What are Mutual Funds?
Mutual Funds are professionally managed investment schemes in which several investors pool together to invest in equities, debt and related financial instruments. It is one of the best ways to invest and grow money.
Money can be invested in Mutual Funds either by investing a lump sum or small installment amounts as a Systematic Investment Plan (SIP). Several mutual fund schemes have been launched by different banks and Mutual Fund Houses.
Also Read : What are Mutual Funds? How Do Mutual Funds Work?
What are Mutual Fund Apps?
For a smoother experience in mutual funds investment, many apps have been launched by various banks and Asset Management Companies (AMCs). One can invest online using with the comforts of home.
It helps to keep a track of investments and helps you save on the commission that you would pay to the agency or distributor. One can invest in these mutual fund plans through websites as well.
There are several apps that provide details of fund schemes such as overall performance and estimated returns of these fund plans. It helps people to keep track of all invested money, through the portfolio on the platform and often provides customized recommendations. Some of the best apps that make mutual fund investment a convenient process are discussed below:
Paisabazaar
Paisabazaar App is an integrated platform that provides one-stop financial solutions in various financial instruments like insurance, loans, credit cards, mutual funds, FD, etc. The platform is not just for investing but also acts as an investment tracker.
It also provides the option of investment in ‘Direct Mutual Funds’ where several options like Equity Funds, Balanced Funds, Debt Funds and such others are provided.
Also Read : Know the Difference Between Direct and Regular Mutual Funds
Investors can compare schemes and invest in selected plans. It also provides details of top-rated funds and Paisabazaar recommended funds. One can also select plans by browsing through Asset Management Companies (AMCs).
Information such as Rating by Value Research, returns, fund size, lock-in period, performance graph is provided for investors to choose a favourable plan for themselves. As they are direct mutual fund investment, no commission is charged for the agent or agency.
Also Read : How to Invest in Mutual Funds in 5 Simple Steps
Piggy Mutual Funds Mobile App
Piggy App also provides direct mutual fund investment plans with no commission charges. One can also transfer funds online from the savings account and invest in liquid funds, equity, etc. Investors can earn 1% extra benefit by using this app. One can build a customized portfolio as a personal tracker to monitor investments and wish lists.
myCAMS Mutual Funds App
myCAMS app provides facilities of opening new folios, browsing through multiple mutual fund investment schemes, purchasing, redeeming, setting up SIP or opt for Common One Time Mandate (OTM). Investors can also schedule transaction and change their default bank mandate. It also provides PAN level view if family members are also investing and can create a watch list to track activities.
Go MF Mobile App
GoMF Mobile App by MF Utilities is where mutual fund investors can buy or sell fund investment schemes and create SIP, STP and SWP. They can have a Common Account Number (CAN) and can transact online or view their unit holdings.
Ktrack App
An app by Karvy which acts as a personal fund manager where people can invest through SIP or lump sum in multiple fund investment plans. One can redeem the funds or switch to other funds. It facilitates easier ways for transaction especially for distributors who want to track their client MF portfolios at one place.
FundsIndia App
FundsIndia App from Funds India helps investors to gain access to several investment schemes and can sign up for SIPs using Aadhar Card. It also provides personalized investment recommendations customized for individual investors.
FinGo by Birla SunLife MF
FinGo by Birla SunLife allows investors not only in choosing among various investment plans and calculate returns using SIP calculator but also helps plan their financial goals and view their account statements real-time. It provides information about products from BSLMF, fund fact sheets, NFOs by the company, dividend and NAV updates. It has an additional feature where investors can post their queries and make request services.
Simply Save App from Reliance Mutual Funds
Launched by Reliance Mutual fund, Simply Save app facilitates investment in Reliance Liquid Funds. One can start with a minimum amount of Rs. 100 and keep adding in multiples of Rs.1. However, one cannot invest in regular MF plans.
SBI InvesTap
InvesTap by SBI Mutual Fund allows investors to browse through a number of MF schemes, invest, switch and redeem mutual fund plans. They can track the performance of the fund’s Net Asset Value (NAV) through real-time alerts and notifications.
IPRU TOUCH by ICICI Prudential Mutual Fund
IPRU TOUCH is an app where investors can invest in any MF investment plan by ICICI Prudential Mutual Fund. Investors can access their account statements, capital gains and distributors can keep track of all clients at one place easily.
HDFC MF App
HDFC MF App helps investors to view their folio valuation and NAV as well as subscribe, switch and redeem MF investment schemes of HDFC Mutual Funds. One can invest in some best performing schemes as HDFC mid-cap opportunities fund, HDFC Balanced Fund, etc.
Easy App by Axis Mutual Fund
Easy App just makes an investment in funds easier as it provides NAV, NAV history and goal-based calculators which helps investors to choose a plan accordingly. It allows investors to buy, redeem, switch and start SIP through internet banking; money from liquid funds can be redeemed instantly.
It helps to keep a track of investments and helps you save on the commission that you would pay to the agency or distributor. One can invest in these mutual fund plans through websites as well.