What is Fincash Review? Login and invest in SIP in Mutual funds
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- Updated On:24-Mar-2022
- Replies:2
Short Answer
Fincash is a yet another online investing platform that was started in 2016 or you can call it a fintech startup. Having raised funding, it has grown fast to give tough competition to other market players.
Detailed Answer
I know, there are so many investment platforms these days, one is likely to get confused which one to select.
Briefing you, Fincash is a Mutual fund investment platform that offers simple solutions to your investing needs (as their site says).
Fincash: Key Products
The following are its main attractions:
- SavingsPlus
- SmartSIP
- Tax Savers
- New Fund Offers
What I like is, they allow you to practice:
- Smart Investment: Funds are selected by industry specialists.
- DIY approach: You can explore and choose funds yourself.
Although, its SIP plan sounds attractive, but no one can guarantee high returns in mutual funds. The returns are influenced by market fluctuations.
However, the investing platform looks easy to use and suggests you solutions based on your long term goals.
Fincash Overview
Here comes the detailed review of Fincash Platform
Fincash is a Mutual Fund platform that provides various tools and techniques to select the best Fund as per your needs. It uses technology and extensive market analysis to get you the best results possible.
Fincash was founded by Gaurav Perti and Pawan Kumar. Both individuals have more than a decade of experience in the financial field.
Fincash is a platform where you get a personalized investment experience mapped to your goals. It has partnered with more than 30 well-known AMCs such as ‘Axis Mutual Fund’, ‘SBI Mutual Fund’, ‘HDFC Mutual Fund’, ‘ ICICI Mutual Fund’, etc.
Products and Features of Fincash
Fincash provides a range of products to its users. Some of the key products available on the platform include,
- Product Solutions
- Mutual Fund viewer/screener
- Investment goal Calculators
Let’s look at each of these products offered by Fincash in detail in the next part.
1. Product Solutions
Under ‘Product Solutions’, Fincash compiles a range of investment tools to create a holistic and personalized investment tool as per the user. The first product under this section is ‘SavingsPlus’. This provides with an investment vehicle where you can earn double the interest when compared to your savings bank with a minimum of 1 day. There are different funds listed under the risk profile and time horizon of an investor.
The second product under solutions is ‘SmartSIP’. Under this, you get a range of funds consisting of different Equity Mutual Funds from various sectors (such as Large Cap, Mid Cap, Balanced Funds, Global Funds, etc). The main goal of this feature is to give you the flexibility to choose the best funds as per your needs.
The third product of Fincash is the TaxSaver where you can save taxes on your investments up to Rs 46,000 per year under Section 80C. Under this category, you get a choice of many ELSS funds, from which you can choose your ideal fund for investment. You can also access a tax saver calculator that will give you an idea of how much to invest in order to get the best tax benefit possible.
2. Exploring and screening Funds
The second feature of this platform is Exploring funds. Here you get a plethora of Mutual Funds that can bewilder you easily. To get you, your best-suited funds there are many filters that you can use to filter out Funds.
There are various parameters using which you can filter out stocks.
● Category
● Fund House
● AUM
● Fund Option
● Fund ratings, etc.
With these filters, you can narrow down your potential list of Mutual Funds to a large extent. These very accurate filters can assist you to make a more rational decision while picking a fund for any goal.
3. Calculators
The third feature of the platform is also a very distinctive feature. It’s the Calculator. Fincash provides a range of calculators that can be fun to play around with but are highly effective. The main purpose of these calculators is to figure out how much money do you need for a specific goal later in the future. According to your need, the calculator will also show the current SIP or Lumpsum investment that your need to do in order to achieve that goal.
The best part about this calculator is, it not only calculates the total money and the return percentage required. It also provides the means as Mutual Funds mapped to the goals that can help you to achieve your goals.
Some of the major calculators that you can use to figure out your goals are,
● Tax Calculator
● Growth or Lumpsum investment
● Growth of SIP investment
● Retirement planning calculator
● Higher Education calculator
● House Purchase Calculator
● Vehicle Purchase Calculator
● Any other specific goal.
Fincash Review
Looking at the above features and products, it can be said that Fincash is a comprehensive package for Mutual Fund investors. Any individual who is confused by the thousand fund options in the market can shortlist good funds using the Mutual Fund filter of Fincash.
Apart from the platform is completely free to use and you don’t have to pay any fee while buying or browsing through options. It also offers other facilities such as the SavingsPlus feature where you can get mutual funds that can offer double the rate of a Savings bank account.
The ‘Calculators’ on Fincash is another interesting tool that every investor can use. You can select any of your future goals and map them accordingly with the help of using the calculators.
All things considered, Fincash is an excellent platform for Mutual Fund investors as it offers a range of Funds ranging from Equity, Debt, Hybrid to NFOs (New Fund Offering). Do have a look at it if you are confused about choosing a Mutual Fund.
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Discussion (1)
Yes, Groww app is completely safe for mutual fund, stock investing and trading. As a popular mutual fund investment plaftorm, Groww established itself quite well in the past few years. Now, it has also enetered the stock broking space so it's really good to see new entrants amid existing top discount brokers in India.
Fixed Deposit (FD) are saving tools offered by banks to deposit lump sum amount for a fixed period of time on a higher interest rate than saving accounts. Mutual funds are investment products which pool money from numerous small investors to create a fund.
No, a demat account is not required for SIP or Systematic Investment Plan because a SIP can be purchased directly from an AMC (Asset Management Company), a third-party financial advisor, your bank, or other online platforms.
ELSS or Equity Linked Savings Scheme is a type of tax-saving investment instrument. It provides returns, similar to equity funds and offers a tax reduction under Section 80C. If you invest in a SIP method, every contribution towards the scheme will be considered as a separate investment and will incur a 3 year lock-in period.
The introduction of Systematic Investment Plan (SIP) in the mutual fund is regarded as one the major breakthrough in the financial sector. It has helped to attract a new class of investors in the sector who were not comfortable to invest a lump sum at a time.
SIPs or a Systematic Investment Plan is a great tool to build money in the long run with a minimum time period of 5-10 years. It offers multiple advantages like a low minimum capital requirement, averaging benefit, formation of investing habits, etc. However, the most adequate time to stop your SIPs is when your financial goals are met or when you feel to change the objective of your investments.
NFO in Zerodha is the abbreviation of "New Fund Offer". It refers to the introductory offer of a scheme by an AMC (Asset management company). An NFO is raised when a fund is launched and this will help the firm to raise capital for purchasing securities.
No, SIPs doesn't require any demat account. One can start SIP by completely minor documentations such as KYC, FATCA etc.
Equity and mutual funds are perfect if you want to invest in companies while seeing your money grow in a short period. Moreover, the chances of compounding your investments are higher. But the risk associated is equally greater considering the growth of companies and their performance in offering returns. But then keeping money in the bank is the safest way to keep your earnings. But then, due to inflation and low returns on interest, that value of the money kept might be cut down drastically.
Investors looking to invest in mutual funds without a Demat account can invest through financial institutions, independent financial advisors, AMC, and online portals.
deepika tirthani
I recently heard about Fincash, this online mutual fund investment platform. Their tagline says, "invest in best performing mutual funds". Do they actually guide in doing so? I mean, I want to put some amount in mutual funds. So, should I invest in SIP in mutual funds through it? Is Fincash login and investment through it easy and beneficial? Or there is another better alternative available to it?