Bangalore based start-up Moneysights has launched a new Facebook app for tax saving, a move meant to expand what it already is trying to do – change the way people invest in Stocks and Mutual Funds.

Link to app

It is a quick, easy to use app that requires one to fill in some basic details and it generates information regarding which plan would work best to save your money. It just takes a few minutes for the app to list out the best tax saving instruments for a user. Although there are many tax saving calculators online, the Moneysights app seeks to go beyond just being a mere calculator. It starts with the amount one wants to invest and analyses one’s risk profile to generate a few options of Mutual Funds to help one choose.

Facebook Moneysights App - showing how you can diversify your portfolio

The app is interesting as much as useful, making tax saving calculation a fun thing to do. The app neatly helps one compare Mutual Fund options and shows how much one would have saved if they’d invested in a particular plan 3 years ago. Once the calculation is done, the user is redirected to the Moneysights website to complete the transaction.

The app is simple and primarily designed for those with little or no exposure to investment strategy. The website has been generating considerable traffic through facebook and twitter, and the launch of the new app is sure to help the site reach to a wider user base and generate leads for itself.

Coming to the Facebook platform integration of the app, what we liked about it is that the app asks for some basic requirements from your Facebook account such as your basic details and e-mail addresses unlike other spam apps on Facebook which demand a dearth of permissions from your Facebook account.

Permissions required for the Moneysights Facebook app