Best Mutual Fund Mobile Apps for investing online in India
Mutual Funds are one of the best way to save and grow your money in medium to long term. With the advent of direct plans in 2013, many fund houses launched or enhanced their online investing portals to make it user-friendly. Mutual funds houses started focusing on mutual fund Mobile Apps. Which are the best Mutual Fund Mobile Apps where an investor can invest in MFs online? Which are the Top Mutual Fund Apps where an investors can view their accounts, make payment of SIP while on the move? Which is the best mutual fund mobile App where you can park your idle money and at a click of button can withdraw from your nearby ATM? This article would focus on 10 Best Mutual Fund Mobile Apps in India and their features.
What are Mutual Funds?
Skip this section if you are already familiar with it.
Mutual funds are professionally managed investment schemes in which the money of several investors are pooled together and invested in equity and equity related instruments. As an investor, you can buy mutual fund units which denote your share of holdings in a particular scheme. The units can be purchased or redeemed at the current NAV (net asset value) of the fund. These NAVs keep fluctuating according to the underlying securities in which the mutual fund scheme is investing.
There are two ways in which one can invest in mutual funds.
Lump sum payment – It is a one shot investment. If one invests the entire amount he wishes to invest in a single go, it is known as lump sum investment.
SIP – SIP or systematic investment plan is an arrangement in which a pre-determined small sums of amount is to be invested at a regular interval say daily, weekly, monthly, quarterly, etc. it is a more systematic approach to investment.
However with the mobile on hand, many mutual fund AMCs and agents have come up with mutual fund mobile apps to ease the process of investing and to make investors feel, “mutual funds sahi hai”.
10 Best Mutual Fund Mobile Apps for investing online in India
Here is the list of best mutual fund mobile apps where an investor can review. One should go through the features and considering picking up a best mobile app suitable for your mutual fund investments.
1) MyCams Mutual Fund App
It enables you to access your investments across multiple mutual funds in single gateway.
You can purchase, redeem, switch among various mutual funds schemes with various mutual fund AMCs.
You can invest in New Fund Offers of mutual funds.
You can do Aadhaar based eKYC.
You can invest in SIP Mutual Funds. You can invest lumpsum amount in mutual funds.
You can create mywatchlist for funds which you want to track.
You can view PAN level (if your family members is also investing) investments view.
This app is available for both android and IOS technology. Mutual
MyCams Mutual Fund App is the winner of the Best Financial App Award at GMASA for two consecutive years since 2015. I vote this as No.1 Mobile App to invest in mutual funds. You can invest in Best Mutual Funds in 2018 through this App.
2) GoMF App by MF Utilities
Mutual fund investors can have a Common Account Number and they can access online to transact and view their unit holdings.
You can buy and sell mutual fund schemes through this App.
You can create SIP, STP and SWP in mutual funds online with the goMF App.
This app is available for both android and IOS technology.
3) KTrack Mobile App by Karvy
This is personal mutual fund manager mobile App from Karvy.
An investor can invest through lumpsum or SIP through this mobile app.
They can redeem the funds / switch to funds.
This app is also useful for distributors who can track their clients mutual fund portfolios at one place.
The negative part is, IOS (iphone) version of the App is not available.
4) IPRUTouch App by ICICI Prudential Mutual Fund
This application is used by investors and distributors of ICICI Prudential Mutual Fund.
Investments in any ICICI Prudential Mutual Fund Scheme can be made through this app.
They can easily access their account and capital gain through this app.
They can buy or sell mutual funds and create SIP/SWP/STP of ICICI Prudential MF.
You can invest in some of the best mutual funds like ICICI Pru Focussed Blue Chip Fund, ICICI Balanced Fund, ICICI Pru Infra Fund, ICICI Pru Top 100 Fund etc.,
5) InvesTap Mutual Fund App from SBI Mutual Funds
This app is run by SBI Mutual Fund.
It allows you to browse through funds, invest, switch, redeem and track performances of schemes.
It helps you to plan your investments as per your financial goals.
The investors even get alerts for real-time tips and notifications regarding NAV of the fund.
The quickest part is that with your PAN number, you can start investing in mutual funds.
Another good feature is that you can use SIP calculator which can help you to know the SIP returns.
You can invest some of the funds like SBI BlueChip Fund, SBI Balanced funds etc., through this mobile App.
6) FinGo App by Aditya Birla SunLife Mutual Funds
On this app, the investors can read information of products from Birla SunLife mutual funds; they can post their queries and make service requests.
They can view their account statements real-time, make investments and transactions.
The app also provides information about dividend and NAV updates.
You can invest in some of the good funds like Aditya Birla Sunlife Frontline Equity fund, Aditya Birla Top 100 Fund etc.,
7) HDFCMFMobile App from HDFC MutualFunds
This app give access to your portfolio via smart phones.
Investors can apply, subscribe, switch and redeem schemes of HDFC mutual fund.
They can have a view of their folio and its NAV on the go with few simple clicks on the mobile.
You can invest in some of the good funds like HDFC midcap opportunities fund, HDFC Balanced Fund etc., through this mutual fund mobile App.
8) EasyApp from Axis Mutual Funds
This app allows investors to buy, redeem, switch and start SIP through internet banking.
It also gives information on latest NAV, NAV history and calculators based on financial goals.
You can redeem your money from liquid funds instantly.
You can invest in some of the good funds like Axis long term Equity Fund (ELSS), Axis Liquid Fund etc., through this mutual fund app.
9) FundsIndia Mutual Funds App from Funds India
This mobile app allows investors to invest in equities and mutual funds.
They have to use their Aadhar Number to get themselves signed up.
This application provides investment recommendations also for the robo-advisor, Money Mitr, which is tailored as per your financial goal.
You can schedule appointment with certified investment advisors through this App.
FundsIndia won the CNBC-TV18 – UTI National Online Advisory Service Award three years in a row – 2014, 2015 and 2016. I feel this too is one of the top mutual fund mobile App to invest in mutual fund investments.
10) Simply Save App from Reliance Mutual Funds
Launched by Reliance Mutual Fund, this app facilitates to invest in Reliance liquid fund – treasury plan – growth.
It is a very simple app to use which allows you to invest with as low as Rs. 100 and then in the multiples of 1.
It allows you to redeem your investments in maximum half-an-hour, 365 days and 24*7.
One should note that you can invest your idle money through this App to get extra returns.
Major drawback is you can invest only in liquid mutual funds through this app. You cannot invest in other regular mutual fund schemes through this App.
Conclusion: I am not asking you to use all these mobile Apps. Investors complain saying they have intention to invest money, however they don’t have time. Go to google playstore or Apple itunes, download one of these best App and start investing in mutual funds on the move. No more complaints that you don’t have time.
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10 Best Mutual Fund Mobile Apps for investing online in India