iNRI Smart Investing Tool: Personalized Mutual Fund Solutions for NRIs

What is iNRI’s Smart Investing Tool?

The iNRI Smart Investing Tool can help you create a portfolio tailored to your unique preferences and financial goals. It uses machine learning (ML) to analyze your risk tolerance levels and investment preferences to simplify the investing decision-making process. The tool also offers fund recommendations tailored to your unique needs, making mutual fund investing easier.

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Features of Smart Investing Tool

iNRI's Smart Investing Tool comes loaded with features designed to make investing more informed:

Risk assessment: The tool analyses your risk score to ensure your portfolio is aligned with your risk tolerance levels. The tool suggests an aggressive, moderate, or conservative portfolio based on your risk score. 

Investment plan customization: You can choose between lump sum, monthly, or quarterly SIPs, along with your investment horizon. The tool will factor these in so that the return estimations are more accurate and based on past performance and future market trends. 

Flexible smart portfolios: The tool's primary goal is to ensure you have control of your portfolio without compromising on the intelligence behind the recommendations. This is achieved by giving you the option to swap funds, adjust asset allocation, or even shuffle the entire portfolio. 

Machine learning driven recommendations: The tool uses machine learning to provide precise investment recommendations. It analyses a vast dataset of market trends, fund performances, and your unique preferences to suggest an optimized and personalized portfolio that can help you stay ahead of the curve.

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How Does iNRI’s Smart Investing Tool Work? 

The following steps will guide you in using iNRI’s Smart Investing Tool:

Create an account with iNRI, and log in to your account. Select the Smart Investing Tool from the 'Tools' tab.

On the Smart Investing Tool page, you can add your risk score or check it by answering few simple questions - Risk score assessment test.

To know your risk score, you will have to answer a few simple questions, which will be the primary input for assessing your risk score. Some of the inputs you must provide are 

• Your age
• Investment horizon
• Your intention to invest
• Ideal capital for investment
• And more.

Based on the answers you provide, the risk score is calculated. A high-risk score would mean you have a higher risk tolerance, and a low-risk score would mean you have a lower risk tolerance.

Based on your risk score, the tool will personalize your investment portfolio and split it between equity and debt funds. 

Next, you must provide your ideal investment plan. You can choose between lump sum and quarterly and monthly Systematic Investment Plans (SIP). Based on your input, the tool will estimate your returns for a given investment tenure. 

Then, you must click on 'Get my smart portfolio' to get a personalized portfolio. 

Once you have your portfolio, you can switch funds, shuffle funds, omit a fund, or even change the asset allocation.

Once you are satisfied with the portfolio, click on 'Invest Now,' and you will be redirected to a confirmation page. Here, you can edit the amount you want to invest in each fund and omit a few funds. 

The last step is to click 'Proceed' to invest in these funds. If your onboarding is pending, the website will redirect you to the 'Onboarding' page. Once the onboarding is done, you can start investing in the customized portfolio designed for you. 

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Advantages of Using the Smart Investing Tool

The Smart Investing Tool has the following advantages:

Personalized investment plan: The tool provides tailor-made investment recommendations based on risk tolerance and investment preferences. This ensures that the portfolio is aligned with your specific needs. 

Simplified investment process: It simplifies the complex process of mutual fund investing by providing easy-to-understand recommendations and automated portfolio management.

Machine learning-powered insights: It leverages machine learning to analyze vast amounts of data to provide accurate and timely information. 

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How Can NRIs Invest in Mutual Funds?

NRIs can invest in Indian mutual funds easily through the iNRI platform. The entire investment process is 100% online so that you can invest in mutual funds from anywhere in the world. To invest in Indian mutual funds, you will need to get your NRI KYC done. Here are the documents required for your NRI KYC -

• PAN Card
• Aadhaar (Recommended)
• Current Address Proof
• Passport Photo
• Hand Signature Photo
• Passport
• OCI Card (non-Indian passport)

To start your investments, you will need an active NRE or NRO bank account.

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Best Mutual Funds for NRIs

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Frequently Asked Questions (FAQs): iNRI Smart Investing Tool

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Is iNRI’s Smart Investing Tool free to use?

Yes, the Smart Investing Tool is free to use. All you have to do is register with iNRI, and you can start using the tool for free. 

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Why NRIs must invest in Indian mutual funds?

India is the fourth largest economy, with an average annual GDP growth of 7%. By investing in Indian mutual funds, NRIs can participate in this growth story and potentially earn attractive investments. Moreover, by investing in Indian markets, NRIs can diversify their portfolio globally, reducing the risk of investing in just one geography. Finally, investing in Indian mutual funds has become easier than ever for NRIs with online platforms like iNRI. 

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What are the tax implications for NRIs investing in India?

NRIs investing in Indian mutual funds are subject to Indian income tax laws. Short-term capital gains for equity mutual funds are taxable at 20%, whereas for debt mutual funds, they are taxable at 30%. Long-term capital gains for equity mutual funds are subject to a tax of 12.5% for gains exceeding Rs 1.25 lakhs, and for debt mutual funds, they are taxable at 30%. 

Further, these capital gains attract a Tax Deducted at Source (TDS) of 20%. 

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What bank accounts do NRIs need to invest in India?

To invest in Indian mutual funds, you will require a NRE or a NRO bank account. 

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Does iNRI’s Smart Investing Tool guarantee returns?

No, iNRI’s smart investing tool doesn't guarantee investment returns. Mutual funds are market-linked instruments and, thus, do not generate predictable returns. The tool simply analyses historical data and fund returns and suggests the best funds for investment. 

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