Micro investing Apps in India To Save and Invest

Micro Investing Apps

So many things have become easier because of the internet. From looking for a word’s meaning to shopping and money management, everything has become possible with a simple touch from the comfort of our home. People no longer have a fear of investing money online because fintech companies have made it so simple and easy. We can anticipate that investing will become even simpler as technology advances. In this article we will discuss the best micro-investing apps available to Millennials, Gen-Zers and any generation interested in learning how to invest small amounts of money steadily and consistently over time.

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What Are Micro-Investing Apps?

Micro-investing apps help people to save and invest in a matter of seconds. With the help of technology, these applications are made to make it simple for people to start investing, even if they don’t have a lot of money. They also help them save for the future and build their investment portfolios.

One of the primary ways that micro-investing apps encourage savings for users is by making it simple. Many of these apps allow users to schedule regular investments, such as daily, weekly or monthly deposits, which can help users save consistently over time. This can be especially helpful for people who might have trouble sticking to a savings plan on their own.

Today, nearly a billion Indians have bank accounts, but they have never invested or understood the fundamentals of saving. The extremely low level of financial literacy and confusion is one of the primary causes. Micro investing apps in India have been created to bridge the gap and educate people about how to build safer financial habits and a financially secure future.

So, with this platform, we are attempting to instill a financial habit in individuals, particularly among India’s youth. You can achieve your goals by making the simple decision to invest small amounts of money early in life and continue doing so on a regular basis.

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Advantages Of Micro Investing Platforms

Traditional investing platforms, like fixed deposit schemes or stock markets, impose certain conditions on their users, such as establishing a minimum amount for a deposit to start with or stipulating regular additions of fixed sums of money into the scheme. However, not everyone can afford to do so.

Lower-income individuals or people with irregular incomes who cannot put together Rs 10000 at a time need a convenient alternative method of saving. Users can build their savings without worrying about raising a large sum through micro-investing platforms. It provides users with the following advantages:

  1. It inculcates a habit of saving
  2. It is convenient as money can be saved with a single click.
  3. It is affordable as one does not require a large amount of money to start
  4. No prior knowledge of financial markets or investment strategies is required of users.

Micro-investing is especially geared toward young people who are driven by technology and want to build steady savings but don’t have the money to do so. After the 2008 global financial crisis, when people lost all faith in the stock market, the applications gained more popularity.

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Types of Micro Investing Apps in India

There are numerous apps that provide micro-investing services, however each works uniquely in contrast to the others. However, there are two main ways that they work.

1.Some of the apps let you buy a fraction of a share, or fractional investing. The stock market does not allow for fractional investing, but apps can buy a whole share and then break it up into smaller pieces for their users. In the event that they are unable to afford an entire share, individuals can purchase fractional shares using the money they have saved. Examples of such apps are Upstox, Groww, 5 Paisa, Angel etc.

  1. Some other apps connect the user’s debit card or bank account. Thereafter, the app rounds off each purchase made into the next highest integer and diverts the spare change to the user’s investment fund.

Let’s say, for instance, that Person A connected their debit card to a micro-investing app. They make a Rs 89 purchase of coffee from a cafe. Rs 100 is taken from their bank account when their card is swiped in the machine. Their investment fund receives the remaining Rs 11 by way of an automatic transfer. Even though it’s a small sum, the regular deposits will add up to a significant sum over time. Examples of these apps are Acorns, Digit, Gullak, Spenny etc.

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Can I Borrow Money In Financial Need With The Savings?

Yes, The Money Club App allows you to save, invest and borrow money. The Money Club is a fintech startup that has built an AI-based P2P group savings platform to enable the lower-middle-class population to save, borrow and invest digitally.

This is based on the committee system where a group of verified people come together to pool a fixed amount for a fixed duration. You can join a club just with a few taps on your phone screen and 2 verification calls from our verification team. After joining the club, members who wish to win the pooled amount are required to bid their interest rates for it. The highest bidder wins the pool.

Benefits Of Joining Money Club

  • It is the best platform for middle-class families who cannot obtain loans in an emergency and must rely on high-interest money lenders. With the Money Club platform you can quickly receive a lump sum amount in an emergency if you regularly save small amounts on this platform.
  • You join a group of verified friends and pool money with them.
  • You can borrow a sum several times greater than the amount you have invested.
  • When you need money, you just have to bid, and the money is in your bank account in six to eight hours.
  • All transactions are digital. Members of the club deposit funds into your bank account directly. The money does not lie with the organizer.
  • You can earn money from home. If you sign up to be a Money Club agent and recommend to 20 of your friends and family, you could win Rs 20,000.

Read: How Does The Money Club Mobile App Work? – The Money Club

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In conclusion, despite the fact that spending is necessary for growth, it is essential to monitor it and save money for the future. Micro-investing platforms were created to make managing money easier and to encourage saving for long-term financial security. It is strongly suggested that you make use of these platforms in order to achieve the best results because they offer the convenience of setting up an account in less than a minute and the capability to invest as little as Rs 200.

FAQs- Micro Investing Apps in India

How do I start investing?

If you are new to investing, you can start by investing in a committee system with the help of Money Club App. The Money Club is a fintech startup that has built an AI-based P2P group savings platform to enable the lower-middle-class population to save, borrow and invest digitally.

Where can I earn money online?

You can make money by investing. Investing helps your money work for you. All you have to do is start investing in with the help of Money Club App which aims to make saving, investing, and borrowing money more efficient.  

What is the safest app to invest in?

What is the safest app to invest in?

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