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Mutual Funds

Top Best 6 Mutual Fund Apps in India 2022-23

Written by - Rudri Rawell

December 2, 2022 4 minutes

Investing in mutual funds was never easier with some high-quality apps that allow investors to carry out financial planning at their fingertips. Depending on an investor’s financial needs, he/she would want to invest in different mutual fund schemes. This requires the right app that is safe, easy to use, and cost-effective. With so many applications available to download these days, finding the right app for investing in mutual funds may be tough. That’s why we have put together a list of the best mutual fund apps that investors can explore to begin their financial journey.

Fisdom app 

The Fisdom app is an ideal mutual fund investment platform in India, especially for those investors who are new to mutual funds. The app is designed to make the investment process exceptionally simple. Users can also go through some value-based features like ‘risk profiler’ and ‘financial health check’ to ensure that they make the right choice of mutual funds.

Apart from mutual funds, the Fisdom app also allows investors to explore the stock market with a highly competitive brokerage structure and zero enrollment charges. 

Fisdom app enjoys:

  • Android rating – 4.7/5
  • App downloads – 10lakh+

Here are some of the top features of this app:

  • Tailor-made fund recommendations as per individual’s investment capacity, investment horizon, and risk profile
  • Wide range of funds
  • Convenient single-view dashboard for easy tracking of investments
  • Ability to import external mutual fund transactions
  • Free access to advanced research reports 
  • Smooth e-KYC
  • Secure transactions

Other mutual fund apps in India

Some of the other high-quality mutual fund apps in India are:

  1. Zerodha

Zerodha’s Coin is a well-established mutual fund investment app. This is a simple app that allows investors to make mutual fund investments. To use the app, one must have a Zerodha account. The application allows users to invest in mutual funds via Systematic Investment Plans or lump sum. 

  1. Groww

Groww is also one of the mutual fund apps preferred by new investors. This app has basic user-friendly features that allow users to pick their investment choice as per their financial planning needs. With a single dashboard for tracking all investments, users can enjoy convenience while using this app. 

  1. Paytm Money

Paytm is a popular app used by many for day-to-day financial transactions and shopping needs. Paytm has introduced its investment-specific app called Paytm Money which allows users access to various mutual fund schemes and to create a personal financial portfolio.

  1. ET Money App

This app is among the top-rated mutual fund apps. It is suitable for both new investors and also experienced investors. The app also contains some insightful posts for investors to enhance their investment decisions. The app offers personalised investment roadmaps to cater to individual financial goals. 

  1. Kuvera

Kuvera mutual fund investment app comes with a goal-based investment feature. Through its recommendations, it caters to various financial goals of investors such as tax saving, wealth creation, financial stability, etc. The app’s single-view dashboard lets investors easily track their investments at any time and from anywhere.

Conclusion

With rapidly transforming technology and user needs, different mutual fund apps are offering unique personalized features to attract a wider user base. Mutual fund investments have become a cakewalk with apps like Fisdom. While selecting an app for mutual fund investment, users must ensure to check transaction safety apart from ease of usage.

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FAQs

Are mutual fund apps legal?

Certain reputed mutual fund apps like Fisdom are legal since they are authorised to offer mutual fund investment services. It is important for users to check the mutual fund app’s license to ensure the legality of transactions.

Does Fisdom charge fees for mutual fund investment services?

Fisdom app offers zero account opening charges for mutual fund investments.

Which is better, SIP or lump sum investment in mutual funds?

SIP investment mode is ideal for those who want to stagger their mutual fund investment without causing a financial burden. Investors who have excess cash can invest in mutual funds via the lump sum route.

How do I know if a mutual fund app is safe to use?

You must conduct some basic due diligence about different mutual fund apps before short-listing and narrowing down the safest choice and see if the app has AMFI ARN Code and is registered with relevant regulators.

Is it ok to link bank account details in a mutual fund app?

Since linking of bank account is mandatory for starting a mutual fund investment, one must check the authenticity of the investment platform before proceeding.

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