The best mutual fund apps in India for Beginners in 2020

The pandemic has taught everyone a very important lesson. A lesson that has been repeated by financial gurus for ages and finally we understand that they were right all along. “Everyone needs to have more than one source of income”, period. It is understandable that not all can manage to do two jobs and it is not even necessary. The experts say that you need to have one active and one passive mode of income. The best way to have the latter is through investments and technology has indeed made it so much easier. Now, we have numerous investment apps that allow us to grow our money on our phones. Mutual funds involving low risks is the best option for newbies. So, to start your investment journey we have the best mutual fund apps in India for you.

1. PayTm Money

India’s biggest startup has made it to the world of investment through its app called Paytm Money. The app offers a number of investment services available at 0% commission and brokerage. The exciting feature that this mutual fund app contains involves real-time update on investment, a minimum investment of 100, Upi connectivity and option to transfer funds from other apps like Groww. The app is one of the best options available for investment for students and novice investors in the country.

2. ET Money

How can someone talk about the best mutual fund apps in India without mentioning the most trusted and oldest one in the market? The ET Money investment app has been catering to the needs of budding investors since the beginning. The highest-rated investment app offers services like instant loans, insurance policies, expenditure management, investing in direct mutual funds through SIP etc. The best thing about the app remains to be the outstanding customer service and the grievance redressal services.

3. Groww

Among the most popular mutual fund apps in India is the trendy Groww. This investment app is gaining immense popularity among youngsters due to its interface and hassle-free investment in mutual funds and stocks. The platform allows you to open a trade account on BSE just by sharing your PAN Card. Groww provides you with all the trade solutions at one place, including news from the stock market. This app is considered to be an ideal option for new investors and offer investment services at 0% commission. The only problem that users report with this app is the slow redressal to grievances.

4. Zerodha Coin

This investment app is as unique as its name. With more than 3,000 direct mutual funds across 34 fund houses, Zerodha is something a budding investor can’t miss out on. Just like other competitors, this app too offers 0% commission saving you 1-1.5% compared to regular mutual funds. This is one of the most popular mutual fund apps in India with an investment of 2500 crores done by 1,50,000 users of all professions.

5. myCAMS Mutual Fund App

The best investment app according to GMASA is the most convenient investment app you’ll find. myCAMS offers management of mutual fund portfolio and its purchase, redemption and switches at once place. It allows you to invest in NFOs and protects your money by two-factor authentication. This is not all, the app also allows you to transfer SIP and schedule your purchases for the future. While not holding any of your personal information, like your bank account details. myCAMS might be the ideal option for you if you don’t mind remembering a password or a pin.

No matter what age or profession you belong to, investment is something you can’t turn a blind eye against. Especially when technology has made it so convenient for you to manage your investments. With the knowledge of the best mutual fund apps in India available at your disposal do not miss out on the opportunity to grow your money.

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