Trying to grow your wealth but struggling to juggle and handle multiple investments? Axis Bank’s Mobile Banking app,
Open offers My Money, a comprehensive solution that is designed to simplify your financial journey.
What is My Money?
Imagine having an Axis Personal Finance Manager that tracks all your investments and helps you monitor your financial
gains. Axis Bank’s ‘My Money’ does just that- it is like a personal finance manager that empowers you to make
informed decisions and achieve your financial goals with ease, only in a few clicks.
Available to all Axis Bank Savings Account holders, it provides you
with valuable insights under an array of features.
My Money features
1. Comprehensive net worth tracking
My Money enables you to view your complete net worth by
tracking assets, like investments and savings, alongside liabilities such as Loans and Credit Card balances across
multiple accounts.
How is it useful?: Summarises your financial information and allows you to add accounts from other banks to provide
you with a detailed overview of your investments.
2. Investment overview and optimisation
With My Money, you can view your investments in Axis
Bank products, such as Mutual Funds, Equities, Digi Gold, NPS, Savings bonds, Sovereign Gold Bonds (SGBs) and PPF.
It also helps you optimise your investment portfolio, along with direct links for easy access to additional
investment options.
How is it useful?: Make informed decisions to diversify and grow your wealth more effectively.
3. Spends insights and trends
My Money automatically categorises your spending, providing you
with a clear breakdown and a trend chart that displays your monthly expenses across all payment methods.
How is it useful?: Understand your spending patterns, making it easier for you to manage your spending habits.
4. Access to credit score and detailed report
This feature also offers free access to your
credit score and provides a comprehensive credit report, which includes Loan and Credit Card details.
How is it useful?: Monitor your credit health and understand your creditworthiness.
5. Tailored health & life insurance recommendations
Based on your age and income, My Money
provides personalised health & life insurance recommendations. It also offers quick links to initiate the
purchase process, helping you find suitable insurance plans directly through the platform.
How is it useful?: Secure the right coverage tailored to your unique needs, ensuring you and your family are
protected.
Why should you use My Money?
1. One platform for complete financial tracking
My Money serves as a one-stop solution for
monitoring all financial aspects, from net worth to insurance, allowing you to stay on top of your finances
effortlessly. With access to a unified dashboard, you can track, manage and optimise your wealth with ease.
2. Improve savings and spending habits
With My Money’s Spends module, you can view daily and
monthly expenses across various categories. This helps you identify your spending patterns and manage your budgets
effectively.
3. Optimise investments and diversify portfolios
My Money’s comprehensive overview of all your
investments helps you gain crucial insights to effectively diversify your investment portfolio and maximise your
returns.
4. Credit score tracking and debt management
You can monitor your credit score at no extra cost,
receive detailed reports and keep track of outstanding dues on loans and credit
card with My Money. This feature
supports better credit health and helps you improve your creditworthiness.
How to use My Money?
1. Download Axis Bank’s Mobile App - Open via Google Play and App Store and open its home page.
2. Navigate to the ‘More’ option at the bottom right of the page.
3. Locate the ‘My Money’ icon, which will appear at the bottom left of the page. Click on it to proceed.
4. You will be redirected to the My Money landing page, where you can explore various modules in the following order:
- Your Net worth
- Your Investments
- Your Spends
- Your Credit Score
- Your Protection cover
Dive into each section to gain a comprehensive understanding of your financial health.
Also Read: How to Open
a Bank Account in 5 Easy Steps?
Wrapping up
With Axis Bank’s My Money feature, managing your finances has never been easier. From tracking investments to
personalised insurance recommendations, it is a comprehensive tool that simplifies every aspect of your financial
journey.
Disclaimer: This article is for information purpose only. The views expressed in this article
are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd.
and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader
for taking any financial decisions based on the contents and information. Please consult your financial advisor
before making any financial decision.
