MF Investment: Now invest in zero-commission mutual funds with as low as Rs 100

financialexpress.com:

PeepalCo’s latest offering Lemonn has launched Mutual Fund investment service on the app to help new investors diversify their investments. This marks a significant step towards the company’s goal of evolving into a comprehensive wealth-tech player.

Users can invest in mutual funds directly and commission-free on Lemonn and start with as low as Rs 100. They can also track their investments made on third-party apps using the Portfolio Import feature.

The app offers schemes from over 40 fund houses, including major AMCs such as HDFC, SBI, and Axis, to name a few.

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Speaking on the announcement, Devam Sardana, Business Head, Lemonn, said, “Our goal is to empower first-time investors to gain a deeper understanding of the investment landscape. Thus, introducing mutual funds on Lemonn is a natural step forward for us.”

“The rapid growth of India’s mutual funds industry, outpacing countries like the US, Japan, and China, underscores a clear and growing demand. This demand can be further enhanced by offering simple, transparent, and affordable products,” he added.

Only a week prior, the platform had introduced Futures and Options (F&O) trading with zero trading brokerage for equity investors.

Lemonn is an investment app, launched last month by PeepalCo, a house of brands building wealth tech products for India. The app is designed to simplify the process of discovery and decision-making for new and experienced investors.