Mutual funds at your fingertips
Using mobile apps helps you manage all funds in one platform and there are around 10 platforms in the market which provide this facility.Updated: Jun 17, 2019 11:23 IST
Here’s how you can buy mutual funds using your phone
1 What is it: “Using mobile apps helps you manage all funds in one platform,” said Ankur Choudhary, co-founder and CIO, Goalwise. You need to complete KYC norms to begin investing through mobile apps. There are around 10 platforms in the market which provide this facility such as Orowealth, Groww, Goalwise, PAYTM Money and Invezta.
2 What you must know: Apart from investing in a direct fund, you can get portfolio insights, get regular investment statements and advice on some platforms which may or may not levy a charge. Direct fund apps generally do not levy commissions or fees, but regular fund charges apply.
3 Should you invest: “Direct plans are advisable only to those who have market knowledge or assistance. It also depends on the investor’s comfort level with transacting on a phone versus a desktop or other versions,” said Suresh Sadagopan, founder, Ladder7 Financial Advisories.