Home / Companies / News /  Neobank Fi launches Mutual Fund investments in its app. Check details
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Fi, India’s fastest-growing Neobank, on Thursday announced the launch of its investment platform to help users invest their savings into Mutual Funds. It further said, in the next couple of weeks, a P2P investing platform will also be launched for the users to diversify their portfolio up to 9% annual returns.

The company said in its statement, that the aim is to help users get better with their finances by educating them about Mutual Funds and making investing fun as opposed to an arduous task.

“Millennials today prefer investing from an early age that allows them to remain self-sufficient post-retirement, or even target early retirement. A study conducted by Computer Age Management Services (CAMS) shows that 1.7 million of the new mutual fund investors on its platform in FY18-19 were millennials, accounting for 47% of the 3.6 million total new accounts."

“Automating Mutual Fund investing for Millennials Fi takes this further by allowing users to set FIT Rules to automate their investing habits. FIT is a bot that acts on certain predefined conditions chosen by the user like setting aside 100each time you order food, etc. Money is moved from the user’s Fi savings account into a Mutual Fund of the user’s choice," the official release also said. 

This allows users to overcome the inertia towards starting investments and builds the habit of investing for millennials. At the same time, it makes investing fun and helps users grow their  wealth each time they spend.

Apart from condition-based investing (like investing each time you shop), users can also set up monthly, weekly and even daily auto-invest rules with Fi. Investing money in regular short intervals will average out their risks by breaking down their lumpsum investment amount into several installments, with amounts as low as 100. The app also allows users to invest in lumpsums.


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