Invest In SIPs With Just Rs 10 — Enrich Money Becomes First ONDC Broker Offering Rs 10 SIPs
The firm offers mutual fund SIPs with a focus on reaching 1 million users in Tier 2 and Tier 3 cities within 12 months.
Enrich Financial Pvt.'s Enrich Money stock brokerage is offering systematic investment plans that can be availed starting from Rs 10, according to a press release from the firm on Monday.
The Securities and Exchange Board of India-accredited brokerage is integrated with the Open Network for Digital Commerce and is available through the Orca: IPO, Stocks & Commodity app.
The firm offers mutual fund SIPs with a focus on reaching 1 million users in Tier 2 and Tier 3 cities within 12 months. According to the release, its partnership with the ONDC network is to facilitate a stable connectivity between asset management companies and mutual fund distributors.
"ONDC Integration ensures seamless, secure, and cost-effective access to mutual funds across platforms, aligning with SEBI’s standards for transparency, interoperability and investor convenience," the release said.
The company said that it anticipates "wide pariticipation" from college students, gig-economy workers and rural households. It also offers 100% digitial onboarding via Aadhaar and Permanent Account Number. The firm claimed that prospective investors do not require paperwork to access the SIPs.
"With a simple UPI mandate, investors can start small and gradually build the habit of saving and investing, even if they are first-timers from smaller towns. SIPs can be paused, skipped, or changed anytime, making them flexible enough to suit pocket money, daily wages, or small-business cash flows," Ponmudi R, chief executive officer of Enrich Money, said.
Enrich Financial SIP launch follows the recent wave of small and micro-SIPs that have cropped up in the past few months. Industry experts were "bullish" on these kinds of investment plans but also stated that it will take time for such SIPs to become profitable for mutual funds.
SEBI had proposed small ticket SIPs starting from Rs 250, while LIC Mutual Fund offered pocket SIPs starting from Rs 100, with over 60,000 registrations as of April 2025.
