One of the common investment terms we frequently hear is mutual funds. In simple words, it’s a business that raises money from different people and invests the same in different investment plans like equities, bonds, gold, etc. These funds are managed by qualified and skilled fund managers.
If you want to know more about mutual funds, please check out our article. In this post, we will mainly talk about the 5 best apps to start investing in mutual funds.
Best apps in India for Mutual Funds investing
Coin (By Zerodha) app
Google Play Store Rating: 4.2 out of 5
Google Play Store Reviews: 284 K Reviews
Google Play Downloads: 10 Million+ App Store
Rating: 3.1 out of 5
App Store Reviews: 3.6 K Ratings
Coin app is Zerodha’s mutual fund platform, where investors can invest in various mutual funds with no commission. The coin has both a mobile app and a website for its users. Please find the below features of the Coin app:
- You have the option of creating and modifying your SIPs whenever you want
- All the changes made to the SIPs can be done instantly, and hassle-free
- You have the option to select funds from various themes, and categories as per your financial plan
- Track your holdings easily through the Coin app
- Get information on all the fund performance and sector-wise reports
- You can invest in Equity Linked Savings Scheme and save taxes as per section 80C
Groww app
Google Play Store Rating: 4.2 out of 5
Google Play Store Reviews: 284 K Reviews
Google Play Downloads: 10 Million+ App Store
Rating: 3.1 out of 5
App Store Reviews: 3.6 K Ratings
Among the top trading apps in India, Groww has excellent performance. Additionally, their software offers a capability for systematic investing plans. Groww allows investors to make investments starting at just 100 INR a month (varying depending on the type of fund chosen).
- Simple and fast account opening process
- You can use smart filters to select the suitable mutual fund to invest
- Mutual fund SIP calculator to estimate return as per past performance
- Both SIP and one-time investment options in mutual funds investment
- Check this website for mutual fund fee-related information.
ET Money app
Google Play Store Rating: 4.2 out of 5
Google Play Store Reviews: 284 K Reviews
Google Play Downloads: 10 Million+ App Store
Rating: 3.1 out of 5
App Store Reviews: 3.6 K Ratings
ET money app deals with Mutual funds investment, SIP, and tax saving options like ELSS, life insurance, health insurance, NPS, etc. It also provides investment ideas as per your financial goals. With various features, ET money is one of the best investment apps when it comes to tax savings ideas. Let’s review the advantages of using the app for mutual fund investment
- Zero commission on mutual fund investment
- Invest in SIP or lump sum
- Invest in ELSS to save tax
- Get expert recommendations on mutual fund selection
- Select a mutual fund as per your goal, risk appetite, etc
- It supports UPI payment & net banking for the SIP/Lumpsum investment
- You can also switch your mutual funds from other apps (a few selected mutual fund apps)
- Dashboard to show all your mutual fund investment performance
Paytm Money app
Google Play Store Rating: 4.2 out of 5
Google Play Store Reviews: 284 K Reviews
Google Play Downloads: 10 Million+ App Store
Rating: 3.1 out of 5
App Store Reviews: 3.6 K Ratings
When it comes to mutual fund investment, PayTM money also gives access to various AMCs funds. PayTM money has both a website and a separate app for investment. It offers the user to invest in direct mutual funds.
- Zero commission fee or hidden charge
- Instant and paperless account opening
- Get free statements, insights, and performance reports
- You can also view various schemes rated by CRISIL, Morningstar & Value Research
- Invest in ELSS to save tax (lock-in period 3 years)
- Invest in liquid funds for an instant redemption facility
Cherry app
Google Play Store Rating: 4.2 out of 5
Google Play Store Reviews: 284 K Reviews
Google Play Downloads: 10 Million+ App Store
Rating: 3.1 out of 5
App Store Reviews: 3.6 K Ratings
Cherry app, an investment app by Kotak has gained attraction in the market in recent days. Cherry gives options to invest in mutual funds, stocks, bonds, NPS, FDs, etc. Since it’s a Kotak trusted app, you can invest safely and securely. Let’s find out a few features of the Kotak Cherry app
- They charge 0% commission for mutual fund investment
- Upload already invested mutual fund records and track them in Cherry easily
- Get access to a wide range of mutual funds
- You can invest in Index funds, sax saving funds, etc
- Browse mutual funds by their categories (equity, hybrid, debt, etc)
All the above investment apps are popular and provide hassle-free mutual fund investment platforms. There are more apps in India which provides similar features and advantages. Before starting a mutual fund investment, it is recommended to learn about mutual funds and all about the application or platform that you are going to use. Also, check all the updated fee structures and t&c on their official website to avoid missing any crucial information.
FAQ on Mutual Funds Buying Apps
Mutual fund apps by reputed and well-established companies are safe as they maintain the security of their client’s accounts. Please go through the t&c and the company background before using any app for investing
Mutual funds give diversification, simplicity, and affordability to the investor. Also, it’s very easy to buy or sell mutual funds through an investment app.
Most of the mutual fund apps by reputed companies are authorized to trade mutual funds. You can always check their license to confirm the same before investing.
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