Benefits:
0️⃣ No platform/subscription fees
💸 Tax benefits under section 80C
💲 Opportunity to earn good returns
🆓 Hassle-Free investment journey
💯100% digital interface with a personal touch from an expert relationship team
Whom to sell?
- Age: 18 years & above
- Indian residents
- Salaried or self-employed individuals
- Available for all locations in India
Documents Required for KYC:
a. PAN card
b. Address proof documents – Aadhaar card/driving license/Voter card/passport
c. Bank details – account number and IFSC
d. Live selfie and Video KYC
How it works?
- Watch all product-related training videos and complete the quiz.
- Share the generated link with everyone in your network
- Upon clicking the link, your customer will get re-directed to Moneyfy by the Tata Capital app.
- Here, the customer must create their account by entering their personal details like name and email ID and then create a 4-digit MPIN
- Create your account and submit the required KYC documents and bank details.
- For existing MF investors, this step would not be available as the brand would fetch their details on the basis of their PAN card directly.
- After this, the customer must give e-sign consent to proceed to NSDL authorization. An OTP would be triggered on the customer’s registered mobile number for this authorization
- Here, the customer gets KYC completion acknowledgment.
- Select the Tax Saver mutual fund (ELSS) you want to invest your money in.
- Make your Tax Saver mutual fund (ELSS) investment through any of the available online payment methods.
- You will receive the payout in your wallet instantly once the lead is marked as a success.
Terms & Conditions
- Customers must complete their KYC to get started
- Customers must upload genuine documents only
- Customers must be above the age of 18 years
- Start investing in tax-saving mutual funds with a minimum one-time (lumpsum) investment or SIP of INR 5000
- To know your Tata Moneyfy Mutual Funds Payout, always refer to the GroMo App
- Investment & account opening has to be done in the same month.
- Get the chance to win goodies if you do 2 and above sales
Frequently asked Questions
Q1. What is a Mutual Fund?
Ans-> A mutual fund is a portfolio of stocks, bonds, or other securities, which gives small or individual investors access to diversified, professionally managed portfolios at a low price. Mutual funds are divided into several kinds of categories, representing the kinds of securities they invest in, their investment objectives, and the type of returns they seek.
Q2. How to Invest in an ELSS Tax-saver Fund Without a Demat Account?
Ans-> A Demat account is not required to invest in mutual funds. You can take the help of a mutual fund distributor or broker to invest in tax-saving mutual funds. You can make your investment through NetBanking or UPI.
Q3. How to Invest a Lump Sum in Tax-saver Funds?
Ans-> If you want to make a one-time investment in a mutual fund scheme, you will need to opt for the lump sum method of investing. You can make lump sum investments in a tax-saving mutual fund online or offline through the fund house or a mutual fund distributor. To invest a lump sum online, you will need to visit AMC’s website or Tata Capital’s Moneyfy platform. After creating your investor account and completing your e-KYC, you can select the suitable ELSS mutual fund scheme and choose the lump sum option to invest in it. Then, you can make your investment using any of the available online payment methods.
Q4. How to Invest in ELSS Tax Saving Mutual Funds Through SIP Online?
Ans-> A Systematic Investment Plan or SIP allows you to invest fixed amounts in mutual funds at fixed intervals. SIP is the best method for long-term wealth creation through mutual funds. You can start your SIP in an ELSS fund for as low as Rs. 500 per month. To start your ELSS SIP, you can visit Tata Capital’s Moneyfy platform. Below are the steps you need to follow to invest in ELSS mutual funds through SIP using the Moneyfy platform: Step 1 – Visit the Moneyfy website or download the app on your smartphone. Step 2 – Create your investor account by completing your e-KYC. Step 3 – Select the mutual fund scheme you want to start a SIP. Step 4 – Enter your bank account details and the SIP amount to set up a SIP auto-debit. Step 5 – Select the date of the first SIP. Your recurring SIPs will be made on this date thereafter.Step 6 – The SIP amount will be deducted from your bank account every month, and it will get invested in the selected tax-saving mutual fund.
Q5. What are the documents required during the onboarding journey?
Ans-> Original PAN card and for address proof any one of the Aadhaar card/ Driving license/ Voter card or Passport, are required in addition to bank details and live selfie during the on-boarding journey.
