7 Best Mutual Fund Apps In India [2023]

We all know that investing in mutual funds is one of the most efficient ways to grow our financial assets over time. And thanks to some of India’s best mutual fund apps, tracking, managing, and investing in various mutual fund schemes is a lot faster and easier these days. Furthermore, you can perform all of these activities in just one app.

Whether you are interested in investing in direct mutual funds or regular funds, there are numerous mobile apps for these mutual fund investments in the Google Play store that provide the benefit of instant buying and selling. Further, if you intend to invest directly through these apps, they can also assist you in saving an extra commission of 1% to 1.5%, which is a massive advantage.

7 Best Mutual Fund Apps in India

1). Groww

In terms of stability and usability, the Groww app is considered India’s best app for mutual fund investments. If you are new to investing in mutual funds, this is the best mutual fund app you can select. It not only makes investing incredibly simpler, but there are also a tonne of valuable videos and blog posts available that can help you choose the best mutual fund investments.

Apart from the mutual funds, you can also select to invest in the stock through the Groww app. Due to its zero-charge model, this best mutual fund app in India is rapidly becoming popular in the stock investment landscape.

Features:

• Secure transaction via 128-bit SSL encryption
• One-step e-KYC
• SIP calculator
• good option for newcomers
• A user-friendly interface for quick and simple investment
• single dashboard for tracking the investments, annual returns, and total returns

Pros

• Zero account opening fees
• Online IPO applications
• Zero Demat AMC Fees
• Instant paperless account opening
• Trading in SME shares is available.

Cons

• No call-and-trade services
• No branch support
• No margin trading facility
• SME IPOs are not available.
• No margin against shares
• Don’t provide NRI Trading.
• Do not offer recommendations, research reports, or stock tips.
• Advanced order types such as GTT, BO, CO, and AMO aren’t available.

2). Coin by Zerodha

The Coin App from Zerodha is the best mutual fund app for most Indian investors. It is the primary choice for anyone who wants to invest in mutual funds because of its great level of functionality and convenience.

You can be sure of a high degree of devotion and user-centricity because it is supported by Zerodha, one of India’s leading stock brokers. If you already have a Zerodha account, using the Coin app would make it simpler to invest directly in mutual funds.

The Coin by Zerodha app allows investors to make investments in about 40 fund houses’ mutual fund schemes without commissions.

The best mutual fund app in India is Zerodha, which has a huge customer base, which explains why it is considered one of the finest mutual fund apps. To start investing in mutual funds via SIP, all you need is a Zerodha account.

Features:

• The simple portfolio management interface
• hassle-free SIP management
• option to invest in ELSS funds to reduce taxes
• UPI-based purchasing option
• an expensive range of mutual funds to choose from
• You can save 10 to 1.5% on direct SIP with this mutual fund app in India.

Pros

• Purchase funds from AMCs directly.
• The Coin mobile app is available on both iOS and Android.
• purchase and/or redeem mutual fund units at a specified NAV.
• no cost for mutual fund redemption
• useful for newcomers to advanced-level traders.
• best platform with a huge selection of offers available from top AMCs.

Cons

• Zerodha doesn’t provide mutual fund research and advisory services.

3). Upstox Mutual Fund

It is a Mumbai-based budget stockbroker. It offers traders in the Indian stock market a quick, reliable, and simple-to-use trading platform.

It is RKSV Securities’ online investment brand. RKSV is a Mumbai-based, SEBI-registered financial services company that was founded in 2009.

Upstox is a low-cost trading platform. Customers are offered free equity delivery (cash and carry) trading. There is no brokerage charge for orders placed in this sector. Upstox charges a fixed rate of Rs 20 per trade for all additional trading sectors across exchanges.

Features:

• Place buy and sell orders while moving.
• create customised watchlists
• Get price alerts on this set of shares.
• Access to real-time market feeds
• Access to various segments, such as NSE cash, futures and options, and currencies scrips
• Universal search tool to locate desired stocks and contracts

Pros

• offers more than 2,000 mutual funds to modify the MF portfolio.
• offers an integrated platform to invest across 28 fund houses.
• Filters to instantly find the best MF as per your needs
• It is easy and simple to use the Upstox MF platform.
• Check the results, performance, and mutual fund details of each scheme.

Cons

• does not offer a mobile or desktop-based mutual fund investment platform.
• only provides regular mutual funds, where investors have to pay commission.
• does not offer recommendations for mutual funds or investment tips.

4). Paytm Money Mutual Funds App

Paytm Money, offered by the Paytm group, is becoming one of India’s most trusted platforms, offering up to 1% higher returns by investing in direct plans of mutual fund schemes with no commissions or any fees on the buying and selling of direct mutual fund plans.

It offers the user many features, including data privacy and protection, fully transparent tracking, switching from regular to direct plans, managing, tracking, and automating SIP investments, etc.

Features:

• Instant withdrawal of up to $50,000
• No extra charges, commissions, or fees
• Invest in schemes starting at $100.
• Explore schemes rated by CRISIL, Value Research, and Morningstar.

Pros

• Direct MF platform that helps you earn an extra 1% return.
• Online IPO applications
• robust and simple trading platforms
• Mutual Fund Investment Advisory Services
• quick digital account opening.

Cons

• No branch support
• There is no margin funding facility available.
• Do not offer NRI trading accounts.
• Advanced order types, including GTC (Good Till Cancelled), CO, BO, and basket, are not available.
• Currency and commodity trading are not available.
• The facility for margin against shares is not available.
• Unlimited monthly trading plans aren’t available.

5). ETMoney

ETMONEY was founded by a group of passionate entrepreneurs, IITians, and designers with strong knowledge of technology, mobile, and financial services. Associated with a famous brand of economic times, this mutual fund app provides a one-stop destination for everything related to investment and helps in tracking and managing expenses using an expense manager. Invest in mutual funds using a SIP or lump sum; save tax with SIPs in ELSS mutual funds; etc.

Features:

• Invest in direct mutual funds (including ELSS).
• Track external mutual funds
• SmartDeposit liquid fund
• Check your credit score and apply for credit cards and loans.
• Built-in expense manager and bill reminders
• insurance (health, term life, auto), NPS, and fixed deposits.

Pros

• Know your investor profile
• EasyPay for one-tap payments
• detailed information to research and choose mutual funds
• Edit or skip the SIP amount and date.

Cons

• No 24-hour customer support

6). Kuvera

You can also utilise Kuvera, a great mutual fund investment app. You can establish an account on Kuvera in just a few minutes, and it has a unique and simple user interface. You can manage joint family accounts, showcase financial portfolios, and keep track of your investments.

Additionally, the app offers a simple yet informative dashboard where you can view details about all policies, financial plans, and SIP information. Also, it suggests reputable mutual funds that can assist you in achieving your goal.

Features:

• Invest in direct mutual funds.
• Track external mutual funds, stocks, gold, and EPF in one place.
• US and Indian stocks, fixed deposits, and gold
• Fund recommendations based on your goal and profile
• SaveSmart liquid fund
• Manage and import your family’s accounts.

Pros

• Skip SIP or change the amount and date.
• Goal-based investment planning
• Save your LTCG tax with Tax Harvesting.
• Save switching charges with Trade Smart.

Cons

• No fingerprint unlock
• No 24/7 customer support

7). myCAMS

MyCAMS is a single gateway to investing in several mutual fund schemes. The app makes it easier, faster, and offers more intelligent ways to transact in direct funds.

MyCAMS has a variety of features, including mobile PIN and pattern login, one view of your MF portfolio, opening up new folios, purchasing, redeeming, switching, setting up SIP, and more. It also assists in scheduling the transaction option, which enables investors to set up future mutual fund transactions, which makes it one of the best mutual fund apps.

Features:

• Zero brokerage and no extra charges
• Fast support on loans and insurance plans
• Simple mutual fund investment procedure
• Investment in the ELSS tax-saving plan
• Option to invest in mutual funds via systematic investment plans (SIP) and lump-sum investment options

Pros

• Two-factor authentication facility
• You can invest across 16 different mutual funds offered by AMC on this platform.
• completely online and paperless investment platform.
• To view your portfolio, mycams’ provides a single platform.
• variety of features, including digiSIP, digiNFO, watch lists, etc.

Cons

• Customer support is average.

Conclusion

These were some of the best direct mutual fund apps available in India, with their features, pros, and cons. Anyway, try these all and stick with the one that appeals to you the most. Select your mutual funds after doing thorough research, and avoid investing in too many of them.

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