Winning Bizness Sports Desk
Mumbai. Many investors are increasingly attracted towards investing in mutual funds lately. Low market risk and good returns have pulled many people to invest in mutual funds. Now, there is a facility to invest in mutual funds through debit card. If you have a visa debit card, you can invest without any hassle and you dont need to add bank account for this. Visa Card has partnered with Razorpay to provide this facility. However, currently not all bank customers can avail this facility. According to a report, only Federal Bank and ICICI Bank customers can avail this facility as of now.
You decide the investment limit
According to reports, investors can invest in mutual funds using Visa Debit Card and they can decide the amount of rupees they want to invest and also change it. All SIPs linked to debit cards, along with other recurring payments, can be viewed by investors by logging into their bank's subscription management portal. Ramakrishnan Gopalan, head of Visa India, said that debit card payments will provide a distinct convenience in a country with over 69 million mutual fund SIP accounts. This facility will have many benefits in mutual funds. This payment process in mutual funds will increase the confidence of the investors. Apart from this, the confidence of investing in mutual funds will also increase. Gopalan expressed the belief that with this, some more people will turn to mutual fund investments.
What is VISA Card Network?
Your credit card or debit card has the name of the card provider. Sub card providers include Master Card, Visa Card, Diners Club etc. Facilitates payment process to customers by partnering with banks. Apart from that, it serves to connect the bank and the customers. If one invests in a disciplined manner, mutual funds can earn you around 12-15 percent returns in the long run. Everyone invests to secure the future. Investors invest in bank FDs, PPFs, mutual funds or small savings schemes as per their convenience and financial goals.
