May was a busy month with lots of new releases especially on the payments side.
Paperless E-NACH Mandate
A NACH mandate enables you to automate your SIPs and is required for rebalancing your portfolio. It is an authorisation you give your bank to enable Goalwise to transfer money from your account directly to the Mutual Fund’s account only as per your instructions to Goalwise.
E-NACH is the best way to automate your investments. While scan-based NACH takes about 30 days to register, E-NACH usually takes only 5 business days and involves zero paperwork.
All you need to do is start E-NACH registration from your account (Dashboard > My Account > NACH Mandate), enter your Aadhaar number and then complete authentication via Aadhaar OTP. That's it.
Your E-NACH will be registered in 5 business days and you won't have to pay for your SIPs manually every month.
###**Set up Multiple Banks for Net-banking**
This was a highly requested feature from our investors.
Most of us have multiple bank accounts and while there is one we use primarily, sometimes we might want to pay from the other one.
Now that is possible. Just add your other bank account as a secondary bank account for net-banking payments and then set it as default.
You can add secondary bank account via the Service Centre (accessible via the top right drop down menu).
###**Invest via iOS app**
Our iOS app development is in full swing. Now you can add goals and invest in them (SIP/lumpsum) via the iOS app.
More updates on the iOS app are coming soon.
###**Investment Streak** This is my personal favourite!
Your investment streak is the number of months of consecutive investment (SIP or lumpsum).
It is a measure of discipline and continuity in investing - one of the biggest factors for successful investing.
My current streak is 26 months!
As of now, you can see your investment streak in the android or iOS app. Soon we will show this on the web dashboard as well also.
We are confident that investors with longer streaks will do better than investors who keep breaking their investment streaks.
You can read more about this feature here.
Which is your favourite feature amongst these? What other features can you think of that will help you achieve your goals? Let us know in the comments below. :)