As time progresses so increases our expectations from life. Dreams continue to grow bigger as our earnings get better. Interests begins to evolve as our lifestyle gradually gets enhanced. From riding a cycle to buying a four tire car, from 2 BHK to our own home, each one of us have our own form of life to cater to, luxuries to enjoy. However often these costly dreams become hard to plan and achieve in the long run. Especially with increase in inflation and decrease in bank interests over the years. Various dreams have various timelines, some to be achieved in few years, some after ten years while some after retirement. Hence each of these objectives of achievement are different and unique and need to be planned differently. To achieve such long terms goals in their monetary equivalent, mutual funds and shares play a crucial part. Hence its important to know the 5 BEST INVESTMENT APP FOR BEGINNERS.
In early days people interested to invest in funds needed to go to respective branch outlets of the fund, fill up forms and provide cheque. With the advent of internet for all and release of various apps it has become very convenient for potential investors to invest sitting at home or on the go. Comparing between various funds and their outcomes in target years can now be easily accessed. Let us discuss about the five user friendly apps that can help even a beginner to invest comfortably in funds and shares.
5 BEST INVESTMENT APP FOR BEGINNERS
1. ET Money
Adjudged as India’s best personal money manager app, is managed by Times of India Group. A third party investment app that allows you to track your spends automatically, as well as category wise, get all your bills in one place with on time alerts to inform when it’s time to pay the bills. Allows user to sync and get account balances and spends in one window, regularly gives updates on performance of funds you have invested in and most important of all allow to manually invest in various funds and track external investment too. For beginners the app also suggests various funds according to the need and risk intake capacity.
Need money and worried of loan eligibility? Don’t worry, with ET money you can get your credit score for free. The analysis gives score between 300 to 1000 points. The app analyses the users score over 4 broad segments, Repayment history, Credit Enquires, Credit Mix and Loan outstanding. The score analysis is very user friendly and explains each points clearly as per individual accounts. Not just the analysis this app also provides loan assistance for both personal and business.
Another great feature provided by the app is smart deposit which is equivalent to short term bank deposits, but better. It allows the registered user to invest cash for short terms which can be taken back in few hours.
Looking for life or health insurance? ET money will help you there too. It has a dedicated section catering to the users insurance needs over four sectors – Health, term, car and bike. Each section analyses the users profile and needs, then suggests the best loan providing vendor.
These are some of the features that makes ET Money get the top position in our list as a investment app for beginners. For more information go to ET Money website..
2. Money Control
An investment money app that allows the user to effectively invest in share market. Along with flaunting a very user friendly interface, the app provides in-depth financial information, news in three languages English, Hindi and Gujrati. Allows easy navigation between NSE, BSE, MCX and NCDEX, across multiple asset classes. The app provides single search bar with voice search for stocks, indices, mutual funds, commodities, news etc. You can easily access and manage your portfolio with this app.
The app provides 24 hours coverage of news related to markets, business and economy that might effect the financial position of the country. It allows you to save your favorite shares in your watchlist for isolated consideration. The app sorts the days market constantly into various lists such as top gainers, top losers, activity by value and various others. You can even compare the past returns via available graphs and plan accordingly.
Money control provides a pro version for subscribed users at a very nominal free. The paid users enjoy a personalized and curated news desk as per their profile requirements. Commentary and opinions on the status of the portfolios are provided. The in house expert teams provide smart investment ideas along with trading recommendations every day. An event list is provided which might affect the investment profile of the user. Exclusive reports can be accessed by subscribers which analysis the margin and profit earned by various organization. Video logs from market experts are provided from time to time. The developers have come forth to provide the user quick guide to real economy. It is a very good investment app for beginners.
3. Money Control Transact
Brother app from Money Control exclusively for Mutual Funds. It shows curated funds for various time frames, along with focused funds in various domains. A great interface of Money Control Transact is that it allows the user to compare the percentage return for two different time frames of the same fund parallely, which now only helps the user to visualize the money he might expect at different time frames after investment. Also allows the user to check whether one funds serves his both short and long term goals. It is an end-to-end solution for MF investors, who can not only research and learn about mutual funds, but also invest in mutual funds, in a few easy steps, all completed online and thus a very good investment app for beginners.
Money Control Transact provides personal recommendation without any human bias. A very useful feature of this investment app is that it categorically divides the mutual funds into two categories. First, time frames of 1 to 3 years, 3 to 5 years and 5 plus years. Second, as areas of focus into International, Banking, Pharma, FMCG, IT & Technology and MNC. This helps the user to view only those funds that match required interests.
The interface divides each funds properties into four parts – Overview performance, peers and portfolio The overview shows the present per unit price, give a short description of the funds worth, its manager, tax benefits and the funds objectives. The performance section shows a table of periodic returns in percentage along with the rank held by the fund in various time period. It also shows a returns chart and practical return calculation both on SIP and bulk investment. The peers section compare the concerned funds average return with its peers for a healthy comparison. The portfolio section shows information about the individual organizations whose stock the fund holds.
4. My Cams Mutual Fund App
My Cams has been a very trusted brand for generation portfolio statements for a long time. Good thing is they have utilized their knowledge to provide an online mutual fund advisory service through their app. It is a highly secure app, and allows transact to purchase, redeem or switch, open new folio, subscribe to NFO and other services. However being new investment app they provide service only across 16 mutual funds. They also provide loan assistance.
My Cams provides Systematic Transfer Plan service by which an user can transfer funds from an open ended scheme to another which has fund transfer scheme enabled. Another feature is Digi NFO whereby an user can invest directly in the first time subscription offer of a newly launched NFO scheme.
Direct link for downloading My Cams app (IOS)
5. K Finkart Mutual Fund App
K Fintech has been playing a pivotal role as a financial services intermediary since its inception in 1982. The app aims to ease a customer’s journey in the online investment into mutual funds. It particularly saves time by linking and tracking your portfolio through AMC, allows to start and stop an investment or start and stop SIP’s. The users can perform the desired actions over a single windows without much hassle. This investment app is new and serves only 8 mutual funds at this moment.
Here you go, these apps will help you invest online easily and without any struggle. All these apps are very secure and protected. They provide service promptly and any transaction in your folio is notified in your mail for future reference.
If you have any suggestion for our list of 5 BEST INVESTMENT APP FOR BEGINNERS, or any query please comment.
“Mutual funds are subject to market risks, please read the offer documents carefully before investing”.
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