If you are looking for ways to invest in Mutual Funds in India online directly from the comfort of your home, then you will be happy to know that there are a lot of Mutual Fund apps and websites to help you out.
Technology is playing a vital role in almost every sector, especially in times like this, be it education or Investment. They are implementing new and innovative technologies to be faster, efficient, and reliable.
The Fintech (Financial Technology) sector is also growing at a very fast pace. With more and more people investing in stocks and Mutual Funds, there are a lot of new as well as old companies, who are getting online and releasing apps to browse, compare and invest in Mutual Funds.
You can register on the app, complete your KYC and start investing directly using payment options such as UPI, Net Banking, Debit or Credit cards, etc.
In this article we will be discussing the following:
- What are mutual funds?
- Direct Mutual Fund vs Regular Mutual Fund
- Top Apps for investing in Mutual funds
Let’s have a look at each of the topics…
What are Mutual Funds?
Mutual Funds are a type of fund where a company raises money from investors like you and me and invest it in stocks, bonds, or debt.
In layman’s term, a company invest your money on your behalf and give you a return on your investment.
Direct Mutual Fund VS Regular Mutual Fund
There are basically two ways in which you can invest in a Mutual Fund. You can either invest through a broker/distributor/agent or you can invest directly in a companies Mutual Fund scheme.
When you invest in a mutual fund scheme without the involvement of any broker/distributor/agent, you normally invest in the direct plan.
On the other hand, when you invest in a mutual fund scheme through an agent, broker, or distributor, you generally invest in the regular plan of a mutual fund scheme.
Top Apps to invest in Direct Mutual Funds
The list below will tell you about the top 4 Mutual Fund Apps available on Android and iOS that you can use to invest in Mutual Funds directly.
The apps are arranged in no specific order. The apps are considered trustworthy based on user ratings and popularity.
Let’s see each one of them separately.
1. Groww
The Groww app has recently become an extremely popular Mutual Fund App due to its zero brokerage on Mutual funds investments. Groww is an Online based investment platform that is mainly targeted at first-time investors and millennials.
It has currently become the most popular direct investment in Mutual Funds of various AMCs in India, especially among college students.
The company was introduced in the year 2016 and is relatively new to the discount broking market.
Key Features of Groww App for Mutual Funds:
- Direct Mutual Fund Investment options.
- Real-time market updates.
- Paperless Registration.
- Customized Watchlists.
- Covers most of the top AMC companies registered in India.
- Tracking external funds is made easy.
- Zero commission for Mutual Fund Investments.
You can download the Groww App on Android and iOS directly from the links given below.
2. ET Money
ETMONEY is an online investment platform that helps you in investing in Mutual Fund directly in India. It also helps you in tracking, managing, and redeeming your investments for free sitting at home.
Apart from Mutual Funds, the app also provides insurance policies, loans, and credit reports under one roof.
It is a Times Internet-backed company.
Key Features of ET Money App for Mutual Funds:
- Provides Personal Loan.
- Direct Investing in Mutual Funds.
- Completely Paperless Registration.
- Customized Watchlists.
- Covers most of the top AMC companies registered in India.
- Provide Investment ideas.
- Zero commission for Mutual Fund Investments.
You can download the ET Money App on Android and iOS directly from the links given below.
3. PayTM Money
Paytm Money is a transaction and advisory platform, using which you can invest in Direct Mutual Funds in India.
It also provides investment options in Stocks, Digital gold, ETF, IPO, F&O, and NPS retirement funds apart from MF.
‘PayTM Money‘ is a sub-brand of one of the largest Online Payment App in India, ‘PayTM’.
Key Features of PayTM Money App for Mutual Funds:
- Option to switch existing Regular Mutual Fund to Direct Mutual Fund.
- Direct Investing in Mutual Funds.
- Zero commission for Mutual Fund Investments.
- Completely Paperless Registration.
- Customized Watchlists.
- Covers most of the top AMC companies registered in India.
- Provides Mutual Fund Investment Advisory Services
- Multiple Payment Options
You can download the PayTM Money App on Android and iOS directly from the links given below.
4. myCAMS
myCAMS is a Computer Age Management Service that was started back in 1988. Back in the day, it started as a Mutual Fund Transfer agent.
‘myCAMS’ allows you to buy both Regular as well as Direct Mutual Fund Schemes.
Computer Age Management Services (CAMS) is a SEBI-Registered Registrar & Transfer (R&T) Agency.
Key Features of myCAMS App for Mutual Funds:
- Provides Mutual Fund transfer options.
- Direct Investing in Mutual Funds.
- Completely Paperless Registration.
- Risk management
- Covers most of the top AMC companies registered in India.
- Provide Investment ideas.
You can download the ‘myCAMS App‘ on Android and iOS directly from the links given below.
Investing in a Direct Mutual Fund scheme gives you almost 1 % more return as there are no agent commissions involved.
So use the apps mentioned above to invest in Mutual Funds in India directly.
Happy Investing!
(Disclaimer: Please note that the details are based on the date of writing this article and may vary. The information is for educational purposes only. Some of the links on this site are affiliate links. This means whenever you buy/install something using the links, you help support this website at no extra cost.)