ETMONEY is an online investment platform that helps you in investing, tracking and managing mutual fund investments, insurance policies, loans and credit reports under one roof.
ETMONEY investment account offers
- Investment in direct mutual funds (including ELSS)
- Investment in insurance (term, health, car & bike)
- Personal loans
- Smart deposit account
- Option to check credit score
- Expense manager
#1. Direct Mutual Funds
ETMONEY platform offers investment in direct mutual fund schemes.
Investment in direct mutual fund schemes gives your higher returns (up to 1%) because they do not have to pay commissions to the online platforms. This increases your overall returns from mutual fund investments.
#2. Insurance Products
You have the facility to invest in health insurance and term life insurance products that can be useful in tax savings under section 80C & 80D of the Income Tax Act.
ETMONEY also offers facilities for the purchase of car and bike insurance through the app.
#3. Personal Loans
Through ETMONEY, salaried persons get access to instant, hassle-free personal loans up to Rs. 20 Lakhs without paperwork, bank visits and headache of collateral.
#4. Other Value-Added Products
ETMONEY offers a Smart Deposit account that helps you earn higher interest on your idle money. The Smart Deposit account invests your money in Nippon India Liquid Fund that gives better returns as compared to traditional savings bank accounts.
ETMONEY provides you an “Expense Manager” tool that tracks all your expenses, classifies expenses into various categories like travel, grocery and utility payments. The tool also alerts you about pending bills payment to avoid penalty.
ETMONEY also allows you to generate your credit score and provides insights to improve the score.
How ETMONEY Works
ETMONEY online platform helps you invest in commission-free direct mutual fund schemes. Further, the platform helps you track, manage and redeem your mutual fund investments from the convenience of your home.
ETMONEY, first, offers you a robust and simple online investment platform in the form of an app.
Second, it offers you a list of direct mutual fund schemes to invest.
ETMONEY lists mutual funds based on
- Certain investment ideas
- Mutual funds by category
But in both cases, you get a list of mutual funds with full freedom to select any specific mutual fund with all possible information.
#1. Mutual Funds Based on Investment Ideas
Investment ideas based mutual funds that ETMONEY offers are not goal-based, but are random ideas suited for the certain investor class, events, or themes.
Few examples of mutual funds based on investment ideas are
- Mutual funds for beginners
- Mutual funds for COVID-19
- Invest like Warren Buffet
- SIPs starting Rs. 500
- Schemes for emerging funds
#2. Mutual Funds by Category
Here ETMONEY categorizes mutual funds into equity, debt, tax savings and hybrid funds and then offers the list of top-performing mutual funds under each category.
Benefits of Investing Through ETMONEY
#1. Single Account
ETMONEY offers users a single account to help in managing all investment needs like investing in mutual funds, insurance (health & auto), loans and NPS.
You won’t have to access separate portals & apps for different investment needs. ETMONEY keeps you away from the challenge of memorizing several login ids and passwords.
#2. Value-Added Tools
The value-added tool like “Expense Manager” helps you in tracking your expenses, spends and cash withdrawals without manual input.
The tool provides you insights on your spending pattern and also reminds you of the bill payment due dates.
The tool does this by capturing details from the SMS received. For that, you need to authorize the tool for capturing SMS details.
ETMONEY value-added services include a free credit score check and tips to improve scores.
#3. Saves Time Through Automated Service
ETMONEY app saves your time and effort by scheduling SIP payments, placing reminders for bill payments & insurance renewals.
You are free from diaries and excel for tracking your expenses. The app also helps in analyzing and managing your expenses online.
#4. Earn Higher On Your Money
You earn higher returns (up to 1%) when you invest in direct mutual funds, ETMONEY offers investment in zero commission direct mutual funds.
Likewise, when you park your excess cash in a “Smart Deposit Account” you earn higher interest ( 2% to 3%) as compared to keeping money in a savings bank account.
ETMONEY online platform comes in the form of an app that is free to download and use. You do not have to pay any charges for buying units, tracking returns, and redeeming your mutual fund investment.
The other services like purchasing insurance, applying for loans, NPS investment, using Expense Manager and generating credit reports are also free of charge.
ETMONEY App Review
The ETMONEY app is provided by Times Internet Limited. You can download the app from both the Google Play store and the Apple store depending on the smartphone you are using.
The app is compatible with iOS and Android smartphone software.
You can install the app and start using it directly. The ETMONEY app is clean, intuitive, easy to navigate and rated high by users on both the stores.
|Particulars||Google Play Store||Apple Store|
|Ratings||4.5 out of 5.0||4.5 out of 5.0|
|Compatibility||Android 5.0 and above||Requires iOS 9.0 or later. Compatible with iPhone, iPad and iPod touch.|
How to Invest Through ETMONEY
The stepwise process to invest in mutual funds through ETMONEY is under
#1. Select Mutual Fund Scheme
To invest in a mutual fund scheme you need to pick one of the mutual fund schemes from
- The list of investment ideas
- The list of top-performing mutual funds by category
For example, you can select a DSP Tax Saver Fund from the list of tax saving mutual funds.
Next, you need to choose the investment method. Select a monthly SIP if you want to invest a fixed amount at a regular interval.
Or choose lump-sum if you want to make a single payment.
#2. Open an ETMONEY Investment Account
Existing ETMONEY users will get a payment processing page after the first step. But new users need to open a KYC compliant investment account with ETMONEY.
Provide your email id for creating an account.
Verify your email address using the OTP received.
Next, you need to enter PAN details as shown under. Click on the continue tab as shown below.
Confirm your name and residential status as per your PAN and click “Continue” to proceed ahead.
#3. Add Your Bank Account
ETMONEY links your bank account to the investment account for smooth investing and receiving mutual fund redemption proceeds.
Provide your bank account number and select the account type.
Allow ETMONEY to verify your account details by checking the box and clicking the “confirm and proceed” tab.
Provide IFSC code to link your bank account.
You may be prompted to upload a scanned copy of the canceled cheque, bank statement, or your bank passbook.
#4. Other Details
ETMONEY asks for your personal details, professional details and nominee details in order to set up your investment account.
After you have completed the account set up process, you will get to the payment page.
#5. Payment Options
ETMONEY offers payment through various modes like net banking, debit card and UPI. You can select any of the payment options as per your convenience.
For example, if you select the UPI option, then you need to choose your UPI app for making payment.
Tap on your UPI app and enter your UPI ID and tap on the “Make Payment” tab.
Next, you will get a notification from the selected UPI app to authorize the payment. On authorizing the transaction will get completed and your mutual fund units will get credit in your account.
How Safe is ETMONEY
#1. ETMONEY is Part of Times of India
ETMONEY is a finance app of Times Internet and is part of the Times of India Group Company. You are assured that you have a trusted partner.
When you invest in mutual funds, your money directly goes to the mutual fund house and on redemption, the money gets credited in your bank account.
You have the complete ownership of your mutual fund investment, ETMONEY is only an investment platform.
#2. Bank-Grade Security
ETMONEY employs advanced security protocols like bank-grade encryption and security to keep your data and confidential information secure.
The payment gateways attached with ETMONEY follow strict Payment Card Industry Data Security Standards (PCI-DSS) compliance for all your online money transfers.
What Could Have Been Better
#1. Provide Goal-Based List of Mutual Funds
ETMONEY provides a random listing of mutual funds based on investment ideas that may or may not be useful for every investor.
For example, their investment ideas on “Mutual funds for beginners” and “SIP’s starting Rs. 500” can be useful.
But we all have goals and life events that require pre-planned investments like savings for retirement, children’s education and marriage.
ETMONEY could have been better by providing a list of mutual funds based on life goals.
#2. Web Version of the Platform
The ETMONEY investment platform is available only in the app version. No doubt the app platform is great and handy to carry.
But a web version that can be opened on PC with a large screen and easy to view could have been better.
#3. Better Customer Support
There are negative reviews on the app stores of users complaining of the delay and the poor customer support.
ETMONEY could improve on the quality of the customer support so that the investors get issues resolved quickly.
ETMONEY vs FundsIndia
|Can Invest in||Mutual Funds (Direct)|
Insurance (Health, Term, Car, Bike)
|Mutual funds (Regular)|
Corporate Fixed Deposit
Super Savings Account
|Other Value-added Services||Personal Loans|
Check Credit Score
|Investors assets under management||Rs. 5,000 Crore||Rs. 6,500 Crore|
|AMC Charges||For investment in mutual funds, there are no AMC charges||For demat & trading account only: |
First-year – Free
Second Year Onwards – Rs. 400
For investment in mutual funds, there are no AMC charges
|Financial Advisory||None||Yes, both Robo & Traditional Investment advisor|
|Fund suggestion||Based on investment ideas and fund category||Based on the Risk Profile|
|Platform||App-based||Web and App based|
|Investor Education||Through blog articles & FAQs||Through blog articles & FAQs|
|Customer Support||Phone and e-mail||Phone, e-mail, Chat and Skype|
|Tools||Rent Receipt Generator|
Income Tax Calculator
Term Insurance Calculator
SIP CalculatorTax Savings Calculator
|Registered with||AMFI for Mutual Fund distribution|
SEBI for Investment Advisory
Registered with IRDA as a corporate insurance agent
|SEBI for stockbroking|
AMFI for Mutual Fund distribution
ETMONEY is a multi-use investment platform in the form of an app that is useful for new generation investors having varied financial needs.
The app helps you invest in mutual funds and insurance, offers facilities to apply for loans, check credit scores and earn higher interest by investing in Smart Account. You can also use the app to track your expenses and utility bill payment reminders.