Investing your money in mutual funds is one of the best ways to increase your monetary resources. Traditionally investors used to invest in mutual funds via distributors. It needed a whole lot of paperwork and was time-consuming as well. Due to the advancement of technology in recent times, most of the things can be done online. The whole distributorship system is now maintained by online mutual fund apps, making everything faster and easier. The mutual fund apps provide you with updated information about the best mutual funds to invest in. You can view multiple numbers of mutual funds, compare them, know which one is best for you and even invest in them with help from the apps.. Whether you are interested in investing your money in regular funds and direct mutual funds or you want to go for SIP investment, the apps will provide all the information.

Groww: The best app for online mutual fund investment

Groww is a Bengaluru based company founded in 2017 and was a part of Y Combinator 2018. The prime objective of Groww is to make investment and saving opportunities available to young people in India. It aims to start an easy, fast and transparent online investment process which was not available in India before. It is the best app which provides information about multiple mutual funds in India. Groww has its own website as well as a dedicated app for mutual fund investors, known as the “Groww App” which will provide you with all the necessary solutions for your monetary investments. The app offers more than 5000 mutual Funds where you can invest directly from the app. It provides a total hassle-free, new generation experience.

 

Why Groww is the best online mutual fund investment app?

The reasons for Groww being the best app for online mutual fund investment are mentioned below. 

 

Simple and user-friendly 

Groww is one of the fastest-growing and also one of the best online investment apps in the Indian mutual fund industry. The clear interface  is the best aspect of this app. They have designed their website for the computer as well as the mobile platform so that users can have access from anywhere. The simple design makes it user-friendly for beginners. It comes with a readymade basket of mutual funds recommended by experts. Its in-app comparing feature which allows users to compare three mutual funds together. This will show you interesting patterns of how fund managers differ in the same category. It also comes with a dashboard to track all your investments, annualised returns and total returns. Further, the app provides a list of top mutual funds in different categories with their insights and the latest financial news related to them. Thus you will get a clear picture before investing in any of them.

Investing made Safe

Investing in mutual funds through Groww is the best option when you are concerned about safety measures. Groww stores all the personal information using 256-bit encryption. All the transactions to and from AMC( Asset Management Company) are done through BSE(Bombay Stock Exchange). At no point, your money reaches them without your consent. When you decide to invest in any mutual fund of your choice you will have to choose the mutual fund on their website and click on “invest”. Following which you will be redirected to the BSE page where you will have to do the payment. Your money is then directed to the AMC managing your mutual fund by BSE. 

Similarly, when you want to redeem your money you will have to request the same on their website. The received money is transferred from the AMC account to the BSE, following which BSE credits the amount to your account. Any investments made in any mutual funds follow the same process.

 

No assistance fees required

While thinking about the best direct mutual funds app Groww comes to mind at first. Groww does not charge any fee or commission from its users for availing their service or using their platform. The app allows everyone to invest in direct mutual funds with zero commission and also offers an additional saving up to 1.5%+ compared to regular plans. This feature makes it the best direct mutual fund app.You can start investing in mutual funds with a minimum amount of  Rs. 500, which is suitable for beginners and even students.

 

Ensures discipline investing

Investing with a goal in mind is the best way to fulfill one’s ambition and needs for the future. The goal-based investment ensures that funds are available to the investor in the right amount at the right time. Groww app comes with a SIP Calculator acting as a beneficial tool which shows the return which you will get after investing a certain amount for a time period.

It helps you in the following ways.

• Helps you in determining the total amount you want to invest.
• Gives you a clear picture of the amount that is already invested.
• Gives an estimated return value.

The sip calculator further ensures that your financial portfolio is as per your requirements and monetary needs.

 

How can you invest in Mutual Funds on Groww?

You can invest in any mutual funds on the Groww app in the following easy steps.

• Select any Mutual Fund as per your choice and requirements.
• Get KYC verified.
• To complete your KYC verification you need to upload a picture of your PAN Card and a picture of your address proof.
• If you are already KYC verified all you need to do is update a picture of your PAN Card along with a picture of your bank statement or a cancelled cheque. Make sure that your bank statements/cancelled cheque is of the same account from where you want to invest in. 

Online investment saves a lot of time of the investor as well as the paperwork related to it. Investing in any kind of mutual funds through Groww will help you with the same. Groww is evolving as the topmost mutual fund app among all its competitors. The Groww app can be termed as the best direct mutual fund app because it provides great assistance throughout your investing process. However, the policyholders should study all the details, terms and conditions of the mutual funds before starting investing.