Which are the best direct mutual fund platforms in India? How to evaluate and zero down to Best Direct Mutual Fund Platform? Well, recently while investing in the mutual funds online I have come across multiple online mutual fund platforms. I have evaluated these platform from features, user interface and coverage of fund house. Here is a summary of my research in terms of Best Direct Mutual Funds Platforms in India.
What is Direct Mutual Funds Platforms?
Direct mutual funds platforms are websites or apps that allow investors to buy mutual fund directly without any intervention of middlemen or broker. As no middlemen or broker is involved buying mutual fund directly from direct mutual funds is beneficial in terms of cost. In addition to cost, these platforms offer various additional features and ease of operation.
How to evaluate mutual fund platforms?
To evaluate mutual fund platforms you need to consider the following factors.
- Features offered by mutual fund platforms and its usage.
- Coverage of multiple fund houses on the 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 applicable for using mutual fund platform.
Best Direct Mutual Fund Platform in India
Here is a list of 10 Best Direct Mutual Funds Platforms in India.
CAMS Online/My Cams is one of the best direct mutual funds investment platform. I am using this platform for the past three years. My Cams is a 100% free platform. It supports 14 mutual fund service providers. You will get dashboard view for mutual fund holding and asset allocations while logging into this platform. Key features of CAMS Online direct mutual fund platform are given below.
- A completely digital process to setup SIP.
- Dashboard view mutual fund wise and asset class wise.
- Online statements for portfolio, capital gain and portfolio valuation.
- 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.
Karvy – KFIN KART
Karvy KFIN KART is one of the best direct mutual fund platform. You can invest, track and manage across multiple mutual funds using this platform. It will provide web based version as well as app version. Total mutual fund AMC supported by Karvy is 19. It is 100% free platform like My Cams. Key features of KFIN Kart are given below.
- Portfolio dashboard for viewing multiple folios.
- Link family portfolio at single click.
- NAV tracker including historic NAV.
- Folio level and consolidated statement.
- SIP registration and cancellation.
- Live notifications.
- Omni channel customer support.
MF Utility is one of the most popular investment platform in India. MF Utility is promoted by AMFI. Investors can conveniently invest direct plan of mutual funds via this platform. The service offered by MF Utility is completely free and paperless. MF Utility supports 26 Mutual funds AMC for investment. Key features of MF Utility are given below.
- Provides CAN based consolidated view of investments across the industry.
- Single payment for multiple scheme investments across mutual funds.
- Industry level triggers, alerts, reminder etc.
- go MF App to manage mutual funds on the move.
- Prompt customer service.
- 100% free platform.
Kuvera is free direct mutual fund investing platform. You can consolidate and track your entire mutual fund portfolio at single place using Kuvera. Kuvera allows you to manage investment of your entire family using single login. This platform supports 37 fund houses. Key features of Kuvera is 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.
Groww is comparatively new online mutual fund investment platform. Groww 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 scheme easily.
- Zero fee and no transaction charges.
- Dashboard to track all your investments.
- Latest security standard to keep your data protected.
- 17 different mutual fund house supported.
- UPI based investing with a single click.
Coin by Zerodha
Coin by Zerodha is one of the most popular direct mutual fund investment platform. You can invest in regular as well as direct funds using this platform. It gives unified view to for all direct mutual funds, ETF, bonds and stocks. It is 100% free easy to use platform. It supports 31 mutual funds AMC for investment.
- You can create, pause and modify your SIP anytime.
- Fund your SIP instantly via UPI payments.
- Unified portfolio view.
- Support of Zerodha platforms such as Kite, Console and more.
- Search facility to buy across 31 direct mutual funds.
- Single capital gain statement.
ET Money App
ET Money App is single app for managing all your investment including direct mutual funds. Free portfolio check by ET Money expert and daily updates on portfolio performance are plus points of ET Money. Benefits and key features of ET Money are given below.
- Automate investment via smart solution.
- Get free portfolio health report.
- Dashboard to track all your external mutual fund investment.
- Invest via web based platform as well as app.
- Completely paperless process.
Paytm Money App
Paytm has also launched mutual funds investment platform called as Paytm money. Paytm claims that investment via their platform is simple, transparent and easily accessible. Paytm money app based investment platform which offers lot of features.
- You can invest in 40 leading mutual funds AMC via this platform.
- It gives UPI, net banking and auto pay options.
- Real time portfolio insights and statement.
- Import your existing mutual fund investments.
- Instant fund redemption option.
- Compare direct mutual fund returns with other options.
- KYC verification in 30 minutes.
Mobikwik (Earlier Clear Funds)
Mobikwik is somewhat new in the list of direct mutual fund platforms. It is completely free mutual fund investment platform. You can invest in 36 different fund houses using mobikwik platform. Key features of Mobikwik mutual fund platform are given below.
- Paperless approach for investing in mutual fund.
- You can get unbiased advice in free.
- Complex data analytics to recommend best performing mutual funds.
- Bank grade security for investing money online.
- Smart real time notification to get updated information at right time.
Goalwise claimed to be one of the best direct mutual fund investment platform. Like all other platform this platform is also completely free and offer mutual fund investment with zero commission. You can invest, redeem or stop SIP completely online anytime using this platform. Key features of Goalwise are given below.
- Goal centric approach.
- On/Off track recommendation.
- Rebalancing of portfolio.
- Glide path for asset allocation.
- Customized investment option.
- Highly responsive customer support.
Over to you
Do you use direct mutual fund investment platform?
Do share your experience in the comment section given below.