Bajaj Finserv App, a trusted non-banking financial institution, has launched the Kartavya Kal campaign, in alignment with the Prime Minister’s vision of contributing towards a prosperous India. As part of this campaign, the Bajaj Finserv App is guiding individuals towards investing in mutual funds via SIPs, aiding them in fulfilling their responsibility towards the nation’s progress.
Mutual funds refer to a collective investment scheme that gathers funds from multiple investors to invest in a range of assets, including equities, debt securities, and money market instruments. The returns on investment depend on the performance of the underlying assets. Investing in mutual funds via SIPs involves investing small amounts of money at fixed intervals of time, ensuring regular contributions to savings while fostering financial discipline.
SIPs align with the notion of Kartavya Kaal in four key ways:
- Starting Early and Compounding: SIPs emphasize the importance of starting early to enhance the power of compounding. Individuals can invest small amounts of money for a more extended period, which can lead to potential growth over time.
- Diversification: By pooling funds from multiple investors, SIPs invest in a range of assets, decreasing the impact of poor performance from a single investment. This aligns with the idea of contributing collectively towards India’s economic growth during the Kartavya Kaal.
- Discipline Amid Market Volatility: With automated investment processes in place, SIPs foster financial discipline, which encourages individuals to stay invested despite market fluctuations. This reduces emotional reactions and ensures consistent savings.
- Goal-Oriented Planning: Financial planning is crucial during the Kartavya Kaal, aligning personal financial growth with India’s economic aspirations. SIPs offer flexibility, allowing individuals to match investment tenures with specific financial objectives, whether short-term or long-term.
Investing in mutual funds via SIPs can be an excellent way for individuals to fulfil their responsibilities towards a prosperous and responsible India. By fostering financial discipline and encouraging regular contributions, individuals can contribute positively to the nation’s economic growth and secure their financial future.
Features of Online Mutual Fund Investment Apps
Online mutual fund investment apps offer several features that make investing in mutual funds easy, convenient, and hassle-free. Here are some of the most common features offered by online mutual fund investment apps:
- 1. Easy Account Opening: Opening an account on an online mutual fund investment app is quick and easy. All you need to do is provide your basic details, PAN card number, and bank account details.
- Paperless KYC: KYC or Know Your Customer is a process where the app verifies your identity and address. Online mutual fund investment apps offer paperless KYC, which means you can verify your identity, address, and other details by uploading a scanned copy of your documents.
- SIP and Lump-sum Investments: Online mutual fund investment apps allow you to invest in mutual funds through Systematic Investment Plan (SIP) or Lump-sum. SIP is a great way to invest a fixed amount at regular intervals, while a lump sum is a one-time investment.
- 4. Online Portfolio Tracking: Online mutual fund investment apps offer a simple and easy-to-use dashboard that allows you to track your portfolio performance, returns, and NAV (Net Asset Value).
- 5. Investment Recommendations: Online mutual fund investment apps offer investment recommendations based on your risk profile, financial goals, and investment horizon.
Best Online Mutual Fund Investment Apps in India
1. Bajaj Finserv App for Mutual Fund Investment
Bajaj Finserv is a well-known financial service provider in India that offers a comprehensive online mutual fund investment app. The app offers several features that make investing in mutual funds easy, convenient, and hassle-free.
The app allows users to invest in more than 5000 mutual fund schemes from 40+ Mutual fund companies with 0% commission. Users can invest in mutual funds through SIP or Lump-sum. Additionally, users can start investing with an amount as low as Rs 1000. The app also offers investment recommendations based on risk profile, financial goals, and investment horizon.
Bajaj Finserv app for mutual fund investment also offers online portfolio tracking and 24/7 customer support. Users can track their portfolio performance, returns, and NAV along with important notifications about their investments on a single dashboard.
The security of the app is of utmost priority and Bajaj Finserv app takes care of it by providing state-of-the-art security features like PIN, fingerprint, and face recognition. It also has an added layer of security with an OTP for any transaction.
2. Paytm Money
Paytm Money is a popular online mutual fund investment app that allows users to invest in mutual funds from top fund houses like HDFC, SBI, Aditya Birla Sun Life, and many more. The app offers paperless and instant KYC, and users can start investing in mutual funds with as little as Rs 100.
Paytm Money offers investment recommendations based on the user’s risk profile and financial goals. Users can invest in mutual funds through SIP or Lump-sum and can track their portfolio performance and returns on a single dashboard.
The security of the app is secured by robust encryption technology and other features like biometric authentication.
3. Groww App
Groww is a mobile-first investment platform that gives users easy and low-cost access to mutual funds and stocks. It offers more than 5000 mutual funds from 40+ fund houses. The app provides users with recommendations based on their risk-taking capacity and financial goals.
The app offers easy-to-use features that cater to the needs of both novice and seasoned investors. The feature-rich dashboard provides a real-time view of the entire portfolio and performance updates.
The app follows a stringent security protocol through SSL encryption, two-factor authentication, and other security features to ensure users’ data and transactions’ safety.
4. Zerodha Coin
Zerodha Coin is India’s first mutual fund app that offers commission-free mutual fund investments completely online. The app offers more than 3500 direct mutual fund schemes from 40+ Asset Management Companies and SIPs starting from â‚¹100.
The app offers a unique feature where users can invest in Direct Mutual funds track their portfolios, and buy /sell stocks, bonds, and other investments from a single platform.
The app does not charge any fee or commission and provides an easy and transparent view of fees, returns, and performance.
Kuvera is an online platform that allows users to invest in mutual funds from over 40+ asset management companies and 4000+ mutual funds. The app offers a feature called Goal-based Investing, which allows users to invest based on their financial goals like Child Education, Retirement, or any other goal. The app provides personalized recommendations based on the user’s financial goals and investment horizon.
The app offers zero commission, zero transaction charges for all user accounts, and the lowest expense ratio in the industry.
Risks of Online Mutual Fund Investment Apps
Although online mutual fund investment apps offer several benefits, it is essential to understand the risks associated with investing in mutual funds. Here are some of the risks of investing in mutual funds:
- Market Risk – Mutual fund investments are subject to market fluctuations and risks associated with investing in the stock market.
- Credit Risk – If the issuer of the security held by the mutual fund defaults on its payment, this may impact the NAV of the mutual fund.
- Inflation Risk – Mutual funds are subject to the risk of inflation which can erode the value of your investment over the long term.
- Interest Rate Risk – Mutual funds are also subject to interest rate risk where an increase in interest rates may adversely affect the NAV (Net Asset Value)
Online mutual fund investment apps are a great way to invest in mutual funds and help you build your wealth. Bajaj Finserv App for Mutual Fund Investment, Paytm Money, Groww, Zerodha Coin, and Kuvera are some of the top online mutual fund investment apps in India that you can use to invest in mutual funds.
Before investing in mutual funds, it is essential to understand the risks associated with investing in mutual funds. By choosing the right online mutual fund investment app and investing wisely, you can make your money work for you and achieve your financial goals.