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10 Best Apps for Mutual Fund Investments in India (2024) - Buyer’s Guide
Direct Mutual Funds are a savings plan that lets you save and grow your money for the future.
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Direct Mutual Funds are a savings plan that lets you save and grow your money for the future. In this scheme, you'll directly invest your money in stocks or bonds with the company that manages the fund without going through a middleman like a financial advisor or a broker. This means you don't have to pay extra fees to the middleman.
Direct Mutual Funds are a great option for young people or individuals who are just starting to save. It is easy to understand, and the best part is that you can start with a small amount of money.
Are you looking for a versatile and user-friendly platform that deals with both regular and direct mutual funds? With extensive mutual fund offerings and enhanced security, the PayTM Money Mutual Funds App ensures that all your transactions remain secure and transparent so that you can invest without any worries.
Processing Fee: INR 200 + GST to open, INR 100 + GST annually, and min INR 10 to 0.05% of the transaction value as a transaction charge.
Coverage: More than 2000 mutual fund options from 40 houses
Goal Planning
SIP calculator to help you figure out how much to invest regularly
Portfolio tracking so that you can also keep an eye on your investments in real-time
Pros
Intuitive interface
Direct plans for higher returns
Provides market insights
Cons
Investment mandates KYC verification and linking a bank account for validation.
One of the best, easy-to-use mutual fund portfolio management apps with diverse fund options and zero fees.
5paisa is one of the safest and best mutual fund apps catering to traders of all levels, with a wide range of features and a user-friendly interface. It lets you invest in mutual funds, stock market trading, IPOs, etc. While it offers comprehensive options for trading and investing, users may encounter a slight learning curve and occasional technical issues.
Processing Fee: Account opening free, max INR 20 brokerage per trade, and subscription plans: Basic, Power Investor and UltraTrader, price ranging between INR 199 to INR 599 for three months
Coverage: 9000+ schemes
Registered with SEBI, CDSL, BSE, NSE, and MCX
Access to IPOs and stock market trading
10M+ mutual fund app download
Pros
Cost-effective plans
Easy-to-use interface
0 commission for mutual fund investment
Cons
Research advisory service is not available
A reliable all-in-one platform for trading and investing in mutual funds or other financial components.
Kuvera is a high-end mutual fund app with a team of seasoned ex-money managers and tech experts, ensuring a data-driven approach for effortless financial management. The app mainly focuses on direct plans, saving users from paying commissions that typically go up to 1.5% in regular plans so that you can gain up to 35% in high returns over just 20 years.
Processing Fee: Nil, but transaction fees range from 0.12% (cash) to 0.05% (derivatives) of trade value.
Coverage: 5000+ mutual fund options
Registered with the Securities and Exchange Board of India (SEBI) as an Investment Advisor (INA200005166)
Easy to use and navigate
Send notifications after adding new features
Pros
50 different fund houses
Zero fee, higher returns
Dedicated customer support, available on chat, email and tweet
Cons
Limited customer support options
Fast and responsive platform with top-notch security and extensive mutual fund options.
Have you ever wished for an easier way to handle your investments? Consider the KFinKart Investor Mutual Funds app, an all-in-one mobile app for managing mutual fund portfolios. One of its key advantages is seamless online transactions.
Buying, selling, or switching mutual fund units is a breeze with this mutual fund portfolio management app. There is no need for paperwork or in-person visits to intermediaries. The app also sends timely alerts to ensure you never miss important investment opportunities or deadlines.
Processing Fee: Nil
Coverage: More than 2000 funding options
Comprehensive fund information and portfolio tracking features enable users to make informed decisions and timely adjustments as required.
User-friend interface and personalised recommendations enhance user experience, making it suitable for newcomers.
Provides in-depth fund analysis for informed investment decisions aligned with your financial goals.
Goal planning features help create and track customised investment plans.
Pros
Fast and responsive platform with top-notch security
No commission or brokerage fees
Support ELSS fund investments.
Cons
Lacks a dedicated customer support team
A beginner-friendly mutual fund research app with positive user ratings and features like personalised recommendations, portfolio tracker, fund analysis, transaction history, notification and alert.
ET Money is another popular mutual fund app that you can invest in regular and direct mutual funds. You can invest in direct mutual funds through SIP or lump sum based on your preferences and financial goals.
The best part is its' personalised recommendations for investment based on your financial goals. Intelligent features like SmartDeposit, SmartSwitch, and SmartSIP help you optimise your investments based on your specific financial goals and risk profiles.
Processing Fee: INR 499 for account opening, 0.10% of investment value for platform fee, and INR 10 transaction fee for every purchase or redemption of mutual funds.
Coverage: More than 2,000
Regular and direct mutual funds
Registered with SEBI, RBI, and AMFI
Hassle-free onboarding process with easy sign-up, one-time KYC verification
Allows smooth transition from regular investment plans to direct mutual funds
Pros
Offers personalised investment recommendations
Users can reduce their tax liability by investing in ELSS funds with a three-year lock-in period.
Provides personalised investment recommendations
Cons
Unlike Groww, it doesn't provide stock trading options at a low brokerage rate and detailed information about different mutual fund schemes.
A SEBI, RBI, or AMFI registered mutual fund SIP app to ensure regulatory compliance.
Fisdom offers various investment options, including 5000+ mutual fund schemes, stocks, ETFs and IPOs. Managing a diversified portfolio is as easy as placing orders with its user-friendly interface. The research and analysis tools provide company reports, analyst ratings, and financial data so that you can make informed investment decisions. At the same time, the knowledgeable customer support team is also available by email and phone to help you with any questions or problems.
Processing Fee: Zero fees for direct MFs, flat ₹20 for agent MFs
Coverage: 5000+ mutual fund schemes
Provides personalised investment advisory service with expected return rate per annum
Can invest from Rs 500 to Rs. 20,000 per month
Pros
Quick digital onboarding
Smart fund management
Comprehensive online guide resource to educate beginners
Cons
Lacks some advanced features, like in-depth market analysis or sophisticated trading tools
A reliable all-in-one platform to create a diversified portfolio at low cost, along with a user-friendly interface, easy-to-use portfolio management features, and comprehensive research and analysis tools.
Groww is a versatile investment platform offering opportunities to invest in various financial instruments like mutual funds, Indian stocks, IPOs, and F&O. With this app, you'll have the freedom to select between regular and direct mutual funds.
The cost-effective approach and user-friendly interface set Groww apart, ensuring a seamless experience for investors. It is one of the best Mutual fund research apps that provides detailed information on different schemes so that you can make informed decisions regarding investing your hard-earned money.
Processing Fee: Nil
Coverage: More than 5000, including stock trading
Offers competitive stock trading at a minimal brokerage rate with live market data and analysis.
Portfolio tracker and transaction history
Registered with SEBI, RBI, and AMFI
Pros
Easy onboarding process with paperless KYC verification
Allows effortless switching from regular to direct mutual funds
Commission-free investment in direct mutual funds via SIP or lump sum
Cons
You may experience technical glitches, like delayed updates, wrong data, or transaction failures.
A mutual fund app with diverse funding options, user-friendly features and top-notch security.
INDmoney offers a wide range of services, including stock trading and mutual fund investments, providing users with a one-stop solution for their financial needs. The user-friendly interface, in-depth analysis of mutual funds, and personalised financial guidance based on individual financial goals and risk tolerance help users make informed decisions.
Processing Fee: Nil
Coverage: More than 5,000 mutual funds from over 45 AMCs in India
It offers types of mutual funds such as equity, debt, index, large-cap, small-cap funds, and much more.
One of the best mutual fund SIP apps offers various SIP plans for 5 years.
Pros
Zero commission and transaction fee
Robust security protocols
Detailed fund analysis
Cons
Takes some time to get accustomed to a range of features and options
A convenient and affordable way to invest in stocks and mutual funds.
Are you thinking about investing in direct mutual funds? Zerodha Coin is a smart choice because it charges no extra commission fee. Now calculate how much you could save without those 1% to 1.5% commission fees. However, complicated apps can be a real headache, but not this one! You'll find it a breeze whether you're new to investing or a pro.
Processing Fee: No charges up to an investment of INR 25,000, then INR 50 monthly thereafter.
Coverage: More than 5,000, including options for stock trading
Focused on direct mutual funds for lower expenses, higher potential returns
Portfolio tracking and transaction history features
Coin by Zerodha, Top Robo-advisors for mutual funds in India
Pros
No expense ratio like regular mutual fund platforms or distributors
Diverse fund options for greater investment flexibility
Links seamlessly with Zerodha Kite or Coin By Zerodha for advanced trading capabilities and Robo-advisor service
Cons
Does not support SIPs and SWPs
A cost-effective, well-regarded mutual fund tracking app that deals with direct mutual funds.
The Upstox Mutual Fund App is a user-friendly platform that offers a variety of investment plans, including stocks, mutual funds, and ETFs. The number of advanced features, like a mutual fund screener, a risk calculator, and comprehensive information about mutual funds, help users make informed investment decisions, making it a good option for beginners.
The best part is that it doesn't charge any commission fee on investment in mutual funds, but you'll be charged a bit as an exit load if you sell your mutual fund units before a certain period of time.
Processing Fee: Nil
Coverage: Over 2,000 mutual funds from over 44 asset management companies
A mutual fund screener allows users to filter mutual funds based on their financial criteria.
Risk calculator that helps users to determine their risk tolerance
It sends users notifications about important events, upcoming dividends, and redemption dates.
Pros
User-friendly interface
Useful additional features further enhance user experience
Supports SIP investment
Cons
No personalised recommendation for investment
A fast and responsive mutual fund tracking app with top-notch security and positive user ratings.
Picking the right mutual fund app is crucial for smooth investing. Here's how to choose the best one:
User-Friendly Interface: Opt for an easy-to-navigate app for convenient investment management.
Regulatory Approval: Ensure it's approved by financial authorities, like SEBI in India, for security.
Diverse Fund Options: Look for apps offering various funds from different companies for more investment choices.
Cost Considerations: Understand fees and expenses to align with your budget.
Performance Updates: Get real-time updates on your investments to stay informed.
Research Tools: Look for analysis tools for making wise investment decisions.
SIP and Investment Flexibility: Check if it allows for flexible investing options.
Security Features: Confirm strong security measures to protect your financial data.
Customer Support: Ensure prompt support is available for any assistance you may need.
Smooth Transactions: Choose an app with an easy process for buying, selling, and switching funds.
Account Management: Ensure you can easily update personal details and link your bank account.
Goal-Oriented Options: Some apps help you save for specific goals like retirement or education.
User Reviews: Check ratings and reviews for user satisfaction and reliability.
Performance History: Research its track record for reliability and technical issues.
Educational Resources: Look for resources that help you understand mutual funds and investing.
Exit Strategy: Know how to withdraw or close your investments if needed.
Redemption Process: Understand how funds are withdrawn and when they'll reach your bank account.
Compatibility: Ensure the app works smoothly with your device for hassle-free investing.
Follow these steps:
Log In: Access your mutual fund account.
Find Withdrawal Option: Look for the fund redemption or withdrawal option.
Choose Fund: Select the fund you want to withdraw from.
Enter Amount: Specify the transfer amount.
Select Bank: Choose the linked bank account.
Review Details: Double-check withdrawal details.
Authenticate Transaction: Follow security prompts.
Submit Request: Confirm and submit.
Receive Confirmation: Expect processing details.
Wait for Processing: Allow a few business days.
Check Bank Account: Monitor for the funds.
Review Statement: Confirm the transferred amount.
For newcomers, Zerodha and Groww are India's safest and most reliable mutual fund investment apps. Exploring alternatives like Paytm, ET Money, Kuvera, 5paisa, myCAMs, and similar options is also worthwhile.
SIP is ideal for long-term goals, while lump sum investment is particularly advantageous for achieving immediate market gains.
ELSS (Equity Linked Savings Scheme) is a type of mutual fund that comes with tax benefits in India. Here, you'll invest in equities or company stocks for a three-year lock-in period. In return, you'll have the potential for tax benefits under Section 80C of the Income Tax Act and higher returns, though higher risk is also involved.
Follow these general steps to withdraw money from your mutual fund app:
Log In: Open the app and log in.
Select Fund: Find the mutual fund you want to withdraw from.
Initiate Redemption: Choose "redemption" or "withdrawal."
Specify Amount: Enter the withdrawal amount.
Confirm Details: Review the amount and destination bank account.
Authentication: Verify transactions with PIN, password, or biometrics.
Submit Request: Confirm and submit withdrawal.
Confirmation: You'll receive a confirmation message or email.
Wait for Processing: Processing time varies, usually a few business days.
Check Bank Account: Monitor for the deposited funds and review bank statements.
Yes! In most cases, you can withdraw your mutual funds without penalty. If it's an Open-End mutual fund, you can sell your shares at any time without incurring a penalty. Similarly, you can stop your SIP at any time without penalty. But you may face penalties or restrictions if you try to withdraw Fixed-Term or Closed-End Funds before their maturity date.
These are the 10 Best Apps for Mutual Fund Investments in India, which give you the power to manage your investments conveniently and confidently. Whether you're an experienced investor or just starting your financial journey, doing your own research before using mutual fund apps is always advisable. Consider goals, risk tolerance, potential fees, and the terms and conditions of each app before investing.
Our shortlisting criteria comprise various factors to pick and choose the best recommendations for you. We have a dedicated team of experts with technical knowledge and expertise best suited for this task.
Each team member has the shared core values of maintaining independence, transparency, and impartiality towards choosing products and services that are the best for our readers and consumers.
Broadly, the shortlisting criteria consist of two distinct stages, i.e., the Product selection process and the Testing process.
Under the product selection process, we undergo extensive market research, finding different products and services in a particular category. We check and evaluate the technical specifications, services offered, latest technologies & updates, user-friendliness, cost-to-benefit analysis, customer ratings, reviews, and satisfaction. We check the brand and market value, reputation, reliability, and customer support. Considering all these factors, we pick the best products for further testing.
After objectively picking the best products and services in their respective categories, we subject them to our comprehensive testing process. In cases where we couldn’t get our hands on the products, we do theoretical analysis and take extensive feedback from current users. During this stage, our team of experts checks the technologies' effectiveness and the products' performance. Simultaneously, we do a comparative analysis of various products tested, listing their pros and cons.
Finally, we pick the best products by combining objective and subjective testing and evaluation and recommend the best.
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