Coco Neobank - DIY finances

Coco Neobank - DIY finances for everybody.

We believe managing your finances should be simple and something you can on your own

The problems in the markets today is information overload. To simplify things we follow a simple set of thumb rules at all stages of buying process.

We also look at a person’s working life as a whole and divide it into phases and advice you the right product at the appropriate life stage.

22 - 35: A user enters workforce.
At this stage our advice is to buy three products:
• Index Mutual funds in the form of a SIP with a time horizon of 30+ years
• Life insurance
• Health insurance

Take a personal loan for further education or an online course which helps you increase your income substantially.

35-45: Buy a house in which you plan to live. Take out a home loan for this as well an insurance for the home loan you have bought. Do not stop your SIP's in Index MF. Never buy a bundled insurance along with the home loan.

60: Retire. Liquidate all your Index MF’s. Move money into FD’s.

Yes, the above is a basic and a simple plan. We believe this will work more often than the most complicated ones. Also when you keep things simple, you free up a lot of your time which you can then spend with your loved ones or on your hobbies.

So where do we come in ?
We help you buy the right product. No Bullshit. No confusing product combinations. No Marketing gimmicks. No nudge theory. No Opt ins. No check boxes( Both which are clicked by default those which aren’t). We try to do this by giving you a curated marketplace where you have a choice and you are not overloaded with unnecessary info.

We use two thumb rules here:
• Always compare and buy.
• Use a method of elimination to arrive at the product you want to buy so that you buy the simplest and basic product that you need. It will also be the cheapest.

Our detailed product wise rules and do’s and don’ts below.

Credit card:
Take a Credit card if
• You are a gamer at heart and love the rewards points game.
• You are in it for the flash sales at e commerce providers.
• You need to make purchases from foreign websites which can only be done using Credit cards.
Don’t take one if:
• You plan to use it for buying the next flashy mobile phone, or even your dinner because you don't have money this month in your salary account.

Generally speaking, even if you have a credit card, do not get addicted to postponing your payments by paying the minimum amount due(MAD) because the annual interest rates on credit cards can be as high as 38%.

Mutual Funds:
The problems we see with Mutual funds is two fold - the complicated names of the MF’s and a plethora of products with names that are difficult to comprehend ( Fund of funds, Hybrid, Contrarian etc.)

To get out of this mess we just recommend Index based funds. Furthermore, the MF we display meets three simple criteria:
• They are all direct plans.
• They are all Index plans. Meaning, they just track an index like BSE, Nifty 50 or Nifty Next 50.
• The expense ratio of the MF is less than 0.3%.

Make monthly SIP's for MF as the downside risk in MF is around 50 - 60% in the short term. SIP’s buffer you during this 50% fall.

We eliminate debt funds, Fund of Funds, Contrarian Funds, ELSS and Tax saver funds from our list as we do not see them useful.

Personal Loans:
• Our criteria is very simple - we offer personal loans where the interest rate is less than 18%.

Life Insurance:
Insurance is the most tricky one and unfortunately the most complicated one. Our criteria is to eliminate all the below to arrive at what you should buy:
• Bundled products
• Return on premium plans
• Tax saving options

We always welcome feedback. Please write to us at and share your views.
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Additional Information

January 16, 2020
Current Version
Requires Android
4.4 and up
Content Rating
Offered By
Coco Neobank
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