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Home / News / Business News / #FinancialBytes: 6 best apps for investing in mutual funds
Business

#FinancialBytes: 6 best apps for investing in mutual funds

#FinancialBytes: 6 best apps for investing in mutual funds
Written by Ramya Patelkhana
May 04, 2018, 05:12 pm 3 min read
#FinancialBytes: 6 best apps for investing in mutual funds

Today, mutual funds have emerged as one of the hottest investment choices for all investors as they are easy to invest in and also suit every budget. Mutual funds (MFs) deliver good returns and are managed by professionals; they also offer various options, allowing investors to withdraw their investments anytime. Here are 6 mobile apps using which you can invest in mutual funds.

Mutual Funds
What exactly are mutual funds?

Basically, mutual funds are collections of stocks or bonds that are managed by professional fund managers on behalf of the investors. These managers track the growth and performance of the investments and make alterations to ensure best possible returns while avoiding risks. People can invest in mutual funds in two ways - lump sum payment or SIPs (systematic investment plans) at regular intervals.

myCAMS
myCAMS brings world of digital convenience for Mutual Fund Investing

myCAMS is probably India's most popular app for mutual fund investments; it is available for Android and iOS. Users can invest in direct and regular mutual funds online; the app gives users access to best mutual funds through a single, secure gateway. They can also view/track their existing portfolios and also set-up SIPs. Users can create a watchlist for funds they want to track.

FundsIndia
FundsIndia app makes mutual funds investments simple and quick

FundsIndia is another popular mobile app for mutual funds available for Android and iOS. It's an easy-to-use app that's among the most preferred options even for first-time investors. One can start investing instantly after e-KYC verification and also start SIPs. The minimum amount for SIP investment is Rs. 1,000. Investors get dedicated investment advisors. Also, its robo-advisor, Money Mitr, provides personalized goal-based recommendations.

Scrpbox
Scripbox app lets you learn, plan, invest in mutual funds

Scripbox app (Android, iOS) lets users learn about money, investing, and wealth creation. They can also efficiently save and invest their money in MFs using the right investment options. Users only need their Aadhaar and PAN details to sign up for Scripbox to start investing in carefully selected mutual funds suiting their needs. They can begin investing as low as Rs. 1,000 per month.

Saveabhi
Saveabhi automates investment of user's savings into mutual funds

Saveabhi is a unique app that lets users put daily "spare change" into mutual fund investments. Its "Save the Change" concept promotes small-yet-regular investments. It saves spare change from users' debit/credit/digital transactions by rounding up spends to the nearest hundred. Once the collected spare change crosses Rs. 500, it's invested in MFs. It offers two MF schemes: a low-risk, conservative scheme and aggressive scheme.

FinGo
FinGo app by Birla SunLife Mutual Fund

FinGo is another popular mutual fund app from Birla SunLife Mutual Fund available for Android and iOS. It lets users invest and transact (purchase, redeem, switch) in mutual funds. They can choose to invest in SIPs or lump sum. They can calculate return on investment using SIP calculator. They can plan investments as per financial goals and review their BSLMF account statement in real-time.

KTrack
KTrack, the personal mutual fund manager by Karvy

KTrack is an app from Karvy Mutual Fund Services provided to investors; it is currently available for Android. The mobile app allows users to transact and invest in mutual funds through SIP or lump sum. It offers access to the user's mutual fund portfolio and lets them view common account statement. The app can also keep the user's data automatically consistent across devices.

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Ramya Patelkhana
Ramya Patelkhana
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Ramya Patelkhana is a senior editor at NewsBytes. She has nearly seven years of experience in digital journalism and has previously worked with India News and Authint Media. She has a Bachelor's degree in Journalism and Mass Communication from the IK Gujral Punjab Technical University, Kapurthala, and an advanced diploma in Media Studies from IPW, New Delhi.
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