Scripbox is an online mutual fund investment platform for first time investors. An algorithm selects 10 mutual funds among 4 categories (from long-term to daily spending money).
- Scripbox offers an automatic selection of 10 funds (from 8 000+) for each investor: 4 equity funds; 3 debt funds; 2 tax-saving funds and a last debt fund for daily spending
- The selection of the funds is 100% carried out by an algorithm, in a scientific way without any human involvement or bias
- The service offers new recommendations of funds every year based on the funds’ performances. Most investments are focused on long-term perspectives
- Launched in July 2016, the Scripbox Application (Takecharge) helps consumers to plan their finances, learn more about money, and gives them access to Scripbox for investments
- Expert recommendations and analysis: on investors’ portfolios, annual review, re-balancing services and recommendation delivered by experts
- Simple process: as easy to invest as to withdraw money
- Tax-reductions: are possible through the Equity Linked Saving Scheme
How To Use
- Detailed and personal information about the investor is required at the online registration.
- Different documents need to be sent back and for some investors, an “In-Person Verification” is requested
- There is a minimum investment which is 1’000 Rs (around US $15)
- Once the account is created and validated the consumer can opt to set an alert and statements about their investments
- Users define their investment strategy using the 10 pre-selected funds