Almost every financial year, a lot of people plan to start mutual fund investments or think of managing their investment portfolios, but get too intimidated by the complex investment world and traders. For anyone who is looking for easy and quick investing options, the app world offers plethora of mobile apps to dispel any investment woes. We bring you some free Android as well as iOS mobile apps, which make investments uncomplicated, and ensure that money management remains in your hand, quite literally.
One of the most rated apps on the Android store as well as on iOS store, Piggy mobile app allows you to invest in direct plans of mutual fund investment schemes offered in India. The app lets you complete paperless sign-up within two minutes. Upon signing up on Piggy, you will be able to do investment planning to reach your financial life goals, as well as tax planning. Piggy comes with the latest security measures in place, it encrypts the data and transactions and secures it with a 4-digit personal pin for quick login. The app converts important details and data in graphical form for better understanding. The app has a separate section for the latest news, opinions and educational articles for informed decisions. As of now, the app has real-time details for over 600 mutual fund schemes from 25 mutual fund houses in India.
MyCAMS, a mobile app by CAMS, is co-owned by NSESIC, a subsidiary of National Stock Exchange, HDFC Group and Acsys Investments. It brings great digital convenience to the users since all asset management companies (AMCs) do not have apps and there’s a limit to the number of apps you can download on your smartphone. The myCAMS mobile app is a single gateway to multiple mutual funds including majors like Birla Sunlife MF, HDFC MF, ICICI Prudential MF, SBI MF, to name a few.
The users do not have to remember separate logins and password for each mutual fund they have invested in, as the app gives a consolidated view of all the funds with a single login ID. MyCAMS app also lets an user schedule a future transaction in a tap. The company says that around 400,000 users use myCAMS app to manage their mutual fund investments. The app is available on Android as well as iOS store. On Android, it has clocked around 5 lakh installs.
For those, who find mutual funds and investments too complicated, Finozen comes as a saver. Normally, if we are not aware of where and how to save money, we settle for locking our banked money into fixed or recurring deposits, for which we will have to lock the money for minimum one year. But with FinoZen app, one can park money within the app, and the company behind the app invests the money in selected ultra-short term debt fund or liquid funds.
These are a type of mutual funds which are relatively safe and generate stable returns of up to 9% per annum, with no lock-in period. In this app, the interest earned per annum, is credited on a daily basis since the money is invested in daily dividend option. The user can transfer the parked money to their registered bank account anytime. Once you sign up for a new account, enter your bank details, and go ahead with a minimum amount of R500, you will see every day some money being added to this money. The app is as of now only available on Google Play store, and has marked between 10,000-50,000 installs.
BSE StAR MF
Making trading in mutual funds more convenient for investors, top stock exchange BSE too has launched its BSE StAR MF mobile application this year. However, it is too soon to figure out how good or bad the app is, but it claims to have a range of services for easy transactions and seamless order flow for AMCs. The app has clean and uncluttered interface, with search tab on top of each mobile page. Since its launch in January 2017, the app has already clocked between 5,000 to 10,000 downloads. It is currently available to Android mobile users. However, the app is only accessible to clients of BSE StAR MF members.