Are you looking to start mutual funds investment through mobile apps? If yes, then you are at the right place. Today I will discuss the 10 best mutual fund apps in India 2023.
We all earn money. But what we all forget to do is manage the money properly. There are many of us who spend our entire earnings. But it is not right. Every human being should invest some part of their earnings. Apart from the stock market, real estate and gold, mutual funds are another good investment option. You can be financially stable by investing in mutual funds for the long term.
A few years ago, in order to invest in the stock market, and mutual funds, we had to take the help of a stockbroker. But now technology has become so advanced that we can track everything from our mobile phones by investing in mutual funds. All we need is a bank account and proper knowledge.
Today I will discuss with you this article about Best Mutual Fund Apps in India 2023. Like you, I invest in the stock market, and mutual funds and these are the best investment apps I’ve ever seen. In addition to these, there are many other apps with which you can easily invest in the stock market and mutual funds.
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Best Mutual Fund Apps
There are tons of the best mutual fund apps in India available to download and invest money online. But the fact is that is not our talking point. I have researched a lot and found these apps that users loved the most in order to invest money in mutual funds.
|Mutual Fund Apps||Referral Benefits||Download Link|
|1. Upstox||₹200||Download Now|
|2. Groww||₹200||Download Now|
|3. Paytm Money||₹300||Download Now|
|4. Zerodha||10% for lifetime||Download Now|
|5. 5Paisa||₹300+12.5% for lifetime||Download Now|
|6. INDmoney||₹500||Download Now|
|7. PhonePe||₹150||Download Now|
|8. SBI Mutual Fund||₹300||Download Now|
|9. HDFC Mutual Fund||–||Download Now|
|10. ICICI Mutual Fund||–||Download Now|
1. Upstox Mutual Fund App
This is one of the most popular investment apps in India. In this app, we can invest our money in stocks, mutual funds, and IPOs in order to grow money. Investors can use this app very easily thanks to its user-friendly interface. You need to open an account here to invest in mutual funds or the stock market. The Best Part is that you don’t have to pay any account opening charges or AMC. There are different apps available in the play store such as Upstox Old and Upstox New. I feel Upstox new app has the best and easy interface.
In this app, you will get to see an option called ‘Discover’, here you can find the ‘Mutual Funds’ option. By tapping on this option you can invest in various mutual funds listed on this app. Also, you can invest in ‘Tax saver funds’, ‘Low Risk’, ‘Growth Booster’, ‘New Funds Offerings’ etc. You can start from as low as ₹10.
By tapping on any mutual fund option you can start your mutual fund investment. There will be two options Start SIP and One Time. Thereafter selecting the frequency of SIP, date to deduct the amount, lock-in period and the amount you can start your mutual fund investment through the Upstox App. I think Upstox is the best mutual fund app in India 2023.
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2. Groww Mutual Fund Apps
If you have any idea about the stock market or mutual funds then probably you have heard about this app before. I feel the Groww app is one of the best mutual fund apps in India 2023. This app comes with a very easy and user-friendly interface. I have used 7-to 8 best investment apps so far in my life. One thing I can assure you is that this app has the easiest interface. Any individual can use this app without any hesitation.
You have to open your account on this Groww app first. As soon you open an account on this app, they will deposit ₹100 in your account. You can invest this money to learn things without paying anything. On the ‘Popular Funds’ option, you can check all mutual funds listed on this app. Apart from this, you can check more funds like ‘High return’, ‘SIP with 500’, ‘Better than FDs’, ‘Tax saving’, ‘Top companies’, ‘Sector Bets’ etc on the ‘Collection’ tab.
Simply tap on any fund and then select between ‘One Time’ and ‘Monthly SIP’ to start a mutual fund investment. Then add money and tap on ‘Invest Now’. You have to select monthly SIP date, year and a lot more things too in the advanced option.
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3. Paytm Money Mutual Fund App
We all know about the Paytm app. 90% of us use UPI in our daily life. Paytm is one of the most popular UPI apps in India. Paytm has a separate app for stock and mutual fund investment which is Paytm Money. You can start mutual fund investment through this app from as low as ₹10. Firstly, you need to create an account to start investing.
This mutual fund app is very easy to use. It will take only 30 mins to create your account here. All the processes are paperless. So, create your account here and start investing. I personally feel Paytm Money is one of the best mutual fund apps in India 2023. It’s because you will get a 1% higher return in this app. And also, this app will provide Rs 300 for each new referral. It does not come with any AMC or account opening fee. However, it charges ₹30+GST/month as platform fees.
Also Read: Groww vs Zerodha vs Upstox
4. Zerodha Mutual Fund App
With Zerodha, you can start SIP at any time. Also, it will give you an option where you can modify your SIP details. Zerodha is the no 1 investment app. So, no doubt why people claim it is one of the best mutual fund apps in India 2023. Zerodha has t
Many financial advisors think that Zerodha is the best stock and mutual fund app in India. It has a lot of reasons. One could be the simplest interface of it. It has two separate apps Kite for investing in stocks and Coin for investing in mutual funds. However, to access any of these apps you have to open a Zerodha account which charges ₹200 as account opening fee and 300+GST as AMC charges. So I think those only want to invest in mutual funds can choose other brokers. However if you want to invest in mutual funds along with stocks then you should consider Zerodha.
5. 5Paisa Mutual Fund App
If you want to look for a different kind of mutual fund app then 5Paisa could be your solution. It comes with many interesting and new features. Such features are Stock SIP, VTT, refer and earn offer etc. If you refer a new friend then you will get Rs 200 free and 12.5% brokerage sharing when your referred friend opens a 5Paisa account.
This article is all about the best mutual fund apps in India 2023. So, it’s better to stick with it only. You can start your SIP or mutual fund investment through the 5Paisa app also. In this case, you will get to see an option in the User tab called ‘Mutual Funds. From there you can choose the top and popular funds and start investing within a few minutes. Please keep in mind that the minimum investment amount is Rs 500, Rs 100, Rs 1000 or Rs 150 depending on what type of mutual funds you are choosing.
6. INDmoney Mutual Fund App
Apart from Paytm Money and Upstox, INDmoney is the best investment app that I liked the most. It’s one of the reasons is it will track all your investments, account balance, net worth everything in one place. You can invest in Indian and US stocks from this app only.
In the INDmoney dashboard tab, you will get to see your net worth. They will calculate it by reading your messages and you can put in extra data as well. This app will suggest you a few more investment options as per your age also.
There is an + icon in the below section of this app. By clicking here, you can invest with zero commission on fixed deposits, mutual funds, US stocks, bonds, and Indian stocks easily.
Some popular mutual fund options in this app are high return, tax saving, gold, build wealth, short term, park your cash, index funds, large-cap, mid-cap, Flexi cap, global funds, small-cap, NIFTY 50, NIFTY 100, Liquid funds etc.
By choosing any mutual fund option here you will get to see a lot of subcategories. Where they will show every possible detail there like risk preference, market-beating returns, graph, chart, minimum investment amount, lumpsum or SIP etc.
7. PhonePe Mutual Fund App
I use this app a lot in my daily life. The primary usage of this app is recharge, bill payment, money transfer etc. But now they are evolving too. Users can start small investments through the PhonePe app too. Here in this app, you will get to see options like liquid funds, small-cap funds, tax-saving funds, digital gold etc.
If you don’t have money to invest then you can start referring your friends to join this app. If they join through your link and make payment for the first time then you will be rewarded with Rs 100 PhonePe wallet balance. This money can be used to recharge, pay bills or invest online through the PhonePe app. This is the reason I feel PhonePe is also one of the best mutual fund apps in India 2023. There are more than 200+ mutual funds available in the PhonePe app. You can choose any option and start investing easily.
What is SIP?
The full form of SIP is a Systematic Investment Plan. A mutual fund provides this facility. It helps investors to invest their money in a systematic way. SIP allows us to invest a fixed amount of money in a pre-defined time. SIP could be monthly, weekly, quarterly, semi-quarterly or yearly basis. You can start a Time Investment or Monthly SIP from any online mutual fund app.
The minimum investment amount in SIP is Rs 100. Many mutual fund apps provide SIP modifications. This allows you to change the date or the amount of investment at any time. By using this you can get benefits in the long run due to the power of compounding and time-to-time investment.
One Time vs Monthly SIP
If you have some idea about mutual funds then you might have heard about One Time SIP and Monthly SIP. These are the two options that your mutual fund app provider will always show you before you are making an investment.
Many beginners found it slightly difficult to understand. So, let me clear it. When you are making a mutual fund investment with some amount you are not gonna pay in future then it is called as One Time SIP. But if you are making a mutual fund investment for some amount and you are going to pay the same amount each and every month at some specific date then it is called a Monthly SIP.
Many users use the auto-pay option on monthly SIP because they want to invest the amount automatically from their bank account. What I have seen is the minimum investment amount in a one-time SIP is Rs 5000 and the minimum investment amount in a monthly SIP is Rs 100, Rs 500, Rs 1000, Rs 150 etc. But not more than that.
How to Invest in Mutual Funds?
Mutual fund investment is not so difficult. You just need an account in any mutual fund app and then you are good to go. Follow the below steps to invest in Mutual Funds-
- Download and install any investment app.
- Create your account there.
- Find and tap on the Mutual Funds option.
- Check all the mentioned funds and choose one of them.
- Then select an option between ‘Monthly SIP’ and ‘One Time’.
- Enter the amount and tap on the ‘Review’ option.
- If you have chosen ‘Monthly SIP’ then select the date of the month, frequency of SIP and years of investment.
- Enter your Bank details and tick all the boxes.
- Once you have entered all the details, tap on the ‘Place Order’ option.
Which is a better mutual fund or FD?
No doubt about it that mutual fund is far better than FDs. As you all know, the full form of FD is Fixed Deposits. Basically, if you don’t want to take any risk then FD could be the best solution for you. Although it won’t give you good returns short time. But if you calculate and invest your hard-earned money in mutual funds from time to time then over 10 years or 15 years you will get to see your money is working for you like crazy.
My advice will be to learn how things work and then start investing. I did not have any idea about mutual funds before thus I had not invested there. But now I learned it and I started investing my money in mutual funds and stocks. And slowly it started working for me.
Is Mutual Fund a good investment?
Yes, a mutual fund is a good investment option. But it depends on you what type of mutual funds you have chosen or for how many years you are going to invest and the amount of investment everything plays a big role.
Mutual funds, the stock will grow over time. You won’t get to see crazy results in the next two or three years. But if you will invest a good amount each month or year for a longer period then you will start seeing results 10, 15 or 20 years later.
FAQs: Mutual Fund Apps
The full form of SIP is a Systematic Investment Plan.
You can start SIP one time or monthly from as low as ₹100. Whereas some apps come with a minimum amount to start SIP is ₹500.
Yes, you can withdraw SIP anytime. But before going to withdraw your SIP full or part, first check all your SIP’s are shut and stop your next SIPs.
It is depending on what type of mutual funds you have chosen. Some mutual fund comes with the minimum investment value option of Rs 5000 whereas some fund comes with a minimum investment value of Rs 500 or even Rs 100. If you are going to invest for one time the maximum funds will ask you to pay Rs 5000 whereas monthly SIP will ask you to pay a minimum amount of Rs 100 or Rs 500.
Final Thoughts: Mutual Fund Investment
Till now, you have read about the top 10 best mutual fund apps in India in 2023. You may have seen advertising on TV saying that ”mutual fund is subject to market risk, please pay responsively at your own risk”. I truly respect this statement and you should too.
Let me tell you why. Just assume, you have invested Rs 10,000 in a one-time option in the bull market (prices are rising) and you have sold all your funds in the bear market within a short period of time. Then ultimately, you will lose some of your money without gaining profit.
That’s why before making an investment you have to understand how things work. Without knowing it, it will be tough for a beginner to invest money in stocks, mutual funds or IPOs. That’s why our parents never allow us to invest in mutual funds or stocks. Because they think we will lose our money.
I started investing money in PhonePe liquid fund and ended up losing a few hundred rupees. The reason was simple- my inexperience. But now after watching a lot of investment videos, self-learning and reading a few blogs, I learned the basics of it. Now in this current market situation, my portfolio still looks fine. And I am consistently investing money in monthly SIP. My focus is not to make money in quick time. I just researched, invest and let my money work for me in the next 10, 15 or 20 years later. Let compound interest do the hard work for me.