Best direct mutual fund app


I want to do sip in direct mutual fund for a longer time frame. Can you all help me in choosing the best mutual fund app among cams, kuvera, mf utility, groww, coin, mf central or et money?

Not sure why you are you looking for views on apps. Shouldn’t you be studying funds you want to invest in first and then thinking about the apps?

Anyways I use kuvera and it’s good. Before this I have tried a couple of brokers.

I already researched which fund to choose now I want to start sip so looking for a good app with no hidden cost. Also what will happen to my investments if fund house or the mutual fund app shuts down?

I use mfcentral. There is a website/app available.

1 Like

Your actual ownership of fund isn’t with broker or fund house. Your assets are stored with depositories (CDSL/NSDL). Broker apps are just facade on top of that data. Fund houses can shut down in theory but they can’t just run away with your money.

For app, I am biased to use kuvera.

I am using MF Utilities since last 6 /7 years and found it very good. It is owned by AMFI itself and therefore doesn’t have any other hidden agenda. They have good website and also an APP.

You can also try MF Central which is owned by CAMS / KFIN jointly. This one is the result of a SEBI mandate.

1 Like

I personally find Kuvera to be good, using it since 2020. Easy to use and good UI.
Had MF Central come earlier i might have gone with them.

Coin was good before the SEBI order banning the use of funds in trading account for buying units. For first couple of months there were hiccups where money got deducted from my bank account but units were not allocated and the refunds too took 3 weeks to come. Things stabilized after that but units are not getting allocated on the same day even if I do the fund transfer at 9 am through UPI or netbanking (NEFT option is not present). Earlier we used to get same day’s NAV when the funds were used from trading account. Also the units bought through coin doesn’t show up in mfuonline (goMF app) account.

Now I also use mfuonline (goMF), with NEFT transfer I could get same day NAV upto 2 to 2.30 pm. But the GUI is very primitive and complicated to buy a mf unit.

Have been actively using Coin by Zerodha and Groww and I find Groww to be decent enough to get things done. Just like any other app it displays, your gains, XIRR, % data, etc. very well. Also, it will recommend certain funds based on categories that you may have already invested or willing to invest.
The downside is that the payments and unit buying is although simple but these apps are still evolving and change in certain rules by SEBI affects the overall functionality of direct payment, one click unit buying (by giving bank mandates), and other payment modes.
For same day unit allocation, try to buy funds before noon and that should trigger appropriately.
Basically, none of these apps have a big monopoly of the customer base as of yet hence any/all of them are good.

1 Like

why to use an app when we can buy direct from mutual fund house websites?


All mutual funds in India work through Saas providers. There are just two of them : CAMS and KFintech. I use either the mutual fund apps /websites or CAMS/Kfintech. All your records will be stored with either of them depending on which one the respective mutual fund works with. Amongst them they provide all the services that you need or are likely to need in future.

I have tried other apps but have found limitations with them.

Amongst the two I personally like CAMS more. Reason: KFintech will not permit me (at least currently) to make investments through my HUF.

Hope this helps.

1 Like

Does that mean you will create an account on 5 different mutual fund houses if you are buying 5 different MFs eg. Axis, kotak, Motilal, HDFC and Mirae?

1 Like

Yes, you have to create 5 accounts with 5 mutual fund houses in that case. So, i understand one benefit of choosing an app over direct fund house website is you only need to create one account.

1 Like

Paytm Money, different from the Paytm app, is another platform with a very good web and mobile app for buying direct funds. It should be part of the discussions at least.

1 Like