How ET Money applied reward-based festive spending experience to investments

India’s highest rated independent Mutual Funds App & fastest growing Investment Advisory Platform, ET Money, has been building a strong customer base of more than 10 million users across 1,400 cities in less than five years. It has been pioneering in building industry-first technical solutions such as paperless video KYC for MF investments, which is the country’s first Aadhaar-based SIP payment feature, among others.

During the festive period this year, ET Money had rolled out the Great Indian Investment Festival, a one-of-a-kind festival through which the platform drove wealth management behaviours beneficial to retail investors, both in the short and the longer term. This is the first time in India that people are being rewarded for their good behaviour.

ET Money emphasised on making investment a habit among Indians through this one-of-a kind investment festival. Rewards worth Rs 20 lakh were given to people who showcased good investment behaviour. A massive discount of 60% on ET Money Genius Membership fees was also given. There was also additional reward on early tax saving in the financial year, along with special discounts and free ET Money Genius Membership months.

In conversation with Adgully, Mukesh Kalra, Founder and CEO, ET Money, speaks about the Great Indian Investment Festival initiative, how ET Money has been steering people towards long-term wealth creation, the ET Money Genius service, and more.

How did ET Money arrive at the core strategy behind the Great Indian Investment Festival?

The festive season encourages most people to buy things they don’t really need, eventually disrupting their monthly budgets and sabotaging their financial plans and saving goals. ET Money is emphasising on the importance of making investing a habit among Indians through this one-of-a-kind investment festival. It has been a tradition for Indians to indulge in festive spending and earn rewards in return. As part of our efforts to motivate Indians to invest, we decided to apply the same reward-based festive spending experience to investments, so that people take the necessary steps to make their future financially secure.

What was there for consumers in this festival?

The Great Indian Investment Festival was all about saving and earning rewards over 17 days and making good habits along the way. Through the festival, users were able to invest in high-return fixed deposits, save taxes through a variety of tax saving products, and gain investment intelligence through ET Money Genius. As successful investing is the foundation for long-term wealth creation, this festival helped Indians to develop a habit of investing early on and get rewarded for building this good financial habit. 

How was the festival aligned with ET Money’s goal of long-term wealth creation for the Indian retail investors?

To create wealth, you need to invest systematically and start early. The unique festival gave users a platform to take the first steps towards long-term financial security and wealth creation, aligned with our mission to assist Indians in creating wealth for the long term. Also, with India embracing an investment culture, we wanted to encourage people to invest and save more. And to do this, we went one step further to reward even the good habit of getting one’s friends and family to invest money through unique referral rewards. This way, more Indians were able to participate in the wealth creation journey and also got rewarded for taking their first steps.

What were the several offers and discounts available for the ET Money app users?

This festival’s grand prizes included the latest iPhone 14 Plus, iPad Air, and Royal Enfield Interceptor bike. Users could also win up to Rs 2 lakh for referring friends to invest in the app and develop good financial habits. In a nutshell, this festival was all about saving, earning, developing good financial habits, and being rewarded for it. 

Which investment products were available for the users under this festival offer?

This festival allowed users to invest in high return fixed deposits, tax-saving instruments such as ELSS, NPS, and insurance, as well as a chance to become a member of ET Money's flagship offering – ET Money Genius, which provides users with intelligent investing strategies at a discounted price. In all, this festival helped a user in securing their financial future by savings and developing investing as a habit. 

What were the long-term benefits that users could achieve by participating in this festival?

With this festival, users could not only win rewards, but also secure the financial future of their families. We feel privileged that we were able to assist Indians in developing the habit of investing early and in a guided manner because successful investing is a stepping stone toward long-term wealth creation.

By taking part in the festival, users were able to begin their journey to accumulate long-term wealth by investing in high-yielding fixed deposits, saving taxes with a variety of tax-saving products, and gaining investing intelligence with the ET Money Genius subscription. ET Money aims to provide its users with a comprehensive platform of wealth creation tools and investing intelligence through such innovative initiatives.

What is the expected impact on business during the festival season?

The festival offered a variety of financial products like fixed deposits, NPS, ELSS, insurance, and a chance to become a member of ET Money Genius – a subscription-based service, which empowers users with investing intelligence. The response has been quite overwhelming, and Indians have taken advantage of this opportunity to invest, safeguard their financial future, and receive rewards. As this festival was aimed to benefit users in the long run, we are extremely pleased and are firmly headed to continue with our mission of simplifying the financial journey for Indians.