Top 10 Best Mutual Fund Investment Apps in India: Mutual funds stand out as a top choice for investments in India, and the financial sector’s integration with technology has given rise to numerous mobile applications designed to assist investors in overseeing their mutual fund portfolios. This article aims to guide you in discovering the most efficient mutual fund app available in India.
Benefits of Mutual Funds in India
Mutual funds offer several benefits to investors, including:
- Diversification: Mutual funds pool money from many investors to purchase a variety of securities, such as stocks, bonds, and money market instruments. This diversification helps to reduce risk by spreading your investment across different asset classes and industries. If one asset class or industry experiences a downturn, the others may not be affected as much.
- Professional management: Mutual funds are managed by professional fund managers who have extensive experience and knowledge of the financial markets. These fund managers are responsible for researching and selecting individual securities for the fund, as well as monitoring the performance of the portfolio and making adjustments as needed.
- Affordability: Mutual funds allow you to invest in a variety of securities with a relatively small amount of money. This is because the cost of the securities is spread out among all of the investors in the fund.
- Convenience: Mutual funds are easy to buy and sell, and you can often invest with a small initial investment. You can also set up automatic investments, such as a monthly or quarterly contribution, which can help you to stay disciplined with your savings.
- Transparency: Mutual funds are required to provide investors with regular reports on their performance. This information can help you to track your investments and make informed decisions about your portfolio.
- Variety of investment objectives: Mutual funds are available with a variety of investment objectives, so you can find one that is right for your risk tolerance and financial goals. For example, equity mutual funds are designed to grow your capital over time, while debt mutual funds are designed to provide income.
- Liquidity: Mutual funds are relatively liquid, which means that you can easily sell your shares and access your money. However, it is important to note that some mutual funds have lock-up periods, which means that you cannot sell your shares for a certain period of time.
- Potential for tax benefits: Mutual funds may offer certain tax benefits, such as the ability to defer or avoid capital gains taxes. However, it is important to consult with a tax advisor to discuss the specific tax implications of investing in mutual funds.
Overall, mutual funds can be a good investment option for many investors. They offer diversification, professional management, affordability, convenience, transparency, a variety of investment objectives, liquidity, and potential tax benefits. However, it is important to do your research and understand the risks involved before investing in any mutual fund.
List of Top 10 Best Mutual Fund Investment Apps in India
Investing in a mutual fund is straightforward – commit your funds for long-term growth. Nevertheless, selecting the ideal option can be cumbersome. As investors become increasingly tech-savvy, the prevalence of online platforms has simplified the investment process for all. These mutual fund apps, registered with SEBI, streamline the task of monitoring your investments.
- Groww
- Coin by Zerodha
- SBI Mutual Fund
- Paytm Money
- Fisdom
- ET Money
- MO Mutual Fund
- FundsIndia
- HDFC Mutual Fund
- IND Money
1. Groww
The Groww app stands out as one of the rapidly advancing applications in the Indian mutual fund market, garnering attention for its sleek user interface. This user-friendly app facilitates hassle-free mutual fund investments without the need for paperwork or complexities.
It offers real-time updates on your mutual fund balance, stock market trends, scheme news, and other pertinent information to empower informed decision-making. The app provides a unified dashboard for monitoring all your investments, annual returns, and more.
In terms of security, the app employs 128-bit SSL encryption to ensure the safety of your financial data. Keep reading to discover more about the premier mutual fund app.
Key Features of Groww:
- Utilize the Groww App as a budget planner and personal financial tool.
- Choose from a vast selection of over 5000 fee-free mutual fund plans to optimize your investments.
- Connect with like-minded individuals who share your financial and investment interests.
- Receive personalized suggestions based on your risk level and age.
- Utilize the ‘Smart saving’ option for instant cash withdrawals, potentially increasing your returns.
- Stay informed by subscribing to NFOs for updates and access to new schemes from different fund companies.
2. Coin By Zerodha
Zerodha stands out as a well-established financial platform and the most user-friendly software for mutual fund investments. Additionally, the Zerodha mutual fund app includes the Coin application, seamlessly integrated for existing Zerodha account holders.
Simply input your login details on the app, and you’re good to go. The Coin app simplifies asset record-keeping with its clutter-free UI, presenting all details at a glance.
You have the flexibility to initiate your SIP at any time, and adjustments to the SIP can be easily made as needed. Explore various financial schemes, ELSS funds, and tax filing procedures effortlessly. Widely regarded as the best mutual fund app, Zerodha ensures a streamlined investment experience.
Key Features Of Coin By Zerodha:
- Coin, an application, receives customer orders and directs them to BSE StarMF for execution.
- As a trader, the app equips you with a user-friendly platform for easy investing and management.
- Easily adjust, suspend, or continue SIPs at your convenience through the app.
- Zerodha mutual fund app offers various fund types, including equity, debt, hybrid, index, and solution-oriented funds.
- All investments through the app are direct mutual fund plans, devoid of commissions or extra costs.
- Opting for direct mutual funds can result in savings of up to 1% in fees.
3. SBI Mutual Fund
Designed by SBI Mutual Funds, this straightforward yet powerful mutual fund application stands out for its superior quality as an in-house product. Equipped with a variety of tools, the app aims to simplify mutual fund investments significantly.
With the capability for instant mutual fund investments, the app requires your PAN card data for a seamless start. Gain a comprehensive overview of your existing mutual fund investments through the app. Continue reading to discover more about the top mutual fund app.
Key Features Of SBI Mutual Fund:
- SBI MF serves as a user-friendly tool for conducting all financial activities online.
- The Family Solution feature aids in achieving financial goals by recommending suitable investment strategies and conducting a risk appetite assessment before investing.
- Establish and manage a watch list of up to three funds to evaluate and monitor before making investment decisions.
- Explore numerous funds, set financial objectives, invest, switch between schemes, redeem, and track performance to earn money through mutual funds.
4. Paytm Money
The Paytm Money app, a creation of the Paytm group, stands out as the premier choice for mutual fund management, wealth management, and all-in-one investing. Gaining rapid trust, it has become one of the most reliable platforms in India.
By opting for direct mutual fund plans with no commissions or fees on transactions, the app provides the potential for up to 1% higher returns. It guides you in making informed investments across a diverse range of over 500 mutual fund plans from more than 150 fund companies.
Key Features of Paytm Money:
- To allure new investors, the app offers IPOs, Equities, Mutual Funds, Futures & Options, and various investments at a minimal brokerage fee.
- Enhancing investment management, the app provides insights into portfolio statements and facilitates performance tracking.
- Establish a SIP with as little as Rs. 100 and invest in over 45 AMCs through a fully digital KYC procedure.
- Transfer money between Mutual Funds within 24 hours for swift portfolio management.
- Paytm’s well-regarded mutual fund portfolios encompass equities, debt, ELSS tax saver, balanced, and top-performing mutual funds.
5. Fisdom
The Fisdom app stands out as an outstanding tool for mutual fund investing in India, catering especially to novice investors in this domain. The app is designed to simplify the investment process to the maximum extent.
Users can take advantage of value-added services like the ‘risk profiler’ and ‘financial health check’ to ensure accurate selection of mutual funds.
In addition to mutual funds, the Fisdom app enables investors to explore the stock market through a competitive brokerage framework without any registration fees.
Key Features of Fisdom:
- Online investing becomes a hassle-free, paperless solution, allowing you to become an investor within minutes.
- Fisdom offers a variety of schemes and features, including High growth funds, Tax saving funds, Park my savings, hybrid funds, and other equity funds.
- With over 5000 mutual fund strategies available, the app provides a wide range of options for mutual fund investment.
- The investment suggestions from this top mutual fund app in India prioritize your best interests, guiding you to make well-researched and prudent decisions.
- Fisdom boasts noteworthy partnerships with IDBI, Nippon, SBI, HDFC, MIRAE Asset, Franklin Templeton, and other reputable entities.
6. ETMoney
Founded by a group of enthusiastic entrepreneurs, IITians, and developers with extensive expertise in technology, mobile, and financial services, ETMoney is the go-to app for all financial needs. As a leading brand affiliated with Economic Times, it serves as an outstanding platform for investing in mutual funds and various other investment types.
With a well-constructed design and an exceptionally user-friendly interface, this app enables easy investing without any complications.
Key Features Of ETMoney:
- The app offers a range of decision-making and research tools for informed financial decisions.
- Quick and secure integration with various UPI systems.
- ET Money enables wise investments in mutual funds, NPSs, insurance, and fixed deposits.
- Users receive investment health assessments, along with suggestions for increasing returns and reducing risks.
- The premium service, ET Money Money Genius, provides unlimited investment management over MF and stocks, monthly portfolio suggestions, and additional savings.
7. MO Mutual Fund
Motilal Oswal Mutual Fund (MO Mutual Fund) is one of the leading mutual fund houses in India, with a track record of over three decades. It offers a wide range of mutual fund schemes across equity, debt, and hybrid categories.
Motilal Oswal Mutual Fund, managed by Motilal Oswal Asset Management Company, a subsidiary of Motilal Oswal Financial Services Limited, a publicly listed company on BSE and NSE, was registered with SEBI in 2009.
Read More About MO Mutual Fund: Refer this article – Motilal Oswal Mutual Fund 2024
8. FundsIndia
FundsIndia stands out as a mutual fund investment application, simplifying the investment process. Its basic, well-designed, and user-friendly interface appeals to a wide range of users.
With a straightforward setup process, the app enables immediate online investing. Upon launching the app, you are greeted by the “My Portfolio” screen, offering a comprehensive view of your entire portfolio for easy asset tracking.
Key Features Of FundsIndia:
- With a 13-year track record and over 24 lakh consumers, Funds India ensures safe and rewarding investing and wealth management.
- The app’s mutual fund calculator provides insights into the investment amount, SIP period, and predicted returns.
- Invest in mutual funds through flat contributions or opt for a systematic investment plan (SIP) using Funds India.
- Explore attractive programs, including ICICI Pru Nifty Next 50 Index Fund, Axis Focused 25 Fund, Motilal Oswal Nasdaq 100 FOF, and more.
9. HDFC Mutual Fund
HDFC MF serves as the primary mobile app for clients of HDFC Mutual Fund, offering a swift, convenient, and efficient platform for investing in various mutual fund categories, including equities, debt, ELSS, hybrid, gold, and more.
Simplifying the management of mutual fund investments, SIPs, and other investment schemes, this app aids users in achieving their financial goals faster. Similar to other investment recommendation apps, it ensures active tracking of all user investments, providing continuous communication and guidance to reinvest if necessary.
Also Read: HDFC Securities Brokerage Plans 2024: Choose Wisely, Invest Confidently
Key Features Of HDFC Mutual Fund:
- Easily invest in mutual funds through the software, whether as a one-time purchase or through a systematic investment plan (SIP).
- Utilize the software for assistance with asset allocation and portfolio diversification.
- Invest in HDFC Mutual Fund New Fund Offers (NFOs) conveniently through the app.
- The app’s intuitive navigation streamlines processes such as purchase, SIP transactions, or changeovers.
- Explore various plan options to effectively diversify your wealth.
10. INDMoney
INDmoney stands as an online investing and trading app, offering a multitude of features and services. As the top app for mutual funds, it simplifies identification and investment processes.
Developed by a team of specialists committed to delivering the best user experience, the app undergoes regular updates, incorporating the latest security features to ensure the continual safety of user data.
Features of INDMoney:
- Explore well-known funds such as ICICI, SBI, Aditya Birla Sunlife, Kotak, and HDFC within the INDmoney app.
- Participate in direct mutual funds at no cost, with 0% commission, no transaction fees, and minimal documentation.
- Discover top equity funds, including Flexi-cap, large-cap, mid-cap, and targeted funds.
- Tailor your investments based on risk tolerance, choosing from trendy funds, gold funds, the finest SIP funds, or tax savers.
- Access a variety of schemes, including top debt, hybrid, and index funds, offering a diverse range of options.
