Best Mutual Fund Apps & their Features

Invest in Mutual Funds using your smartphone with Mutual Fund Apps

Key Takeaways

Mutual Fund apps allow you to invest on-the-go.
You can download the apps from Android and iOS App stores.
The best Mutual Fund apps provide detailed research reports.
They enable you to track your investment portfolio on a single platform.
They ensure your investment details are secure and encrypted.

The beauty of investing in Mutual Funds is that there is something for everyone. Based on your risk appetite, you can invest in safe Debt Funds generating fixed returns, riskier Equity Funds generating high returns or Hybrid Funds that balance your risks and returns. You can invest lump sums or through Systematic Investment Plans (SIPs). Today, you can conveniently invest in Mutual Funds on many online and offline platforms, but the most popular way to invest on the go is through Mutual Fund apps. Read on to know more.

What is a Mutual Fund App?

A Mutual Fund App is an online and mobile platform to invest in all kinds of Mutual Funds. Available on internet-enabled smartphones, you can download a program or application on your mobile phone and use it to invest in Mutual Funds. You can download Mutual Fund apps of the Asset Management Company, bank, or brokerage firm with which you have your Mutual Fund investments. The apps are freely available for downloading from the Android Google Play Store and the Apple iOS App.

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Features of a Mutual Fund App

Most Asset Management Companies and Brokerage Houses have their eponymous apps for Mutual Fund investing. However, the best Mutual Fund App typically has the following features.

It should allow you to invest per your preferred investment method

The best Mutual Fund apps are those that enable you to invest per your preferred investment method. The app should have the necessary software to allow you to make a one-time lump sum investment or make systematic investments in frequent instalments via SIP.

It should provide research reports

The best app for Mutual Fund investments is one that not only enables you to invest remotely but also provides you with research reports about the performance of Mutual Funds across short and long-term market cycles. The app should have intuitive software that analyses your risk appetites, objectives, and investment patterns and recommends Mutual Fund schemes based on such analysis. For instance, if you typically invest in equities, it will recommend ELSS Mutual Funds that help generate higher returns while empowering you to save taxes.

It should provide Real-time tracking facilities

One of the key features of a good Mutual Fund app is that it allows you to track the real-time value of your Mutual Fund portfolio. It generates the daily value of your individual and collective Mutual Fund schemes and shows you the NAV of each Mutual Fund unit for the day. This way, you can keep a hawk’s eye on your investments, invest when the markets are low, and redeem your funds when you stand to gain profits. The app also shows your expense ratios and tax liabilities on redeeming fund units.

Final Note

While investing in Mutual Funds via apps, you typically have to link your bank account to debit and credit funds when you invest and redeem, respectively. The best app for Mutual Fund investments utilises robust, secure systems that protect your bank information via biometric and secret PIN authentication methods. Such apps ensure your banking information is always secure.

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*Disclaimer: This article is for information only. We recommend you get in touch with your income tax advisor or CA for expert advice.