Indian stock market is full of numerous growth opportunities for today’s traders and investors. The country’s residents now have greater access to these possibilities because of the increasing technological advancements and financial knowledge. Investing in stocks is one of the finest ways to make extra money. Everyone may benefit from stock trading provided it is done in a committed and honest manner with appropriate study and analysis directed by reliable tools. This includes businesspeople, students, working professionals, and even housewives. The fastest and most straightforward way to invest in the stock markets is to invest in mutual funds. One can easily choose from the top mutual fund apps and invest in mutual funds given his specific investment objective and investment capability.
What Is A Mutual Fund?
A mutual fund is an investment pool professionally managed by a fund manager. A trust pools funds from several individuals with similar investing goals and uses those funds to purchase stocks, bonds, money market instruments, or other assets. By computing a scheme’s “Net Asset Value,” or NAV, the income/profits from this collective investment are dispersed proportionately among the investors after deducting appropriate costs and taxes. A mutual fund is, in essence, the money that.
Who should invest in mutual funds?
Mutual funds are the best option for investors who wish to increase their wealth but lack the capital time or desire to do market research. Professional fund managers invest the money received in mutual funds by the declared goal of the program. The fund house takes a tiny fee in exchange, which is subtracted from the investment. The Securities and Exchange Board of India (SEBI) has set limitations on the fees that mutual funds are allowed to charge.
What is a mutual fund app?
A mutual app is a mobile software application intended to help investors put their money in mutual funds. Apart from mutual fund investment, the app also allows users to browse various mutual funds, compare them, and invest in them. Nowadays, it has become more accessible for people to invest in mutual funds as they can invest the amount in diverse mutual funds given their specific investment objective.
Different types of mutual fund apps are available today that provide a lot of ease, value, and transparency in mutual fund investment. To get the best results, choosing from the top mutual fund apps in India that offer the best value is recommended.
Top 10 Mutual Fund Apps To Invest in India
Choosing the top mutual fund apps for 2024 is essential for investors who want to increase their wealth and reach their financial objectives. The financial technology industry is changing quickly, and investors have different demands. As a result, a thorough evaluation of the best mutual fund apps in India in the market is required.
We have compiled a list of the top mutual fund apps in India and information on their features, benefits, and drawbacks to help readers make wise investing choices.
Selecting the best mutual fund apps for your investment needs is crucial to ensure a smooth and practical investing experience. Here are some essential factors to consider when choosing a mutual fund app:
| S. No. | App Name | Features |
| 1 | Groww | • Clean and intuitive user interface • Digital account opening • No distinctive login for mutual funds investment • One click order placement • 5000+ mutual funds |
| 2 | Paytm Money | • Digital KYC • Smart stock search • Enhanced security • Easy user interface |
| 3 | Coin by Zerodha | • Totally digital process • Easy and smart navigation • E-mandate sevice • Simple to start, stop, or pause SIP • Use of same login ID for Zerodha Kite |
| 4 | ET Money | • 100% secure investment • Choose from a plethora of mutual funds • Easy fund tracking • Intuitive interface |
| 5 | Kuvera | • Direct mutual funds • Bank level security • A team of experts • SEBI registered • Top 45 fund houses |
| 6 | myCAMS | • Smart dashboard • digiNFO • eMandate facilty • Timely statements • 15G and 15H forms online |
| 7 | Money Control | • LIVE market feeds • Best performing funds • Risk profiler • Quick redemption |
| 8 | 5Paisa | • Easy SIP calculator • Integrated funds platform • Smart investment schemes • Easy app navigation • Track funds investment online |
| 9 | Fisdom | • Risk analyzer • Tax Calculator • Financial Health Check • Portfolio Tracker • Market Screener Watchlist |
| 10 | SBI Mutual Fund | • Goal Based Investing • Portfolio Tracking • Family Solution Function • Timely alerts and updates |
1. Groww
With more than one crore users, Groww App is among the fastest-growing mutual app investment platforms in India. Groww began as a direct mutual fund platform in 2016. Investors may trade and invest in stocks and mutual funds using the Groww app. The business is now testing several features for the Groww app, including US stocks, digital gold, and fixed deposits. It is counted among the top mutual fund apps from which to choose.
Groww is a smartphone trading app that is offered to all its users without charge. The trading experience is quick, simple, and convenient with this user-friendly trading app’s straightforward design and uncluttered UI.
Groww is a highly encrypted software that adheres to 128-bit SSL security standards, keeping all user data safe and secure.
Top Features
- One-click order placement
- Real time price alerts
- Chat-based customer support
- Easy and intuitive user interface
Pros
- Zero account opening charges
- Digital account opening
- Online IPO application
- Digital gold application
- Direct mutual funds
Cons
- No NRI trading
- No call and trade
- No advanced order types
- No margin trading
Charges
| Category | Charges |
| Account Opening Charges | Zero |
| Mutual Fund AMC Fees | Zero |
| Mutual Fund Brokerage | Zero |
| Mutual Fund Commission | Zero |
| Mutual Fund DP Charges | Zero |
| Other Charges | No Hidden Charge |
2. Paytm Money
Paytm Money is another one of the best mutual fund apps. Developed and promoted by Paytm, India’s largest financial services company, the mutual fund app comes with some of the most impressive features that make it a hot favorite among different types of investors.
For mutual fund investors, Paytm Money is a great way to make free investments in the best mutual funds. The broker offers up to 1% greater returns on direct mutual funds in the equities, debt, hybrid, and ELSS categories from all major fund companies. The portal offers an electronic investing method for the top mutual funds. Additionally, you may look for value research, Morningstar, and CRISIL mutual funds that are among the best performing or rated.
Top Features
- Digital account opening
- Invest in NPS
- Secure and trustworthy
- LIVE market info
- Easy user interface
Pros
- No brokerage on delivery orders and intraday and F&O trade
- Invest in direct mutual funds at zero cost
- Free mutual fund advisory services.
- One-tap switch facility
- Online IPO investment
Cons
- Platform charges – Rs. 30 per month
- High call & trader charges
- No free delivery trading
- No 3-in-1 account
Charges
| Trading Account Opening Charges: | Rs 200 |
| Trading Account AMC: | Rs 30 per month (Platform fees) |
| Demat Account Opening Charges: | Free |
| Demat Account AMC: | Free |
3. Coin by Zerodha
The free direct mutual fund investing platform “Zerodha Coin” was introduced by Zerodha, the first broker to do so. It’s the most excellent place to make free direct mutual fund investments without commissions or brokerage fees. Additionally, the platform makes investing in corporate bonds, sovereign gold bonds (SGB), ETFs, and government securities (T-bills) easier.
The Coin Zerodha platform is accessible via mobile apps and online. You may download the coin mobile app for iOS and Android devices or use any compatible browser to view the coin.zerodha.com website.
Top Features
- Zero commission investment
- Top-notch corporate bonds
- Search filters for easy navigation
- Easy online mutual fund investment process
- Direct mutual funds
Pros
- Buy funds right from AMCs
- No cost redemption
- Perfect for beginners
- Zero subscription charges
Cons
- Zerodha account necessary
- No availability of research & advisory services
Charges
Account Opening Fees: None
Brokerage Charges: None
- DP Charges: None
- AMC Fees: Zero
- Commission: Zero
- Other Charges: No hidden charges.
4. ET Money
With an average user rating of 4.5 in the Google Play Store, the app is well-known in the market for investment platforms. As of October 2024, the app has over 10 million downloads so far. Anyone may invest in direct mutual fund programmes at a minimal cost with ET Money. One of the top mutual fund apps in India, ET Money app offers a lot of services, including credit card lending, loans, health, term, and auto insurance, investments in mutual funds, FDs, NPS, and SIPs, and a spending tracker.
Top Features
- Invest in top AMCs
- Advanced security protocols
- Invest in direct mutual funds
- Secure & reliable
Pros
- Smart Deposit
- 0 commission investment
- Perfect for beginners
- Zero subscription charges
Cons
- Improper auto debit functionality
- Normal customer support
Charges
Users can download the app for free and use it to invest in general or to create an account. Depending on the funds you choose to invest in, the costs are restricted to those of asset management firms.
5. Kuvera
The goal-based investing function of the Kuvera mutual fund investment app is included. One of the best mutual fund apps to invest in India, the Kuvera app satisfies investors’ many financial objectives, including tax savings, wealth building, economic stability, etc., with its suggestions. With the app’s single-view dashboard, investors may effortlessly monitor their assets at any time and from any location.
Top Features
- One point login
- Family account
- Easy user interface
- Option to invest in gold
Pros
- Goal-based investing
- Remarkable customer support
- Perfect for beginners
- Enhanced privacy
- Hassle-free mutual fund investment
Cons
- Elongated KYC procedure
- Occasional glitches
Charges
Regardless of the amount of an asset, the Kuvera app is free to use, and the only fees it charges are transaction fees based on what asset management providers charge. Value-added services are also provided via the app, and users may be paid based on the services they purchase.
6. MYCAMS
With the MyCAMS Mutual Fund app, managing your mutual fund investments may be straightforward. With the help of the platform’s many capabilities, you can easily track, manage, and invest in mutual funds. You may transact in mutual funds, switch to direct plans, see a thorough portfolio view, examine transaction history, and use other tools to maximize your investment opportunities by signing into your MyCAMS account.
You can choose one of India’s top mutual fund apps to get the best value.
Top Features
- Single point access
- Portfolio tracking
- Simple transactions
- Reliable
Pros
- Transaction services
- eKYC
- Consolidated account statement
- Portfolio summary
Cons
- Elongated KYC procedure
- Occasional glitches
Charges
It comes at zero cost.
7. Money Control
Moneycontrol has released “Moneycontrol Transact,” one of the top mutual fund apps, on the app stores for iOS and Android devices. It is a complete solution for mutual fund investors, allowing them to easily invest in mutual funds online in a few simple steps in addition to researching and learning about them. The app’s primary function is to assist customers in selecting which funds to invest in and then enable them to finish the transaction on their phones. With Money Control Transact, consumers may receive customized recommendations for mutual funds based on various factors.
Top Features
- Customized advisory
- Invest is best performing mutual funds
- Easy interface
- Privacy and security
- Stock-pin feature
Pros
- Single dashboard for easy access
- Portfolio tracking
- Detailed fund analysis
- No ads
- Macro meter
- Smart calendars
Cons
- Not an ideal solution for beginners
- Hands occasionally
Charges
It comes at zero cost.
8. 5Paisa
Online discount stock broker 5Paisa provides direct mutual fund trading. An extra 1% can be earned annually by investors who put money into direct mutual fund schemes. For mutual fund orders, 5paisa charges a fixed brokerage fee of Rs. 10 per executed transaction. 5paisa facilitates lump sum and systematic investing plans in mutual funds. It provides a variety of fund categories for investment. You can make direct investments and NFOs from the same mutual fund account.
Top Features
- Easy tracking of mutual funds
- Free trading, demat, and MF account
- Customized smart investment schemes
- SIP investment
- Smart navigation
Pros
- All-in-one account
- LIVE updates
- Tax-saving ELSS funds
- One-click order execution
Cons
- Occasional logouts
- No availability of multiple watchlists
Charges
| Account Opening Charges | Rs 650 (one time) |
| Demat AMC | Rs 540 per year |
| Mutual Fund Brokerage | Rs 10 per order |
9. Fisdom App
When Fisdom was initially established in 2015, its only offerings were investments in mutual funds, health insurance, and national pension plans. Users may download the Fisdom mobile app from the App Store or the Google Play Store. More than 10 lakh users have given it a 4.4 rating on the Play Store, while 4.6 ratings are available on the App Store. All the following features make your whole trading experience more straightforward and successful. You can increase your trading earnings and make more intelligent trading selections with many tools.
This is one of the best mutual fund apps for investing in India.
Top Features
- Risk analyzer
- Tax Calculator
- Financial Health check
- Portfolio tracker
- Market screener
- Watchlist
Pros
- Easy navigation
- Variety of mutual funds to invest in
- Refer and earn feature
Cons
- Slow app loading
- Average customer care
Charges
| Account Opening Charges | Free (Limited period Offer) |
| AMC | Rs.299 per Year + GST |
10. SBI MF
One of India’s top mutual fund apps, SBI MF InvesTap allows you to conduct various financial operations online effortlessly.
Top Features
- Goal-based investing
- Portfolio tracking
- Family Solution function
- Timely alerts and updates
Pros
- Easy navigation
- Top mutual funds from SBI for investment
- Real-time alerts
- Zero brokerage for MF investment
Cons
- No availability of funds from other houses
Charges
| Account Opening Charges | Nil |
| Mutual Fund AMC Fees | |
| Mutual Fund Brokerage | Nil |
| Mutual Fund Commission | Exit Load is charged if you redeem the fund before the prescribed period. It can be 1-2% depending on the fund type. |
| Mutual Fund DP Charges | |
| Other Charges | No transaction charges |
Factors To Consider While Choosing From The Top Mutual Fund Apps in India
User-interface:
Seek a mutual fund app that has a user-friendly, straightforward interface. Managing your money may be more convenient with a user-friendly design.
Regulatory Compliance:
Verify that the top mutual fund apps have all your nation’s applicable financial regulations and authorizations. For instance, mutual fund applications must be registered with the Securities and Exchange Board of India (SEBI) in India.
Choosing a Fund:
Verify whether the app provides a large selection of mutual funds from various asset management firms (AMCs). A solid app should allow access to a range of funds from different asset classes.
Performance Tracking:
The app should offer up-to-date information on the Net Asset Value (NAV), past returns, and fund specifics for your portfolio.
Research Tools:
A good mutual fund app should provide research and analysis tools to assist you in making wise investing decisions. Investment calculators, historical data, and fund fact sheets are a few examples of this.
SIP and Investment Options:
Determine if the app gives you the freedom to select the frequency and quantity of your investments and the ability to set up Systematic Investment Plans (SIPs).
Security Features:
To safeguard your financial information, prioritize the top mutual fund apps with robust security features like encryption, biometric verification, and two-factor authentication.
Customer Service:
Consider how prompt and available the customer service is if you need help or have inquiries concerning your investments.
Transaction Process:
Consider how simple it is to carry out transactions, such as purchasing, selling, and transferring money. The key to effective investment is a smooth transaction procedure.
Account Management:
Verify whether the mutual fund application has tools for maintaining your account, such as linking transactions to your bank account and updating nominee information and personal information.
Goal-Based Investing:
Specific applications include alternatives for goal-based investing, assisting you in saving and making investments for particular financial objectives such as home ownership, education, or retirement.
Reviews and Ratings:
To determine the app’s dependability and level of customer happiness, check for reviews and ratings left by users on reliable review websites or app stores.
Performance History:
Examine the app’s past performance, taking note of its dependability, uptime, and technical problem history.
Educational Resources:
Consider if the app provides lessons, articles, videos, or other educational materials to help you better grasp investing and mutual funds.
Exit Strategy:
Familiarise yourself with the app’s regulations and procedures in order to close or withdraw your investments as needed.
Reviews and Ratings:
Look for user reviews and ratings of the app on app stores or trusted review websites to gauge user satisfaction and reliability.
Performance History:
Research the app’s track record, including its uptime, reliability, and history of technical issues.
Educational Resources:
Consider whether the app offers educational resources, articles, videos, or tutorials to help you improve your understanding of mutual funds and investing.
Exit Strategy:
Familiarise yourself with the app’s regulations and procedures in order to close or withdraw your investments as needed.
Understand the redemption process for mutual funds using the app, including how long it takes for the money to post to your bank account.
Compatibility:
Verify that the programme is responsive for desktop use and works with your mobile device’s operating system.
The Conclusion
At a time when mutual fund investment offers unprecedented growth over other investment avenues, it is necessary to choose from the best mutual fund apps in India. As mentioned earlier, top mutual fund apps offer value to investors in terms of ROI, user interface, security, ease of use, and transparency. However, it is better to thoroughly compare all the best mutual fund apps in India before choosing a particular one.
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FAQs
Qu1. Is investing using mutual fund apps safe?
Ans. Yes, in today’s times of high-end security protocols, it is entirely safe and secure to invest in mutual funds through mobile apps.
Qu2. What are the top mutual funds apps with the lowest charges?
Ans. Some of the best mutual fund apps with the lowest charges are Groww, Paytm Money, Zerodha Coin, and myCAMS.
Qu3. Is it necessary to link my bank account details to a mutual fund app?
Ans. Yes, Linking your bank account to a mutual fund app for registration and redemption is necessary.
Qu4. Can I withdraw my mutual funds without paying any penalties?
Ans. Generally, no charges are associated with taking money out of a mutual fund at any time. However, depending on the kind of account and the mutual fund’s performance, you can be subject to early withdrawal penalties if the mutual fund is kept in a tax-advantaged account like an IRA.
Qu5. What are some other popular mutual fund apps in India?
Ans. Some of the best mutual funds to invest in India are SBI MF, Kuvera, ET Money, etc.