Top 5 Mutual Fund Apps in India for Direct SIP

If you're trying to invest from the convenience of your residence in mutual funds, a range of mutual fund applications will help you to make a financial goal by investing in mutual funds. In the current situation of lockdown all over India due to the pandemic of coronavirus, it is not possible to submit physical documents to start your SIP. So in this lockdown phase, a mutual fund investing app is your ideal partner to secure your financial future.

There are several mutual funds in the Google Play Store or IOS store, which will not help you to manage your fund portfolio but also enables you to purchase or redeem lump sum MF units or start a new SIP right from your comfort. Let's explore the 5 best mutual fund investing apps in India where you can not only manage your NAV but also you can invest in direct mutual fund schemes, perform paperless KYC, generate online SIP, track past performance of the scheme, know details of the fund managers of your selected scheme, track top holdings and much more.

1. ETMONEY

ET Money is a subsidiary of Times Network and is one of the highest-rated apps in Play Store. ET Money offers its customers with personal finance strategies through its fully automated framework. ETMONEY provides you with a range of financial services such as instant loans, insurance policies, manage your expenditures, invest in direct mutual funds through SIP and much more.

Key benefits:

• You can automatically track your expenses classified into different categories.
• Invest in ETMONEY's Tax Saver Solution for free and save up to Rs 46,800/-
• Get up to 1 per cent extra returns on the current standard Mutual Funds by converting to Direct Plans of same Mutual Fund Schemes.
• Experience simple and secure payment options for mutual funds through UPI apps such as Google Pay, PhonePe, Paytm, Automate Payments for SIPs & make one-tap payments via Easy Pay (driven by NPCI's Emandate) & internet banking.
• One dashboard to manage all your investments including mutual fund.
• Invest in best performing mutual funds for free.

2. CashRich

CashRich is India's first Mutual Fund App with Dynamic SIP method to earn higher returns compared to regular SIPs. CashRich is your ideal partner when it comes to cherishing the suitable investment options. In short-term liquid fund schemes (get 3-4 per cent higher returns than bank), tax saving schemes under section 80 C or long-term wealth creation options, pick the best according to your need and start investing through SIPs. Includes top-performing schemes in different categories like Short Term, Save Tax, Long Term, Balanced, International, Gold and Sector.

You can review the schemes' past performance, and also calculate your SIP or returns. You can also use the 'Switch' method to toggle the investment from one scheme to another within the same fund house. Use the Cash Rich App as a method for monitoring and managing your investment right now and experience the consistency and threshold of personalization of investment recommendations. It not only guides you to invest in top-performing schemes but also helps to determine when and where to invest.

Key benefits:

• Your Account Security is the primary concern. With that in mind, CashRich has collaborated with the UK-based facial recognition company known as 'Yoti'.
• One tap chat support to get 24x7 assistance
• Recommended funds to invest bases on your goals and profile
• Instant money withdrawal facility
• Track the performance of your investment on the go.
• Dynamic SIP provides the enhanced diversification of portfolios and better returns

3. Groww

Investing in mutual funds and stocks is rendered simple, fast & safe with Groww. Experience hassle-free paperless investing solution, and track top-performing mutual funds and stocks just in a matter of seconds. Groww is the safest Demat & Stock Trading platform that enables you to open an account and invest in BSE, NSE stocks listed on the stock exchange. Invest in the direct mutual funds through SIP or lumpsum and also get the option to switch your regular investments plan to direct mutual fund plans for earning higher returns.

Key benefits:

• Easy registration and simple KYC process to generate your account
• Invest in the prepared set of mutual funds suggested by professionals and top mutual funds classified in multiple categories.
• Calculate the returns on your investment through Mutual Fund SIP calculator.
• Perfectly rendered graphs, previous performance and comprehensive information on all mutual fund schemes help you to make a perfect choice to invest.
• Trending news on finance and share market.
• All transactions are performed under 128 bit SSL Encryption

4. Paytm Money: Mutual Funds App

Open your mutual fund investment account at Paytm Money just in a matter of seconds and earn up to 1% higher returns by investing in Direct Mutual Fund Schemes. Discover and invest in packs suggested by Aditya Birla Sun Life Mutual Fund, HDFC Mutual Fund, ICICI Mutual Fund, Morningstar, Nippon Mutual Fund & SBI Mutual Fund as well as investment packs and portfolio strategy advised by Paytm Money advisory team. With Paytm Money, you'll experience streamlined investment payments with various choices like NetBanking, UPI, and Auto-Pay.

Key benefits:

• Zero commissions on buying and selling of direct mutual fund plans through Paytm Money.
• Invest in mutual fund schemes among all 40 Indian mutual fund companies
• Stay connected on the Paytm Money app with your mutual fund investments in real-time, and monitor your SIPs 24x7.
• Set up Auto Pay and enable one-tap investments in SIPs
• Cherish an easy one-tap switch from platforms including ET Money, Groww, Zerodha, Scripbox, MyCAMS, Karvy, AMCs, etc, to Paytm Money without any cost.
• Invest in liquid funds and experience instant withdrawal facility.
• Invest in equity-linked savings schemes and save taxes up to Rs 46,800 under 80C deductions.
• Explore Mutual Fund scheme ratings given for smart mutual fund investment strategies by reputable entities such as Value Research, MorningStar & CRISIL.

5. myCAMS Mutual Fund App

myCAMS offers a variety of innovations such as view and manage your mutual fund portfolio, purchase, redeem, switch, generate SIP, etc. The app allows you quicker, simpler and smarter methods to invest in top-performing mutual fund schemes. myCAMS is reliable, and it does not hold your account or personal details. Download the app today and welcome the below-listed benefits to nourish your financial goals.

Key benefits:

• Recognized as the Best Financial App Award at GMASA
• Acknowledged with Best Application of Technology at CX Strategy Summit and Awards 2018.
• Convenient myCAMS login method such as PIN, Pattern or Password.
• Two-factor authentications for advanced security
• Invest in NFO schemes directly from the myCAMS app
• digiSIP is programmed instinctively to offer pace and convenience to start new SIPs.
• Use net banking, existing common mandate and register new eMandate to initiate a new SIP as well.
• Track your multiple SIP/STP/SWP right from your comfort.
• Track the performance of your selected scheme by adding it to 'myWatchList'.
• You can set up future Mutual Fund transactions by in-app Scheduled Transaction option.
• Track your ELSS investments and also generate a customized statement
• Use CAMServ chatbot and get assistance for all mutual fund services such as track the status of your transaction, request for statements and more.

About the Author

Vipul Das has done BCA and has significant experience in the finance sector. He is writing content and finance related articles for GoodReturns for more than two years.