The way India saves has changed a lot. While earlier generations relied on fixed deposits and recurring deposits at the neighbourhood bank or the post office, the new generation wants to do everything on their phone without paperwork or having to go physically to banks, start with small amounts & track everything on their fingertips.
Bachatt (Hindi for “savings”) is one of several fintech apps built around that idea. This Bachatt app review covers what the app is, how it works, the various investment products it offers, its strengths and weaknesses, and evaluating whether it is safe to invest or not.
What is the Bachatt App?
Bachatt is a savings & investment app targeting India’s middle and upper-middle-income households. It pitches it as a savings app for every Indian, from first-time savers to experienced investors.
The app primarily simplifies savings and mutual funds for new & not so experienced investors. It has offerings like Insta Fund (a liquid mutual fund basket offering instant redemption), MF baskets curated by them, gold & silver mutual fund baskets, loans and credit cards- all from one app. The app design is tilted towards small daily/weekly/monthly savings via UPI autopay. Everything starts from ₹100, and the company says the low entry amount is meant to remove the barrier to trying any instrument.
The app is run by Trusave Fintech Private Limited, based in Delhi and Gurugram.The app is extremely popular in India- especially in tier 2 & tier 3 cities with 50 Lakh+ downloads and 1 Lakh + reviews on Playstore.
Bachatt App Offerings:
Bachatt Insta Fund
Insta Fund is essentially a basket of liquid (debt) mutual fund with instant redemption. It aims to provide FD-like returns, with instant, UPI-style withdrawal whenever you need it. The minimum investment starts from ₹100 per day, or weekly, monthly. There is no premature withdrawal penalty or lock-in as such. Right now it has 4 Insta Funds Baskets (each containing 2 liquid mutual funds from different AMCs) as well as 3 standalone liquid fund schemes from AMCs. This is similar to investing directly in liquid funds offering instant redemption directly- just that you have to manage it yourself whereas here you have just one app to do withdrawals, investments, etc and it gets divided among the AMCs.
Bachatt Mutual Funds: Long-Term Wealth
For longer goals, Bachatt offers regular mutual funds from AMCs such as ICICI, SBI, Axis and HDFC. It has curated mutual fund baskets with names like MAXX Plan, Balanced Plan, Market ke Returns plan, etc. as well as a few regular mutual fund schemes. It gives each scheme something called Bachatt score, which the website says rates every fund on 100+ parameters several times a day.
Bachatt Gold and Silver
Bachatt lets you buy gold and silver through SEBI-regulated mutual funds, entirely digitally, with no making charges or fees. The website adds that there is no GST, no lock-in and no worry about lockers or purity, and it contrasts this with digital gold, which sits outside SEBI regulation.
Loans on Bachatt
Bachatt also gives its users access to personal loans. Bachatt is not directly a lender though- the loans come from an RBI-registered NBFC partner, Western Capital Advisors Private Limited, and approval depends on its eligibility checks. The disclosed APR ranges from 12% to 40% a year, tenure is 2 to 24 months, and the processing fee is 0% to 5% plus GST, with no bounce or prepayment charges.
How to Start Investing on Bachatt App?
- Install the app from the appstore and register with your mobile number.
- Complete KYC with PAN and Aadhaar OTP, which the website says takes about two minutes.
- Pick the desired investment product and an amount, daily, weekly, monthly or one-time.
- Approve UPI autopay in your usual UPI app like GPay, Phonepe, etc.
- Track everything in the passbook, and pause, change or stop SIPs whenever you like.
Is Bachatt Safe and Legit?
Bachatt is run by Trusave Fintech Private Limited which is an AMFI-registered mutual fund distributor, ARN-321640. BAchatt only acts as a platform, the money flows directly to the AMC’s which are SEBI regulated. Hence it is completely safe. You can even see your holdings directly on the AMCs website after logging in. Having said that, the risks pertaining to market linked return investment products are still applicable- even if you invest in them via any other third party platforms or directly with the AMC. Hence invest keeping in mind your asset allocation.
Pros & Cons of Bachatt
Pros:
- Simplified savings- One app to manage all investing
- Curated baskets of mutual funds- helpful for people who are new to investing or not seasoned investors
- Easy onboarding & simplified investment process using UPI
Cons:
- Works with regular plans- costlier then direct plans
- Cannot invest in mutual fund schemes except the ones shortlisted by them
- The app design seems heavily tilted towards small & daily savings.
Conclusion
Bachatt does what it promises: it lowers the barrier to saving by simplifying mutual fund offerings & automates investing in them through UPI daily, weekly or monthly SIPS starting from very small amounts- as low as Rs.100. However, if you are a seasoned investor already investing in mutual funds, you might not find much value in its offering. On top of it, Bachatt distributes regular plans of mutual funds. Regular plans carry higher expenses than direct plans. However, if you are a new or not so seasoned MF investor, want to get started without too much hassles, Bachatt is an app worth trying!
