Best Online Mutual Fund Investment Platform in India

18 mins read
Best Online Mutual Fund Investment Platform India

These days most assets are tradable through apps specifically built for them. For crypto, you have Binance, CoinDCX, etc. For stocks, you have Money Control, Zerodha, etc. Similarly, mutual funds are also tradable through various apps, some of which are specifically concerned with mutual funds while others allow you to deal in multiple assets. In this article, we learn about mutual funds and the best online mutual fund investment platform India. We will also check out the best app for investment in India and the best app for SIP investment. We also bring to you a list of qualities that you need to look for in a mutual fund investment platform so that you can choose the app that suits your purpose the best.

Best Online Mutual Fund Investment Platform in India

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With so many apps available it becomes crucial to pick one that suits your investment type. It can be difficult to measure apps as there are so many variables and each app has its own benefits. But before we go into picking the best app, let us understand mutual funds.

Mutual Funds as an Investment

Person picking up coins | Best Online Mutual Fund Investment Platform India
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Let’s say you give me 1,000 rupees and I return it to you a year later, the 1,000 rupees do not hold the same value anymore. It likely brings you fewer goods than what it would have gotten you a year ago. Now let’s say we put these 1,000 rupees in the stock market. Here you sign up for high risk and there is no certainty as to what happens to your 1,000 rupees, you might end up with thousands and lakh of rupees in a few years, or you might lose all your money or might even stay stuck with the same 1,000 rupees.

This is where mutual funds are different. More often than not, a mutual fund promises a guaranteed return. You put in 1,000 rupees here, and you can stand to make fixed returns, a decent profit, or a safe investment. Rest assured your 1,000 rupees is as safe as it can be, and it will come back to you as only more than the original sum without a doubt. Mutual funds are one of the safest investment paths because of the flexibility offered and the low volatility. Your money is being handled by professionals and the risk is being divided amongst a large number of shareholders which further lessens the load on an individual investor. You should now find out more about the best online mutual fund investment platform India.

Best Online Mutual Fund Investment Platform India

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Every app provider claims to be the best when it comes to fighting for customers. There are apps like Groww, Kuvera, Paytm Money Mutual Funds App etc. that you can choose from but in the end, it will all depend on what you want from the app.

You can read various articles and do your own research, but you will be confused if you don’t know the parameter against which you should compare two separate platforms. Therefore, let us look at how to determine the best online mutual fund investment platform India by getting into these small details.

Features to look for in Mutual Investment Platform

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As mentioned above, it is our duty to help you learn how to go about finding the correct mutual fund investment platform and so to go about it, you need to check these things related to the platform to find out if they are suitable platforms for you are not.

Platform Type

Decide for yourself if it is the direct mutual fund that you are interested in or the regular mutual fund that you are invested in. There are different platforms that deal with different types of mutual funds and if you don’t mind having a high-expense ratio then you can go for a regular mutual fund app.

Things to avoid

If you come across a mutual fund platform that has only regular mutual funds or that is part of a bigger financial service provider, then you need to know that this is not the correct platform for you. Here you will only come across money-grabbing entities who might be far from the best service providers. Apart from this, it is also better to stay away from investing through the company’s platform which again can spell trouble in the near future.

First of all, never ever choose a platform because it is free. Be assured that if the app is free, then you will have an indirect cost attached to it that you will come to know about once you start using the platform. Also, avoid choosing platforms that claim to be quick and easy to set up and use because that is not really a USP but a one-time thing that you come across which does not add value to the user’s experience.

Lastly, cut-off time on the platform or its over-the-top interface should not convince you to use a platform these are insignificant factors when you look at the macro perspective of things.

Feature loaded

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When we talk about investments we are talking about money and money as we all know holds great value in everyone’s life. So, investments are a pretty serious area and do always make sure that the platform you are choosing has all the latest features that you may need. You may not realize it at the start, but each feature has its own importance, and you never know when you might be stuck due to the absence of one and so always check for the latest features and only then finalize a platform.

Digital

We live in a digital era, and it is only fitting that we choose a platform that is fully digital. There should be no need for any paperwork and a one-time mandate should be enough for any present SIP investment as well as future SIP investments. This feature has to be in the best online mutual fund investment platform in India.

Inclusivity

A lot of bank platforms often leave out a few small and good fund houses. This should not be the case. The platform that you choose should show you all the available fund houses, no matter how small they are. A lot of these small fund houses are the ones that perform excellently. They have their merit and skills to show and any platform leaving them out is acting wrongly and needs to be skipped.

Trading Support

Phone on table  best app for SIP investment
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If the platform of your choice supports stock trading, then it’s another plus for you. Today even Equity Trade Funds are a popular option and if multiple investment options are available in one place, then that saves time and effort on your part.

Portfolio segregation

Mutual funds can be of different kinds. They can be asset-based, goal-based, time-based, etc. although, all of them can seem to be the same thing; it is always better that your portfolio is segregated. All types of mutual funds need to have their own portfolio. It is better that all of them are segregated. As an investor, it makes managing a portfolio an altogether different experience.

Reports

Man checking graph | Best Online Mutual Fund Investment Platform India
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No matter what report you are talking about in the world, we all know how making one can be the most boring thing. Thus, choose a platform that is ready to make a capital gains report for you with one click. The report generated by such platforms is so perfect that you can pass it on to your auditor without double-checking. Apart from this, there are other reports as well and the platform should just like the CG report make and provide you with these reports that you can document further.

Device Availability

There are tasks for which you prefer mobile and then there are tasks for which you prefer a PC or laptop. Similarly, when it comes to a mutual fund investment platform you should always consider using a platform that has an app as well as a website. Using the app for verifications and other menial stuff while using the website for heavily loaded stuff is the preference for many.

Upper limit

There always needs to be an upper cap on the amount that you can invest in mutual funds. A lot of platforms allow you to transfer money via UPI or net banking method and in that case, you can spend a maximum of 5 lakh rupees a day. However, you can check on the internet as to how you can invest more than that sum in a day, but it is better to have a platform that sets a healthy upper limit to make sure your money is safe with you.

Additional tasks

Over the years you will come across various situations where you will need a change of address, marital status, address, phone number, etc. When such a situation comes, the platform should be enough in itself to help you make these changes instead of sending you over to another institution or app to get the work done.

So, if you come across any platform that has all these qualities or even half of them then you should know that you are looking at one of the best if not the best online mutual fund investment platform in India.

The Best App for Investment in India

Zerodha homepage best app for SIP investment

You could put out surveys, get voting done, have polls organized, or even fight over it, but you will not have one fixed answer. The reason is it is a matter of preference that is different from user to user. Let’s say I prefer Zerodha as the best app for investment in India for me, but that may not stand true for someone else who might like Upstox. And then there are people who prefer 5 Paisa.

The issue in picking the best investment app is that no app is perfect and each and every one of them will come with different features and qualities that may be better or more useful than the other. Apart from it, certain apps support a particular bank or payment method over the other which might again act as an important factor in determining one’s choice of the best investment app.

Each and every investment app will have one or the other benefit over the other, and we would not want to bear the brunt of our readers. Thus, with that being said, it is always recommended that you do your own research and check which app works the best for you and go with it to ensure that you don’t face many troubles along your investment journey.

But to put things into perspective, Zerodha does enjoy a high user base and indirectly holds the number 1 position in the investment app segment while its popularity still continues to grow slowly and steadily. Let us now learn about the best app for SIP investment.

Also Read: What do we mean by Exit Load in Mutual Fund?

The Best App for SIP Investment

Groww homepage | best app for SIP investment

Head to the App Store or Play Store or even on Google and you will come across tons of self-proclaimed best SIP investment apps. But do you know how to find the best app for SIP investment? You make sure that you are looking for an investment app that has the qualities mentioned by us above. An app is truly the best platform only when it has at least more than half of the qualities mentioned above.

Once you have found those qualities in a platform you know you have one of the best apps if not the best. However, again the problem when talking about one best app is that you just cannot give away the spot to one particular app because it is impossible to come up with one unanimously. Many apps like myCAMS Mutual Fund App, Kuvera etc. are great for investment but ultimately the decision will remain subjective.

Among the most popular apps, Groww has been doing pretty well ever since its launch and has a huge user base which might prompt some to say that it is surely the top SIP investment app around.

So, after a lot of deliberation, we arrive at this juncture where we must now leave you to conduct your own research. You have a list of points to keep in mind to determine the top investment platform. We hope you learned about the best online mutual fund investment platform India, the best app for investment in India and the best app for SIP investment. It is your time to invest!

Sushma Singh

Sushma is a full-time blogger and financial expert. Join Sushma and 10,000 monthly readers here to learn how to save and invest your money wisely.