You can now start investing through Basis!
We can hardly hold in our excitement. We’ve successfully completed the trial of our brand new investment feature with a small group of users, and it is now live on the Basis Android app for you to start investing. We’ve partnered with the leading mutual fund houses in India: SBI Mutual Fund, ICICI Prudential, DSP Blackrock, Aditya Birla and Reliance Mutual Fund.
Here’s what’s available today:
(1) One-time investment options for long term investments (duration >5 years)
(2) Customized mutual fund suggestions via our proprietary recommendation algorithm
You’ve enjoyed our content and our community, and we’re excited to augment these with our investment features.
Your interests first:
Basis is a SEBI Registered Investment Adviser. This means we are regulated by India’s securities regulator. There are no hidden commissions involved in the funds you invest in through Basis (these are also known as “direct” plans for mutual funds). This way, we ensure that the investment advice we provide through Basis is unbiased and objective and right for you.
Most companies who sell mutual funds today are distributors, and they receive commissions from mutual fund houses for the funds they suggest to customers. This could result in advice that could be misaligned with customers’ interests. Investing in mutual fund plans through distributors (versus an adviser like us) also ends up being more expensive for you.
Here’s what you can do on Basis today:
You can sign up on our app and invest your savings as a lump sum (one-time) investment. We will guide you through the process across many aspects such as helping you calculate your risk appetite, and suggesting the best mutual funds via our recommendation algorithm. We analyse over five years worth of data of each fund investment that covers over ten parameters in both qualitative and quantitative aspects. These include statistical measures such as financial ratios, composite return, amongst others. Our specialised goal-based investing feature that we are launching soon has over 5000 simulations run across each investor’s requirements before making a recommendation.
Stumped what many of these investing concepts are? Find out through our bite-sized learning modules that you can read on the go. Stay up to date with the investing news that could impact you. Join our Facebook community and ask all your questions!
Here’s what coming up next:
In just a few short weeks:
- You’ll be able to create recurring monthly investments through Basis (also known as SIPs, or Systematic Investment Plans) if you have a bank account with Axis Bank, ICICI Bank or HDFC Bank.
- You’ll be able to create tax savings investments. Under section 80C, you can reduce your taxable income by Rs.1.5 lakhs by investing in ELSS (Equity Linked Savings Schemes) funds. You’ll find these funds available on Basis (very) soon.
- You can start creating goals for your investments. Goals are known to be the best way to hit your money targets, and we’re bringing you specialized plans catered towards women’s unique needs. This is a feature we are most excited about – that nobody in the market today is offering! Stay tuned.
Of course, all of these are powered by Basis’ unique recommendation algorithm. Don’t have an Android device? We are also in the process of designing our web browser-based product!
We live longer, have higher healthcare costs, draw salaries that peak earlier, tend to take more career breaks, and encounter the gender pay gap. With the current challenges, investing correctly is the one tool that women have to overcome them. And we at Basis are glad to be the long term partner in your financial journey.
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