Best Mutual Fund Apps for Investment in India

The mutual fund boom is growing exponentially and changing the investment market in India. In such a situation, it is pretty common for individuals to be confused as to which are the best apps for mutual fund investment in India. This blog post is all about that topic and more!

Check out this video by Entri in Malayalam!

Introduction

Indians have started embracing mutual funds as their golden way to grow their wealth. With the rise of technology over the years, mutual fund investing has become more accessible for the common. There was a time when, if you had to invest, you would have to seek help from the bank or from the traditional broker. The major revolution, especially in contemporary times, was the advent, or the introduction, of mobile apps.

A user-friendly, convenient, and transparent way to invest took birth through the mobile app. The story is no different in India as well. Mutual fund apps have been increasingly welcomed due to their simplicity, ability to track investments in real-time, and low-cost options. These apps allow beginners and experienced investors to access a wide range of funds, explore various strategies, and gain insights on how to plan their finances in a better way. This article will delve into the best mutual fund apps available in India, their features, benefits, and how to choose the best one suited to your needs.

Also read: Entri Finacademy Launches Mutual Funds Course

Top Mutual Fund Investment Apps in India

Groww

Groww is one of the most popular mutual fund investment apps in India. It allows users to invest in direct mutual funds without any commission charges. The app has a simple and clean interface that makes it ideal for beginners.

Key Features:

• Direct mutual fund investments
• Zero commission fees
• Portfolio tracking and insights
• User-friendly interface
• SIP (Systematic Investment Plan) option available
• Mobile and web platforms

ET MONEY

ET MONEY offers a wide range of mutual funds to choose from, including equity, debt, and hybrid funds. It also features a detailed portfolio tracker and offers personalized recommendations based on your financial goals.

Key Features:

• Goal-based investment
• Tax-saving mutual funds
• SIP and lump sum investments
• Comprehensive expense tracker
• Intelligent portfolio suggestions

Coin by Zerodha

Coin, backed by one of India’s leading stockbroking platforms, Zerodha, offers a simple, low-cost mutual fund investment platform. It allows direct mutual fund investments with zero commission charges.

Key Features:

• Direct mutual funds with no commission
• Advanced tools and analytics
• Easy-to-use interface
• SIP and lump sum investments
• Strong research resources

Upstox

Upstox is another platform known for providing zero-brokerage, direct mutual fund investments. It offers both equity and debt mutual funds, making it a versatile choice for investors.

Key Features:

• Direct mutual funds
• Easy portfolio tracking
• SIP option
• Low-cost investments
• Free access to research reports

Paytm Money

Paytm Money, an extension of the Paytm ecosystem, is known for its user-friendly interface and quick onboarding process. It allows investors to explore different mutual fund categories and provides insights into fund performance.

Key Features:

• Direct mutual fund investments
• SIP, lump sum, and tax-saving options
• Fund recommendations based on risk profiles
• Portfolio tracker and goal setting
• Integration with Paytm wallet

Fundsupermart

Fundsupermart is another comprehensive mutual fund app that offers a range of tools to manage investments. The platform provides direct mutual funds and personalized investment suggestions.

Key Features:

• Direct investment options
• Fund comparison tools
• Detailed performance analysis
• SIP management
• Portfolio management tools

Also read: What is a Mutual Fund and How Does it Work? (Complete Guide)

Why Use an App for Mutual Fund Investments?

We were sure that you might be getting this thought. The question or doubt is truly valid, and that’s why we have decided to address it in this blog. Here is a list of the reasons as to why we need an app for mutual fund investments:

• Convenience and Accessibility

The mobile and the internet has made everything accessible anywhere and at any time. Everything is at the tip of your finger, quite literally. When it comes to mobile apps for any investments, you get to access it anywhere at anytime you want. Imagine you having to go to the bank or visit a professional broker each time you want to check on your investment. That sure does sound back-breaking!

• Low-cost investment

Many apps offer direct access to mutual fund investment. This means that there won’t be any sort of middlemen whom you would have to pay or any commissions as such. This is a driving factor, as such expenses can reduce your overall profit.

• User-friendly interface

These days all apps dedicate their development to the interface that the user sees. This is what we see mostly on social media these days. When it comes to investment apps, the complexity is increased as you need to showcase market data in a clean and simple-to-understand format. This is why mobile apps have a user interface that can be handled by beginners and experienced investors.

• Tracking and portfolio management

You can easily track the performance of your investment through the app. Additionally, you get to manage and make necessary edits in your portfolio according to the market trends or financial goals.

• Automatic SIP setup

Mobile apps allow you to set up an automatic Systematic Investment Plan (SIP) easily, which invests a certain amount regularly. This helps in a disciplined and consistent investment, which is beneficial in the long run.

• Personalisation

You get to customise and personalise your investments and portfolio according to your financial goals or strategies. Moreover, many apps provide suggestions given by artificial intelligence in the shape of advice.

Also read: Mutual funds vs Fixed Deposits: Which is better?

Key Features to Look for in a Mutual Fund App

• The app should allow you to invest in direct mutual funds, which means there will be no commission fees or middlemen.
• Simple, clean, and intuitive user interface, especially for first-time investors.
• Should offer a wide range of mutual funds, including equity, debt, hybrid, and index funds.
• There should be a filter to choose the desired fund based on preferences.
• Real-time tracking as well as notifications about the performance is a must, as this would help in making decisions.
• A mix of SIP and lump sum investment should be offered.
• Some apps also provide tax-saving mechanisms like the ELSS (Equity Linked Saving Schemes).
• Security features like 2-factor authentication are a must, due to the sensitive financial data.
• Transparency in terms of fees, commissions, and performance is a must.

These features can be saved as a checklist while choosing the best mutual fund app in India, according to your preferences.

Also read: How to Choose the Right Mutual Funds to Invest for Beginners

How to Choose the Best App for Your Needs?

Now that you have an idea about what the best mutual fund apps are in India and what the key features are to look out for, let us delve into how you should choose the best app based on your needs.

Assess you Investment Goals

Determine what you want this investment for; is it for retirement, education, purchasing a home, etc.? This is because different apps cater to different needs as well.

Check the app’s cost structure

Different apps provide direct mutual funds as well as different fee charges. You need to weigh and compare each of them and choose the one that is the most beneficial to you.

Reviews and ratings

Check for reviews and ratings in the app store so that you can identify the potential shortcomings in the app.

Available Options

Examine the available fund options of each app and determine if they align with your risk tolerance and timeframe.

The interface

Before investing, download the app and explore its features to make sure that it is easy to use and that you can easily familiarise yorself with navigating the app.

Personalisation

An app that has the personalisation feature as well as can provide personalisations based on your preferences should be preferred.

Security and support

Ensure that the app has a strong security feature and also responsive support features.

Also read: Basic Mutual Fund Terms

Mutual Fund App: Conclusion

The digitalisation era has creept into the financial sector, and these mobile apps are a consequence of it. However, due to this consequence, mutual funds have become an essential part of the growing wealth in the Indian household. The seamlessness and convenience that they provide have definitely made an impact on the mutual fund investment. By considering all the features listed above, you can confidently choose the right app.

Whether you are a beginner or an experienced investor, there are apps that fit your needs and description. The key is to explore them and compare their features and reach a suitable one. It is safe to say that mobile apps are an excellent step towards building wealth in India.

If you feel like getting a deeper understanding of the mutual funds phenomenon, we suggest you check out Entri Finacademy’s mutual funds course. With industry experts and top-quality materials, you are bound to master the mutual fund investment. You can also check out other investment courses provided by Entri Finacademy, like the forex trading course and the stock market course. Enrol now and start your journey towards financial freedom!