Jan 01, 1970 3 min read

What, Why & How of Smart Savings Account?

Here is what you need to know about the newly launched Smart Savings Account at MySIPonline.
If you want to let your hard-earned money work for you, then investing can be a better alternative. But where to invest and how to start are the biggest questions you might be facing. Here we have the answer for you. MySIPonline has brought the all new Smart Savings Account which allows the most convenient way of making higher earnings on the money kept idle.

Opening a savings account in the bank is quite an outdated thing, and if you are still relying on the same, then you are definitely losing great opportunities.

The liquid mutual fund investments in India are gaining a huge ground due to the major factors which are proved to be highly beneficial for the investors. By offering return up to 8% as compared to 4% offered by the savings account, the liquid funds have become quite famous. They provide investors with the similar liquidity and other features like easy redemption, quick withdrawal, low risk, etc., and when one gets so many benefits under a single tool, then why not opt for it.

What is Smart Savings Account?

As of now, you are well aware of the concept of liquid fund investments. Smart Savings Account is a tool that provides direct investment in the liquid fund, i.e., Reliance Money Manager Fund. It allows you to invest in the scheme online without getting indulged in any physical paper requirements. By availing the facility of smart save with MySIPonline, you would be able to make higher earnings on your idle money and let it earn greater profits. With zero lock-in period and nil exit load, this fund provides liquidity to the investors to redeem the funds even within 24 hours of investment. Accordingly, it is a smart way of making your idle money work for your short-term goals accomplishment.

Why Invest in Smart Savings Account with MySIPonline?

There are several reasons which make Smart Savings Account an excellent choice for the investors who are desirous of making short-term investments in mutual funds. You must have a look at some of the reasons here:

  1. Convenience: ‘Smart Savings Account’ is easy to access service by MySIPonline which provides the convenience of parking the idle cash whenever you want through the website or Mobile App.
  2. Low Risk: The money of the investors is parked in the Reliance Money Manager Fund (Growth) which has an investment in the debt and money market instruments and not a single penny in the equity stocks, and thus, have low- to medium-risk profile.
  3. Higher Returns: Where bank savings account provide 4% annual returns to the account holders, the ‘Smart Savings Account’ will let you earn 8.6% and even more returns. Reliance Money Manager has delivered 8.7% per annum(as on August 31, 2016) returns for last five years on an average basis.
  4. Withdraw Funds in an Instant: The ‘Smart Savings Account’ allows you to withdraw your money from the scheme whenever you require. You will be allotted an ATM as well for easy cash withdrawals 24/7.

How to Start Investing in Smart Savings Account?

  • You don’t need to put any extra effort to initiate with the Smart Savings Account.
  • Simply create an account or log in to your MySIPonline investment account, and visit your dashboard.
  • You will find a “Smart Save” button on the dashboard, click on the same to get started.
  • Next, you will simply have to choose the amount you have to invest in the account, and you are almost done.
  • Just confirm on the terms and conditions, make the payment from your linked bank account and your money gets ready to earn the best returns.

Not only this, you can immediately apply for the immediate cash withdrawal request in this scheme and your money shall be credited to your account within 30 minutes. Isn’t it amazing? Indeed, it is.

So don’t waste even a single moment and start saving to earn tremendous returns for your short-term investment goals. MySIPonline and its team are ready to serve you better; you can avail our assistance for any further support.
*Mutual Fund investments are subject to market risks. Read all information carefully before investing.

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