Investing in mutual funds is one of the easiest ways to make money in stock markets. A mutual fund is an investment instrument where a fund manager manages your money. It is collected from various investors and this accumulated investment is invested across different assets like stocks, debt, gold, etc. One should choose a mutual fund scheme as per their risk profile and which suits them the best. However, investing in mutual funds requires the right app. With numerous choices, selecting the best mutual fund app can be a daunting task.
So, in this article, we will discuss the best mutual fund apps in India in 2023 with their features and uses.
7 Best Mutual Fund Apps in India with Their Unique Features
|S. No||Mutual Fund Apps||Unique Features||Ratings|
|1.||Groww||Simple and attractive user interface||4.7/5|
|2.||Zerodha Coin||Compatible and portfolio tracking||4.8/5|
|3.||ICICI Direct All-in-1||Customized expert recommendations||4.3/5|
|4.||Paytm Money||The easy registration process and detailed fund analysis||4.4/5|
|5.||ET Money||ET Money Genius for personalized recommendations||4.7/5|
|6.||Kuvera||Focus on goal-based investing||4.6/5|
|7.||myCAMS Mutual Funds App||Security features with quick transactions||4.4/5|
Best Mutual Fund Apps- Groww App
Groww App is one of the most preferred options for the majority of investors. It is considered the best app for SIP and is known for its simple and intuitive platform. They started their business as a mutual fund distribution platform and slowly began offering other investment products as well such as stocks, digital gold, IPOs, etc. Groww has a supportive customer care team for all your queries.
Top features of Groww App
- Commission-free mutual fund investment for their customers.
- No charges on account opening and annual maintenance.
- Simple and clean user interface.
- Provides informational blogs and videos to increase financial literacy.
- Hassle-free account opening process.
- Offers a single dashboard to monitor and track all your investments in one place.
- Considered the best app for mutual funds largely among millennials.
- They also have a Groww brokerage charges calculator to calculate your transaction charges, GST, STT, etc.
Android Rating: 4.3/ 5
iOS Rating: 4.4/5
App downloads: 10M+
Best Mutual Fund Apps – Zerodha Coin
Coin Zerodha is another best app for mutual funds, where you can invest in direct mutual funds without any commission or brokerage. It is easily compatible if you have an existing account in Zerodha. It is equipped with some unique features like simple navigation, consolidated statements, a paperless account opening process, and much more. Coin by Zerodha, with its relatively simple user interface, is ideal for beginners and is considered one of the best mutual fund apps in India.
Top features of The Coin Zerodha App
- Option to invest in corporate bonds, sovereign gold bonds (SGBs), ETFs, NPS, etc.
- Invest in direct mutual funds through UPI.
- Various categories of mutual funds to invest in like equity, debt, and hybrid.
- Known as the best app for SIP among millennials.
- Simple online portfolio management and monitoring services.
- You can easily start, modify, or stop your SIPs anytime.
- Option of automatic fund transfer for your SIP installments.
- You can easily download your tax P&L reports from the app.
- Over 41 Asset Management Companies (AMCs) and 2200 funds are available.
- Increase your SIP by a fixed percentage with the Step-up-SIP feature.
Android Rating: 4.2/5
iOS Rating: 3.3/5
App downloads: 10L+
Best Mutual Fund Apps – ICICI Direct All-in-1 App
With over 8 million subscribers, ICICIdirect is one of the major mutual fund providers. The ICICI Direct Mobile App has several features and the app is incredibly user-friendly and usable. It is the best app for mutual fund investments and also for other segments like stocks, IPOs, ETFs, etc. Also, it makes sure to make its clients’ trading experiences as pleasant as possible.
Top features of ICICI Direct All-in-One App-
- Invest in mutual fund schemes offered by 39 leading Asset Management Companies (AMCs).
- Invest confidently in the top Mutual Funds identified by their award-winning research team.
- Option to invest in Large Cap, Mid Cap, Small Cap, ELSS, and Gold Funds categories.
- For extra security, biometric login, mobile number, and access code login are available.
- Get a variety of payment options for your investments – Mandate, Linked Bank Account, Net Banking.
- Monitor, track, and transact from anywhere in just a few taps.
- Invest wisely with ready-to-invest baskets of mutual funds.
Android Rating: 4.4/5
iOS Rating: 4.7/5
App downloads: 100K+
Best Mutual Fund Apps- Paytm Money
Paytm Money, a product of the Paytm group, is quickly developing into one of the most trusted platforms in India. When searching for the best mutual fund app, many recommend Paytm Money as the best choice. This allows you to invest in stocks, NPS, and other financial instruments. They offer you a direct investment option through which you can earn 1% higher returns than regular funds.
Top features of Paytm Money App-
- Paytm Money is the best app for SIP and lumpsum investments.
- They also provide different investment idea categories like Better than fixed deposit, investing in all sizes of companies, index funds, etc.
- They also offer best return funds, top-rated funds, tax saver funds, and super saver deposits.
- There are no hidden charges, commissions, or fees when buying or selling mutual funds.
- Paperless account opening process and KYC within 30 minutes.
- Get portfolio insights and statements for free.
- Completely transparent tracking and data privacy and protection.
- Option to switch between regular and direct mutual funds.
Android Rating: 3.8/5
iOS Rating: 4.0/5
App downloads: 10M+
Best Mutual Fund Apps- ETMoney
It is associated with the Economic Times and is the best app for mutual fund investments. It’s an award-winning app with numerous investment opportunities. Whether you’re new to investing or have plenty of experience, this app is suitable for everyone. There’s no shortage of tools and services at ET Money aimed to help you take charge of your finances. You can also invest in stocks, fixed deposits, NPS, and get insurance.
Top features of The ETMoney App
- Commission-free mutual funds.
- Mutual fund suggestions as per your risk profile, investment goals, and time frame.
- You may quickly upload your previous investment statements to the ETMoney app and track them all in one location.
- ET Money Genius is another great feature that gives you a personalized investment plan as per your risk profile and personality.
- Through ET Money Genius, you can have unlimited access to your portfolios, and do unlimited rebalancing and investments.
- They also provide you with educational videos and blogs through ET Money Learn.
- The Smart Deposit feature in the app helps you to earn higher returns than your savings account.
- Various tools are offered to make your investment easier, like, Portfolio health, tax savings maximizer, credit score, and investor personality.
Android Rating: 4.5/5
iOS Rating: 4.4/5
App downloads: 1Cr+
Best Mutual Fund Apps- Kuvera App
Kuvera is another best app for mutual funds which comes with a unique feature of goal-based investing. This means it assists you in planning your investments based on specific financial goals such as tax savings, wealth creation, financial stability, and more. They do not charge any commission or brokerage for the mutual fund investment and is completely free to use. They also have a single dashboard to track all your investments in one place.
Top features of Kuvera App-
- It includes a great toggle switch to switch between the Growth and Dividend mutual fund categories.
- They also offer fixed deposits, digital gold, health insurance, US stock investments, etc.
- Personalized recommendations to investors as per their risk appetite and financial goals.
- Simple and digital account opening process.
- Various categories like tax saver options, top-rated funds, top searched funds, etc.
- Family Account feature- which allows you to manage someone else’s investments from your account.
- Offers different financial calculators like SIP calculator, FD calculator, lumpsum calculator, STP and SWP calculator, etc.
Android Rating: 4.2/5
iOS Rating: 3.5/5
App downloads: 1M+
Best Mutual Fund Apps- myCAMS Mutual Funds App
myCAMS is one of the simplest apps with various unique features, which ultimately makes it the best mutual fund app in India. It is the largest provider in the mutual fund industry which offers goal-based investing, portfolio tracking, and various security features. As of June 2023, CAMS served 69% of the average assets under management.
Top features of myCAMS Mutual Funds App-
- PIN and pattern login for security reasons.
- Easily manage your mutual fund portfolio from a single location.
- You may quickly set up your SIP, buy, sell, switch, and do whatever you want in a smooth manner.
- Account statements are available for easy record-keeping.
- There is no brokerage and no hidden fees.
- Option to invest in debt, equity, and hybrid funds.
- From a single dashboard, digitalize and manage your life, health, and other insurance plans.
- The MF investment portal allows institutional investors to see and transact with 17 participating Funds.
Android Rating: 3.9/5
iOS Rating: 3.3/5
App downloads: 50L+
With the availability of mutual fund apps, investors can invest in mutual funds at the touch of a keypad on their phones. It is now very convenient to invest in the best mutual funds through the above-mentioned applications. When choosing a mutual fund app, look for various features, advantages, and charges. To choose the best app for mutual fund investment, you should consider the transaction safety as well as ease of use.
FAQs – Best Mutual Fund App
1. Which app is best for investing in mutual funds?
Ans: Some of the best apps for investing in mutual fund investing are Groww, Zerodha Coin, and ETMoney.
2. Which is the safest app for mutual funds?
Ans: Here are the best mutual fund apps that are safe to use- Zerodha Coin, ICICI Direct All-in-1, Paytm Money, and Groww.
3. Which app is best to start SIP?
Ans: Popular apps such as Coin, Groww, Paytm Money, etc., come highly recommended if you can do some research and choose good funds.
4. Is it safe to invest through mutual fund apps?
Ans: Yes, mutual fund apps are regulated by SEBI and thus safe to invest in.
5. Which type of mutual fund is best?
Ans: Equity funds are the best mutual fund to invest in for the long-term