We are finally starting to earn enough to stop living paycheck to paycheck. Still, at the same time, we have seen growing instability in the market, with many companies going under and several others laying off their employees. This has caused fear and unrest in people’s minds about how they will survive if they are suddenly laid off.
This is why investment and savings are of foremost importance. Saving and investing the money you currently do not have use for and using it to earn an income passively seems like a dream situation for many, but there are associated risks.
This is why investing in relatively safer methods like mutual funds has long been considered a wise choice for individuals looking to grow their wealth and achieve their financial goals, and to help you in taking this step, there are several mutual funds apps in India.
What are Mutual Funds?
A mutual fund is a trust that collects a pool of money from several investors managed by a professional Fund Manager who share a common investment objective and invests the same in equities, bonds, money market instruments or other securities.
A mutual fund makes money through the distribution of interests or dividends it attracts and if you sell the fund for a higher price than what you bought it for.
How to invest in mutual funds?
Investing in Mutual Funds in India traditionally was extremely tedious, with loads of paperwork, lengthy processes, and a lack of transparency. But ever since the advent of mutual fund apps like Bajaj Finserv, ICICI Prudential, and Policy Bazaar, the market has been revolutionised, and investment has never been as simple and accessible.
1. User-Friendly Interface:
Mutual funds apps are easy to use and simple so that you can invest and watch your money grow. These apps offer user-friendly interfaces with intuitive navigation, making it easy for seasoned and beginners investors to browse different mutual funds and invest in them.
2. Make informed decisions
Having these apps on your phones not only makes it highly convenient in reach but also allows you to invest with just a few clicks, check your portfolio, and get detailed reports, including historical performance, risk factors, and expense ratios, with real-time updates on the NAV (Net Asset Value) of your funds, allowing you to track the growth of your investments and find the best performing mutual funds for you so that you can make an informed decision.
3. Wide Variety of Mutual Funds:
These apps offer a wide variety of mutual fund options to cater to different investment preferences and access to a wide range of funds you can invest in based on your financial goals and risk appetite. Whether you are looking for equity, debt, hybrid, or tax-saving funds, these apps have covered you.
Conclusion
To conclude, mutual fund apps have transformed the landscape of mutual fund investments in India. With their user-friendly interfaces, convenience, and a wide variety of fund options, these apps have made investing in the best mutual funds based on your needs accessible to all.
This is why I invest in my portfolio through one of the best apps for mutual funds in India, Bajaj Finserv, which is simple to use, reliable and provides me with thousands of investment options with detailed reports, risk assessments and a mutual fund calculator so that I can see how my decisions will pan out for different funds.