Best Mutual Fund App in India

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 without many complications.

So, 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?

Best Mutual Fund App in India

A mutual fund is a trust where money is pooled from different investors and invested in a portfolio of stocks, bonds, or any other investment vehicle. The fund is managed by a fund manager, who invests that money as per the investment objectives of the investors.

There are two ways to invest in mutual funds: Lumpsum and Systematic Investment Plans (SIP).

Lumpsum allows investing in mutual funds in one go. It means you can make a one-time investment. On the other hand, SIPs allow you to invest your money periodically, say monthly, quarterly, or half-yearly.

A SIP is a simple method that allows you to invest in mutual fund schemes regularly. You just need to pay a fixed amount every month and see the magic of compounding after a few years.  It is just like a recurring deposit where you can invest a small amount regularly.

Comparative Evaluation Using the Principal Elements

S.No. MF App /Broker Products Charges Active Client base AUM Mutual funds available Processing fees Key Feature Download links User Rating
1 Groww Mutual Funds, Sover Nil 70 lacs 195000cr 5000+ Rs200+18%GST Most no. of mutual funds are available for investment 4.7
2 Coin by Zerodha MF, SGB, BONDS, NPS Nil 65 lacs 300000cr 5000+ Rs200+18%GST Highest Assest under management 4.6
3 ET Money MF, NPS Nil 53 lacs 22500cr 3200+ Rs200+18%GST Personalized recommendations 4.4
4 Paytm Money MF Nil 45 lacs 25200cr 3900+ Rs200+18%GST Financial information about all mutual funds 4.3
5 My Cams MF Nil 41.5 lacs 251280cr 3400+ Rs200+18%GST Single consolidated statement for all mutual funds 4.1
6 Kfinkart MF Nil 15 lacs 22050cr 3200+ Rs200+18%GST Single view of all investments across all the AMCs 3.9
7 IND Money MF Nil 40 lacs 37319cr 5000+ Rs200+18%GST Lifetime free mutual fund account 3.7
8 Kuvera MF Nil 20 lacs 28000cr 3000+ Rs200+18%GST Portfolio management service and Risk profiling & planning 3.6

List of Top Mutual Fund Apps in India-

Here is the list of top mutual fund apps in India-

  1. Groww
  2. Coin by Zerodha
  3. ET Money
  4. Paytm Money
  5. myCAMS Mutual Fund App
  6. KfinKart
  7. INDmoney App
  8. Kuvera App

1. Groww

best Mutual Funds Apps in India

It is a Bangalore-based company that allows you to invest directly in mutual funds and equities. Groww has aimed to make investing easy, transparent, and everything paperless to make your mutual fund investing stress-free. They are one of the fastest-growing companies due to its simplest user interface. They also offer 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, just register yourself on 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 totally safe to use because it is backed up by some of the top investors like Tiger Global, Ribbit Capital, Satya Nadella (CEO, Microsoft), etc.

2. Coin by Zerodha

best Mutual Funds Apps in India

Zerodha is one of the leading fintech companies offering a variety of services that fulfill your financial needs. The coin app by Zerodha is a platform for making investments 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 get a choice of 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 and thus, it is simpler to pledge as collateral for a loan against securities.
  • The step-up SIP feature allows you to automatically increase your SIP amount by a predefined percentage.
  • Start, stop, or pause your Systematic Investment Plans (SIPs) at any time.

3. ET Money

best Mutual Funds Apps in India

It is an award-winning platform that allows you to invest in different financial instruments like mutual funds, Stocks, Fixed Deposits, and the National Pension System (NPS). They provide you with numerous tools & calculators like a SIP calculator, a lump sum calculator, compare mutual funds, annual mutual fund returns, etc. This is one of the top 10 mutual fund apps.

ET Money app has some amazing features, such as suggesting fund names based on your investment idea. Some of the 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 easily obtain quick loans and insurance policies. They can also keep track of all of their expenses.
  • They provide interesting blogs and YouTube videos to make your investment journey smoother. They produce easy-to-understand videos that are very popular.
  • They have a very unique feature called ET Money Genius- It is a personalized intelligent investment service that develops and recommends an investment strategy tailored to your specific needs.
  • ET Money Genius portfolios are tailored as per your goals, risk tolerance, and time horizons.

4. Paytm Money

best Mutual Funds Apps in India

It is a wholly owned subsidiary of Paytm which is now becoming a favourite 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 & secure with 2-factor authentication, fully transparent tracking, fingerprint & 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 have an option to invest your money in mutual funds from 5 bank accounts.
  • There are no charges on account opening, investments, or transactions, and also no hidden commissions.
  • Account statements are provided for free.

5. myCAMS Mutual Fund App

best Mutual Funds Apps in India

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 get same-day NAV processing as well. 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 will be able to conduct online transactions, check the valuation of your investments, view a variety of statements, and download service request forms in 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 safety feature of pin and pattern protection while logging in to your account.
  • You have the option to view your recent 15 mutual fund transactions.
  • The following statements can be downloaded in the app, 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

best Mutual Funds Apps in India

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), known as KFintech. You can also link your family portfolios and view everything on a single platform. There is also an option to transact in your family portfolio if it is linked.

With the application, you can access the latest market news and keep track of your investments easily. It also provides you with 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.
  • There is a feature called Redemption Robo which will help you to assist in redeeming the best scheme after calculating the exit load and short-term and long-term capital gains.
  • Another feature is eNACH, which allows you to make quick payments and provides you with the auto-pay option for SIPs in less than 5 minutes.
  • You can link and transact in your family portfolio by adding the PAN card of the relative.
  • There is an option to receive updates about your investments in WhatsApp as well.
  • One-touch log-in with an extra safety feature of pin, pattern, and fingerprint security.

7. INDmoney App

best Mutual Funds Apps in India

It is called a Super Finance App, which allows you to save, track, and invest all your investments in one place. They have more than 6Mn+ users. It offers different investment options like mutual funds, FDs, US stocks, and IPOs. They are 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 and 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 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 you the top-rated funds as per your goals.
  • The app calculates your total net worth
  • and shows you the amount of 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

best Mutual Funds Apps in India

It is a mutual fund app that suggests the funds as per your goals. Kuvera has a unique and easy-to-use user interface, and creating an account takes just a few minutes. They provide you with the option of some common goals, like buying your own home, buying a car, a retirement plan, vacation, etc. You simply need to choose 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, commissions are zero, and there are no hidden fees.

The Bottom Line

The above-mentioned apps 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 the reviews and ratings of the app in the Google Play store and Appstore. 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: What are mutual fund apps?

Ans: Mutual fund apps are mobile applications that allow users to invest, manage, and track their mutual fund investments conveniently on their smartphones. These apps provide a user-friendly interface to browse through various mutual fund schemes, invest, redeem, and monitor the performance of their investments.

Q2: 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.

Q3: How do I choose the best mutual fund app in India?

Ans: When choosing a mutual fund app, consider factors such as user interface, ease of use, range of available funds, security features, customer reviews, and the app’s track record. Look for apps that are user-friendly and offer a wide variety of investment options. Discuss with the best stock broker in India.

Q4: Can I set up SIPs (Systematic Investment Plans) through mutual fund apps?

Ans: Yes, 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.).

Q5: 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.

Q6: 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.

Q7: 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.

Q8: 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.

Q9: How do I download the best mutual fund app?

Ans: To download the best mutual fund app, visit the app store on your mobile device (Google Play Store for Android or App Store for iOS), search for the desired app, and click on the “Install” or “Download” button.

Q10: 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 your investments and personal information are safe.

by Instockbroker Team | March 29, 2024

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