When it comes to investing, mutual funds find a spot among the top investment options. Investing in mutual funds is one of the best ways to earn long terms gains. They are a great way to diversify your portfolio, giving you the possibility of making higher returns with a low to moderate risk.
Nowadays, mobile applications such as Zerodha Coin, ETMoney and many others have made investing super easy. These apps offer endless benefits from zero commission investments, small SIPs, tax benefit schemes to easy-payment options, and smooth UI. The best part? – your funds are handled by professionals having in-depth knowledge of the industry. Read this article to know the best mutual funds apps in India right now.
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Investing in mutual funds is a big step towards building an effective portfolio. If you are a beginner, make sure you learn the basics of investment before starting this journey. Nowadays, there are plenty of apps available online for investing in mutual funds. Read this buying guide to find out the right investment app for you.
Simply speaking, User Interface (UI) is the way you interact with an app. How often do you find yourself quitting an app because it was difficult to understand? Well, everybody detests a cluttered screen. We all prefer to use apps that are easy to use and understand.
A clean user interface is a treat to the eyes. It allows you to navigate smoothly through the app, making your buying experience easy and delightful. For example, Groww App has grown at a rapid rate because of its impressive UI! It has the right visual appeal, which makes it highly attractive.
The design is clean and simple with easy filter options, apt font type & size, correct placement of tabs, limited colour range, etc. All these elements make it highly user-friendly, enriching the customer's experience of using the app.
A simple, seamless registration is one of the most attractive elements in any mobile application. Unlike the earlier times, nobody wants to spend hours on registration. Go for an app that offers smooth registration with an easy KYC process to save your time and energy.
Examples of such apps include ETMoney, MyCams, and Paytm Money. These apps require minimal documentation with no paperwork or any such hassle. So, you can register within 5 minutes.
If you are a student or a young intern wanting to invest, chances are that you may not have a substantial amount to start your SIP. In that case, you should choose an app where you can start with an initial investment amount of merely Rs 100 or 500. Groww is one such app that gives you the option of investing with just Rs 100.
Many mutual fund investment apps come with additional investment options. For instance: the Kuvera app consists of various other assets, such as - Direct Mutual Funds, Gold, Stocks, and Employee Provident fund. If you also want to explore other investment options apart from MF, choose an app accordingly.
For eg., if you are also interested in stock trading and have good market knowledge, then you can go for an app that also has the facility for trading in stocks. Some apps provide you with the option of linking your family's account. You may want to manage all your family members' portfolios on a single platform for better money management and time efficiency.
Some apps, including KfinKart and Kuvera, allow you to link your family folios with their app. All you have to do is insert their PAN card details. With that, you can handle all the accounts in one place.
Nowadays, many apps offer free learning and education services to their customers to guide them in making the right investment decisions. These have been specially introduced with the aim to impart knowledge about investment to beginners, especially students and young working professionals.
For example, Apps like ETMoney and Groww App suggest learning videos and blogs for all types of investors. We would recommend you to read the Groww App's beginners' guide on mutual funds if you are new to the investing field. It contains an introduction on mutual funds - types of MFs and how they benefit you, how to build a portfolio, and much more.
This one goes without saying – Check out the ratings and reviews given to the apps. Those are crucial to know the credibility of an app. Credibility is important because you would not want to risk your money with a company you are unsure of.
Consider going for popular apps that have about a million downloads. ETMoney and Paytm Money are two of the most widely-used apps with exceptional ratings. While you are exploring the apps on your device, make sure you read the About this app section, where you will find all the information related to it.
It will be useful in deciding the right mutual fund app for you. Also, go through some positive as well as critical reviews given by the customers. Many a time, it is the reviews section where you find information that is not shown on Google or the company's website.
Click to purchase
Nextbillion Technology Private Limited
Start a SIP With Just ₹100
Times Internet Limited
Save Tax up to ₹ 78,000 With This App
Computer Age Management Services Private Limited
Mark Your Favourite Mutual Funds Transactions
Zerodha Broking Limited
Coin by Zerodha
If You Want to Drive Maximum Benefits
Kfin Technologies Private Limited
For the Smoothest Investing Experience
Paytm - One97 Communications Ltd.
Try This if You Have Investments across Multiple Platforms
Arevuk Advisory Private Limited
Kuvera Personal Finance
Got an Emergency? Try This App!
CR Fintech Pvt Ltd
One that Offers the Best Chat Support
SBI Funds Management Private Limited
SBI Mutual Fund
Calculate the Return on Your Investments With SIP Calculator
Piggy Mutual Funds App
Making Investment Super Easy
Groww is one of the fastest-growing apps in India for mutual funds investment with 10M+ downloads. Credit goes to its clean user interface that makes it effortless to use. The app has easy registration with a simple KYC process. Reviewers liked that it has zero account opening charges and also no annual maintenance charges.
It allows you to invest in direct mutual funds with zero brokerage – giving you an additional saving of 1.5+% compared to regular plans. You can buy or redeem multiple mutual funds and create a new SIP for as low as ₹ 100. So, even a student can invest. Furthermore, a dashboard is provided that tracks all your past investments.
Groww app consists of a huge database of learning blogs and videos dedicated to mutual funds. Besides, you can invest in BSE and NSE stocks as it also works as a stock trading platform.
Founded by a group of passionate IITians and designers, ETMoney is a subsidiary of Times Network. It is a one-stop destination where you can manage your expenses, invest in mutual funds, and save tax up to ₹ 78,000 with ELSS mutual funds.
Most of the users liked its smooth UI and ease of navigation. You can invest free of cost either through SIP or in Lumpsum. The app has easy integration with several UPI-payment apps like Google Pay, PhonePe, Paytm, etc.
You can also take benefit of the personal-finance strategies offered by the app, which guide you on how to better manage your money. Additionally, it provides a host of other financial services, such as – insurance policies, instant loans, gold deposit schemes, etc.
MyCams is one of the oldest investment apps in India that received the Best Financial App award in 2015 and 2016. Its registration process is quite simple. You can open your account using the Aadhar Card and complete your KYC easily.
Some of the unique features offered by the app include PIN/Pattern login and myFavourites section where you can save your favourite transactions and view the most preferred ones. Another feature called myWatchList helps you monitor your investments and track their performance.
Many reviewers have said that it is an excellent app if one is investing in multiple funds and wants a consolidated view of them all. Besides, customers can also purchase instant loans and insurance policies, track expenses, etc.
Coin by Zerodha is another highly ranked mutual fund investment app in India. You can invest in 3,000 zero-brokerage direct mutual funds offered by 34 fund houses. Zerodha coin has built a large customer base having 2.5+ lakh investors, who have invested over ₹4,500 crores.
The app offers you flexibility, as you can create, stop, and modify your SIPs whenever you want. For example, you can increase the amount of your SIP as your income goes up. According to customer reviews, all MFs have clear descriptions and are very easy to select. These mutual funds are held in Demat form, which makes them easy to pledge as collateral for loans against securities.
The app also helps you make instant purchases through UPI payments. Though one thing that reviewers say it lacks is clear filters for paused/active SIPs, which sometimes confuses the user.
KfinKart is a one-touch login app that offers you a single view of all your investments. If you struggle with making investment-related decisions, you can take the help of technical and fundamental reports provided by it.
These reports give you a clear and simplified explanation of different investment schemes, their pros and cons, etc. The app comes with intuitive screens that help you navigate smoothly without making you confused, lost, or irritated while using it.
According to the customers, KfrinKart is user-friendly but has one downside - it does not have information on all the MFs. Although, one great thing is that it allows you to link your family portfolio by providing their PAN card details.
This one is another popular app offering commission-free investment in mutual funds. It provides many benefits like – fully transparent tracking, switching from regular to direct plans, data privacy, managing SIP investments, etc. For easy navigation at night, it comes with a dark mode feature.
With Paytm Money, you can invest in multiple options like stock, gold, and NPS - which lets you get regular pension income on your retirement. Besides, if you have investments across multiple platforms, you can use its one-tap switch that retrieves all your previous investments information. However, one problem that customers have often faced is the lack of efficient customer support.
Next on the list of best mutual funds investment apps is Kuvera, which allows you to invest through SIP or in lumpsum for as low as ₹500. It is a multiple investment application that contains various assets under a single roof. Although, its UI is quite dull compared to other apps, going by the customer reviews.
You can be your family’s wealth manager by linking their portfolios. You can also get instant & affordable loans against your mutual fund holdings, loans starting from ₹50,000 up to ₹10cr. The SaveSmart feature helps you plan for emergencies by allowing withdrawals up to ₹2.00 lakhs within 30 minutes.
CashRich claims to be the first Indian mutual fund app to offer dynamic SIP investment for earning higher returns than regular SIPs. You get a lifetime free investment account and an instant money-withdrawal facility. For account security purposes, it has a facial recognition feature called Yoti. You can set it up by going to app settings.
What makes CashRich different from other investment apps is the quality of recommendations and the level of personalization. You can shift from one mutual fund scheme to another within the same fund house through the Switch feature.
The app also provides 24 hours chat support, where users can convey their issues and get them resolved instantly. Most reviewers loved this element the most. They also said that the personal guidance offered by it is exceptional. Moreover, the app is available in the Hindi language too.
SBI Mutual Fund is another top investment app that is quick, efficient and convenient to use. With InvesTap, you can have a holistic view of your investments, manage your profile, and invest instantly. It offers quick & easy access, multiple investment options, and daily NAV updates.
The app also has a SIP calculator that helps you calculate the returns on your SIP investments easily. For example, let's say you wish to invest Rs 1500 in SIP every month for 3 years.
So, this calculator will help you find out the expected return generated under various MF schemes (which can be anywhere between Rs. 65,000 - Rs.1,00,000 depending on the return rate and risk involved).
Lastly, at number ten, we have the Piggy App, where again investing is all commission-free. You can save tax up to Rs 46,800 under section 80c of the Income Tax Act by investing in tax saving mutual funds (ELSS).
The app claims to use the latest security measures to encrypt data, thus ensuring that all your money is safe & secure. The investment advisors at piggy conduct detailed analysis of your portfolio, identify under-performing mutual funds and offer quick suggestions.
It is the only investment app in India offering 5 different modes of payment. You can choose from UPI, Debit Card, NEFT, Net Banking, or Bank Mandate. Though one criticism that it has frequently received is the inability to solve clients queries on time.
That depends on various factors – your age, income & expenses, risk appetite, etc. If you are a young individual, say 21-26, you may have fewer financial obligations and a higher appetite for risk. Then, you can invest a greater portion of your monthly salary in mutual funds. Conversely, older individuals generally invest a small percentage of their income.
Ideally, you should follow a 50:30:20 rule. That means – allocating 50% of your salary to your everyday needs, 30% to leisure activities, and finally, 20% to investment needs. Now, this 20% should be a mix of different investments. Mutual Funds are considered safer than stock trading but riskier than FD and Savings. Decide the final amount as per your market knowledge and risk-taking ability.
Example: Let’s say you are a 24-year-old person drawing a monthly salary of ₹ 25,000. Assuming that you do not have any loans or outstanding debt at this stage, your total expenses come to ₹ 15,000. So, out of the remaining ₹ 10,000, you can invest about ₹ 6,000 in mutual funds.
Did you say health, wealth, and communication? We've got you covered! We have prepared a list of top apps in the field with thorough research. You just need to read the article to save some time for yourself. Thank us later!
Investing in mutual funds can be a turning point in your life. Experts always advise you to start investing at an early age, but even if you are a tad bit older – better to start late than never! It will reap long term benefits and make you financially strong. So if you have started earning, start investing too!
Author: Deeksha Mangla
No. 1: Nextbillion Technology Private Limited | Groww
No. 2: Times Internet Limited | ETMoney
No. 3: Computer Age Management Services Private Limited | myCAMS
No. 4: Zerodha Broking Limited | Coin by Zerodha
No. 5: Kfin Technologies Private Limited | KFinKart
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