December 9, 2019

Top apps that you can use to start your SIP right now

Investing in SIPs has become as easy as ordering lunch from your favorite restaurant. With the plethora of apps that are launched in the market, choosing the right one becomes more difficult. We bring you the top apps that you can use to make your mutual funds investment via SIPs easy.


1 Your Netbanking account

If you have netbanking account activated, you can start your SIP from your bank account. Please check with your bank on how to activate this facility. Once activated, it is very seamless to purchase, redeem and sell mutual funds via your bank account and all your transactions can be easily accessed. Banks typically charge a commission on the mutual funds bought via their platform.


2.Paytm Money

Paytm Money is a pioneer in creating the market for a 0 commission mutual funds platform in India. Paytm Money is backed by Paytm, the leading payment platform in India. It offers direct plans across all fund houses and also has a super intuitive on-boarding process which sets it apart. If you are starting out first, I would recommend you to try out Paytm money.


3. ET Money

ET money claims to be India’s most trusted app in India. They also offer direct funds where you can earn upto 1% extra returns. ET Money is backed by the Times Group which is India’s No 1 media company. In addition to Mutual funds, ET Money also offers Loans and Insurance which enables you to manage your financial health from one single platform.

ET Money is rated 4.6 by 84K+ users on the Google Playstore making it the app with the highest number of ratings.


4. Groww

Groww is a fast growing app that allows you to invest in Mutual Funds without any commission. They provide direct mutual funds from the top fund houses giving you approx 1.5% extra returns. They claim to have 20 lac users and are backed by world class investors like Sequoia. 26K+ users rate them 4.6 on the Google Playstore which is one of the highest ratings in the category.


5. MyCAMs

CAMS is Registration and Transfer Agent (RTA).It provides various backend services & physical infrastructure to Mutual fund houses. myCAMs is app launched by CAMs as an value add on top of their backend & infra services. The advantage of myCAMs is that it gives a consolidated view of all your transactions by your PAN card, for all the represented Mutual Funds. For Mutuals Funds that are not part of the CAMs ecosystem, like UTI, Franklin Templeton etc, you will either have to use another app or the Mutual funds own app or website.

myCAMs is rated 4.4 on Google Playstore by 45K + users.


6. Orowealth

Orowealth is another service that allows you to invest in Direct Mutual funds via the SIP option. What sets Oro wealth apart is that they offer advisory services along with dedicated financial experts to guide you. They also offer a portfolio recommendation service known as OroAssist that scans your portfolio constantly and suggest recommendations to rebalance your portfolio.


7. Coin by Zerodha

Coin by Zerodha is another player in this space. They were one of the first platforms to offer direct mutual funds. They are owned by Zerodha which is India’s No 1 discount brokerage service.


8. Kuvera

Kuvera is a goal based Mutual funds investment app. You start with the goal that you want to achieve and they will provide a plan to achieve that along with a visual representation on where you are on the plan. Kuvera also offers 0 commission based direct plans that helps you save on commission.

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