myCAMS Review – Buy Sell Invest Mutual Funds

With a rather tumultuous year coming to an end, people have realised the importance of savings and investments. Millions of people have lost their jobs in the span of a few months, compelling them to live off their savings. Lately, people have understood the importance of investments and how life-saving they can be in times of need.

However, investments can be a daunting affair.  There are so many decisions to make, so many options to choose from and considering how investments demand you to put in your hard-earned cash, it requires a whole level of diligence that can be very hard to maintain in the long run.

myCams is such an investment portal that offers digital convenience to a lot of investors. It allows the investor to buy, sell, and even switch and invest in mutual funds online by using the several tools offered by the portal. myCams has, in the last couple of months, grown to be an investor’s go-to site simply because of the ease it offers.

Features offered by myCams for investors

1. Offers a Dashboard View: A dashboard view when it comes to your money is really useful as it allows you an overview of all the places where you money is at, at a glance. You will be able to see the total investment amount, market value and even the annualised return detail. You can also get information regarding your assets class wise.
2. Allows Future Transactions: Keeping a track of investment due dates can be quite a task. myCams keeps a track of several investments and notifies investors when the due dates are approaching. This way, investors can even schedule their future transactions and not worry about keeping a track of dates. Essentially, it is one less thing for investors to worry about.
3. Monitor Investments: As an investor, you would like to analyse your investments on a daily basis which can be quite tedious. With myCams, there will be a myWatchList feature which will enable you to monitor your investments, show you current NAV, returns, loads or fees and see how your funds perform in real time.
4. Online form 15G/H: myCams even allows you to fill and submit 15G and 15H forms online. 15G and 15H prevent TDS deductions on MF dividends so that you do not lose out the money you so rightly deserve. This would essentially combine and form for all fund folios.

Review

Like everything, myCams has its fair share of pros and cons. Let’s discuss some of them here.

Pros:

• myCams offers a single platform to view your portfolio
• It allows you to invest across 16 different mutual funds
• It is an online and paperless investment portfolio
• There are multiple features like digiSIP, digiNFO, watch list, etc
• Online platform as well as a mobile application for investment and tracking
• There is two-factor authentication for added security

Cons:

• Only 16 mutual fund houses are supported out of 44.
• Customer support isn’t all that great.

Conclusion

With these pointers in place, one can ascertain that myCams has more positives outweighing the negatives, thereby making it a great portal for investors nationwide. When times get tough, know that your financial decisions you make for a rainy day are those that come to rescue you.