10 Best Mutual Fund Apps to Invest in India 2024: Know Complete Detail

Best Mutual Fund Apps – Choosing the finest mutual fund app in 2024 is a critical decision for investors trying to increase their wealth and achieve their financial objectives. The quickly changing world of financial technology, together with the different needs of investors, allows a thorough examination of the market’s leading contenders.

To aid readers in making informed financial decisions, we have compiled a list of the top-performing mutual fund apps in India, along with their features and the benefits and drawbacks of utilizing them.

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What are Direct Mutual Funds?

Direct Mutual Funds are a type of investment that allows you to save and increase your money for the future. In this scheme, you will invest your money directly in stocks or bonds with the fund’s manager, rather than going via an intermediary such as a financial counselor or a broker. This eliminates the need to pay additional fees to the middleman.

Direct mutual funds are an excellent choice for young people or people who are just starting to save. It is simple to grasp, and the best thing is that you can get started with little money.

Best Mutual Fund Apps 2024

Top 10 Best Mutual Fund Apps are given in the table below.

10 Best Mutual Fund Apps Investments

Now let’s discuss about features, specifications, pros, and cons of each app one by one.

1. Upstox

The Upstox Mutual Fund App is an easy-to-use tool that provides a wide range of investment options, including stocks, mutual funds, and ETFs. Some advanced tools, such as a mutual fund screener, a risk calculator, and detailed mutual fund information, assist users in making informed investing selections, making it a fantastic alternative for beginners.

The best aspect is that there are no commission fees for investing in mutual funds, but you will be paid a small exit load if you sell your mutual fund units before a set time. 

Features and Specifications

• Processing Fee: Nil
• Coverage: Over 2,000 mutual funds from over 44 asset management companies
• A mutual fund screener allows users to filter mutual funds based on their financial criteria.
• Risk calculator that helps users to determine their risk tolerance
• It sends users notifications about important events, upcoming dividends, and redemption dates.

2. Zerodha Coin

Are you considering investing in direct mutual funds? Zerodha Coin is an excellent choice because it has no additional commission fees. Calculate how much you could save if you didn’t have to pay the 1% to 1.5% commission fees. Complex apps, on the other hand, can be a big pain, but not this one! Whether you’re new to investing or a seasoned veteran, you’ll find it simple.

Features and Specifications

• Processing Fee: No charges up to an investment of INR 25,000, then INR 50 monthly thereafter.
• Coverage: More than 5,000, including options for stock trading 
• Focused on direct mutual funds for lower expenses, higher potential returns 
• Portfolio tracking and transaction history features
• Coin by Zerodha, Top Robo-advisors for mutual funds in India

3. Groww Stocks, Mutual Fund, UPI

Groww is a diverse investment platform that allows you to invest in a variety of financial instruments such as mutual funds, Indian equities, IPOs, and F&O. You will be able to choose between standard and direct mutual funds using this app.

Groww distinguishes itself with its cost-effective strategy and user-friendly interface, offering a seamless experience for investors. It is one of the top Mutual fund research applications, providing extensive information on various schemes so that you can make informed investment selections with your hard-earned money.

Features and Specifications

• Processing Fee: Nil
• Coverage: More than 5000, including stock trading
• Offers competitive stock trading at a minimal brokerage rate with live market data and analysis.
• Portfolio tracker and transaction history
• Registered with SEBI, RBI, and AMFI

4. INDmoney Stocks & Mutual Fund

INDmoney provides a variety of services, including stock trading and mutual fund investing, giving consumers a one-stop shop for all of their financial needs. Users can make informed selections thanks to the user-friendly interface, in-depth mutual fund research, and personalized financial recommendations based on individual financial goals and risk tolerance.

Features and Specifications

• Processing Fee: Nil
• Coverage: More than 5,000 mutual funds from over 45 AMCs in India
• It offers types of mutual funds such as equity, debt, index, large-cap, small-cap funds, and much more.
• One of the best mutual fund SIP apps offers various SIP plans for 5 years.

5. Paytm Money: Stocks, MF, IPO

Are you seeking a versatile and user-friendly platform that handles both traditional and direct mutual funds? The Paytm Money Mutual Funds App, with its wide mutual fund choices and enhanced security, guarantees that all of your transactions are secure and transparent, allowing you to invest with confidence. 

Features and Specifications

• Processing Fee: INR 200 + GST to open, INR 100 + GST annually, and min INR 10 to 0.05% of the transaction value as a transaction charge.
• Coverage: More than 2000 mutual fund options from 40 houses
• Goal Planning
• SIP calculator to help you figure out how much to invest regularly
• Portfolio tracking so that you can also keep an eye on your investments in real-time

6. 5Paisa

5paisa is one of the safest and best mutual fund apps for traders of all levels, with a plethora of features and an easy-to-use design. It allows you to invest in mutual funds, stock market trading, initial public offerings (IPOs), and so on. While it provides complete trading and investing choices, users may face a minor learning curve and occasional technical glitches. 

Features and Specifications

• Processing Fee: Account opening free, max INR 20 brokerage per trade, and subscription plans: Basic, Power Investor, and UltraTrader, price ranging between INR 199 to INR 599 for three months
• Coverage: 9000+ schemes
• Registered with SEBI, CDSL, BSE, NSE, and MCX
• Access to IPOs and stock market trading
• 10M+ mutual fund app download

7. Kuvera

Kuvera is a high-end mutual fund app run by a team of seasoned ex-money managers and computer specialists who ensure a data-driven approach to financial management. The program primarily focuses on direct plans, freeing customers from paying commissions that can reach 1.5% in ordinary plans, allowing you to earn up to 35% in high returns in just 20 years.

Features and Specifications

• Processing Fee: Nil, but transaction fees range from 0.12% (cash) to 0.05% (derivatives) of trade value.
• Coverage: 5000+ mutual fund options
• Registered with the Securities and Exchange Board of India (SEBI) as an Investment Advisor (INA200005166)
• Easy to use and navigate 
• Send notifications after adding new features 

8. KFinKart Investor Mutual Funds

Have you ever yearned for a more convenient way to manage your investments? Consider the KFinKart Investor Mutual Funds app, a mobile app that manages mutual fund portfolios all in one place. One of its primary features is the ability to conduct smooth online transactions.

Using this mutual fund portfolio management tool, you may easily buy, sell, or switch mutual fund units. There is no need for documentation or face-to-face meetings with intermediaries. The app will also send you timely reminders to guarantee that you never miss out on critical investment opportunities or deadlines.

Features and Specifications

• Processing Fee: Nil
• Coverage: More than 2000 funding options
• Comprehensive fund information and portfolio tracking features enable users to make informed decisions and timely adjustments as required.
• User-friend interface and personalized recommendations enhance user experience, making it suitable for newcomers. 
• Provides in-depth fund analysis for informed investment decisions aligned with your financial goals.
• Goal planning features help create and track customized investment plans.

9. ET Money Mutual Fund App

ET Money is another famous mutual fund software that allows you to invest in both traditional and direct mutual funds. Depending on your preferences and financial goals, you can invest in direct mutual funds via SIP or lump sum.

The best feature is that it makes personalized investment recommendations depending on your financial goals. SmartDeposit, SmartSwitch, and SmartSIP are intelligent tools that help you optimize your investments based on your particular financial goals and risk profiles.

Features and Specifications

• Processing Fee: INR 499 for account opening, 0.10% of investment value for platform fee, and INR 10 transaction fee for every purchase or redemption of mutual funds.
• Coverage: More than 2,000
• Regular and direct mutual funds
• Registered with SEBI, RBI, and AMFI
• Hassle-free onboarding process with easy sign-up, one-time KYC verification
• Allows smooth transition from regular investment plans to direct mutual funds

10. Fisdom: Stocks, IPOs & MFs

Fisdom provides a wide range of investing options, including over 5000 mutual fund schemes, equities, ETFs, and IPOs. With its user-friendly interface, managing a diverse portfolio is as simple as placing orders. The company reports analyst ratings and financial data provided by the research and analytical tools that allow you to make informed investment selections. Simultaneously, the professional customer support team is available via email and phone to assist you with any inquiries or problems.

Features and Specifications

• Processing Fee: Zero fees for direct MFs, flat ₹20 for agent MFs
• Coverage: 5000+ mutual fund schemes 
• Provides personalised investment advisory service with expected return rate per annum
• Can invest from Rs 500 to Rs. 20,000 per month

You should select these platforms if you are looking for a reliable all-in-one platform to create a diversified portfolio at low cost, along with a user-friendly interface, easy-to-use portfolio management features, and comprehensive research and analysis tools. 

Factors to consider when choosing a mutual fund app

Picking the right mutual fund app is crucial for smooth investing. Here’s how to choose the best one:

• User-Friendly Interface: Opt for an easy-to-navigate app for convenient investment management.
• Regulatory Approval: Ensure it’s approved by financial authorities, like SEBI in India, for security.
• Diverse Fund Options: Look for apps offering various funds from different companies for more investment choices.
• Cost Considerations: Understand fees and expenses to align with your budget.
• Performance Updates: Get real-time updates on your investments to stay informed.
• Research Tools: Look for analysis tools for making wise investment decisions.
• SIP and Investment Flexibility: Check if it allows for flexible investing options.
• Security Features: Confirm strong security measures to protect your financial data.
• Customer Support: Ensure prompt support is available for any assistance you may need.
• Smooth Transactions: Choose an app with an easy process for buying, selling, and switching funds.
• Account Management: Ensure you can easily update personal details and link your bank account.
• Goal-Oriented Options: Some apps help you save for specific goals like retirement or education.
• User Reviews: Check ratings and reviews for user satisfaction and reliability.
• Performance History: Research its track record for reliability and technical issues.
• Educational Resources: Look for resources that help you understand mutual funds and investing.
• Exit Strategy: Know how to withdraw or close your investments if needed.
• Redemption Process: Understand how funds are withdrawn and when they’ll reach your bank account.
• Compatibility: Ensure the app works smoothly with your device for hassle-free investing.

How do I transfer money from my mutual fund account to my bank account?

Follow these steps:

• Log In: Access your mutual fund account.
• Find Withdrawal Option: Look for the fund redemption or withdrawal option.
• Choose Fund: Select the fund you want to withdraw from.
• Enter Amount: Specify the transfer amount.
• Select Bank: Choose the linked bank account.
• Review Details: Double-check withdrawal details.
• Authenticate Transaction: Follow security prompts.
• Submit Request: Confirm and submit.
• Receive Confirmation: Expect processing details.
• Wait for Processing: Allow a few business days.
• Check Bank Account: Monitor for the funds.
• Review Statement: Confirm the transferred amount.

Which are generally the safest mutual fund options?

For newcomers, Zerodha and Groww are India’s safest and most reliable mutual fund investment apps. Exploring alternatives like Paytm, ET Money, Kuvera, 5paisa, myCAMs, and similar options is also worthwhile.

Best Mutual Fund Apps FAQs

1. Which is better: SIP or lump sum investment in mutual funds?

Ans. SIP is ideal for long-term goals, while lump sum investment is particularly advantageous for achieving immediate market gains.

2. What are ELSS funds?

Ans. ELSS (Equity Linked Savings Scheme) is a type of mutual fund that comes with tax benefits in India. Here, you’ll invest in equities or company stocks for a three-year lock-in period. In return, you’ll have the potential for tax benefits under Section 80C of the Income Tax Act and higher returns, though higher risk is also involved.

3. How do I withdraw money from my mutual fund app?

Ans. Follow these general steps to withdraw money from your mutual fund app:

• Log In: Open the app and log in.
• Select Fund: Find the mutual fund you want to withdraw from.
• Initiate Redemption: Choose “redemption” or “withdrawal.”
• Specify Amount: Enter the withdrawal amount.
• Confirm Details: Review the amount and destination bank account.
• Authentication: Verify transactions with PIN, password, or biometrics.
• Submit Request: Confirm and submit withdrawal.
• Confirmation: You’ll receive a confirmation message or email.
• Wait for Processing: Processing time varies, usually a few business days.
• Check Bank Account: Monitor for the deposited funds and review bank statements.

4. Can I withdraw my mutual funds without penalty?

Ans. Yes! In most cases, you can withdraw your mutual funds without penalty. If it’s an Open-End mutual fund, you can sell your shares at any time without incurring a penalty. Similarly, you can stop your SIP at any time without penalty. But you may face penalties or restrictions if you try to withdraw Fixed-Term or Closed-End Funds before their maturity date.

Conclusion:

These are the 10 Best Apps for Mutual Fund Investments in India, which give you the power to manage your investments conveniently and confidently. Whether you’re an experienced investor or just starting your financial journey, doing your research before using mutual fund apps is always advisable. Consider goals, risk tolerance, potential fees, and the terms and conditions of each app before investing.

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