INDmoney App Review: is it safe for investment?

INDmoney app became famous for providing US stock investment platforms.

You can invest in multiple investment options like mutual funds, stocks, loans, term and health insurance, and AI-based Robo-advisory through INDMoney.

INDmoney App Features

1. US stock investment 

The INDmoney US stock Investment Platform provides access to a wide range of US stocks and ETFs. You can invest in over 3,500 US stocks, including popular tech companies like Apple, Tesla, Amazon, and Google from India.

You can also buy fractional shares of stocks, which means you don’t have to buy a full share.

For example, if you want to buy Tesla stock and one share of Tesla is worth $195 (Rs. 15,990), but you have only Rs 1,000 to invest, you can still buy a part of Tesla’s share worth Rs 1,000 only.

INDmoney has collaborated with Vested (a US-based brokerage company) to provide US stock investments in India.

One of the key features of INDmoney is that it charges a very nominal brokerage charge of 0.15% per order for investing in US stocks from India. INDmoney also charges a platform fee of 0.75%, which is capped at Rs 1000, and a withdrawal fee of $5 per transaction for withdrawing money from a US account to an Indian bank account.

2. Indian stock investment

INDmoney has recently started demat and trading account services for the Indian share market at a discount brokerage.

You have to pay a lower of 0.05% or Rs 20 per executed order while investing (equity delivery) or Intraday trading in stocks through INDmoney. You don’t have to pay any account opening and AMC fees. The fee structure quite resembles Upstox. However, INDmoney doesn’t offer F&O, currency, or commodities trading. 

3. Direct mutual fund investment

INDmoney allows you to invest directly in mutual funds without paying any commission. You can invest in different mutual funds like Tax saver, high returns, and liquid funds.

4. Zero balance savings account

INDmoney app has collaborated with the Federal Bank (Earlier it was SBM Bank) to offer a zero balance account with Zero forex conversion charges and the fixed deposit rates are as high as 7.5% per annum. 

5. Track your money

You can add your bank accounts, demat accounts, and credit card details to gather transactional data in real-time. This data is then automatically categorized and analyzed using advanced algorithms and AI, to provide you with an accurate and detailed picture of your financial health. 

INDmoney also gives you suggestions on taxes after analyzing your income, expenses and investments. 

6. Health and Life Insurance

INDmoney has also started offering health and term insurance plans on its app.

INDmoney has collaborated with HDFC Ergo, Care, and Max Life to provide hassle-free insurance plans to its customers.

7. InstaCash

INDmoney also offers a personal loan based on your CIBIL score. You can take the loan at a 13-15% per annum interest rate, and there are no foreclosure charges, so you can settle the loan earlier if you have funds without paying extra charges.

If you want to learn options trading, you can start investing Rs. 5000 as an initial investment.

Benefits of the INDmoney App

1. User-friendly Interface

The INDmoney app has a user-friendly interface that makes it easy to navigate and use.

2. AI-powered Investment Recommendations

One key feature of the INDmoney app is its investment recommendations. INDMoney uses an AI-powered algorithm to recommend investment products based on your financial goals and risk appetite.

3. Portfolio Tracking

You can track your investments and monitor your portfolio performance in real time.

4. All-in-One personal finance shop

The INDmoney app is your one-stop shop for all your personal finance needs. You can invest in stocks, mutual funds, and fixed deposits. 

The INDmoney app also offers health and term insurance options along with instant personal loans.

INDmoney App Pros and Cons

Pros
  • Wide range of financial products available
  • AI-powered investment recommendations
  • Real-time portfolio tracking
  • Goal-based investing feature
  • User-friendly interface
Cons
  • Limited investment options compared to other platforms
  • Platform fee levied

Is the INDmoney App Secure?

The INDmoney app is secure as it’s a SEBI-registered financial advisory company.

indmoney sebi registration details

INDmoney also undergoes a thorough security audit by Bishop Fox, which is famous for conducting transparent data privacy audits for global industry leaders like Zoom, Amazon, Google, and Coinbase.

You can trust Bishop Fox for the highest level of protection for your data, and sharing financial information like bank accounts and credit cards on the INDmoney app is entirely safe and risk-free.

indmoney data security

The app also uses 256-bit SSL encryption and two-factor authentication (2FA) to protect your account. With 2FA, you need to provide a second form of authentication, such as a one-time password or fingerprint scan, to access your account.

Final Words

INDmoney app is a user-friendly, secure, and feature-rich platform for investing in various financial instruments. With its range of investment options, real-time market data, and analysis, the app makes investing and managing your portfolio easy.

FAQs

Can the INDmoney app be used by beginners?

Yes, the INDmoney app is user-friendly and offers resources and tools to help beginners get started with investing.

What types of investments can be made using the INDmoney app?

The INDmoney app offers a range of investment options, including mutual funds, stocks, fixed deposits, IPOs, bonds, US stocks and ETFs.

Is the INDmoney app safe and secure?

Yes, the INDmoney app uses bank-grade security protocols to protect user data and transactions.

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

3 thoughts on “INDmoney App Review: is it safe for investment?”

  1. worst app accordingly no customer care contact number there is no any contact number only you can raise ticket only

    Reply
  2. I have 2 separate investment accounts. Both are joint accounts – one I am first holder and other my wife is first holder.
    I am yet to download your app.
    How can I use Ind app to track both ac?
    Do I need to have 2 separate downloads or can it be shown in one ac ?
    Again will it show them separately or as one?
    Please advise best way forward here.
    Thanks
    Harsha

    Reply

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