Invest the Change is the easiest way to start investing small amounts in mutual funds, by simply using your NiyoX account to make any payments, transfers, etc.
For every debit transaction (any payment, spending) from your NiyoX account, we make a note of the spare change that you may have saved. As soon as the accumulated spare change reaches (or crosses) Rs. 100, the accumulated change will automatically get deducted from your bank account and get invested into the mutual fund of your choice.
For example, if you spend:
Rs. 17 – we make a note that Rs. 3 has been saved as spare change
Rs. 22 – we make a note that Rs. 8 has been saved as spare change.
In this example, we are rounded up to the next 10 (17 was rounded up to 20 and the difference was taken). You will have the option to chose this roundup value – Rs. 10, Rs. 50 or Rs. 100 (if you had selected roundup as 50, then if you spend Rs. 17, then the spare change will be Rs. 50 minus Rs. 17 = 37).
All you have to do is,
1. Set up the Invest the Change option (switch it on, select the fund you want your change to be invested in, and set up auto-pay to allow automatic investments).
We will keep making a note of the spare change that you save, and once that reaches/crosses 100, we’ll send a debit request to your bank to invest that amount in the mutual fund that you select.
You don’t have to remember all of this, we’ll guide you through each step on the app 🙂
Current Amount – This is the current value of your portfolio of investments, made through Invest the change. For example, the amount that’s been invested through this feature till now is Rs. 10,000 and it has increased to 18,402 then that is the current value. . The current value depends on how the fund is performing, and this value can change on a daily basis (there can be profits or losses).
Mutual Fund – The fund that you have selected, for your spare change to get invested in (once it reaches or crosses Rs. 100)
Round up – This is the value by which we will round up all your savings account transactions/payments. For example, a roundup of Rs. 10 means if you spent Rs, 152 on Swiggy, we will round this up to the next 10 (Rs. 160) and then see how much spare change you have saved (Rs. 8 in this case). You can select the roundup value to be Rs. 10, Rs. 50 or Rs. 100.
Accumulated Change – Here, we show you the details of the spare change that is getting accumulated, while you are using the Niyo Equitas Savings account. We show you details about the transactions (spending/purchases) that you have made, how much you have spent, and also how much spare change was saved.
For example, if you spend Rs. 152 on Swiggy and the roundup value is Rs. 10, it will make a note of the spare change as Rs. 8 (160-152).
We also show you how much spare change has been accumulated till now (in this current cycle). If you refer to the example in the screenshot, it shows that Rs. 75 has been saved till now, and once the saved change reaches Rs. 100, it will get invested (this can be seen inside the circle in the screenshot)
Past Investments – Here, we show you the investment transactions that have been made through this feature. It will show you how much amount got invested, on what date, and in which fund. For any investment that may be in progress or may have failed, we also show their status.
View full portfolio – Clicking here will show you your complete mutual fund portfolio (investments made through this feature and the Mutual Fund section).
Whenever you spend using your NiyoX account, we need to know what value we should round up your spend to, in order to calculate the spare change. For example, a roundup of Rs. 10 means if you spent Rs, 152 on Swiggy, we will round this up to the next 10 (Rs. 160) and then see how much spare change you have saved (Rs. 8 in this case). You can select the roundup value to be Rs. 10, Rs. 50 or Rs. 100.
The default roundup value is Rs. 10, but you can change it to Rs. 50 or Rs. 100 too, if you wish to.
No, we only make a note of the spare change calculation every time you spend using the NiyoX account. Only once the accumulated spare change amount reaches or crosses Rs. 100 is when we send an auto-debit request to your bank, to deduct this amount and invest it in the fund that you have selected.
For example, if you have spent Rs. 152 on Swiggy (and the roundup value is Rs. 10), then only Rs. 152 will get deducted from your account at that time. However, we will make a note of the spare change that will be calculated as:
Rs. 152 can be rounded up to Rs. 160 (rounded up by 10). Spare change = Rs. 8 (160 – 152). Once the accumulated change reaches Rs. 100, it will get invested.
Yes, you absolutely can. Just click on the fund name (the existing one) that reflects on your Invest the Change home page, and then select any other fund of your choice (you will see options that allow a minimum investment of Rs. 100).
Note: If there is already an investment that’s in progress, then it will go into the fund that was chosen at the time when the investment went in progress. All future investments will be in the new fund that you have selected.
Yes, you can withdraw your money from investments made through Invest the Change, at any time you like.
You can follow these simple steps:
There may be some charges and taxes levied by the Mutual Fund companies and the government respectively. You can read more about it here. We also show you details about the charges/taxes on the redemption page.
It can take upto 5 working days for the investment to get processed and for the mutual fund company to send us all the details (they need to reconcile payment with transactions, send us details such as units, NAV, etc) to update your portfolio/dashboard.
Often, such details get sent to us 1-2 days after the mutual fund companies send you an email/SMS confirmation.
To check the status of your investments, click on the Investments section (bottom of the screen) > click on the Investment Summary Card (where it shows your current amount) > Recent Transactions > click on any transaction.
Note: Saturday & Sunday are non-working days.
You can click on “Past Investments” on the Invest the Change page to view all the investments that have been made through this feature to date.
Refer to the screenshot below:
(Note: this is just an example, and thus the numbers showing here are random)
You can click on “Accumulated Change” on the Invest the Change page to view details of the transactions made from the savings account and also the calculation for how much the spare change is.
© goniyo.com2022 | FINNEW SOLUTIONS PVT. LTD.
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 –
Here’s how the concept of ‘Invest the Change’ would work and round off your purchases (in this case to the next ₹ 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!