INDmoney reviews for US stocks

As Indians, we also want to invest in US stocks for portfolio diversification, getting US market returns, US Dollar currency appreciation, etc. However, to invest in the US stock market, we need a US Stock account. In recent years, many Indian stock brokers have introduced US investment. INDmoney is one of the top companies that provides US stock investment platforms. In this article, we will discuss INDmoney and its various features.

What is INDmoney?

INDmoney is a super app that tracks your bank account balance, loans, all kinds of investments, etc, and shows them in a single app. Besides this, INDmoney allows users to invest in US Stocks, FDs, mutual funds, etc with zero commission. Users can also choose insurance from different companies and buy using this app.

Users can plan their investments according to their goals, whereas INDmoney offers premium membership. At an affordable price, this premium membership helps in your investment journey through INDmoney.

INDmoney was founded in the year 2019 by Ashish Kashyap which is one of the top US stock brokers in India.

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What features INDMoney App offer?

Here we will discuss various features that can be availed in the app

  • US Stock: Invest directly into US stocks without paying any extra charges as fees. They charge minimal GST for adding funds to your US stock account.
  • Easy account opening: No charge for account opening. The account opening process is fast and paperless.
  • Track your net worth: INDmoney can track all your investments, and savings once you provide permission to the app. It gives easy access to your net worth which is also updated by the app with each change.
  • Mutual Funds: You can also invest in various mutual funds using this app. They provide both SIP and one-time investment options where one can choose any funds from different categories such as Equity Funds, Index Funds, Debt Funds, Hybrid Funds, etc.
  • FDs: INDmoney provides high return FD investment options. It has IND Super Saver Funds, Shriram Transport Finance, and Bajaj Finance Funds. The returns are higher than any other bank FDs.
  • Mini Save: You can set to save the spare change from your spending on a daily basis. Once you complete the setup it will track all your spending through SMS and rounds up to 10. You get 3.5% interest on the same savings. Once the savings reach 1000 INR they will be auto invested in the US stocks. You have the option to set the investment as per your convenience.
  • IPO: You can also invest in Indian IPOs.
  • Insurance: INDmoney provides Term Insurance, Health Insurance, Super Top Up, and guaranteed Return in their app. You can check the benefits, t&c, policy brochure, etc, and choose the best fit for you.
  • Credit Card bills: You can also track your spending through credit card and monthly bill information in the app. INDmoney provides the spending analysis reports within 24 hours of statement generation.
  • Credit Score: One can also check their credit score and detailed report.
  • Financial Plan: You can set goals and plan your investment accordingly.
  • Family Profile: You can add your family members to your account which will provide portfolio access to all the accounts.

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IND Prime Membership

INDmoney has a membership account option apart from the free services. If you want to learn more about the IND Prime benefits, please go through the below points:

  • INDmoney charges a nominal fee of 99 INR per month for the IND Prime membership. You can opt-in by setting up the recurring transaction through your net banking or UPI.
  • Customized basket of investments curated by a dedicated team of Research analysts, Tax Consultants, and Financial advisors.
  • A detailed action plan to reach your financial goals.
  • You can transfer funds to your US Stock account within 24 hours.
  • No charge for withdrawing funds from the US Stock account. (withdrawal should be above 100 USD).
  • You get a joint account, you can also add unlimited family members.
  • Monthly audit of your portfolio.

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How to start with IND Money US stock investment?

If you want to start investing in US Stocks via INDmoney, please follow the below steps:

  • First, install the App from the Google Play Store or Apple App Store.
  • Sign up with your mobile number and OTP.
  • Enter your Name and email address.
  • You can allow INDmoney to track all your investments and credit cards.
  • Then it will ask you to create a zero-balance savings account with SBM bank for free transfer to the US Stock account.
  • For the account opening process, you will need your Pan Card, passport or Aadhaar Card, and a bank statement. The process is paperless and fast.
  • Once you successfully create your account, you can add funds to your US stock account, which will be created by INDmoney for you. Funds will be added to your SBM account and then they will be transferred to your US stock account.
  • Once you have loaded your US Stock account, you can start investing in US Stocks.
  • The 2-in-1 account opening is free and safe to use. INDmoney does not charge any commission for buy or sell orders. It only charges GST to add funds to the account.

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FAQ Related To INDmoney

Is INDmoney safe to use?

Yes, it’s a safe investment platform. INDmoney is also a SEBI-Registered investment advisor.

Can I get the reports in the app for tax purposes?

You can download the reports from the app easily.

How much INDmoney charge for their prime membership? Can I cancel it anytime?

The IND Prime Membership comes at an affordable price of 99 INR per month. It can be canceled at any time as per your requirements.

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