This Article was fact checked and last updated for accuracy on December 3, 2024 by Mani Karthik
Investing in mutual funds is a great way to grow your money over time. However, with so many different options out there, it can be difficult to know where to start. Luckily, there are a number of great apps available that can help you make the most of your investment. Here are some of the best apps to invest in mutual funds in India.
1. FundsIndia
FundsIndia is a good app for investing in mutual funds because it is user-friendly and offers a wide range of features. It has a simple and easy-to-use interface, making it ideal for first-time investors.
The app also offers a wide range of investment options, including stocks, mutual funds, and ETFs. It also provides a comprehensive analysis of each investment option, helping you make an informed decision.
Another key feature of FundsIndia is its ability to track your investments and provide real-time updates on their performance. This helps you stay on top of your investments and make necessary changes to your portfolio, if required.
Overall, FundsIndia is a good option for those looking to invest in mutual funds. It is user-friendly, offers a wide range of features, and provides real-time updates on your investments.
The biggest disadvantage of the FundsIndia mutual fund app is that it does not offer a live chat feature. This means that if you have any questions or concerns, you will need to contact customer service through email or by phone.
Additionally, the app does not have a built-in calculator, so you will need to use an online calculator to determine how much you need to invest in order to reach your financial goals.
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2. SIP Planner by Zerodha
Zerodha’s SIP Planner is a mutual fund investment app that helps you plan and track your investments. It provides you with insights on how your investment is performing and also suggests ways to improve your investment strategy.
The app has a simple and user-friendly interface that makes it easy to use. It also offers a number of features that make it a good choice for those looking to invest in mutual funds.
Some of the features of the app include:
1. Goal-based investing:
The app allows you to set goals for your investment and then tracks your progress towards achieving those goals. This helps you to stay on track with your investment strategy and ensures that you are making the most of your investment.
2. Diversified portfolio:
The app provides you with a diversified portfolio that is designed to minimize risk and maximize returns. This helps you to reduce the chances of losing money in your investment and gives you the potential to earn higher returns.
3. Tax-efficient investing:
The app helps you to invest in a tax-efficient manner so that you can save money on your taxes. This is a great feature for those who are looking to invest for the long term.
4. Low-cost investing:
The app charges very low fees for its services, which makes it a good choice for those who are looking to invest in mutual funds.
5. Personalized advice:
The app provides you with personalized advice based on your investment goals and risk tolerance. This helps you to make the best decisions about your investment and ensures that you are on the right track.
The Zerodha SIP Planner is a great choice for those looking to invest in mutual funds. It offers a number of features that make it a good choice for investors, including goal-based investing, diversified portfolios, tax-efficient investing, low-cost investing, and personalized advice.
3. ET Money
ET Money is a good app for investing in mutual funds for a number of reasons. Firstly, it is very user-friendly and easy to navigate.
This makes it ideal for those who are not particularly financially savvy or experienced in investments.
Secondly, the app provides a great deal of transparency and information on each fund, allowing users to make informed decisions about where to invest their money.
Finally, ET Money offers a wide range of investment options, including both traditional and more innovative options such as ETFs and index funds. This means that there is something to suit every investor’s needs and preferences.
There are several potential limitations or disadvantages of using the ETMoney mutual funds app. For example, the app may not be available in all countries, and it may not support all types of mutual funds.
Additionally, the app may have some fees associated with it, and it may not be as user-friendly as some other investment apps.
4. Moneycontrol
Moneycontrol is a good app for investing in mutual funds because it is easy to use and has a lot of features and USPs.
Some of the features of Moneycontrol include:
- Investment recommendations: The app provides personalized investment recommendations based on your risk appetite, investment goals and time horizon.
- SIP Calculator: The app has a SIP calculator which helps you calculate the return on your investment over a period of time.
- Portfolio tracker: The app allows you to track your investment portfolio and the performance of your mutual fund schemes.
- Research reports: The app provides research reports on mutual fund schemes which help you make informed investment decisions.
Some of the USPs of Moneycontrol include:
- Easy to use interface: The app has a user-friendly interface which makes it easy to use.
- Detailed information: The app provides detailed information on mutual fund schemes which helps you make informed investment decisions.
- Personalized recommendations: The app provides personalized investment recommendations based on your risk appetite, investment goals and time horizon.
- SIP calculator: The app has a SIP calculator which helps you calculate the return on your investment over a period of time.
- Portfolio tracker: The app allows you to track your investment portfolio and the performance of your mutual fund schemes.
There are a few limitations or disadvantages of the Moneycontrol mutual funds app which include:
- The app does not allow users to set up a systematic investment plan (SIP) for investing in mutual funds.
- The app does not track the performance of one’s investments in mutual funds over time.
- The app does not provide any tools or resources for research or analysis of mutual funds.
- The app does not offer any advice or recommendations on which mutual funds to invest in.
5. Groww
Groww is a good app for investing in mutual funds because it is user-friendly, has a clean interface, and is easy to navigate. It also has a wide range of features and USPs that make it a great choice for those looking to invest in mutual funds.
Some of the key features that make Groww a great choice for investing in mutual funds include:
- The ability to start investing with as little as Rs. 100
- A wide range of mutual fund schemes from leading AMCs to choose from
- Detailed information on each scheme, including performance, asset allocation, and risk profile
- Flexible investment options, including lump sum and SIP investments
- Easy tracking of your investments and portfolio performance
Some of the key USPs of Groww that make it a great choice for investing in mutual funds include:
- No hidden fees or commissions:
Groww does not charge any fees or commissions on your investments, ensuring that you keep more of your returns. - Free account opening and KYC:
Opening a Groww account and completing your KYC formalities is completely free. - Automatic portfolio rebalancing:
Groww automatically rebalances your portfolio periodically to ensure that it remains aligned with your investment goals. - Direct plans only:
Groww only offers direct plans of mutual fund schemes, which have lower expense ratios and thus offer higher returns.
Overall, Groww is a great choice for those looking to invest in mutual funds due to its user-friendly interface, wide range of features, and USPs.
Limitations
There are a few potential limitations or disadvantages of using the Groww mutual funds app. First, it is possible that the app may not be available in all countries.
Additionally, the app may not be compatible with all devices, so it is important to check compatibility before downloading.
Finally, the app may not offer all of the features that some investors might be looking for in a mutual fund app.
Also read: The best Mutual Fund apps in India
6. KapitalWise
KapitalWise is a great app for investing in mutual funds because it makes it easy to track your investments and see how they are performing.
The app also provides a variety of tools and resources to help you make the best investment decisions. KapitalWise is a free app, and it is available for both iOS and Android devices.
Limitations
There are a few limitations or disadvantages of the KapitalWise mutual fund app. First, the app is only available in English, which may not be ideal for all investors.
Second, the app does not offer any type of customer support, so if you have any questions or problems, you will need to figure it out on your own.
Finally, the app is not available on all devices, so you may not be able to use it if you do not have a compatible device.
7. Wealthfront
Wealthfront is an excellent app for investing in mutual funds because it is user-friendly and offers a variety of features and USPs.
For example, Wealthfront allows users to set up an account and start investing with as little as $500.
Additionally, the app provides users with a goal-based investing tool, which helps users to set and track progress towards their financial goals.
Finally, Wealthfront charges no fees for account management or for investing in mutual funds, making it an affordable option for many investors.
Limitations
There are a few potential limitations or disadvantages of using the Wealthfront mutual fund app. First, as with any investing app or tool, there is the potential for user error.
If someone does not input the correct information or make the right choices when using the app, they could end up losing money.
Second, the app is only as good as the data and algorithms that it is based on. If there are any errors in the data or the algorithms, this could lead to incorrect results.
Finally, the app is a tool, and like any tool, it can only do so much. It cannot make investment decisions for the user or provide financial advice.
Also read: The best mutual funds in India
8. Acorns
Acorns is a good app for investing in mutual funds for a number of reasons.
First, it is very user-friendly and easy to use.
Second, it offers a variety of investment options, including index funds, exchange-traded funds (ETFs), and even individual stocks.
Third, Acorns automatically invests your spare change, which makes it a great way to start investing with very little money.
Finally, Acorns offers a great customer service team that is always willing to help.
Limitations
The Acorns mutual funds app has a few limitations.
First, it is only available to US investors. Second, it does not offer all of the features and investment options that are available on other investment platforms.
Finally, the fees associated with Acorns can be high for some investors.
9. PayTM Money Stocks
PayTM Money Stocks is a good app for investing in mutual funds because it is free to use, has no hidden fees, and is available to anyone with a PayTM account.
The app also allows users to track their investments and performance and provides tips and guidance on how to invest in mutual funds.
Limitations
The PayTM Money Stocks mutual funds app has a few limitations. For one, it is only available to Indian residents.
Additionally, the app only supports English and Hindi, so users who speak other languages may not be able to use it.
Finally, the app only allows for investment in stocks and mutual funds, so users who want to invest in other asset classes will need to use another app or service.
What to look for when choosing a mutual funds app
Some of the key things to consider when developing a mutual fund investing app include:
1. The app should be easy to use and navigate.
2. It should offer a variety of investment options to choose from.
3. The app should provide tools and resources to help users make informed investment decisions.
4. It should allow users to track their investments and performance over time.
5. The app should offer customer support in case users have any questions or need assistance.
Risks Associated
There are several risks associated with mutual fund investment apps in India. These include:
1. Market risk:
This is the risk that the value of your investment will go down due to factors such as economic recessions, interest rate changes, or political instability.
2. Liquidity risk:
This is the risk that you will not be able to sell your investment quickly enough to avoid losses if you need to. This can be a problem if you invest in a less popular mutual fund or one that is not well-known.
3. Fraud risk:
There have been cases of fraud involving mutual fund investment apps in India. This includes cases where people have lost money after investing in fake mutual funds or have been misled about the performance of a fund.
4. Performance risk:
Even if a mutual fund has a good track record, there is no guarantee that it will continue to perform well in the future. Past performance is not necessarily indicative of future results.
5. Regulatory risk:
The rules and regulations governing mutual fund investment apps in India can change at any time, which could impact the way your investment works.
All the best!