11 Best Investment Apps in India 2024
Overview of Investment Apps in India
Are you ready to start your investment but don’t know where to begin? Conventional investing might seem daunting because it requires extensive paperwork. But guess what? The good news is that today, there is a much simpler approach to expanding your hard-earned money.
We’re talking about investment apps on your phone. These applications can replace mounds of paperwork with a few touches on your phone.
Nowadays, India has a plethora of incredible investing applications! However, with many alternatives, locating the best fit for your needs might take time and effort. This detailed guide will take you through the exciting world of the best investment apps in India. It will aid you in selecting the app that best meets your financial goals.
Before we go into applications, let’s look at the many investment options available:
Investment Type | Description |
Fixed Deposits (FDs) | Low-risk bank deposits with fixed interest for a set period. Good for emergencies. |
Mutual Funds | Pooled investments in stocks, bonds, etc. for diversification and growth potential. |
Stocks | Ownership of shares in individual companies for high return potential (and high risk). |
Real Estate | Land or property investments for capital appreciation and rental income (requires high upfront investment and management). |
Peer-to-Peer (P2P) Lending | Direct lending to individuals or businesses for potential returns (with risk of defaults). |
Cryptocurrencies | Digital assets with high potential returns but also high volatility and regulatory uncertainty in India. |
Types of Investing and Top Investment Apps
Let’s take a look at some of the best investment apps for beginners for each asset class:
Fixed Deposits (FDs)
If you’re looking for alternatives to traditional banks for your FDs, here’s a quick comparison of two popular options:
1. Stable Money
Stable Money is a smartphone app that simplifies India’s fixed-deposit (FD) investments. It concentrates on providing competitive interest rates on FDs with varying terms. Stable Money collaborates with various banks and non-banking financial companies (NBFCs) to offer a broader range of FD choices.
Their app is freely available for download on both Android and iOS.
Platform Fees: Stable Money doesn’t impose any costs for its services.
Ratings: 4.6-star rating out of 5 based on 2.92K reviews.
2. Bajaj Finserv
Bajaj Finserv, a well-known name in Indian finance, provides a mobile app for managing fixed deposits (FDs). They cater to a variety of investing strategies and provide adjustable FD tenures.
The Bajaj Finserv app is available for both Android and iOS devices.
Platform fees: Free to use.
Ratings: 4.7-star rating out of 5 based on 1M reviews.
SIPs
Systematic Investment Plans (SIPs) allow you to make consistent investments in mutual funds. This concept promotes a disciplined approach to wealth growth. Here are two best investment apps for beginners that facilitate SIP investing:
1. Kuvera
Kuvera focuses on making mutual fund investing accessible and transparent. Kuvera offers a diverse range of mutual funds across various categories. This allows you to tailor your investment strategy to your goals. Plus, they enable fractional share investing, so you can start investing with any amount.
The Kuvera app is readily available on both Android and iOS devices.
Platform Fees: Kuvera has zero commission and zero subscription fees.
Ratings: 4.2-star rating out of 5 based on 13K reviews.
2. Groww
Groww, a popular investment app in India, aims to simplify the process of investing in mutual funds. Their user-friendly program, with a clean UI and simple navigation, is intended for novices.
Groww provides detailed research on several mutual funds. It helps you choose appropriate solutions for your financial objectives.
The Groww app is available for Android and iOS smartphones.
Platform Fees: The app is free.
Ratings: 4.2 stars out of 5, based on 1.1 million reviews.
P2P Lending
Peer-to-peer (P2P) lending systems allow borrowers to contact lenders directly, providing an alternative to typical bank loans.
1. LenDenClub
LenDenClub is a major player in the Indian peer-to-peer lending market. It is a P2P lending platform that allows you to interact directly with borrowers in India. Their smartphone app is available for Android and iOS.
You may invest in various loan alternatives, including personal loans and those for small enterprises. They accept fractional investments. This allows you to diversify your risk over numerous loans.
Platform Fees: LenDenClub does not impose platform fees to facilitate peer-to-peer lending transactions.
Ratings: 4.1 stars out of 5, based on 3K reviews.
Stock Trading Apps
The world of stocks offers the potential for significant returns but also carries inherent risks. Here’s a comparison of the two best investment apps in India to invest in stock:
1. Zerodha Kite
Zerodha Kite is a sophisticated mobile app created specifically for Indian investors. It provides powerful charting capabilities for detailed market analysis, detailed research papers to help investors make informed judgments, and several order placement tools for brilliant trade execution.
The Zerodha Kite app is available for download for Android and iOS smartphones.
Platform costs: Zerodha does not charge platform costs; however, the demat account has an AMC of Rs 300.
Rating: 4.2 stars out of 5 based on 1 million reviews.
2. ICICI Direct
ICICI Direct’s user-friendly mobile app reaches a wider spectrum of Indian investors. In addition to equities, you may invest in mutual funds and even IPOs (Initial Public Offerings) all through one site.
Their app is available for Android and iOS smartphones.
Platform Fees: Here’s a quick description of ICICI Direct’s platform fees:
Account Opening: Annual Maintenance Charge (AMC): ₹300 per year for Demat accounts only.
Trading fees (e.g., selling stocks) are typically ₹20 per transaction.
Rating: 4 stars out of 5 based on 61K reviews.
Cryptocurrencies
Here’s an overview of two major Indian cryptocurrency exchanges to assist you in understanding this asset class:
1. WazirX
WazirX is a viral cryptocurrency exchange in India. It provides a user-friendly smartphone app for both new and seasoned cryptocurrency fans. The app is available for both Android and iOS. WazirX offers a range of features, such as P2P trade, which allows users to purchase and sell directly with one another. Additionally, it provides staking benefits for holding specific coins.
Platform Fees: WazirX charges a fee of 0.1% on each transaction.
Rating: 3.9 stars out of 5 based on 659K reviews.
2. Mudrex
Mudrex positions itself as a more advanced platform for crypto investors in India through its mobile app. Mudrex’s app, like WazirX’s, is accessible for Android and iOS smartphones.
They target advanced customers by offering options like copy trading, basket orders, and automated trading bots for hands-off investing techniques.
Platform Fees: Mudrex charges a withdrawal fee of 1% + applicable taxes (18%) and 1% TDS.
Rating: 3.3 stars out of 5 based on 6K reviews.
Real Estate
Real estate has always been a popular investment choice in India. Here’s a look at two popular real estate sites to help you get started on your real estate investments.
1. 99acres
99acres is a popular real estate marketplace in India. Its Android and iOS mobile apps make it easier to look for properties. The app enables powerful search filters based on location. It also lets you pick a budget, choose property kinds (residential or commercial), and choose amenities to help you discover the perfect location.
Platform fees: 99acres does not charge for brokerage or commissions. You pay the Subscription charges for the plan you choose.
Rating: 4.3 stars out of 5 based on 762K reviews.
2. MagicBricks
MagicBricks, another top real estate portal in India, provides a whole property search experience. The app is available for Android and iOS.
Like 99 acres, you’ll discover user-friendly search filters and extensive property descriptions. However, MagicBricks enables access to local information. It also provides market trends. These features allow you to make educated selections.
Platform fees: Magicbricks does not charge any brokerage fees.
Rating: 4.2 stars out of 5 based on 265K reviews.
Factors to Consider While Choosing the Right Investment Platform
Here are the key factors to consider when choosing the best investment app in India:
Align the platform with your investing objectives. Look for financial stability (FDs), growth prospects, or alternate rewards.
Consider the platform’s user interface, research tools, investment opportunities, and portfolio management capabilities.
Compare platform fees, brokerage charges, and any other transaction expenses.
Choose a trustworthy platform with strong security measures and regulatory compliance, particularly for risky assets like cryptocurrency.
Reliable customer assistance is essential for addressing questions and managing any platform challenges.
Conclusion
Congratulations! You have taken the first step toward a brighter financial future. This article will introduce you to the interesting world of investment apps in India and provide you with a wide range of options, such as secure fixed deposits and dynamic cryptocurrency platforms.
The cornerstone of effective investing is selecting an app that matches your financial goals and risk tolerance. These best apps for investment in India provide valuable resources at your fingertips. With these characteristics, the investing process may be streamlined. So, seize the opportunity for advancement; your financial path begins now!
FAQ
1. How much money do I need to start investing?
The benefit of many digital venues is that you can usually start with a lower quantity. SIPs in mutual funds and fractional share investing on some platforms allow you to start investing with a small amount and progressively build your portfolio.
2. What if I’m a complete beginner?
Many platforms include instructional resources and intuitive interfaces to help newcomers. Furthermore, there is a plethora of information accessible through online investment apps and through financial consultants to assist you in comprehending various investing possibilities.
3. Is it safe to use apps to invest money?
Apps to invest money platforms prioritize security measures such as encryption and two-factor authentication to safeguard your financial information. However, using a well-established platform with a proven track record is recommended.
Team LenDenClub
LenDenClub is India’s largest alternate investment platform which started operations in India in 2015. We have been helping investors diversify their investments beyond traditional investment instruments ever since.