Mutual funds have become a popular investment option in India due to their potential for wealth creation and diversification. An appreciable increase in the number of investors using mutual funds has been observed in the Indian markets. Mutual funds operate by combining the capital of several investors to invest in various assets, such as bonds, stocks, and commodities, to accomplish a shared objective. Professional managers oversee these mutual funds, determining which investments must be bought and sold to meet the fund’s goals.
To facilitate easy and efficient mutual fund investments, various platforms have emerged, offering a range of services and tools to help investors make informed decisions. In this post, let us see the top 10 leading online and app investment platforms of 2024. The ranking is based on their app download numbers.
1. Angel One
In India, Angel One is among the top platforms for investing in mutual funds online. In 1996, this stock broking company was established. Consider investing in mutual funds through Angel One if you are starting. Angel One has a lot of features that are helpful to the user. To assist its clients, Angel One prioritizes technological innovation.
2. Groww
Groww provides free trading for stocks, mutual funds, and exchange-traded funds (ETFs). With its user-friendly design and comprehensive market analysis, the software helps investors make well-informed decisions. This is the greatest mutual fund app for those new to investing who wish to understand how the stock market works. Additionally, Grow is free for life, so there are no yearly or maintenance costs.
You can keep track of all your investments, yearly returns, and other information on a single dashboard. To register on the app, you must finish the KYC account verification process. Additionally, it may be downloaded on iOS and Android.
3. Paytm money
Most people frequently use Paytm, a well-known app in the banking industry. Paytm is mostly used for making payments to vendors, but it also offers other financial services that you may easily access. You can start using the Paytm money app after installing it. In addition, the Paytm money app offers a 1% greater return, access to additional investment plans, and portfolio-building capabilities. Because of this, Paytm Money is one of the top mutual fund apps on our list.
4. ET Money
One of the greatest mutual fund apps is ET Money, which offers a range of investing options, including stocks, mutual funds, and exchange-traded funds (ETFs). The Economics Times magazine oversees the ET Money app, an award-winning application created by Times Internet. The app’s most intriguing feature is the financial calculator; users may enter a goal, and the software will suggest multiple mutual fund investing strategies based on that aim.
ET Money offers a straightforward integration method with other payment apps, including GPay, Paytm, PhonePe, and others. Based on the mutual fund scheme’s past performance, the customized section of this app will suggest the finest mutual funds for you to invest in.
5. Upstox
Groww directly competes with Upstox. Mainly a discount brokerage, Upstox has recently moved into the mutual fund industry with its platform, Upstox Mutual Fund. The website offers a range of mutual fund investment alternatives from well-known asset management companies and gives consumers an easy-to-use interface for making mutual fund investments. Additionally, Upstox Mutual Fund offers value-added services to help investors manage their portfolios more effectively, like portfolio rebalancing and tax-saving options.
6. Coin by Zerodha
One of India’s top leading trusted forex traders in India is called Zerodha. One of the greatest mutual fund apps on the market right now is their App Coin. It is a no-commission mutual fund platform offering numerous features and investing alternatives. App users can choose from over 3,000 mutual fund plans offered by more than 35 fund houses. With this app, you can create your SIP at any moment. Moreover, it lets you modify the SIP anytime any information needs to be updated. You can review the tax filing process, ELSS funds, and several financial initiatives.
Regarding its software features, the Coin By Zerodha app boasts an exquisitely designed User Interface. Thanks to the specialized investment calculator, it’s easy to use; you can quickly switch between and understand different financial schemes. However, you must have a Zerodha account to utilize this mutual fund app.
7. SBICAP Securities
One trustworthy and respectable brokerage company to consider when making a mutual fund investment is SBICAP Securities. SBI established SBICAP Securities in 2005. There are numerous SBICAP Securities branches around India. This platform has many benefits to encourage more individuals to invest in mutual funds.
8. Kuvera
Investors can purchase and sell mutual funds online with Kuvera, an online investing platform that charges no commission. Its many features are why this is included in our list of the best mutual fund apps. You can oversee joint family accounts, accumulate your financial portfolio, and monitor your investments. Additionally, the app has a straightforward but functional dashboard to view all policies, financial plans, and SIP details. It also enables you to make life goals and assess your progress. It also recommends popular mutual funds that can assist you in reaching your goal.
9. Motilal Oswal
Motilal Oswal Financial Services, a financial services provider, offers mutual fund alternatives. In 1987, Motilal Oswal and Raamdeo Agrawal founded the business. In India, Motilal Oswal is among the top stock trading platforms. Consider investing in mutual funds through Motilal Oswal. The business has received numerous awards for the services it provides to people.
10. Axis Direct
In India, Axis Direct is a reputable and licensed bank. Axis Direct is the brand under Axis Securities Limited, an Axis Bank subsidiary in India. 2011 saw its founding. Some of the alternatives Axis Direct offers are mutual funds, equities, derivatives, exchange-traded funds (ETFs), and currency trading.
Conclusion
The main benefit of direct mutual funds is that you pay far less in expenses than you would with a traditional mutual fund. You must conduct in-depth market research to select the best mutual fund app or online platform for investing in India. Investors who want to minimize risks and maximize returns must select the best mutual fund investment platform that offers direct mutual funds and the appropriate tools. Investors may determine which brokers and programs offer the most competitive investing platform by considering variables including returns, risk, commission-free plans, and other services.
