Do you find it challenging to accumulate enough to save and invest? After all, with all the attractive sale offers everywhere, saving money for investments proves to be a challenge, doesn’t it?
Why should saving be a challenge when you can save by accumulating ‘chillar’ from your transactions, a la piggy bank system! You don’t need to run to the store to pick one up. NiyoX gives you a digital piggy bank for micro-savings. Interested? Let’s explore further.
NiyoX has launched the innovative ‘Invest the Change’ feature to help you save small amounts every time you spend and create a small corpus, just like you can with a piggy bank. The corpus can then be invested in mutual fund schemes of your choice for earning returns. Here’s a closer look into how it works: –
The concept of ‘Invest the Change’ is based on micro-investing. The feature is available on the NiyoX app which allows you to invest small amounts into mutual fund schemes and avail attractive returns.
Here’s how the concept of ‘Invest the Change’ is put into practice:
Let’s understand with an example:
Suppose, in a month, you use your NiyoX account for the following transactions –
Transaction | Amount |
Electricity bill |
999 |
Restaurant | 1080 |
School fees |
1490 |
Grocery | 2170 |
Fuel | 890 |
Gas bill |
881 |
DTH bill |
590 |
Here’s how the concept of ‘Invest the Change’ would work and round off your purchases (in this case to the next ₹ 100):
Transaction | Amount |
Rounded off amount |
Change amount |
Electricity bill |
999 | 1000 | 1 |
Restaurant | 1080 | 1100 | 20 |
School fees |
1490 | 1500 | 10 |
Grocery | 21170 | 2200 | 30 |
Fuel | 890 | 900 | 10 |
Gas bill |
881 | 900 | 19 |
DTH bill |
590 | 600 | 10 |
Total | 8100 | 8200 | 100 |
The concept of ‘Invest the Change’ is a beneficial one, especially for small-time investors who are unsure of how much is the right amount to invest. Some of the main benefits of this concept include the following –
The ‘Invest the Change’ concept is both penny and pound wise and allows you to save small amounts in an effective manner to generate inflation-adjusted returns. So, opt for this feature and let even the smallest investments create wealth for your financial goals.
With the NiyoX 100-seconds online savings account opening process, digital banking services are at your fingertips anytime, anywhere.
Download NiyoX today and get onboard the Spend.Save.Invest bandwagon!