In India, if you hear someone mention investing, you can be sure that you’ll hear someone else mention mutual funds.
The two seem almost synonymous with each other – today. But, there was a time when investing in itself was a tedious process, let alone investing in mutual funds.
Think hours in a queue, limited knowledge of the subject, and piles of paperwork! Not very nice, is it? Now, however, investing in mutual funds is as easy as Googling ‘the best app to invest in mutual funds’, picking one that appeals to you, and you’re a few clicks away from investing.
With the onset of financial digitization, mutual fund investing apps are the future of fintech, and while it can be difficult to identify the best app for mutual fund investment, bear in mind that all these apps ultimately serve a similar purpose – making investments in mutual funds an easy and hassle-free process for investors.
Of course, much like anything in the fintech space – there are a lot of options to choose from before deciding what the best mutual fund app in India is (and whether or not it is suited to your needs!), so we thought we’d help out.
Here is a list of some of the top mutual fund app in India in 2024 that came up in our research –
Groww offers a wide range of mutual fund schemes across different categories, including equity, debt, and hybrid funds – this app has a little something for every kind of investor.
This app, in addition to offering goal-based investing, also equips users with portfolio tracking features, making it a great choice for both beginners and experienced investors.
Best apps to invest in mutual funds Qualifier – Groww offers 2-in-1 account services that allow investors to open a Trading account as well as a Demat account.
2. Zerodha Coin – Zerodha Coin is a mutual fund investment app that is part of the Zerodha brokerage platform.
In addition to offering the typical range of mutual funds (equity, debt, and hybrid), Zerodha Coin also allows users to invest in direct plans of mutual fund schemes, which can result in significant cost savings over the long term.
Equipped with portfolio tracking (to invest on the go), Zerodha Coin is a popular app in any list of best app to buy mutual funds out there today.
Best Mutual Fund App Qualifier – This app allows all your mutual funds, stocks, currencies, bonds, and more, available in your Demat account which is completely accessible in one place.
3. Deciml – New kid on the block! But luckily for young investors out there, Deciml is a great way to put your foot through the door when it comes to investing.
Facilitating micro-investing through Daily Deposits and Round-Up Investing, Deciml is the perfect app for investors (especially the newbies!) who want to make routine investments without these investments interfering with their routine.
Features like Sprint (allowing users to track their investment projections) and Wise Up (allowing investors to learn about the world of investing and fintech) are useful tools on the Deciml App – which is poised to offer mutual fund investing as an option to its users as well.
We are putting Deciml on this list of best mutual fund apps in India – because that is exactly where it’s headed!
Best Mutual Fund App Qualifier – This app provides a micro-investing platform that is useful for young investors to start investing regularly, and on the go. It is a gateway into the world of diligent investing.
4. Paytm Money – Paytm Money is a well-known financial services app that offers a wide range of investment options, one of which is mutual funds.
The clean and seamless interface of Paytm Money clubbed with a wide range of mutual fund schemes, makes it a staple in the list of best mutual fund apps in India.
Paytm Money also offers a range of tools and features to help investors make informed investment decisions. These include goal-based investing, portfolio tracking, and detailed fund analysis – that aid holistic financial management.
Best Mutual Fund App Qualifier – Paytm Money offers 1% higher returns if you are investing in a direct mutual funds plan!
5. Kuvera – Kuvera is a popular name in the list of the best mutual fund apps in India because, beyond the basics – user-friendly interface, a wide range of investment options, goal-based investing, and portfolio tracking feature – Kuvera also offers a free investment advisory service, making it a great choice for investors looking for personalized investment advice.
The further you delve into the world of investing, the more thankful you will be for mutual fund investing apps which also offer information and support to their users.
Best Mutual Fund App Qualifier – Kuvera’s Risk Profiling feature can be particularly useful for investors who are making bigger moves in the market.
6. ET Money – ET Money, in addition to offering a seamless interface, an array of investment options, goal-based investing, and a portfolio tracking feature, offers investors a unique feature called SmartDeposit.
ET Money Smart Deposit allows users to earn higher interest rates on their idle cash – offering investors the chance to enjoy paperless investing with higher returns, zero lock-in periods, and instant withdrawals.
The fact that the ET Money app allows investors to trade on the go while also maximizing their efforts makes it one of the best mutual fund apps in India today.
Best Mutual Fund App Qualifier – The ET Money app allows users to switch their past investments made in regular plans to zero commission direct plans.
7. MyCAMS – We’ve gone over the routine bells and whistles a few times now. So you know that MyCAMS offers a number of investment options, portfolio tracking, and goal-based investing.
But MyCAMS pops up as a part of the best mutual fund apps in India because it allows investors to diversify their portfolio across 17 mutual funds in debt, equity, and hybrid options, in addition to equipping users with certain other tools that allow them to redeem, switch or open new portfolios, subscribe to New Fund Offers (NFO) and Systematic Investment Plans (SIP) with their digiSIP feature.
Best Mutual Fund App Qualifier – The app offers users the option to apply for loans against their mutual fund investments.
8. Scripbox – Scripbox offers its users a unique feature called Wealth First. Wealth First, which allows users to invest in a portfolio of mutual funds based on their risk profile and investment goals, is one of the main reasons that Scripbox is on most ‘best mutual fund apps’ lists you’ll find out there.
It goes without saying that the app optimizes the user experience by acting as a one-stop shop for investing in a number of different mutual fund options while also managing their financial portfolios.
Best Mutual Fund App Qualifier – The Scripbox Dream Planner feature allows you to choose milestones like weddings, vacations, loan repayments, and asset purchases – you can invest and know exactly the goal you are investing in.
9. FundsIndia – FundsIndia is a mutual fund investment app that offers a wide range of mutual fund schemes across different categories, including equity, debt, and hybrid funds.
The app comes with features like the SIP Calculator (for charting your investment trajectory), Research & Insights (providing you with a source of information), and Robo Advisory (allowing you to get investment recommendations based on your risk profile and investment goals.)
The generally holistic services provided by this app make it one of the best mutual fund apps for you in 2023.
Best Mutual Fund App Qualifier – This app’s unique SIP features like Alert SIPs, Smart Solutions, and Portfolio SIPs make goal-based investing a completely seamless experience for any investor.
10. PaisaBazaar – PaisaBazaar helps users invest in an array of mutual fund options along with other investment options as well.
This app’s Expert Recommendations feature is extremely useful and proves to be an insightful tool for investors, regardless of where they are in their investment journey.
PaisaBazaar’s end-to-end catering for investors, while being user-friendly and offering portfolio tracking services, makes it a notable choice when selecting the best mutual fund app for your investment needs.
Best Mutual Fund App Qualifier – It has every kind of calculator you might need to understand your investments and returns. SIP calculator, EMI calculator, GST calculator, PPF calculator, FD calculator – it has it all!
In conclusion, these are the 10 best mutual fund apps for investors in India in 2023. So, if you are an investor looking to make investing a bit easier and more efficient, consider one of these 10 options and start investing with confidence today.
While there is a lot of proverbial fish in the proverbial sea, the key to unlocking the full potential of your financial portfolio is to thoroughly investigate all your options, determine your goals, and start investing now!