Investing in a mutual fund might be risky, but it’s now super easy! Wishfin has launched another innovative service that is to invest into mutual fund SIP via Whatsapp. Earlier about a month back, Wishfin has launched the service of getting your CIBIL score on Whatsapp. The product was a big success, more than a million people have checked their CIBIL score via Whatsapp. This is yet another service which is first in the industry of financial services. With this service, you can invest into mutual fund SIP via Whatsapp.
India is a big market for Whatsapp and Wishfin knows about it. So it capitalizes on the most popular social networking app. With the launch, investing into mutual fund SIP is as easy as chatting. You just have to give a missed call on 8447882222 and you will get a Whatsapp message from Wishfin. Mutual funds are the best investment tool for the beginners. There are many online portals who are selling mutual funds to retailers in different ways. But selling mutual fund on Whatsapp is unique. Let’s check step-by-step on how to invest in mutual fund SIP via Whatsapp.
It’s not that Wishfin has come up with this service overnight. They are working hard since last eight months in partnership with Whatsapp for testing their enterprise solution. So don’t be surprised if Wishfin comes up with other innovative services on Whatsapp.
Mutual fund SIP via Whatsapp – How does it work?
If you have checked the credit score via Whatsapp, you know the basics of the service. This service is no different than the one for getting your CIBIL score. There are two methods by which you can start a mutual fund SIP via Whatsapp.
Web method
- Go to the Wishfin website
- Enter your mobile number
- You will get a chat notification from Wishfin
- Enter your PAN number
- Enter the goal for which you want to invest
- Selected funds will be sent to you in a chat
- Select one fund from the list
- Now it will ask you to choose the SIP date and amount
- Once you provide the above details, it will ask for your full details like date of birth, address, gender
- It will then ask for your annual income, email address and other details
- Last it will ask for your bank details like bank account number, bank name, IFSC code for SIP auto debit
- Confirm the submitted details and you are done
Missed call method
- Give a missed call on 8447782222
- You will get a WhatsApp chat from Wishfin, make sure you have Whatsapp installed on the mobile from which you give missed call
- Now follow the same process mentioned above
- Once the process is completed, your SIP registration will be done
Pros and Cons of Mutual fund SIP via Whatsapp
Conclusion
As you can see in the above comparison of Pros and Cons, it is clearly coming out that the benefits are less. There are many issues in the process. At first, it looks tempting to go for it, but if you think twice before jumping into you will realize its not worth to go like this. Taking an important decision of investment cannot be done on the move. It requires a lot of data points and thought process to derive an investment plan. As per me you should not go for this service and stick to the conventional method of decision making on investment. Please share your views in the comment section below.