Planning to invest in SIP? Try these top 5 mutual fund investment apps

There are several mobile apps available on the tip of your fingers to install and start investing in direct mutual fund schemes. The biggest advantage of using a mobile app for buying and selling mutual funds is the convenience and ease of transaction. However, there are few apps to share schemes with direct mutual funds, which help you in saving extra commission of 1-1.5 per cent, which you pay to your agency or distributor. All the mutual fund houses offer direct plans for their schemes. Investors can invest in these schemes from the website of the MF house. Investors can also transfer their existing investments in regular plans to direct plans. There are few mobile apps which will allow you to invest in direct schemes of mutual funds without any fee. Here are a few apps which you can use for this purpose.

Speaking on the requirements for an investor going for an app-based SIP or mutual fund investment Kartik Jhaveri, Director — Wealth Management at Transcent Consultants told Zee Business Online told, "While investing through a mobile app, an investor should have an understanding of investment category, risk and rewards involved in such investments, business cycle and economics, portfolio management based on the needs and circumstances and asset allocation." Jhaveri said that if an investor fulfills these parameters, he or she can go for direct mutual fund investment apps and save at least 1 per cent of the investment that goes in commission payments.

See Zee Business video below:

आसान भाषा में सीखें मार्केट की रिसर्च और एनालिसिस सिर्फ #ZeeBusiness पर वरिंदर बंसल और अनिल सिंघवी के साथ #ResearchGurukul में हर बुधवार सुबह 10:26 पर ।@AnilSinghviZEE @varinder_bansal pic.twitter.com/Afet3JXgZD

— Zee Business (@ZeeBusiness) February 26, 2019

Standing in sync with Kartik Jhaveri's views, Jitendra Solanki, a SEBI—registered investment advisor said, "Generally, these mutual fund apps provide list of the top performing mutual funds and they also use artificial inteligence that gives a cue about the funds that may give better returns in future." 

Asked about the major mutual fund apps that an investor can log in Solanki told, "There are a good number of mutual fund apps that provides mutual funds investment option. However, on the basis of the criteria which I have mentioned above apps like Piggy, KTrack Mobile App, myCAMS, coin and MoneyonApp can be the top five mutual fund apps that an investor can log in before making any investment decision." 

Hence, if you fulfill the criteria for app-based mutual fund investments, here are the top five mutual fund apps that can help you maximise your returns: 

1] Piggy

With Piggy, you can invest in direct plans of all the mutual fund investment schemes offered in India. Direct plans are commission free and give you higher returns. Signup by downloading the app to get started. Earn around 1 per cent more by investing in Direct funds through Piggy Mobile App. Real-Time details for all Mutual Fund Schemes from 35 Mutual Funds available in investments in India. invest in Liquid funds, Debt funds, Equity funds and Gold Funds on click and transfer funds online from your savings account.  Build your own customized portfolio as a personal tracker to monitor your investments and wish lists. The app has so far received 100000 + downloads so far.

2] KTrack Mobile App

This is personal mutual fund manager mobile App from Karvy. An investor can invest through lump sum 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 client's mutual fund portfolios at one place.

3] myCAMS

myCAMS brings a host of features - get one view of your MF portfolio, open new folios, purchase, redeem, switch, set up SIP and more. The app facilitates faster, easier and smarter ways to transact in Mutual Funds. myCAMS brings a world of digital convenience for online Mutual Fund Investing. Now you can open new folios, view existing portfolio, check Mutual fund NAVs, set up Systematic Investment Plan (SIP), opt for Common One Time Mandate (OTM) and do more across Mutual Funds serviced by CAMS through a single, secure gateway. Please consult your financial advisor, for investment related advice.

4] Coin

Invest in over 3000 commission free direct mutual funds across 34 fund houses and save up to 1% more per annum compared to regular mutual funds. Join 1,50,000 investors who have invested over 2500 crores and collectively saved 30+ crores in commissions.

5] MoneyonApp

With MoneyOnApp now invest in best performing mutual funds and SIP become easy and fast. This app helps you to make an investment in the right mutual fund which will get you good returns. ELSS is a type of mutual fund which helps you to save tax. We provide you options to save tax by investing in ELSS funds in a single click.