The only way to achieve financial stability in life is to invest in mutual funds. I'm not saying that; Economists say so.However, the right app is required to invest any amount of money, and with so many applications available, finding the best app to invest in mutual funds can be a hassle for users. But, that's why we are here, we may have found an app that can solve all your financial problems at once.
Awareness of direct mutual funds in India is still very low. The latest AMFI data shows that currently only 10% of retail investors rely on direct mutual funds.
Therefore, even today, people in India feel insecure about investing through Mutual Fund App, when it comes to Mutual Funds and Stocks, people are afraid of their names, that such Assets are not for us.
But when I experienced about these apps, I felt that this app is reliable and investment can be done very easily through them. So let's see, what is this Direct Mutual Fund and how you can invest through these Mutual Fund App.
What Is Direct Mutual Fund?
In Direct Mutual Fund Plan, you can invest directly in the scheme of any AMC at low cost. Direct plans are cheaper than regular plans; Because in this you save your money in case of paying commission to middlemen. Looking at both the plans, the difference in returns seems as low as 0.25% which can go up to 1%.
But over the long term, the consequences of these differences are quite large. Hence, it is clearly evident that you should always invest in direct schemes of mutual funds. According To AMFI
Direct vs Regular Mutual Fund Plans: From the beginning of the year 2013, SEBI made it mandatory for all mutual fund houses to have a direct plan with two variants of each scheme i.e. regular plan.
Those who invest directly in mutual funds without the help of intermediaries can save on commission cost. Needless to say, this can have a significant impact on the rate of return from mutual fund investments in the long term.
Best Apps To Invest In Mutual Funds
1. Groww – Mutual Fund App
Groww is another app that you can use for investment purposes. However, I would suggest you use it if you’re new to the mutual fund’s investment scheme. This easy to use app has minimalistic features that let you decide and do your financial planning without any hassle. It has a single dashboard that lets you track all the investments, annual returns etc. All you have to do to get yourself registered on the app is get an account verification via KYC, and you’re good to go.
In terms of security, the application has 128-bit SSL encryption that keeps all your financial details secure. This easy to use the app can be considered the best app to invest in mutual funds and start SIP.
Download the app:
2. ETMONEY – Mutual Fund App
ETMONEY is a part of Times Internet Limited group, founded by a group of passionate Entrepreneurs, IITians and Designers with deep expertise in technology, mobile & financial services. This app is a one-stop destination for all your financial needs. Investing in top Mutual Funds is easier and free of cost with this app.
Along with direct mutual fund investment, you can get quick loans, buy insurance policies, track your expenditures, calculate tax and SIP. With ETMONEY App, you can read blogs & watch videos to become a better investor.
Download the app:
3. PayTM Money – Mutual Funds App
Paytm Money, provided by the Paytm Group, is turning out to be one of the most trusted platforms in India, which offers around 1% higher returns by investing in Mutual Fund Schemes of Direct Plans with no commissions or any other charges on the trading of direct mutual fund plans.
If you are already a registered member of Paytm app, you can register on Paytm Money app with your existing mobile number. In order to start investing in mutual funds provided by Paytm Money app, you have to register your KYC within the app.
Download the app:
4. Kuvera – Mutual Fund App
Kuvera is a direct mutual fund investment app founded in 2016 by two former investment bankers, Gaurav Rastogi and Neelabh Sanyal, and IIT-D alumnus Mayank Sharma. Kuvera app is India’s first commission-free investing platform for individuals.
It has a simple, clean and user-friendly interface that helps you explore its features with ease. It also helps you in comprehensive goal planning, tax savings, smart rebalancing, funds selection, and return analytics.
Sign up process on Kuvera is easy and hassle-free. You just have to proceed with PAN card details in order to verify your KYC with Kuvera.
Download the app:
5. Coin by Zerodha
Zerodha is a well-known investment platform and probably the simplest app that can easily let you invest in mutual funds. In addition, the platform has a Coin application that is perfectly compatible if you already have a Zerodha account. So log in to your account on the app, and that’s it. You’re good to go.
With this app, you can create your SIP anytime. In addition, it also lets you modify the SIP whenever you need to change any information. You can view various financial schemes, ELSS funds, Tax filing instructions. The Coin By Zerodha app has a fined tuned User interface in terms of app features. It is easy to use; most importantly, you can easily navigate between financial schemes and understand them with the dedicated investment calculator. With these features on board, Coin by Zerodha might be the
Download the app:
Here are some other mutual fund apps you may consider in 2022:
- INDmoney
- InvesTap – SBI Mutual Fund
- Fund Easy
- Kotak Mutual Fund App
- UTI Mutual Fund App
- HDFC MFOnline Investors App
- CashRich
- AssetPlus
- Investica
- Angel BEE
- MyWay
- Scripbox
Conclusion:
From the list of apps provided in this article, you can understand that there is a good opportunity for us to invest directly into mutual funds online. Thanks to the technology that made the investment simple and hassle-free.
These sites have become a blessing for investors as well as people who want to start their investment journey.