Mutual funds have become a popular investment option in India over the past few years. With the rise in popularity of mutual funds, there has been a subsequent increase in the number of Android apps that claim to provide investors with a seamless investing experience. In this regard, finding the best app for mutual funds in India can be a daunting task. This article aims to provide a detailed analysis of the features and functionalities of the top Android apps for mutual funds in India, to help investors make an informed decision. The analysis will consider factors such as ease of use, investment options, returns, and fees, among others.
We have compiled a list of 5 Best Android App For Mutual Funds India for your consideration, which have undergone rigorous testing and evaluation by our team of experts.
5 Best Android App For Mutual Funds India
1. Coin by Zerodha
Zerodha provides users with commission-free direct mutual fund schemes from 40 fund houses. With over 2.5 lakh investors who have invested over 4500 crores, the platform allows for flexibility in creating, pausing, and modifying SIPs anytime, instantly and hassle-free.
Users can easily search and discover funds through easy-to-navigate themes, fund categories, and scheme details. The platform also provides detailed information on the weights of underlying securities and sector-wise data through view scheme holdings.
Fund house views offer short videos featuring fund managers explaining their fund management philosophy, which helps users with their fund selection process. Additionally, Zerodha allows users to save taxes under Section 80C by investing in ELSS funds and provides a one-click statement to file taxes.
The platform also offers instant payments through UPI payments and allows users to create automated fund transfers through eMandates to fund SIP instalments. Other features include viewing curated schemes in different categories, annualized (XIRR) and absolute returns, and mutual funds being held in demat form, making them easier to pledge as collateral for a loan against securities and margin for trading in derivatives and stocks.
Zerodha is a member of NSE & BSE and holds SEBI Registration No.: INZ000031633. CDSL also provides depository services through Zerodha Securities Pvt. Ltd., holding SEBI Registration No.: IN-DP-431-2019.
2. Groww – Stocks, Demat, Mutual Fund, SIP
Groww is an investment app that allows users to easily invest in mutual funds, stocks, IPOs, and trade in the stock market. The app offers a 100% paperless onboarding process and allows users to invest in popular mutual funds, stocks, and IPOs in just a few minutes from the comfort of their own home.
Users can invest in any direct mutual funds by SIP or lump sum at 0% commission for free. For existing investors, switching regular investments plans to direct mutual fund plans can lead to extra returns. Groww is a simple Demat and stock trading app that enables users to open a free Demat account and trade BSE, NSE listed stocks in the share market at a low brokerage on the stock orders.
The app features smart filter options to get the top mutual funds listed under different categories based on metrics, a mutual fund SIP calculator to help users estimate the returns for an investment over a period, and a stock trading app made simple with 1-click to buy/sell shares. Users can view beautifully designed line and candlestick charts that show share price movements, historical performance, and complete information about all companies, enabling informed decision-making. In addition, the app provides the latest finance news and insights, including share market news, free stock investing for beginners content, and videos. Groww uses 128 bit SSL Encryption, a high level of encryption standard for all transactions, which makes it as safe as a bank.
3. myCAMS Mutual Fund App
myCAMS is a mobile application that offers a range of features for transacting in mutual funds. It provides a single gateway to multiple mutual funds, including those from Aditya Birla Sunlife MF, DSP MF, HDFC MF, HSBC MF, ICICI Prudential MF, IDFC MF, IIFL MF, Kotak MF, L & T MF, Mahindra MF, PPFAS, SBI MF, Sriram MF, Tata MF, Union MF, and WhiteOak Capital MF. With myCAMS, users can get a one view of their mutual fund portfolio, open new folios, purchase, redeem, switch, and set up SIPs.
The app has won several awards, including the Best Financial App Award at GMASA for three consecutive years since 2015, the Best use of Digital Platform for Mutual Funds at Drivers of Digital Awards 2017, and the Winner of Best Application of Technology at CX Strategy Summit and Awards 2018.
In terms of security, myCAMS is designed to be secure and does not store any information on the user’s device or SIM card. Users can download the app and stay connected to their mutual fund investments at all times.
4. ET Money- Mutual Funds, Stocks
ET Money is a top-rated personal finance management app in India that offers various investment options, including mutual funds, fixed deposits, and insurance policies. Direct mutual fund investment is fast, easy, paperless, and secure with ET Money, and users can invest in top-rated mutual fund schemes selected through expert recommendations. Additionally, users can invest in different mutual funds, such as equity mutual funds, ELSS mutual funds, small-cap, large-cap mutual funds, balanced funds, gold mutual funds, sector mutual funds, or international funds, all from one mutual fund app.
The app offers no transaction charges, no hidden fees, and 0% commission on mutual fund investments, making it the best mutual fund app. It supports all UPI payment apps and enables one-tap payments through NPCI emandate and net banking for mutual funds investment via SIP/Lumpsum. Users can also switch their existing Lump Sum or SIP mutual funds from other apps easily. The app provides one investment dashboard to track all past mutual fund investments invested externally or outside of ET Money. Users can upload PDF for all external mutual fund investment for better portfolio tracking, track returns of their mutual fund investment portfolio, and get investment health reports as well as ideas to improve returns and reduce risks.
ET Money offers free mutual fund investment account creation in few minutes and users can start their mutual fund investment journey with ₹500/month via SIP in top mutual fund schemes.
5. FundsIndia: Mutual Funds & SIP
FundsIndia, one of India’s first and largest free online investment platforms, provides a hassle-free and paperless investment experience with zero fees. It offers financial products such as mutual funds, equities, fixed deposits, NPS, and more, along with value-added services like flexible SIPs, trigger-based investing, and access to India’s most comprehensive automated assistance service – Money Mitr.
Mutual fund investing has never been easier with FundsIndia’s investment approach used in the app, which assures a user-friendly experience. Regular upgrades ensure the app remains up-to-date and easy to use. Investors can also avail the services of a dedicated FundsIndia Mutual Fund investment coach (SEBI registered) for portfolio building, financial planning, reviews, and re-balancing investments. Backed by a strong in-house research team, the experts can assist investors with all their financial guidance needs.
FundsIndia’s platform caters to novice and expert investors alike, offering easy stock market investments in both BSE and NSE. Investors can also make SIP investments in top mutual fund companies instantly, using the SIP calculator available on the app to determine their needs based on financial goals or consult their in-house investment coach.
The platform is an all-in-one mutual fund and stock investment app that allows investors to monitor and manage all their investments on a convenient dashboard. Investors can invest in SIP and mutual funds online, track their growth, and redeem them at their convenience.