Best Online Platforms for Direct investing in Mutual Funds. Groww Zerodha Coin Kuvera Paytm Money.

Best Online Platforms for Direct investing in Mutual Funds. Groww Zerodha Coin Kuvera Paytm Money.

How to buy Direct Mutual fund online? How to choose Direct Mutual fund Platform in Indian? Best Online Platforms for Direct investing in Mutual Funds. Groww Zerodha Coin Kuvera Paytm Money MF Utility Cams and Karvy.

 

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AMC Websites

1.    All mutual fund companies have their own websites through which you can invest in any product
offered by them.

2.    You have to simply go to their website, create your own account, select the fund in which you want to invest and pay online.

3.    You have to simply transfer the amount you want to invest without paying any extra charges.

Advantages:

1.    SWP (Systematic Withdrawal Plan) and STP (Systematic Transfer Plan) is available

2.    You don’t have to pay a dime.

Drawbacks:

1.    The drawback of this method is that you have to create an account with each mutual fund house. Managing your portfolio and account statement will be difficult as you will get the individual statement from each AMCs. You will not get the consolidated capital gain statement

2.    One time registration and remember the password for all portals is difficult.

3.    You need to download a separate mobile app for each AMC.

Groww

1.    Online portal which offers direct mutual fund plans.

2.    Easy and user-friendly portal and mobile app

3.    Coverage of 37 AMCs.

4.    The best part is that they provide a detailed evaluation of each scrip and their service is completely free of charge and no hidden cost.

5.    They cover all the data points and give comparative charts with other schemes in the same group.

6.    It has also introduced a feature called ‘Switch’, through which, you can track all your external and internal mutual funds under one umbrella.

Advantages:

1.    They use Objective evaluation method instead of any random suggestion.

2.    Another outstanding feature of the app is that offers a truly digital KYC for the first time investors. It helps you do your KYC in few minutes and you can start investing with the app instantly.

3.    They have Group on various topics to help users get the answer to their queries (its like forum).

4.    Groww is available on the desktop/laptop as a web application. They have an iOS app and an Android app.

5.    It is super easy to switch from regular plan to direct plan.

Drawbacks:

1.    SIP Modification not available. 

Zerodha Coin

1.    Zerodha Coin helps you buy mutual fund units online from the asset management companies.

2.    Buy/sell mutual funds along with stocks, all in one account.

3.    They have a product called ‘coin’ for the mutual fund investment. Their yearly maintenance charge is of Rs. 300/-.

4.    The portal is relatively simple, because anyone can find the mutual fund scheme, check
its performance and invest through a lump sum amount or set up a systematic investment plan (SIP).

Advantages:

1.    Free of cost no matter how big is your investment amount.

2.    Easy SIP. Start/stop/modify your SIP as and when you want with just a click.

3.    Simple and single profit & loss statement and capital gain statement.

4.    Intuitive and easy mobile app for Android and iOS

Drawbacks:

1.    It doesn’t provide any advisory service, you have to find the schemes on your own

Kuvera

1.    Kuvera is the completely free online portal for investing into direct plans of mutual funds.

2.    They are truly FREE. There is no catch or hidden charges for investing in direct plans of mutual funds.

3.    They are offering a free portal for investing in mutual funds regardless of the portfolio size.

4.    They also provide free financial advice.

5.    They have an industry leading 36 AMCs onboard.

Advantage:

1.    Goal-based investment is the key feature of Kuvera. Every investment has a purpose. Knowing this purpose right before you start investing. It will set the right path for your financial freedom and goal achievement. Kuvera also helps to determine the associated risk with each type of funds.

2.    Another great feature Kuvera is offering is the one-click switch from regular mutual fund plans to direct mutual fund plans. They have a system in which you can import your existing plans easily. It is super easy to switch from regular plan to direct plan.

3.    Kuvera is available on the desktop/laptop as a web application. They have the iOS app and Android app.

       Drawbacks:

1.    Supports 36 major AMCs out of 42

Paytm Money

1.    Paytm Money is the latest entry in the direct mutual fund platforms.

2.    Like other direct mutual fund platforms, Paytm Money offers the direct mutual fund plans on its platform with zero fees to customers.

3.    It will help the investors in a great way by helping them in choosing the best and most suitable plans for their needs. For this, they have tied up with Valueresearch.com and morningstar.com which are the market leaders in the mutual fund industry.

Advantages:

1.    SIP management (start/pause/stop)

2.    e-KYC in minutes

3.    Track your goal

4.    Suggested SIP dates so that you can get the maximum returns

5.    No charges for investment and no hidden cost

Drawbacks:

1.    Supports only 25 major AMCs.

MF Utility

1.    In India, there is a common portal for all mutual fund houses that is, http://www.mfuindia.com.

2.    You can create your account there and you will be assigned one common account number (CAN).

3.    Through this unique number, you can purchase mutual funds from any fund house of your wish. Also, It is completely free of cost.

Advantage:

1.    It is hassle free, as you can invest in all the funds through a CAN (Common Account Number)

2.    But then again, you can do the same with platforms like Groww and the procedure will be relatively simple.