Direct Mutual Fund Platforms are getting popular these days. you may head about grow app. these kinds of apps helps the investor for easy and free investing. also these platforms motivate many beginner investors to invest. Direct Mutual Fund Platforms allows the investor to invest in the mutual fund without the help of a third party. these platforms help you to reduce the fees charged by third parties.
Also read: Direct Mutual Funds: Features & Benefits
What is Direct Mutual Funds Platforms?
Direct mutual funds platforms are websites or mobile applications that will allow the investors to invest in the mutual fund directly without any help of a middleman such as brokers, sub-brokers, mutual fund agents, etc. investors can purchase their selected fund directly in a single click. since there is no broker is involved in buying mutual funds directly the charges and fees can be avoided. these platforms are very user-friendly and anyone can use them easily without any difficulty.
How to evaluate mutual fund platforms?
To evaluate a mutual fund platform you have to consider the following factors.
- Features offering by mutual fund platforms and their uses.
- presence of multiple fund houses on a single platform.
- User-friendliness of the platform for the operation.
- Technical stability and service quality of the platform.
- The reputation of the direct mutual fund platform.
- Fees are applicable for using the mutual fund platform.
10 Best Direct Mutual Fund Platform in India
Following are the 10 best direct mutual fund platforms in India.
1.CAMS Online/My Cams
CAMS Online is one of the best direct mutual funds platforms. My Cams is a 100% free platform. It supports 14 mutual fund service providers. You will get a dashboard view for mutual fund holding and asset allocations while logging into this platform. Key features of CAMS Online direct mutual fund platform are as follows.
- A completely digital process to set up SIP.
- Dashboard view for both fund and asset class-wise.
- Online portfolio statements, portfolio valuation, and capital gain.
- STP and SWP facility online.
- Schedule future transaction facility.
- Two-factor authentication while logging.
- Mobile App to monitor your investment.
- 100% free platform with good customer support services.
2.Karvy – KFIN KART
Karvy is one of the famous direct mutual fund platforms in India. You can easily invest, track and manage multiple mutual funds using Karvy. It provides both a web-based version and an app version. The total mutual fund AMC supported by Karvy is 19. It is a 100% free platform like My Cams. Key features are as below.
- Dashboard view for multiple portfolios.
- Linking family portfolio in a single click.
- NAV tracker is available including historic NAV view.
- Portfolio level and consolidated statement.
- SIP registration and cancellation are possible.
- Live notifications are available.
- Omni channel customer support is available.
3.MF Utility
MF Utility is another popular mutual fund investing platform in India. it is promoted by AMFI. Investors can easily make the investment in mutual funds through this platform. the services are completely free of cost and digital. MF Utility is in partnership with 39 Mutual funds AMC. following are the key features.
- CAN-based consolidated view of investments across the industry is available.
- Single payment system for multiple scheme investments across the mutual funds.
- Industry-level triggers, alerts, reminders, etc.
- go MF mobile application.
- Prompt customer service.
- 100% free platform.
4.Kuvera
Kuvera is a free direct mutual fund investing platform. You can track all your mutual fund portfolio in a single place using this platform. Kuvera lets you manage the mutual fund investment of your family using a single login. This platform supports 37 fund houses. Key features of Kuvera are given below.
- Clean and easy to use interface.
- Import facility of existing portfolio.
- One click switch to direct funds.
- Goal planning option.
- Family account management.
- Large number of mutual fund house supported.
5.Groww
Groww app is a comparatively new online mutual fund investment platform. it claims of using latest technology for it platform. Groww is famous for its simplicity and transparency. Features of Groww are given below.
- Compare mutual fund schemes easily.
- Zero fees and no transaction charges.
- Dashboard to track all your investments.
- Latest security standard to keep your data protected.
- 17 different mutual fund houses supported.
- UPI-based investing with a single click.
6.Coin by Zerodha
Coin by Zerodha is a popular direct mutual fund investment platform in India. You can make the investment in regular and direct fund modes using this platform. It gives a unified view for all direct mutual funds, ETF, bonds, and stocks. It is a 100% free easy to use platform. Coin supports 31 mutual funds AMCs. since Zerodha is India’s favorite stockbroker. its mutual fund platform also getting popular. and people are choosing Coin because of Zerodha’s goodwill.
- You can start, pause, and modify your SIP anytime.
- UPI payments allow instant payments.
- Unified portfolio view.
- Support from Zerodha platforms such as Kite, Console, and more.
- Search facility to choose among 31 direct mutual funds.
- Single capital gain statement.
7.ET Money App
ET App is one of the famous mobile applications for direct mutual fund investment. its expert services like portfolio checking and daily updates on portfolio performance are plus points of ET Money. key features of ET Money are given below.
- Automate investment via smart solution.
- Get a free portfolio health report.
- Dashboard for tracking all your mutual fund investment.
- Invest via the web-based platform also through the app.
- Completely paperless process.
8.Paytm Money App
Paytm has also launched mutual funds investment platform called Paytm money. it claims that investment via their platform is simple, transparent, and easily accessible. Paytm money application offers a lot of features.
- You can invest in 40 leading mutual funds AMC via this platform.
- UPI and net banking options allow the fast transaction.
- Real-time portfolio insights and statements.
- Import your existing mutual fund investments.
- Instant fund redemption option.
- Compare direct mutual fund returns with other options.
- KYC verification in 30 minutes.
9.Mobikwik (Earlier Clear Funds)
Mobikwik is new on the list of direct mutual fund platforms. It is a completely free mutual fund investment platform. 36 different fund houses are in association with the MobiKwik platform. features of the Mobikwik are given below.
- Paperless approach for investing in mutual funds.
- You can get unbiased advice for free.
- Recommendation of best performing mutual funds through complex data analytics.
- Bank-grade security for investing money online.
- Smart real-time notifications.
10.Goalwise
Goalwise one of the popular direct mutual fund platform. it completely free and offer mutual fund investment with zero commission. You can make an investment and redeem it anytime, from anywhere completely online through this platform. Key features of Goalwise are given below.
- Goal-centric approach.
- On/Off-track recommendation.
- Rebalancing of the portfolio.
- Glide path for asset allocation.
- Customized investment option.
- Highly responsive customer support.
Final Thoughts
Direct Mutual Fund Platforms are getting popular these days. you may head about grow app. these kinds of apps helps the investor for easy and free investing. mutual funds investments are subjected to market risk. make a detailed study before you make any investment in the mutual fund.