Invest Mindfully With These Best Apps For Mutual Funds 

Investment is important, but more important is smart investment. Let’s make beginners’ investment journey smooth with the best apps for mutual funds!

In today’s digital world, where everything is available at just one click, technology has played a vital role in making the investment market more advanced, accessible and smooth. One significant development is the mutual fund apps, which have dramatically changed the process of investing in mutual funds.

If you are planning to start your journey in mutual funds, the best mutual funds apps can take full control over it by providing access to a wide range of mutual funds and investment tools. With features like tracking, managing and investing in different mutual fund schemes, the best apps for mutual fund investment can ease the journey. 

Before you delve into the world of mutual fund apps, let’s start with the basics. Learn what mutual funds are and how they work. 

What Are Mutual Funds?

Mutual funds are platforms that collect money from multiple investors to invest in a diversified portfolio of stocks, bonds and other securities. They are managed by an investment fund manager who makes investment decisions on behalf of the investors. Mutual funds offer diversification, professional management and liquidity, making them a popular choice for potential investors seeking great profits from investments. 

Every mutual fund scheme has two plans-

• Direct
• Regular

Both schemes have different benefits, costs and returns. Investors will choose the scheme depending on their requirements. Now, it is the time to learn about the best apps for mutual funds. 

Best Apps For Mutual Funds: Invest With Confidence

Most of the mutual fund beginners find themselves lost without a precise guide. The best apps for mutual funds will help investors thoroughly, right from the start to the end. We choose the best apps for mutual fund beginners based on the total downloads. 

Groww

Groww is one of the fastest-growing apps in the mutual fund industry. Among the best apps for mutual funds, it helps investors in their investment journey for free and minimises the paperwork. Groww is considered the best app for direct mutual fund since it charges zero commission and offers an additional saving of over 15% compared to regular plans. 

Key Features

• Track all investments, annualised return and total return. 
• Offers the latest finance news and other insights.

Total Downloads – 10+ million

Google Rating – 4.4

ETMONEY

Founded by IITians, ETMONEY is one of the best apps for mutual funds for beginners. The app is associated with the Economic Times and is regarded as the one-stop solution for all investment things. Investors can track & manage expenses, invest through SIP or Lumpsum, save tax with SIPs and much more. 

Key Features

• Allows track and manage expenses
• Simple to understand

Total Downloads – 10+ million

Google Rating – 4.5 

Zerodha 

Looking for a digital solution to make mutual fund beginners’ journey easy? Zerodha is one of the best apps for mutual funds providing newbies a better start. They offer investment services in over 3000 commission, free direct mutual funds across 34 fund houses, which can help in saving 1.5% more per annum compared to regular plans. Zerodha has a reputation in the mutual fund investment industry and a large customer base. 

Key Features 

• Easy online access to shares, bonds, and mutual funds 
• Seamless transaction between trading and demat account 

Total Downloads – 10+ million

Google Rating – 4.1 

myCAMS 

myCAMS makes investment in mutual funds easier and smoother with its advanced features. The app design is simple and completely safe. One of the best features that makes it the best app for direct mutual funds is its transaction scheduling option. Investors can invest smartly with myCAMS and enjoy the seamless experience. This is what makes it one of the best apps for mutual funds. 

Key Features

• Provide mobile PIN and Pattern Login 
• Provide access to MF Portfolio, open new folios, purchase and redeem 

Total Downloads – 5+ million

Google Rating – 3.9

When choosing the best apps for mutual funds, consider your investment goals and preferences. Each app has unique features and strengths, so it is essential to evaluate based on your specific needs. 

Investment is one of the best ways to grow in the long term, so invest surely and smartly! 

Frequently Asked Questions 

What is SIP? 

SIP is a Systematic Investment Plan, one of the most popular ways to invest in mutual funds. It is an investment route where one can invest a fixed amount in a Mutual Fund Scheme at regular intervals, in a month or a quarter. 

Is SIP better than FD?

In SIP, a fixed amount is paid at a certain period of time, whereas Fixed Deposits are made once. There are higher chances of risks with SIP, but also chances to earn higher rewards. So, in terms of return on investment, SIP is better than FD. 

What are the tax benefits in mutual funds?

By investing in mutual funds, you will get a tax deduction of up to 1.5 lakh under Section 80C of the Income Tax. 

What is the best time to invest in mutual funds?

There is no best time to invest in mutual funds, while a bear market may look like an ideal time to invest. Identifying the bear market highly depends on the fund manager’s expertise. 

What do beginners need to understand about mutual funds? 

The journey of investment for mutual fund beginners can be difficult without precise guidance since mutual funds is a wide term. First, beginners should understand the meaning of mutual funds, then the schemes and where to invest. The mutual fund apps will be a boon in your investment journey.