Kotak Cherry Review: Does It Deliver On Its "Grow Wealth" Promise?

Investing can be a hard-to-grasp concept, especially for people with no prior experience. Despite the availability of various tools and features, beginners find it very difficult to get started. Plus, the overall task of comprehending the right strategy for wealth creation is very unpredictable. What works at one time might be a super flop at another.

But, some platforms also provide a well-designed blueprint to users to help them begin their investing journey. Today, I will be reviewing one such popular platform, Kotak Cherry.

Usually referred to as Cherry, Kotak Cherry enhances the smart part of investing for all users by facilitating a variety of assets. One big reason for the success of this platform is its versatility in providing various financial products at one location.

Catering to more than 2 lakh customers, Kotak Cherry entices clients looking for wealth management pretty well. This is the general statement I found while researching Kotak Cherry. But is the platform actually worth it? Does it make investing an easy and understandable feat for its clients? And if so, what are its perks and shortcomings?
Recover the answer to everything Kotak Cherry by going through this crisp and unbiased article.

What is Kotak Cherry?

Kotak Cherry is a digital investment platform launched by Kotak Investment Advisors Limited. This SEBI-approved advisory firm is a part of the popular Kotak Group, i.e. a subsidiary of the Kotak Mahindra Bank. Kotak Cherry was launched in 2020 under the investment advisory firm of the Kotak Group, Kotak Investment Advisors Limited (KIAL).

Popular for being a one-stop platform for investors, Kotak Cherry has received awards for its investment research and advisory.
The platform aims to simplify the investment process and help investors generate wealth from savings. It offers a range of investment options, including mutual funds, bonds, & stocks, and provides users with a user-friendly interface to manage their investments.

With Srikanth Subramanian as CEO, Kotak Cherry has been thriving, and their popularity speaks for itself. The platform also offers investment advice and facilitates the purchase of financial products through its tie-ups with banks and other financial institutions.

Features of Kotak Cherry

Kotak Cherry offers a range of features to help investors manage their investments effectively. Here are some of the best features one can utilise while going through their platform:

Variety of Calculators

Every investor has a different loss & investment capacity. By taking into account the income one earns, savings, expenses, debt, and other liabilities, the investing range varies. There are different types of calculators available for investors to find the right capital to invest in. Kotak Cherry contains four types of calculators:

1. Mutual Fund Calculator: Based on investors' choice to go ahead with SIP or Lumpsum investments, three parameters are provided for this calculator. By selecting the capital, the investment's duration and the expected return, you can find the right capital for investment.  
2. Crorepati Calculator: This calculator helps investors take the first step towards making their first “crore”. Based on the time of investment and the return one expects, you can get the monthly amount required to make the seven zero returns. 
3. Fixed Deposit Calculator: For people interested in fixed deposit investments, this calculator helps find the monthly amount and the interest one will earn during the chosen investment period.
4. Retirement Calculator: Everyone should have a plan for a comfortable retirement. Starting investing early in adult life is always the right choice. This calculator helps investors find the monthly amount they need to invest to achieve their retirement goals.

Articles On Finance

Kotak Cherry provides users with articles on finance and investing, which can help them stay updated on the latest market trends and investment strategies. Articles on different tags like Debt, ELSS, Largecap, Equity, Emerging Markets, Smallcap, etc., are present in this section.

Mobile App

Along with a website, Kotak Cherry is also available to users via an application in Google Play Store. Kotak Cherry’s mobile app allows users to access their accounts from anywhere.

Pros of Kotak Cherry

There are several benefits to using Kotak Cherry for investment purposes. Here are a gist of a few of them:

One-Stop Platform

The platform is a one-stop investment stop which allows investors to invest in mutual funds, bonds, IPOs, and stocks, making it a convenient option to diversify portfolios. Their mutual fund option is much more popular than bonds and stocks. One can browse the many options in mutual funds by going through three categories: Debt, Equity, and Hybrid. They also list the newly available funds and the upcoming ones. The best part about this option is there are mutual fund baskets available to suit every investor's preferences.

Free of Cost

An anomaly among its competitors, Kotak Cherry, is available for investors free of cost. This one factor makes it extremely popular and desirable to both beginners and experienced investors. Users can utilise the services available without worrying about paying extra for any feature.

Cons

Though the no-charge feature makes Kotak Cherry pretty attractive, there are still shortcomings to note. Here is a list of a few of them:

• The first thing I noticed while opening Kotak Cherry’s official website is that the website design doesn’t go well for an investment advisory firm. It looks more like a travel booking site with all the images of mountains, sea diving, and clouds floating. Even their sign-up page includes nature’s scenery as the background. Many might think the design doesn't matter, but it plays a big role in attracting users, especially beginners. A website design also helps users with less knowledge about the English language to find the feature they are looking for. So, I would suggest changing the scenery on the website to something that represents investments and savings.
• The customer support at Kotak Cherry takes more time to respond than one would find solace in. Plus, users can inquire about their queries via email and a bot. The bot needs too many directions, which can be confusing and time-taking during crucial moments.
• The mobile app of Kotak Cherry has a negative reputation for filling users' devices with too many bugs. The instructions to use features are also unclear for many, as reviewed by users. Since users prefer a mobile app due to easy access, the bad features of the application give Cherry a not-so-attractive touch.

Recipe: A Prime Platform for Financial Goal Planning

Everything Kotak Cherry lacks is present at Recipe. With financial goal planning features, accurate calculators, and detailed researched data, getting on with your financial goals would be super easy. Along with the usual mutual fund, stocks, and bonds, Recipe also includes insurance for investors to add to their portfolios.

Get premium insights on the best mutual funds trending by reviewing the well-researched reports by financial analysts. Get your retirement sorted by checking out the amazing plans from their website. Enjoy Chef’s Suggestions and & Secret Tips with the right plan curated just for you according to your investment diet.

The Bottom Line

Kotak Cherry is a great platform for people mostly focused on investing in SIPs. Despite including the feature for bonds and stock investments, the difference between their mutual fund and other options is evidently clear.

Plus, web design can seem complicated for beginners who have no experience using an advisory platform. So, for investors who wish to get started with their financial planning, Recipe would be a better choice. They also plan on introducing their Fine Dine advisory platform, which would further enhance the investor's experience for the best.