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Invest Smarter: Choosing the Best Mutual Fund App in 2024

When is it a bad thing to be spoiled for choice?


The next time you feel like you are drowning in decisions when it comes to financial planning – and more accurately – picking the best mutual fund app – remember that having so many choices at your fingertips is an amazing thing. 

Having focused on that crucial and necessary reminder, we will acknowledge that having so many choices can sometimes be a bit overwhelming. 

So we thought we’d help out a bit and create a checklist of sorts for you to keep in mind when choosing the best mutual fund app, appropriately suited for you and your overarching financial plans. Bear in mind that the aim is to invest smarter!

Here is our checklist for you – 

Is it well-reputed? – Get your Google goggles on and start researching which apps are being perceived as the best mutual fund apps in the Indian market. 

While this factor alone is obviously not enough, it is a good starting point – IF – you are referring to the right sources for looking up the best mutual fund app. A validated source will give you: 

1.   A reliable list of mutual fund apps that are performing well,

2.   The top 5 of any ‘best mutual fund app’ listicle will give you a solid idea of which mutual fund apps are worth taking a look at, and

3.   Will also offer you some basic information about what kind of investment plans are available on each of them. 

Is it secure? – It is not easy for each and every individual to know what does and doesn’t constitute a secure mutual fund app. 

And at the same time, you know you can’t deem any of these apps the best mutual fund app unless you know for sure that it is secure! So, you have to rely on certifications and registrations. 

If the app you’re looking into truly is the best mutual fund app for you, it will come with a receipt! Apps that aren’t registered with any regulatory body (SEBI, RBI), should immediately be taken out of the running for the best mutual fund app race! 

Is it making my life easier? – There are way too many options out there for you to ever find yourself stuck with poorly created mutual fund apps that are tiresome to navigate. 

The best mutual fund app needs to be like a best friend – supportive of your dreams, brutally honest about your shortcomings, and you need to see it every day! So, it is good to make sure you pick an investing app that has a pleasant user interface and is easy to use. 

Check whether the best mutual fund app you have selected has informational resources integrated into a part of the mutual fund app, and unique features like Scripbox’s Dream Planner, FundsIndia’s Alert SIPs, and even Deciml’s Sprint, that can help a lot with overall financial planning and routine investing. 

Is it enabling diversification? – Ultimately you want to be able to create a diversified portfolio for yourself. 

So, to that end, try to look for an investment app that allows you to invest in mutual funds of all types (debt, equity, and hybrid) while offering you the choice to make other investments as well. 

The best mutual fund app for you and your financial future is one that is giving you the chance to truly understand investing and enables you to branch into creating a diversified portfolio that allows some risk mitigation! 

Is it responsive to my queries? – A lot of investing apps and portals will offer good features and promise unique benefits, but will fall short in the customer service and support department! 

This item of this checklist is particularly important for one kind of investor – the newbie. Even if you do in fact end up with the best mutual fund app there is, in the beginning, there are likely to be doubts about processes, or you might have questions about the particulars of a selected mutual fund scheme. 

This is where the importance of customer service kicks in. Good customer service must go hand in hand with any investment app out there. 

If you are able to find an investment app that checks off each of these questions on your checklist you can be sure you’ve selected the best mutual fund app for yourself and are well on your way to investing smarter. 

Most of the popular mutual fund apps will mark off everything on your checklist. So a decision might come down to some of the unique offerings of the best mutual fund apps in the market. 

So, while you mull over this checklist, take a look at the mutual fund apps that are currently making it to the best mutual fund apps list in the market today, and what some of their unique user benefits are – 

1.   Paytm Money – The clean and seamless interface of Paytm Money and its wide range of mutual fund schemes contribute to Paytm Money being one of the best mutual fund apps in India. As an added benefit, Paytm Money offers 1% higher returns if you are investing in a direct mutual funds plan! 

2.   ET Money – ET Money is one of the best mutual fund apps out there today because of its consolidated one-stop-shop approach to investing services, as well as its unique benefits like the ET Money Smart Deposit, which allows users to earn higher interest rates on their idle cash. 

3.       DecimlDeciml is the right fit for novice investors who want to get started with their investment journey with as little as ₹1. Features like Wise Up (a trove of insights!) and Sprint (our dial that shows your run-rate!) make the whole experience easy and fun while instilling discipline in young investors. 

4.   Scripbox – In addition to allowing investors to diversify their investments, 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. If that doesn’t say ‘best mutual fund app’ – what does? 

5.   Kuvera – This app, in addition to the usual investing app services, also offers a free investment advisory service. So, if you are an investor looking for customized personal service, then you will definitely deem this the best mutual fund app for yourself. Additionally, its Risk Profile Management can be beneficial to the high rollers in the investment space. 

And there you have your checklist and a little help for point one on that checklist! We’re happy to be able to help you invest smarter. 

Tell us in the comments – what are some of the best mutual fund apps you have used? This blog is optimize by Aarif Habeeb.

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