A mutual fund app is a medium of using technology to invest wisely. When it comes to a mutual fund, it is about applying and choosing the correct fund. When it comes to investing, you have four primary options. You can buy FD, Gold, Properties, or you can invest in Stock.
The stock market is the most popular option, but you need to do proper research to invest in any company’s supply. For example, instead of buying a particular company’s stock, you can give your money to AMC’S( asset manager company).
Investing money in a mutual fund is like investing in the Stock market. It’s just that a financial advisor is doing that for you to get moderate returns with shallow risk.
How To Get Started on Mf Apps
There are three significant ways to buy any mutual fund;
1. Hire a broker who will do the paperwork for you – just like you have to visit the bank.
2. You can use the respective mutual fund app. For example, you can use the Excess app to buy the excess mutual fund.
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3. A mutual fund app does the KYC( know your customer) for you, this is done by taking a selfie and a digital signature, and once you are in, it will show you the list of all the mutual fund apps available in the market.
You can choose, buy, sell or even track all under the same hole whenever you want.
Which Are The Best Mutual Fund Apps?
GROWW: This is a new app made by a Flipkart ex-employee. It is simple and easy to use. The moment you install the application, it asks for your KYC ( if you have bought mutual funds before, your KYC is already done).
Or you can enter the application just by entering your fan number. Still, if you haven’t, you might need to provide them with your selfie, card number, digital signature, and all the whole procedure take 5- 10 minutes, and your verification is done within two days, and once you are done, you can log into the app.
KUVERA: This is run by people who have some solid experience in the investing industry, and it kind of shows in the app itself. This is the best app for long time investing.
It has a bit complicated UI then grows as it gives you more features like buying gold and stuff, but when it comes to buying a mutual fund, it gives you a similar option as you get in. ie. The holding of the mutual funds, the fund manager. They also have online chat support on their web page.
PAYTM MONEY: On the home page, it shows you the top funds in different categories and the investment option, it shows you the list of mutual friends, or you can search it from the search option on the top. It also offers you mutual funds from Paytm and the organization’s rating.
ZERODHA: The oldest in the market, and not just limited to mutual funds. You have to pay a one-time fee to buy and sell stocks after the verification, which takes two or three days to sign up.
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