How To Choose Best Mutual Fund App For Beginners

Mutual Funds are a great financial tool. It’s best that beginners start investing with Mutual funds to learn the ropes of stock market investing and how the whole investing system works. Mutual Funds are safe and the learning curve is very short. These days you just need to learn how to navigate the App you like really, it’s that easy.

Mutual Funds are instruments containing a portfolio of stocks with a pre-defined objective. There are hundreds of Mutual funds and each one is a target for certain types of investors. With enough research or with a reliable research team, you can simply pick the ones that suit you.

With AMFI ‘Sahi Hai’ campaign for mutual funds, you can start investing with as little as Rs.500 a month. Just create a SIP in the mutual fund that you like.

Beginners should look for the below features in an app,

Regular and Direct Mutual Fund Investing

The platform should provide both Regular and Direct Mutual Fund Investment options. It helps if there are no fees for choosing either. 

A world-class research team is a great benefit; it takes the responsibility off your shoulder to find the right mutual fund for you. The team skillfully solves any mutual fund queries or portfolio management. You should also be able to switch between the two options anytime and the research stays.

An Automated Financial Planning System

Check if the platform provides an automated financial planner that doubles as an advisor too. The Free Financial Analysis can achieve financial freedom. 

Goal Planning: We are mostly bad at planning goals and as a beginner, it’s a great help if the app can do that for you. It inculcated investment discipline. It can be any goal like Car? Overseas Education? Or International Vacation? So instead of going through EMI Route, take SIP route to stay liability-free and stress-free. 

The time period should be clearly defined and that acts as a motivation to hold on to investments until its logical end.

External Fund Tracking: The platform should have the ability to track funds that have not been invested with them. So you don’t have to worry if you have been using some other platform or have been directly investing with AMC’s or Banks.

Insta-Redemption: This is a great feature to have and up to Rs.50,000 instant withdrawals into your account. This is applicable for Liquid Mutual Fund investments.  It’s a great feature which can be useful during emergencies.

Automatic Rebalancing: If you create a portfolio with an investment platform, it’s great if the app can actively recommend changes to your investments and keep the portfolio optimized. This ensures great returns irrespective of the market and any changes in terms of schemes or investment input amongst others to ensure you get the best.

Baskets: Pre-defined Baskets with handpicked schemes to suit every type of investor. Lumpsum or SIP. Wealth Creator, Tax Savior, Better than FD and other such baskets

User-interface: This is important as with the feature the App should be easy to navigate, intuitive, and a joy to use.

There are Apps that offer this or maybe ‘The APP’ which has all this on offer. It’s these thoughtful features that will be the best mutual fund app for beginners out there.

So find the one which has all the listed features, a great research team to fall back and is not just a technology company offering a platform. You want the APP backed by a sizeable firm to get the customer support you will need.