There is no denial of the fact that Indians, since their childhood, have been embedded with the concept of saving money in their minds. The same can be testified by just a single word- Gullak (piggy bank). Most of the now grownups, in their childhood, must have collected small amounts of coins and would have saved them in a piggy bank with an aim to turn those little amounts into a large amount and eventually utilize them as per their will. Unlike the old traditional times, things have witnessed a massive shift with the advent of digitization, and keeping this in mind, INDmoney, a fintech application, has introduced a unique feature called Mini Save, which is a kind of a piggy bank of the new era, except for the fact that it is not just a piggy bank but a tool that can help you build long term wealth.
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Mini Save is an interesting feature that automatically saves the spare change from your day-to-day digital transactions and invests it in your preferred companylisted in the US Stock market. Breaking it down, it basically rounds off the spare change from your spending and collects it in a virtual pot. For eg – You took an Uber to the office & paid Rs. 214, the excess 6 rupees will be deducted from your account & get saved in the Mini Pot. Once the collected amount reaches ₹1000, it automatically gets invested in the US stock of your choice for eg – Amazon, Tesla, Apple, Google, Microsoft, etc. Fun fact, daily investment of just Rs.100 in Amazon for 10 years would have become ₹21.48L*!
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Dhinesh Potnuru (VP, Product Management, INDmoney) the man behind Mini Save feels that millennials have an intent to save & invest but they keep procrastinating it. “With Mini Save, our idea is to make the whole process of saving and investing effortless by making it 100% automated. We want to enable these users to realize their long-term wealth potential by saving small every day.”
INDmoney, with its user base of over 6 million users, has emerged as a front-runner when it comes to investing in US stocks from India. Now with its Mini Save feature, it aims to democratize investing in US stocks for every Indian.
*(Past Performance is not indicative of future returns.)
Source: polygon.io
The securities quoted are for examples and are not to be considered as advice or recommendation. Logos above are the property of respective trademark owners and by displaying it, INDmoney has no right, title, or interest over it. Please be informed that US stocks are not Indian Exchange-traded funds and Finzoomers Services Private Limited acts in the capacity of facilitator of this product. All disputes with respect to the transaction facilitation services, would not have access to exchange investor redressal forum or arbitration mechanism in India" T&C Apply/visit www.indmoney.com
