Best Mutual Fund App in India in 2024
Introducing the best mutual fund app in India, your gateway to effortless and informed investing. These apps empower you to explore, select, and manage a diversified range of mutual funds seamlessly. With user-friendly interfaces and real-time insights, investing in mutual funds has never been more convenient. Stay ahead of your financial goals with the best app to track mutual funds by your side.
Mutual funds are one of the best ways to invest your money and create long-term wealth for the future. Thanks to updated technology and mobile apps, mutual fund investing has become much easier and more convenient. We are a tech-savvy generation that enjoys staying informed and constantly receiving notifications. We need everything at our fingertips with few complications.
This article will delve into the best mobile apps for mutual funds. Let’s understand the meaning of the best mutual fund app in India.
What is a Mutual fund?
A mutual fund is a trust in which money is pooled from different investors and invested in a portfolio of stocks, bonds, or other investment vehicles. A fund manager manages the fund and invests the money according to the investors’ investment objectives.
There are two ways to invest in mutual funds: Lumpsum and Systematic Investment Plans (SIP).
Lumpsum allows you to invest in mutual funds in one go, which means you can make a one-time investment. On the other hand, SIPs will enable you to invest your money periodically, say monthly, quarterly, or half-yearly.
A SIP is a simple method for regularly investing in mutual fund schemes. You pay a fixed monthly amount and see the magic of compounding after a few years. It is like a recurring deposit, where you can invest a small amount regularly.
Comparative Evaluation Using the Principal Elements
List of Top Mutual Fund Apps in India-
Here is the list of top mutual fund apps in India-
|
S.No | Mutual Fund App | Rating |
Login/Sign In Link |
|
1. | Groww App | ⭐⭐⭐⭐ | Sign Up |
|
2. | Zerodha Coin | ⭐⭐⭐⭐ | Sign Up |
|
3. | ET Money | ⭐⭐⭐⭐ | Sign Up |
|
4. | Paytm Money | ⭐⭐⭐⭐ | |
|
5. | myCAMS | ⭐⭐⭐⭐ | |
|
6. | Ind Money | ⭐⭐⭐⭐⭐ | Sign Up |
|
7. | KFintech | ⭐⭐⭐⭐⭐ | Sign Up |
|
8. | Kuvera | ⭐⭐⭐⭐ |
1. Groww
Groww is a Bangalore-based company that allows you to invest directly in mutual funds and equities. It has aimed to make investing easy, transparent, and paperless to make your mutual fund investing stress-free. Due to its most straightforward user interface, Groww is one of the fastest-growing companies. It also offers informative, educational blogs and YouTube videos to assist you in selecting the best apps for mutual fund investment.
You can invest, manage, and track all your mutual funds on a single platform. Before investing, you can also check the fund performance and read the pros and cons of the fund in the Groww app. To begin the process, register with the best app for SIP and complete an account verification through KYC.
The top features of the Groww app are:
- There are no charges for opening an account.
- A dashboard to track all your mutual funds with the total returns, 1-day return, and XIRR.
- The app is safe to use because it is backed up by some top investors, such as Tiger Global, Ribbit Capital, Satya Nadella (CEO of Microsoft), etc.
2. Coin by Zerodha
300
300
Zeroⅈ
0.03%ⅈ
Zerodha is one of the leading fintech companies offering various services that fulfil your financial needs. The coin app by Zerodha is a platform for investing in direct mutual funds. If you already have a Zerodha account, using the Coin app to invest directly in mutual funds would be more convenient. It is the largest broker in terms of active users. This is the best mutual fund app for lumpsum in India.
The Coin app allows investors to invest in mutual fund schemes from roughly 40 fund houses without paying any commissions. You can choose over 41 Asset management companies (AMCs) to invest in.
The top features of the Coin app are:
- You can easily search and filter through over 3,000 commission-free direct mutual funds.
- They do not charge any account opening fee or other charges for mutual fund investing.
- Your mutual fund investments are in demat form; thus, it is simpler to pledge them as collateral for a loan against securities.
- The step-up SIP feature automatically increases your SIP amount by a predefined percentage.
- Start, stop, or pause your Systematic Investment Plans (SIPs) at any time.
3. ET Money
Free
Free
0.05%ⅈ
0.05%ⅈ
It is an award-winning platform that allows you to invest in financial instruments like mutual funds, Stocks, Fixed Deposits, and the National Pension System (NPS). It provides numerous tools and calculators, such as a SIP calculator, a lump sum calculator, a way to compare mutual funds, and annual mutual fund returns. This is one of the top 10 mutual fund apps.
ET Money app has impressive features, such as suggesting fund names based on your investment idea. Some ideas they offer are the monthly best SIP plans, the best low-risk mutual funds, investments like Warren Buffett, etc.
The top features of the ET Money app are:
- The online process to start mutual fund investing in direct funds is very easy.
- Clients can quickly obtain quick loans and insurance policies and keep track of all of their expenses.
- They provide exciting blogs and YouTube videos to make your investment journey smoother. They produce easy-to-understand videos that are very popular.
- They have a unique feature called ET Money Genius- A personalized intelligent investment service that develops and recommends an investment strategy tailored to your needs.
- ET Money Genius portfolios are tailored to your goals, risk tolerance, and time horizons.
4. Paytm Money
Free
Free
₹20ⅈ
0.05%ⅈ
It is a wholly owned subsidiary of Paytm, now becoming a favorite place for mutual fund investors. You can invest in mutual funds, stocks, and NPS through the Paytm money app. You can open your account with a 100% paperless procedure and online KYC verification in less than an hour. It is easy to keep track of your mutual fund portfolio with the software. The app also has short video explainers at crucial points, which is helpful if you get stuck anywhere.
Investments through this app are safe and secure, with 2-factor authentication, fully transparent tracking, a fingerprint and pin-protected app, and bank-level security.
The top features of the Paytm app are:
- You will get real-time status updates at the time of investment and withdrawal.
- You can invest your money in mutual funds from 5 bank accounts.
- There are no charges for account openings, investments, or transactions, and no hidden commissions.
- Account statements are provided for free.
5. myCAMS Mutual Fund App
Free
Free
0.05%ⅈ
0.05%ⅈ
myCAMS is a single portal for investing in multiple mutual fund schemes. They are the market leader in mutual fund payment processing, and you can also get same-day NAV processing. They hold a 69% market share of the total assets of the Indian mutual fund industry. Managing your SIPs is just a click away. You can start, renew, pause, and cancel your SIPs without much interruption.
With the 17 participating mutual funds, you can conduct online transactions, check the valuation of your investments, view various statements, and download service request forms with as little as one click.
The top features of myCAMS App:
- You will get to check the valuation of your portfolio in a pie-chart representation by asset class and fund-wise.
- It consists of a pin and pattern protection safety feature while logging in to your account.
- You have the option to view your recent 15 mutual fund transactions.
- The app allows users to download the following statements: the consolidated active statement, capital gain/loss statement, consolidated transaction statement, ELSS one-view statement, and many more.
- There is a chatbox called ‘CAMServ’ where you can clear all your mutual fund queries.
6. KfinKart
Free
Free
0.05%ⅈ
0.05%ⅈ
It allows you to invest in multiple mutual fund schemes with a single-touch login. It is run by the largest Registrars and Transfer Agents (RTA), KFintech. You can also link your family portfolios and view everything on a single platform. If your family portfolio is linked, you can also transact in it.
With the application, you can access the latest market news, keep track of your investments, and gain insights to improve your investment strategies.
Top features of KfinKart app are:
- You have an option to log in with Google ID or Facebook.
- More than 10 vernacular languages are supported in the app.
- A feature called Redemption Robo will help you redeem the best scheme after calculating the exit load and short-term and long-term capital gains.
- Another feature is eNACH, which allows quick payments and provides the auto-pay option for SIPs in less than 5 minutes.
- Adding the relative’s PAN card can link and transact in your family portfolio.
- There is also an option to receive updates about your investments on WhatsApp.
- One-touch log-in with an extra safety feature of pin, pattern, and fingerprint security.
7. INDmoney App
Free
Free
0.05%ⅈ
0.05%ⅈ
It is called a Super Finance App, which allows you to save, track, and invest all your investments in one place. It has more than 6Mn+ users. It offers investment options like mutual funds, FDs, US stocks, and IPOs. It is backed up by some top FIIs, comprising Tiger Global, Sixteenth Street Capital, Dragoneer, etc.
You can invest in more than 4000 direct mutual funds with zero commission charges. There are no transaction fees; you can buy and sell mutual funds for free.
The top features of the INDmoney app are:
- You can manage and track all your mutual funds in one place. Tracking of external funds is possible.
- No paperwork is needed, which means easy processing within minutes.
- You get daily notifications regarding the news & updates on your investments.
- You can set your financial goals in the app, and they will suggest the top-rated funds that meet your goals.
- The app calculates your net worth
- and shows you the shortfall and excess invested.
- Some top mutual fund options in the app are tax-saver funds, trending funds, gold funds, high-return funds, etc.
8. Kuvera App
Free
Free
0.05%ⅈ
0.05%ⅈ
Kuvera is a mutual fund app that suggests funds that meet your goals. It has a unique and easy-to-use user interface, and creating an account takes just a few minutes. They provide you with common goals, like buying your home, car, retirement plan, vacation, etc. It would help if you chose a goal, and they will ask you a few questions before recommending funds. They also suggest trending funds to help you accomplish your goals.
The top features of the Kuvera app are:
- You can manage your joint accounts in a family account.
- Track and consolidate your entire mutual fund portfolio with the highest level of privacy.
- The main feature of the app is goal-based investing.
- You can handle multiple accounts all in one place.
- Account opening is free, zero commissions, and no hidden fees exist.
The Bottom Line
The apps mentioned above can make your life easier and can assist you in mutual fund investing. Using these apps, you can start investing with just ₹500 or even less. Ensure that the app you choose does not charge you for any transactions (Buy, Sell, Switch, etc.) you perform. Also, look for app reviews and ratings on Google Play and the App Store. And finally, look for the parameters like convenience, safety & security, and reasonable pricing. Make sure to meticulously assess these parameters to identify the best mutual fund app in India that aligns perfectly with your investment aspirations.
FAQs About Best Mutual Fund App in India-
Q1: Why use mutual fund apps?
Ans: Mutual fund apps offer several benefits, including easy accessibility, real-time tracking of investments, hassle-free transactions, goal-based investment planning, and comprehensive information about various mutual fund schemes.
Q2: How do I choose the best mutual fund app in India?
Ans: When choosing a mutual fund app, consider the user interface, ease of use, range of available funds, security features, customer reviews, and the app’s track record.
Q3: Can I set up SIPs (Systematic Investment Plans) through mutual fund apps?
Ans: You can set up SIPs easily through mutual fund apps. Choose the fund, select the SIP option, specify the investment amount, and set the frequency (monthly, quarterly, etc.).
Q4: What are some popular mutual fund apps in India?
Ans: Some popular mutual fund apps in India include Groww, ET Money, Paytm Money, Coin by Zerodha, MyCAMS, and FundsIndia, among others.
Q5: Can I redeem or sell my mutual fund units through the app?
Ans: Yes, most mutual fund apps allow users to redeem or sell their mutual fund units. Navigate to the app’s dashboard, select the fund you want to sell, and follow the prompts for redemption.
Q6: How do I start investing in mutual funds using the app?
Ans: After downloading the app, create an account, complete the KYC process, and link your bank account. Browse through available mutual funds, select the desired one, and invest by specifying the investment amount and payment method.
Q7: Can I invest in mutual funds through the app without any previous investment knowledge?
Ans: Yes, most mutual fund apps are designed to be user-friendly, allowing even those with limited investment knowledge to invest. They often provide educational resources and information to help users make informed decisions.
Q8: Are these mutual fund apps safe to use?
Ans: Reputable mutual fund apps employ robust security measures to protect user data and transactions. Look for apps that have strong encryption, two-factor authentication, and other security features to ensure the safety of your investments and personal information.
by Instockbroker Team | July 10, 2024