Mutual funds have grown as an effective and profitable investment scheme in the last few years. The best things about mutual funds are that they offer the safest route to the stock market. They’re not as risky as trading in the securities market directly, which is great for investors having a low-risk profile.
Today, you can invest in mutual funds in mutual funds in countless ways. Many apps allow you to do so as well, but not all are equally good. Here are the 5 best apps for investing in mutual funds in our opinion.
1. Coin by Zerodha
Founded in 2010, Zerodha is one of the biggest stock brokers in India. Coin by Zerodha is its mutual fund’s investment platform, where investors have access to over 3,000 mutual funds from 30+ fund houses. The mutual fund investment app has over 1 million+ download on Play Store and currently has 4.4 stars out of 5. One of the biggest benefits of using the app is that you don’t have to pay any commission. Additionally, the mutual funds are kept in the Demat account, which makes it easy to pledge it as collateral.
2. Paytm Money
Paytm Money is a popular choice for investing in mutual funds. The app, owned by Paytm, has over 5 million downloads on Play Store. You can buy and sell mutual funds without having to pay any commission on Paytm Money. You can also switch seamlessly from regular to direct plans on the app, while the tracking feature allows you to constantly monitor your funds.
Owned by the Times Network, ETMONEY allows you to invest in mutual funds, ELSS and other types of investment schemes. The app is strongly rated on Play Store as well as the App Store. It is smooth, fast, and really insightful, which is great for new investors. You can get in-depth information, such as returns and risk, about each and every fund. Tax solutions up to ₹46,800 can also be availed for free on the ETMONEY app.
Based out of Bengaluru, Groww is a platform for investing in stocks, mutual funds and other schemes. Investing in mutual funds is especially easy on Groww. There’s no need to pay any commission, while the brokerage fee involved is negligible. Like ETMONEY, Groww also has tons of learning resources that makes investing in mutual funds easy and fun. Low initial investments are also available on the app. You can start a Systematic Investment Plan (SIP) with as little as ₹100.
Dynamic SIP is the best thing about CashRich. The feature ensures maximum return by allowing you to invest the exact moment at which the market goes down. This helps you buy cheap and then sell at a good profit. CashRich is currently the only application that offers Dynamic SIP. The app also doesn’t have any transaction or maintenance charges, with every investor having access to a free lifetime account as well. You can open an account at CashRich in less than an hour, using digital copies of your documents.