How to Evaluate the Best Mutual Fund App in India

by Nishant Dhar Consultant

Investing and monitoring investment has become very common in India with the use of mobile phones. We look at a possible checklist in this brief article that will help you assess the mobile applications.

Checklist for Mutual Fund Apps

These are the parameters that can be used to assess the suitability of a mutual fund app in an approximately declining order of priority.

It is also possible to apply the same list to mutual fund investment online portals.

  • Access to direct plans
  • Transactions variety – SIP, lumpsum, transfers, etc.
  • Reporting, analyzing the portfolio
  • Import of investments already in place
  • Initial Startup
  • Advice on investments
  • Ease of payment

Detailed Checklist for Mutual Fund Apps

Access to both direct and regular funds

This is extremely critical. Many distribution-driven applications make regular plans accessible only. It is essential to have both direct plans and regular plans to choose from. If only regular plans are provided by the app or portal, do not use it.

Access to a multitude of transactions

Many investors has most of their investment in mutual funds through SIP. It is essential, however, that you can also invest a lump sum quantity. The mutual fund app should also have a simple switch, withdrawal, etc. interface. Some applications offer whistles and bells such as SIP pause, SIP top-up, etc.

Reports, Analysis of the portfolio

The more, the better. Reports are essential for tracking your portfolio, as well as for regular evaluation. Constant advances would be taking place in this region.

Ability to map your current portfolio

Many applications provide a way to 'import ' current investment information. This is very crucial and improves the third point.

Initial startup

This doesn't matter as much as the first three, basically because you only need this ease once. Many applications facilitate the first investment. This then lays the record of KYC, connecting bank accounts, etc. You need to do this one time, though. If the start-up is facilitated by an app and the first three points are also done well, you can choose it.


It's a touchy subject. Advisory is costly and the way the applications would cover the expenses is not evident. If the apps are upfront about the advice charges, it would be great. The advisory would also develop quickly, like reporting. Many applications could use robotic advisory to offer extensive suggestions at low or no incremental cost.

Money transfer ease

The app should support the banks and payment techniques you are likely to use. A comparable extensive coverage is provided by most applications.

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About Nishant Dhar Junior   Consultant

3 connections, 0 recommendations, 15 honor points.
Joined APSense since, June 12th, 2019, From Mumbai, India.

Created on Aug 2nd 2019 04:07. Viewed 469 times.


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