit – Credit card is one of the most popular payment instrument nowadays. We can’t imagine our life without plastic-based credit card. The credit limit is an important part of a credit card. A credit limit is the maximum amount of credit that is given to the customer. If you have fully consumed your credit limit you will not able to use your credit card till the time credit card limit is restored. You need to pay your dues to restore your credit limit. Another alternative is to increase the credit card limit.

A higher credit card limit means higher purchasing power. An increase in credit limit means an improvement in your CIBIL score. If you have consumed your credit limit and you want to increase it. Here is readymade help. I am herewith 10 proven ways to increase the credit card limit.

10 Ways to Increase Credit Card Limit

#1 Increase your Fixed Deposit

One of the easiest ways to increase your credit limit is by making more investment in the fixed deposit. This works in most cases, especially if the credit card is secured credit card and issued against a fixed deposit.

This means if you add more amount to your fixed deposit or increase investment in the fixed deposit your credit limit will be increased. Generally, the card limit in a secured credit card is linked with a fixed deposit and it is 80% of the total investment.

#2 Improve your CIBIL Score

Another way to increase your credit limit is by improving your CIBIL score. Your CIBIL score indicates your financial credibility. A credit score is seen by banks and credit card companies while lending money.

Higher the CIBIL score better is your chance to increase the credit limit. You can refer to my earlier post explaining – 7 ways to improve your Credit Score.

#3 Ask for Credit Card Upgrade

You can also increase your card limit by asking for a card upgrade. You need to ask your bank about your eligibility for upgrading your current credit card. The upgrade in credit card purely depends on your payment history and relationship with the bank. The credit card upgrade works fine in most of the cases. However, you need to consider additional annual fees applicable to the credit card upgrade.

#4 Request for Limit Increase

You can also request the bank for a limit increase. Many banks provide online options for increasing the credit limit. Whenever bank receives such request they will check your CIBIL score, past payment history, and your current monthly income. Bank may ask proof of your current monthly income. This is to assess your creditworthiness. If you have maintained good credit history your request will be accepted.

#5 Apply for a new credit card with a higher limit

Another way to increase your credit limit is by applying for a new credit card with a higher limit. You can apply it to the same bank or another bank. Again approval of your new credit card with a higher limit is based on your CIBIL score and your present income. This strategy will work only if you have one or two credit cards. If you have multiple cards it may not work. If you are finding difficulty in selecting a new credit card you can refer to my earlier post – Best Credit card for 2020-21 – Top Credit card picks.

#6 Use credit card for doing foreign currency transactions

If possible, use your credit card for making foreign currency transactions. It is one of the simplest ways to increase your credit card limit. Bank charges foreign currency mark up fees on foreign currency transactions. The charges go up to 3.5%. It is a very good source of income for the bank. Hence, banks are looking for people who are purchasing things in foreign currency. Bank will increase the credit limit for these types of customers easily.

#7 Show your Income Increment

You can also increase your credit limit by showing your income increment. Whenever you got an increment in the job, you can approach the bank asking for credit limit enhancement. As banks will see your income increment proof they will be happy to enhance your credit limit.

#8 Use your credit card frequently

It may sound unusual but it is true that if you use your credit card frequently and repaying your bills on time you are likely to get card limit enhancement. If you are not using your credit card or using it for only a few transaction bank may feel that you don’t need enhancement in the credit limit. However, when you use your card frequently make sure not to utilize your credit limit above 70%. This may adversely affect your credit score.

#9 Opt for Secured Credit card with higher Limit

The next full proof way to increase your credit limit is opting for a secured credit card with a higher limit. A secured credit card is issued against a fixed deposit. You need to make a fixed deposit equal to 80% of your credit limit for these types of cards. For more information, you can go through – 7 Credit Cards against Fixed deposit

#10 Wait for Automatic Limit Enhancement

If none of the above options work for you can do nothing but wait for automatic limit enhancement. Many banks review the customer credit card usage and credit score periodically and send a request to the customer for the automatic limit enhancement.

Over to you –

I hope you must have tried for enhancing your card limit. I request you to share your experience and method that worked for you in the comment section given below.