As we all know that investing in mutual funds is one of the best ways to grow our money in the long term. And thanks to some of the best mutual fund apps in India, tracking, managing and investing in different mutual fund schemes is a lot faster and easier these days. Moreover, you can perform all these activities in just one app.
Whether you are interested to invest in regular funds or direct mutual funds, there are multiple mobile apps for these mutual fund investments in the google play store providing the advantage of buying and selling on the tip of your fingers. Further, if you plan to invest in direct funds through these apps, they can also help you to save an extra commission of 1% to 1.5% which is a huge advantage.
What are Direct Mutual funds?
Direct vs Regular Mutual Funds Plans: With effect from the very beginning of the year 2013, the SEBI had made it compulsory for all Mutual Fund houses of having two versions of each scheme i.e. Direct plan & Regular (or Indirect plan).
In a Direct plan, you can invest directly in a scheme of a Mutual Fund AMC at a low cost. The direct plans are cheaper than the regular plans because you will be saving costs in terms of paying commission to intermediaries. Looking at both the plans, the difference in returns seems to be as low as 0.25% which can go up to 1%.
In the long-term, these differences result in significant amounts. So, this clearly evident that you should always go for investing in the Direct plans of Mutual Funds. (Have a look at what AMFI says about Direct Plan here)
7 Best mutual fund apps for direct investment:
From hundreds of mutual fund investment apps listed on the play store, we have hand-picked seven of the best mutual fund apps for direct investment. Here is the list of the most competent mutual fund apps for Indian investors:
1. myCAMS Mutual Fund App
myCAMS is a single gateway to invest in multiple Mutual Funds schemes. The app facilitates faster, easier and smarter ways to transact in the direct funds.
There are various features of myCAMS which include mobile PIN & Pattern login, one view of your MF portfolio, open new folios, purchase, redeem, switch, set up SIP and more. It also helps in scheduling the transaction option which allows investors to set up future Mutual Fund transactions.
Rating on Google Play store: 4.4 out of 5 with a total of 43,253 ratings.
2. KFinKart- Investor Mutual Funds
The core objective of this app is to simplify the journey of the customer in mutual funds. It is a one-touch login app that empowers you to invest across a host of mutual funds and provides a new way of investing your money. It also emphasizes on a single view of your investments, manage profile, make decisions and transact instantly without needing multiple apps offered by different fund houses.
This app peculiarity is to make the most of your time and money by linking and tracking your family folios across AMCs, invest in NFOs, transact or reinvest, start or stop SIPs, etc.
Rating on Google Play store: 4.1 out of 5 with a total of 17,918 ratings.
3. Zerodha Coin
As per my opinion, Zerodha coin is one of the best apps to invest in direct mutual funds. They offer investment services in over 3,000 commission-free direct mutual funds across 34 fund houses. This can help in saving up to 1-1.5% more per annum compared to regular mutual funds. With over 1,50,000 investors who have invested over 2500 crores and collectively saved 30+ crores in commissions, Zerodha Coin has already built a big brand and customer base.
Key features of the app include:
- Search, filter, and buy from over 3,000 commission-free direct mutual funds across 34 AMC’s.
- A single capital gain statement, P&L visualizations, and Annualized (XIRR) and absolute returns.
- Mutual funds are held in Demat form, and thus easier to pledge as collateral for loan against securities.
Rating on Google Play store: 3.9 out of 5 with a total of 2,830 ratings.
Note: You can open your account with Zerodha to invest in direct mutual funds and stocks using this quick link.
4. ETMONEY Mutual Fund App
ETMONEY was founded by a group of passionate Entrepreneurs, IITians and Designers with deep expertise in technology, mobile & financial services. Associated with a big brand of Economic times, this Mutual Fund app is a one-stop destination for all things investment which helps to track & manage expenses using expense manager, Invest in Mutual Funds through SIP or Lumpsum, Save tax with SIPs in ELSS mutual funds, etc.
Rating on Google Play store: 4.6 out of 5 with a total of 82,199 ratings.
5. Groww- Mutual Funds App
Groww app is one of the fastest-growing apps in the Indian mutual fund industry. And the credit goes to its clean user-interface. This app helps in investing in mutual funds free of cost and is pretty simple to use with minimum paperwork and no hassles. All mutual funds information are available in just one investment app. Similar to the apps listed above in this article, Groww app also allows everyone to invest in direct mutual funds with zero commission and offers an additional saving up to 1.5%+ compared to regular plans.
Key features include:
- Simple design, built with beginners and experts in mind
- Dashboard to track all your investments, annualized returns, and total returns
- Top mutual funds list for different categories with the latest finance news and insights
Rating on Google Play store: 4.6 out of 5 with a total of 24,189 ratings.
6. PayTM Money Mutual Funds App
Paytm Money, offered by the Paytm group, is turning out to be one of the most trusted platforms in India which provide up to 1% higher returns by investing in Direct Plans of Mutual Fund Schemes with no commissions or any charges on buying and selling of direct mutual fund plans.
It offers many features to the customer which includes fully Transparent Tracking, Data Privacy & Protection, Switch from Regular to Direct Plans, Track, Manage & Automate SIP Investments, etc.
Rating on Google Play store: 4.3 out of 5 with a total of 29,447 ratings.
7. KTrack mobile app by Karvy
The primary objective of KTrack mobile app by Karvy is to manage the investments of its customer in mutual funds. This app offers new ways of investing your money. With just one-touch login that powers you to invest across thousands of mutual funds. It provides a single view of your manage profile, investments, make decisions and transact instantly without needing multiple apps.
The app has Enriched UI and many features like One-touch login or Log In through Facebook/Google account, Enriched Navigation, provides Portfolio Dashboard, helps in tracking of your transaction, NAV Tracker, etc.
Rating on Google Play store: 4.1 out of 5 with a total of 17,918 ratings.
Bonus: Additional Mutual Fund Apps
List of a few other Mutual Fund Apps for Direct Investment:
- IPRU TOUCH by ICICI Prudential Mutual Fund
- InvesTap by SBI Mutual Fund
- FinGo by Aditya Birla SunLife MF
- HDFC MFMobile app by HDFC MF
- EasyApp by Axis Mutual Fund
- FundsIndia Mobile App
A few fast-growing startup apps trying to simplify mutual fund investment worth checking out:
- Scripbox: 4.3/5 with a total of 2,938 ratings (Playstore)
- Kuvera: 4.5/5 with a total of 1,580 ratings (Playstore)
- Sqrrl: 4.3/5 with a total of 1,502 ratings (Playstore)
- Goalwise: 4.6/5 with a total of 431 ratings (Playstore)
That’s all for this post. Let us know which one is your favorite mutual fund apps in the comment section below. Happy Investing!