Most of these investment apps allow both new and experienced investors to manage their investments. With a variety of convenient services, these help investors save money and improve their portfolios.
Times are uncertain, the world outside is changing rapidly. Even though we are locked in our homes, the pandemic is creating havoc over the world economy and the global markets, because of which investors are confused and anxious about financial stability. The COVID-19 has brought a question mark over the financial space, and to help investors keep up with the momentum, various platforms are currently helping them in their financial journey.
Most of these investment apps allow both new and experienced investors to manage their investments. With a variety of convenient services, these help investors save money and improve their portfolios. Industry experts say, there is not one particular app that everyone can use. As every investor’s needs are unique, hence, an investor should choose an app that will help them manage their finances best and achieve their investment goals.
Here are the top 5 favored financial apps that help investors manage their finances:
Groww: This investment platform is most popular among millennials. It helps investors keep track of their portfolio and invest in mutual funds across all AMCs in India in one place. The platform also creates personal finance content to help its consumers better understand their finances. To help investors gain insights, the platform has also established active communities both online and offline where investors can interact and learn from peers. There are many in-app resources as well where novice investors can interact with the investor community and learn the nuances of investing via educational content. Groww has also recently announced its launch of stockbroking services for its customers. The platform employs bank-grade security features on their app.
Kuvera: Kuvera is another zero brokerage mutual fund investing platform. It has a simple interface through which investors can set their financial goals and also do their research on funds. Signing up on this platform is simple, wherein the KYC is PAN-based so that the investors are not required to upload any other documents.
Zerodha Coin: This is an initiative taken by the online discount broker Zerodha. Zerodha Coin is for investors investing in direct mutual funds. It provides the facility to buy mutual funds directly from 40+ Asset Management Companies (AMCs). These mutual fund investments can be started, stopped, or edited at any time as per the user’s preference. Some of the key advantages of Zerodha Coin are zero commission and also that it a single platform for all kinds of investments like equity, currency, commodity, and mutual funds.
myCAMS Mutual Fund App: myCAMS provides a single gateway to invest in many mutual fund schemes. The app is easy to operate and offers investors smarter ways to deal with direct mutual funds. The App comes with various features including Mobile PIN and pattern login. Investors can open new folios, purchase, view their MF portfolio, redeem, switch, set up SIP, through this platform. It also has a scheduling option which helps investors to set up future Mutual Fund transaction.
Paytm Money: Paytm Money is the stockbroking and mutual fund distribution platform of Paytm. Currently, the company is in partnership with 25 AMCs. Users can start investing either through lumpsum or SIPs with as little as Rs 100 in some of the schemes. Paytm has also tied up with rating services like MorningStar, CRISIL, and Value Research to ease the investment decision process for the investor.