Paytm to make investing in mutual funds cheaper

Paytm Money will offer mutual fund schemes in direct plans that come with lower expense ratios, it added.

Paytm Money, a subsidiary of digital payments major Paytm, today said it will offer mutual fund investment products at zero fees to its customers.

The investment and wealth management platform, which is slated for launch in the next two weeks, has seen huge consumer interest with more than 7.5 lakh people registering for early access, Paytm said in a statement.

Paytm Money will offer mutual fund schemes in direct plans that come with lower expense ratios, it added.

"We are aiming to make investing simple, transparent and accessible for all. We believe that the mutual fund industry will grow from current 20 million investors to over 50 million investors in the next five years," Paytm Money Whole-time Director Pravin Jadhav said.

Offering users the best possible investment product at zero fees will help accelerate this growth, he added.

In January, Paytm had announced that it will set up 'Paytm Money' to build investment and wealth management products for its users.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)