Mutual funds sahi hai. But which mutual funds apps should you use? Let’s find out.
Mutual funds are a great way to increase and grow your wealth. So today, let’s take a look at which are the best mutual fund apps in India that you can use, to easily invest and manage your mutual funds.
So, in my opinion, a good mutual fund app should have the following features.
- It should allow me to invest in regular and direct funds.
- It should be free to download and use.
- It should allow SIPs and also lumpsum fund buying options.
- It should be easy to understand and navigate.
- It should not have any hidden costs for my transactions.
- It should allow easy and quick online mutual fund transactions.
- It should have timely and regular market alerts and news updates.
- It should show my investment portfolio and enable me to track performance.
- Should allow me to set my financial goals.
- Recommend me good mutual funds to invest in with their history and performance.
So, with these features in mind, here are my favorite five best mutual fund apps in India.
Kuvera (https://kuvera.in) is a startup founded by experienced ex-investment bankers. Their experience is well seen in the way the app has been made. Through Kuvera, investors can invest in direct mutual funds at zero commission – no extra charges. That’s their highlight.
Kuvera is a startup founded by experienced ex-investment bankers. Their experience is well seen in the way the app has been made. Through Kuvera, investors can invest in direct mutual funds at zero commission – no extra charges. That’s their highlight.
They offer a wide range of mutual funds with direct plans from more than 36 mutual fund houses. Kuvera also lets you buy digital gold at no extra cost. It’s super easy to use even for beginners and no wonder it is one of the best mutual fund mobile app available online in India today.
I use it personally and am very happy with it.
The only negative about Kuvera is that if you don’t have your KYC done, they won’t accept first-time investors. So you have to get your KYC done with a third-party app before start using Kuvera. Also, their customer support is kind of just okay. Hope they are working on it.
Also, you have to sign up with a mandate to make payments happen from your bank account and this can take some time to set up.
My second favorite choice is Groww (https://groww.in). It’s very much similar to Kuvera, actually a bit more fun and easy to use. It looks like they are targeting young Millenials who are investing in mutual funds for the very first time.
It’s very much similar to Kuvera, actually a bit more fun and easy to use. It looks like they are targeting young Millenials who are investing in mutual funds for the very first time.
For the same reason, it’s super easy to sign up and verify your KYC on Groww. I got it done in under one day or so, unlike Kuvera.
You have access to a lot of funds just like in Kuvera and you have more options to buy, other than SIPs. You can even buy funds with the UPI option, which is easier than in Kuvera or other apps.
Overall, Groww is a much simpler and easy to use app but the negatives are that the platform itself is buggy and has been reported to have small glitches.
Also, their customer support, although quick isn’t very admired. I had an issue regarding a canceled transaction with them and it took more than a week to sort. Actually, I don’t even know if it’s sorted out yet.
I hear that they are also getting into stocks, which I’m looking forward to. Oh! And it doesn’t let you buy digital gold like Kuvera.
To be honest, I haven’t tried Piggy (https://piggy.co.in) in-depth and I haven’t come across folks who are ardent fans of it.
It is a YCombinator-backed startup and uses AI for fund recommendations and planning.
Here too, you can buy direct mutual funds at zero extra fees, just like Kuvera and Groww but it also provides an additional facility of EPF tracker. Once you to link your EPF account, you can view your EPF balance and view projected retirement EPF balance.
The interface of the app is easy but perhaps less fun to use than Groww and Kuvera. Featurewise, it is probably exactly the same as Groww and Kuvera. Yes, it lets you buy digital gold also.
If you’ve used Piggy please let me know in comments how your experience was.
Everybody knows PayTM (https://paytmmoney.com) right, the digital payments app that took India by storm? Well, they have a mutual fund investment option too.
Good things are that their app is super user-friendly and anyone who has used the PayTM app won’t have any difficulty using it. Their choice of funds and suggestions are goal-oriented and very useful.
Now, for anyone who has used PayTM knows already about their little glitches and errors. So, you can expect those once a while. But otherwise, it’s a great mutual fund investment tool. Just like Kuvera, no charges whatsoever. You can buy digital gold and customer support is well… okay okay.
Even then, I will prefer Kuvera or Groww just because they are focused on mutual funds investment alone, unlike PayTM, which as you might already know, has a lot of other stuff going on and sometimes falls back in the experience.
Now, there are some already existing, older, mention-worthy apps as well, but I don’t think that they are amazing when compared to Kuvera or Groww. I’ll list them on the video titles here, anyways.
So, which is the best mutual fund app in India?
New-generation apps like Kuvera and Groww have set a new benchmark in mutual fund investing in India by offering an amazing experience for the user and I hope there will be more challenging and fun new apps coming out, that will offer us users, newer experiences.
One thing I found interesting is that all the apps that boast of “zero-fees” or “no-brokerages” haven’t figured out how to make money. I mean, without commissions how do they ethically make money? Perhaps they will find something in the long run, but as of now… it looks “interesting”. I hope the money and the personal financial data you put in them are safe.
So guys, thanks for reading. I personally think that Kuvera is the best mutual fund app in India.
If you disagree or have an opinion on something I said, please let me know in the comments.