The internet has made so many things easy for us. From searching for a word’s meaning to shopping and investing, everything can be done through a simple touch from the comfort of your home. Fintech companies have made investing so simple and easy that people are no longer afraid to invest money online. As technology evolves, we can expect investing to become even more effortless. Read to find out the things to consider before choosing an investing app and the best apps for investing money in India.
A host of investment apps are available, and sometimes it gets confusing to choose one. Here are a few tips to help you choose the best investing app.
Some investing apps offer a wide variety of investment products, while some offer limited options. If you want to invest in diverse investment products and see all your investments in one place, then choose an app with multiple options. If you are looking for a simple investing solution for a certain set of goals, then choose an app with limited options.
Different investment apps charge different fees. Some charge an upfront fee, while others charge for each transaction separately. Hence while investing, make sure you check that the fee the app charges is within your budget. Always go with the app with fewer fees to magnify your returns.
Most apps are designed keeping beginners in mind. However, some apps can be difficult to use for some investors as it gets difficult for them to understand technology. Hence, you must choose an app that is easy to use.
In online investing, you don’t see the person with whom you’re investing through. Hence it becomes important to choose an app with good customer support. Before investing, check for the customer support the app is offering. It can be either through email or phone.
Investing apps do not offer any independent advice to investors. However, they offer research on stocks and curate portfolios based on goals. These apps have in-house analysts who also rate top investments from time to time. Moreover, these apps offer value-added services like portfolio scanning and monitoring. So, if you want independent advice, go with individual advisors. However, go with investing apps if you are looking for basic and generic recommendations.
With the never-seen-before growth of investors in India at an all time high over 7% , you can try out Jupiter for investing in Direct Mutual Funds. What’s best about this app? There is no penalty if you miss the SIP.
Some of the salient features of Jupiter:
→ No-Penalty SIPs: skip an upcoming SIP at no charge.
→ Save up to Rs. 750 in Penalties each time
→ Earn 1.5% extra returns (compared to regular funds) by investing in Direct Mutual Funds
We have shortlisted investing apps based on App store ratings. Check out the top 10 investing as per the Apple store.
Smallcases are modern investment products that will help you build a low-cost, diversified portfolio for the long term. A smallcase is a basket of stocks and ETFs (exchange-traded funds) curated to reflect an idea. Through the smallcase app, you can invest in readymade portfolios (smallcases) managed by professionals or create your portfolio. The app offers a diverse collection of portfolios consisting of individual stocks based on a theme. Some portfolios also allow you to invest in gold.
Following are the benefits of investing through Smallcase.
Ind Money is a Super Finance app that helps you track, save, plan, and invest. You can track your expenses and investments across brokers and distributors. Besides helping you track your investments, Ind Money also gives portfolio recommendations based on your goals and risk profiling.
Using the app, you can invest in stocks, IPOs, mutual funds, fixed deposits, bonds, portfolio management services, insurance, and US stocks. Moreover, it gives its gold members personalised investment advisory and financial planning services.
Following are the benefits of investing through Ind Money.
Paytm Money is India’s fastest-growing trading and investment platform. It is an all-in-one investment and wealth management app offering stocks, IPOs, futures and options, mutual funds, ETFs, FDs, and NPS.
Following are the benefits of investing through Paytm.
ET Money is an investing app that allows you to invest in direct mutual funds. Apart from mutual funds, it also offers FDs, NPS, and insurance. You can invest, track, and manage your mutual funds in one place.
Following are the benefits of investing through ET Money.
Groww is an investing app that offers mutual funds, stocks, intraday trading, futures and options under one app. It offers 100% paperless onboarding allowing you to open a free demat account from the comfort of your home.
Following are the benefits of investing through Groww.
Moneycontrol gives the latest updates on Indian and global markets. All news about the financial markets can be read on this app. You can also track and monitor all your investments in one place using the app. It also allows you to invest in mutual funds.
Following are the benefits of investing through Moneycontrol.
Bajaj Markets is an all-in-one app. It offers loans, insurance, credit cards, and investments under one umbrella. The app gives instant approval on loans at the best interest rate without collateral and minimum paperwork.
Following are the benefits of investing through Bajaj Markets.
It is an investment platform offering stocks, mutual funds, digital gold, IPOs, futures, and options. Apart from investing, it also helps you track your investments in one place.
Following are the benefits of investing through Upstox.
Kuvera is the first free financial planning and investment platform. It offers mutual funds, FDs, stocks, US Stocks, EPF, and gold in one platform. It helps set goals, allows family accounts for investments, and gives insights into investments.
Following are the benefits of investing through Kuvera.
It is a share trading and investment platform that allows you to invest in shares, mutual funds, US stocks, commodities, futures, and options. It allows you to open a free demat account and pre-apply for IPOs. Its smart tools, like IPO predictor, helps predict listing gains.
Following are the benefits of investing through Angel One.
Before selecting an investment app, check for its features and benefits. Choose the one with the lowest costs and good customer support, and start investing based on your goals and risk tolerance levels.
There are so many apps in the market, and choosing one is difficult. Analyse each app based on its expenses, customer support, usability, and investment options. Then select one app based on your requirements.
Investments through any app are safe as they have to adhere to SEBI’s guidelines. Check for the app ratings and reviews on the play store or app store, and go with more reliable names. If the app is transparent about its fee structure and registered with SEBI, then it is trustworthy.
You can start investing money through any of the investment apps. They all have paperless KYC that allows you to start investing in no time.
If you are new to investing, it’s better to invest in mutual funds. It will give you equity exposure and help you understand the markets. You can start investing through any app that allows you to invest in mutual funds.
You can make money by investing. Investing helps your money work for you. All you have to do is start investing in mutual funds and stocks through any of the investing apps to start accumulating wealth.
You can begin your investing journey in India with any of the best investing apps mentioned above. All of them help you reach your financial goals. However, it is important to choose investments carefully. Invest only in those securities that align with your goals and risk tolerance levels. Assess your resources and goals before investing. Many investing apps help you invest based on your goals.