Top 10 Best Apps for Mutual Fund Investments in India

Investing in mutual funds is a great way to grow your wealth over time, but choosing the right platform can sometimes feel overwhelming. With numerous options available, selecting the best mutual fund app in India is crucial to ensuring a smooth, transparent, and rewarding investment experience. Fortunately, mobile apps have made mutual fund investments more straightforward and more accessible than ever before.

Best Apps for Mutual Funds Investment

Before discussing the app, let us first resolve the common query what is mutual fund?

Mutual funds pool money from multiple investors to invest in a portfolio comprising securities from different asset classes. These schemes are managed by professional fund managers who try to offer higher returns based on market movements and trends.

Now, let’s discuss the best mutual fund app.

1. HDFC SKY

You can open free demat account or invest in mutual funds without spending a single rupee. Plus, with HDFC SKY, the account maintenance fee for the first year is free. You can also enjoy zero brokerage charges on ETFs.

You can explore a large variety of mutual funds, from small-cap funds for aggressive returns to debt-based schemes for conservative investors catering to various risk preferences.

The HDFC SKY platform is an excellent resource for new investors. It helps you pick the right scheme based on their expert research.

The platform offers a unified dashboard to monitor all your investments and track their performance.

2. Groww

Groww allows you to choose from over 5,000 mutual fund schemes. You can pick a scheme based on your risk appetite and investment horizon.

Investing in direct mutual fund schemes saves you from paying even a single rupee. This is because direct investment eliminates the involvement of a middleman who charges a commission on each transaction.

Groww provides all your investment details in one place, making decision-making and comparison easier.

3. Kotak Neo

The platform allows you to contact a dedicated helpdesk to assist you with all your concerns and queries. Not only that, but you can also access experts' curated recommendations, whether it’s about stocks or mutual funds.

The platform does not restrict you to mutual funds; you can invest in exchange-traded funds, commodities, currencies, and derivatives.

4. Kuvera

Kuvera allows you to proceed with goal-based investments. For example, when you share your financial objectives on the platform, such as purchasing a house, buying a car, or planning for retirement, the app analyses the money you need and the time frame involved. Based on this, it provides schemes that align with your requirements.

This app lets you easily manage your investments with secure and private portfolio-tracking solutions.

5. ET Money

ET Money app allows you to maximise your tax savings up to ₹78,000 by using Tax Saving Maximiser and choosing options like ELSS mutual funds, health insurance, and NPS.

You can stay organised with your mutual fund investments by managing everything, including external funds, through a simplified dashboard and PDF uploads.

You can allow integration of this app with UPI services like Google Pay, PhonePe, BHIM UPI, and Paytm for hassle-free payments.

6. 5Paisa

The 5Paisa platform offers the Robo Advisory feature, which offers personalised investment suggestions based on your financial goals.

You can access the platform's advanced charting tools, real-time streaming quotes, and technical analysis features.

When it comes to trading, you can trade across all segments with 5paisa at a fixed brokerage fee of ₹20 per trade, making it highly economical.

7. Scripbox

Scripbox offers algorithmic fund selection, which means it recommends mutual funds using a systematic, rule-based ranking system tailored to your needs.

Once you share your goals and risk appetite, Scripbox continuously monitors fund performance. In the event of any significant downside movement, it suggests a timely exit to optimise your investments.

The app features the Smart Withdraw™ Algorithm, which helps you save a significant amount on taxes by optimising your withdrawal strategy.

8. Zerodha Coin

With this app, you can invest in direct mutual funds offered by over 40 asset management companies.

This app has an effortless user interface, which makes navigation across sections and browsing various funds smoother.

The app makes tracking and monitoring your investments easy by providing detailed information on the current NAV, historical returns, fund manager details, and various risk assessment ratios.

9. Upstox

The app features a clean, intuitive design to ensure seamless navigation for all experience levels.

Upstox app allows you to instantly open a Demat and trading account with PAN, Aadhaar, and eKYC without any charges.

Apart from mutual funds, if you are using the app for trading purposes, you gain access to over 80 drawing tools and 100 charting tools. You can also place various order types, including Trailing Stop Loss orders and Good Till Triggered (GTT) orders.

10. Paytm Money

The app features the Global Search option, allowing you to explore various asset types across categories like stocks, mutual funds, and NPS, with live updates and a better watchlist.

The app applies the latest encryption technologies and two-factor authentication (2FA) to maintain the security of your data and transactions.

Paytm Money simplifies the account opening process with a straightforward, paper-free approach, allowing users to begin investing immediately.

Conclusion

When investing in mutual funds, choosing the right app can make all the difference in your investment journey. The apps mentioned above are some of the best in India, each offering unique features to cater to different investment needs. Whether you are looking for a beginner-friendly platform or a comprehensive solution, the Demat account app by HDFC SKY is here to make a difference.

Happy investing!

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