Lemonn launches zero-commission Mutual Funds for its users

Business MInutes

PeepalCos latest offering, Lemonn has launched Mutual Fund investment service on the app to help new investors diversify their investments. This marks a significant step towards the company’s goal of evolving into a comprehensive wealth-tech player. 

Users can invest in mutual funds directly and commission-free on Lemonn and start with as low as INR100. They can also track their investments made on third-party apps using the Portfolio Import feature. The app offers schemes from over 40 fund houses, including major AMCs such as HDFC, SBI, Axis, to name a few.

Speaking on the announcement, Devam Sardana, Business Head, Lemonn, said “Our goal is to empower first-time investors to gain a deeper understanding of the investment landscape. Thus, Introducing mutual funds on Lemonn is a natural step forward for us. The rapid growth of Indias mutual funds industry, outpacing countries like the US, Japan, and China, underscores a clear and growing demand. This demand can be further enhanced by offering simple, transparent, and affordable products.”

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