Mutual fund investment is the most popular option for capital appreciation that can beat inflation. There are multiple mutual funds apps that have made the investment in mutual funds simple and convenient. However, one must be aware of all the charges and facilities while using any app before using it. If you are looking for the best mutual funds app, we have got you covered.
Investing in direct mutual funds has become a piece of cake with the best app for mutual funds. Let’s explore the different features, perks, and charges of the best mutual funds apps in India.
Table of Contents
What are Direct Mutual Funds?
Mutual Funds can be broadly categorized into Direct and Regular Schemes. Direct mutual funds refer to the funds that do not involve any third party agent, say distributor or broker. Investors can directly invest in Asset Management Companies (AMCs) through direct funds. On the other hand, regular funds investment involves a third party who handles the mutual fund for the investors.
Direct funds eliminate the involvement of any third party and thus cut down commission and brokerage charges. As a result, the expense ratio of direct funds is lower compared to regular funds thereby providing greater returns. If you are using any of the app for mutual fund, you can easily identify direct funds as the word ‘DIRECT’ is prefixed before any fund name.
Now that you are aware of the difference between direct and regular funds, let’s dive into the discussion of the best mutual funds apps in India.
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8 Best Mutual Funds Apps in India
As mutual fund investment has become more popular in the last few years, there are multiple online platforms for the same purpose. Mutual funds app enables investors to invest in different types of funds. After thorough research on ease of usage and features, here are the 8 best mutual funds app in India.
1. Groww
2. ETMoney
3. myCAMS
4. KFinKart
5. Zerodha Coin
6. Paytm Money
7. CashRich
8. Kuvera
Let us discuss each of these apps in detail:
1. Groww
When talking about the best app for mutual funds, Groww stands out as one of the most reliable mutual funds apps. The simplicity and transparency of this app are what attributes Groww as the best mutual funds app India. You can start investing in mutual fund with Groww by just completing paperless KYC.
There are no account opening charges and brokerage/commission for buying or selling funds on Groww. Additionally, it provides numerous blogs, videos, and insights on funds making it a better learning platform for new investors. Moreover, this app serves as the best mutual funds app for Android with its easy-to-use user interface for quick and simple navigation.
2. ETMoney
Launched by the Times Group, ETMoney is one of the best app for investment in mutual fund that has captured the attention of new investors. Packed with deep insights and fundamentals to advanced concepts of funds investment, this app helps investors develop strategies to fulfill their financial goals through mutual fund investments.
ETMoney stands out as the best app for mutual funds investment owing to its assistance to save tax. Moreover, it provides buy and sell of funds at zero brokerage that surely enhances the returns in the long run. Additionally, it offers expense managers that help investors track and monitor all the expenses.
3. myCAMS
The organized user interface is what makes myCAMS the best mutual fund investment app. It provides an overall view of mutual fund portfolios making it easier to manage all mutual fund investments.
myCAMS provides fast and secure scheduled transactions and quick redemptions. Investors can use PIN or pattern locks to keep their accounts secure. It also has myCAMServ chatbot to provide assistance for any query.
4. KFinKart
KFinKart was designed to make mutual fund investment a one-touch process. It is one of the best app for investing in mutual fund that has a simple and easy-to-understand interface. Investors get a single view of their investment portfolio. Moreover, one of the unique features that make KFinKart the best app to track mutual funds India is linking several folios. This feature enables investors to not only track their portfolio but their family portfolio as well.
KFinKart also provides insights on investment patterns to help investors improve their investment strategies. It also offers features like reinvestment and start or stop SIP that enhances the convenience of investment.
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5. Zerodha Coin
Coin by Zerodha is the best direct mutual funds app that allows unlimited buy and sell of direct funds at zero commission. It has 3000+ direct funds and adequate filters to help you choose as per your requirements.
Zerodha Coins keep mutual fund investments in Demat form thereby making it more convenient to pledge them as collateral if required. Additionally, this app provides a single view for capital gain, profit & loss statements, and annual returns. Therefore, it is the best app for mutual funds tracking.
6. Paytm Money
Paytm Money is one of the best app for mutual fund investment 2021. It has a quick and paperless KYC process that enables investors to open an account in a few minutes. This app offers a variety of funds schemes categorized as per goals making it easier for investors to make an informed decision.
Paytm Money allows UPI payments making it the best app to buy mutual funds. Moreover, it has the feature of automatic SIP payments. Therefore, investors do not need to worry about missing their SIP dates. Paytm Money has a few ‘Super Saver Funds’ that allow you to invest in liquid funds and enables you to instantly withdraw after 7 days of investment.
7. CashRich
The dynamic SIP method makes CashRich stand out as the best app for investing in mutual fund. This app enables investors to diversify their funds portfolio to gain better returns and save more tax. It has a ‘Switch’ feature that offers quick switching of funds investment within different schemes of the same AMC.
CashRich is attributed as the best app for its free investment portfolio review that helps investors improve their investment strategies. The app also provides personalized recommendations for investors. For any query, they have provided active chatbots to assist you at any hour of the day.
8. Kuvera
Kuvera is also the best app to buy mutual fund as it comes with numerous features. Investors can use its exclusive features such as tax harvesting, TradeSmart, Remit, Family account, etc. for minimizing the impact of the tax in long term, diversifying portfolio and fast and secure withdrawal.
Kuvera allows goal based funds investment and provides investment suggestions as per your existing portfolio. This definitely stands out as the best app for investment in mutual fund due to its simplicity and added facilities.
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Frequently Asked Questions
1. Which app is best for direct mutual fund investment?
Most of the apps have direct mutual funds. However, you must be cautious to detect the word ‘Direct’ prefixed before the fund name to ensure direct funds investment. Kuvera and Zerodha Coin serve as the best app for direct mutual fund investment.
2. Which mutual fund app is best for tracking portfolio?
Portfolio tracking is an essential feature that helps you to manage your investments. While most mutual fund app provides tracking, myCAMS and Groww stands out as the best app for tracking portfolio. However, if the investor is interested to track the portfolio of family members, KFinKart and Kuvera is the best app for family portfolio tracking.
3. Which app is best for mutual fund investment for beginners?
Groww and ETMoney provide numerous learning guides for beginners. These apps provide blogs, videos, and insights on fund schemes that help new investors to make informed decisions. Therefore, these apps are the best app for investment in mutual fund, especially for beginners.
4. Which app is best for mutual funds for SIP investment?
CashRich and Paytm Money are the best apps for SIP mutual funds investment. CashRich has an exclusive feature of dynamic SIP that enhances portfolio diversification. On the other hand, Paytm Money has the feature of automated SIP that deducts the SIP amount at the allotted date thereby preventing SIP date miss.
5. Do Mutual Funds apps levy charges for buy and sell of mutual funds?
Most apps do not charge any commission or brokerage for the purchase and sell of mutual funds. Groww, ETMoney, Zerodha Coin, and Paytm Money are the best apps that allows fund schemes to buy and sell at zero commission.
Final Thoughts
Mutual Funds investment has become swift and easy with the multiple apps available online. You can start your funds investment journey in just a few clicks on your smartphone. However, as there are multiple options, it can be confusing to choose the most suitable app. Therefore, it is always recommended to research before investing. We have handpicked the above apps according to the ease of usage, reliability, transparency, and additional features. Hope this list of the 8 best mutual funds app will help you to start or improve your investment.
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