The Best Apps for Monitoring Your Mutual Fund Investments
Economic experts recognize that investing in mutual funds is a wise choice for securing financial stability. With numerous apps available, finding the right one can be challenging. This article explores the top apps for seamlessly managing and monitoring your mutual fund investments.
Top Mutual Fund Investment Apps
Several reputable mobile apps have been recognized for their effectiveness in facilitating mutual fund investments. These include Coin by Zerodha, Groww, Paytm Money, and Bajaj Finserv app. Each of these platforms offers various features to make your investment journey smoother and more efficient.
Key Benefits of Using a Mutual Fund App
One of the primary advantages of using a mutual fund app is the convenience it provides. Apps like Bajaj Finserv allow you to make Systematic Investment Plans (SIPs) through auto-pay, compare investment options, and select funds that align with your goals. Additionally, these apps cater to other investment types such as fixed deposits, Systematic Deposit Plans (SDPs), and trading in the stock market.
By consolidating all your investment options within one app, you can avoid the need for multiple applications, which not only saves you valuable space on your mobile device but also streamlines your investment process.
Bajaj Finserv App: A Reliable Choice
In my experience, the Bajaj Finserv app has proven to be highly useful for mutual fund investments. It enables you to pick from a variety of mutual funds and set up SIPs for your financial goals with as little as Rs. 100 per month. The app's features extend beyond just mutual funds, offering options for other types of investments as well, making it a versatile tool for your financial needs.
INDmoney App: Comprehensive Investment Management
For a more comprehensive approach to managing your mutual fund investments, the INDmoney app stands out. This platform helps you identify the best mutual funds based on your investment goals and financial needs. Here’s how you can use the app to find and track your mutual fund investments:
Selecting Mutual Funds with INDmoney
Select the Category of Mutual Fund Check Other Parameters Final SelectionSelect the Category of Mutual Fund: If you are new to mutual fund investment, start by selecting a category such as large-cap, multi-cap, or index funds. This step helps you narrow down your options and align with your financial goals.
Check Other Parameters: Once you have selected a category, perform a high-level comparison of the mutual funds within that category. Use parameters like a one-year return, Asset Under Management (AUM), expense ratio, and CRISIL ratings to filter out the best options. Shortlist the funds with better overall performance.
Final Selection: Dive deeper into the selected funds by comparing three and five-year returns. Review the peer funds section to ensure the chosen fund outperforms its competitors. Additionally, check the fund breakup to understand the allocation in different categories (large, mid, and small-cap) and ensure it matches your investment goals.
Tracking Mutual Funds on INDmoney App
After purchasing mutual funds via the INDmoney app, you can keep track of them all in one place. The app also allows you to link other mutual funds purchased from different platforms. Activate the mutual fund tracking feature to monitor all your investments from a single application, providing you with a comprehensive overview of your financial portfolio.
Start Your Investment Journey: Begin your investment journey with the INDmoney app, where you can easily select, compare, and track your mutual funds with ease.
Conclusion
Whether you are using the Bajaj Finserv app for convenience or the INDmoney app for a more comprehensive investment management experience, choosing the right mutual fund app can significantly enhance your investment journey. With the right tools and features, you can make more informed decisions and achieve your financial goals effectively.