Do you find it challenging to accumulate enough to save into mutual fund schemes? After all, with all the attractive sale offers on goods, saving money for investments proves to be a challenge, isn’t it?
Why should savings be a challenge when you can save by accumulating ‘chillar’ from your transactions, a la piggy bank system! You don’t even have to get yourself a piggy bank or borrow one from your child. Niyo gives you a digital piggy bank for micro-savings. Interesting? Let’s explore –
Niyo has launched the innovative concept of ‘Invest the Change’ for helping you save small amounts. Under this concept, you can save little amounts and create a small corpus, just like you did with your piggy bank. The corpus can then be invested in mutual fund schemes of your choice for earning returns. Let’s understand –
Invest the Change – the concept
The whole concept of ‘Invest the Change’ is based on micro-investing. The feature is available with Niyo IDFC cards which allows you to save small amounts into mutual fund schemes and avail attractive returns.
How the concept works –
Here’s how the concept of ‘Invest the Change’ actually works –
transactions that you do with your Niyo IDFC card are rounded off to
the next hundred
difference of rounding off is accumulated into a corpus
the accumulated corpus becomes Rs.500, it is invested in a mutual
fund scheme which you choose as per your preferred investment tips
and risk appetite.
Let’s understand with an example –
Suppose, in a month, you use your Niyo IDFC Card for the following transactions –
Here’s how the concept of ‘Invest the Change’ would work and round off your purchases –
|Transaction||Amount||Rounded off amount||Change amount|
The concept of ‘Invest the Change’ is a beneficial one, especially for small-time investors who don’t find sufficient funds to invest. Some of the main benefits of this concept include the following –
small-time investors to invest in mutual fund schemes for wealth
creation even with their limited savings
disciplined approach to savings where the accumulation and
investment process is automated so that your money is automatically
saved with every spend
investment is simple and convenient allowing even the most passive
of investors to enjoy the benefits of mutual fund investing
entire concept is digitized through the Niyo application wherein you
can switch on or switch off the investment feature at your will and
choice of the mutual fund scheme is in your hands allowing you to
choose a scheme depending on your financial goals, investment
horizon, asset allocation and risk appetite
can easily track your spends, the accumulated change and the
subsequent investments at your fingertips
The ‘Invest the Change’ concept is both penny and pound wise and allows you to save small amounts in an effective manner to generate inflation-adjusted returns. So, opt for this feature and let your humble investments create wealth for your financial goals.