SIP investing makes it possible to fulfill your dreams, secure your future, and build a large corpus for long-lasting financial goals. As you know how the value of money depreciates over time, and the risk of inflation remains, therefore choosing the best app for SIP investment is an effective way to generate high value for money and beat inflation.
With so many of the best apps for SIP investment and other investment options out there, choosing the right one is daunting. To help you with this, we have mentioned the 10 best apps for SIP investing that offer a seamless experience, quick access to different plans, and more.
What is SIP?
SIP, which refers to a Systematic Investment Plan, is an investment path. It is provided by mutual funds, in which the investor can invest a fixed amount in a mutual fund scheme at regular intervals. It can be once a month or once a quarter. Unlike other investment method, SIP does not require making a lump sum investment.
Like recurring deposits, the installment amount can range from Rs 100 to Rs 500 per month. You can invest through the best SIP investment app. In short, the SIP route is an effective way to invest in mutual funds and stocks as it enables investors to participate in the market while managing risk better. Also, one can give standing instructions to his/her bank to debit the amount every month.
How to Open an SIP Account Online?
If you are new to the world of SIP investment, the process of opening a SIP account online may seem scary. Don’t panic! The section below is your answer to how to open SIP account online, designed to guide you through the process in minutes so you can start enjoying the benefits of SIP. Let’s check the steps on how to open Sip:
Step 1: Collect all of your important documents
To start, collect the required documents such as a PAN Card (required for any financial transactions), Address proof (such as driving license, Aadhaar card, bank statement, or utility bill with current address, which will be sufficient), and cancel the cheque
Step 2: Choose your SIP investment app
You can either choose a SIP app or other options, such as mutual fund sites and your bank’s site. Make sure to check out different platforms so you know which platform suits your needs and offers the SIP you are interested in.
Step 3: Get the KYC done
In India, KYC or Know Your Customer verification is a mandatory step for all financial transactions. There are several platforms that offer e-KYC, enabling investors to upload their Aadhaar card and PAN card and complete the process with a video call for quick verification.
Step 4: Enroll and Create your investment account
After selecting the best app for mutual fund sip of your choice, submit your necessary information such as email address, name, and contact number for registration. Once this is done, follow the instructions to create your investment account.
Step 5: Choose your SIP
After the account configuration, you are able to explore the variety of available SIP options. While making a choice, take into account aspects like risk tolerance, etc.
Step 6: Specify the Amount and select the scheme name
Configure your SIP plan in a way that you set the starting date of the SIP amount you want to invest, and most importantly select the period from quarterly, monthly, etc. Instead, you can start the lump sum investment first and start your SIP later.
Step 7: Connect bank account
To generate the link for automatic SIP payments, you will need to provide your bank account details, such as the canceled cheque details.
Step 8: Examination and confirmation
Make sure to check all the details you have provided, including your SIP frequency, amount, and bank account information. Lastly, confirm your SIP to kick off your investment journey.
Top 10 SIP Apps – Editor’s Choice
In recent times, the sip gives a new way to invest and earn. Based on this most people are looking for the best sip investment app. The best answer is here, we have listed the 10 best sip app in India. They are:
1. Fisdom – Best App For SIP Investment
Fisdom is a comprehensive capital wealth advisory platform and the best app to start SIP, with easy-to-use portfolio management, complete analysis tools, and a user-friendly interface. The platform enables you to put money into a range of financial goods, such as health insurance, pension funds, mutual funds, gold bonds, and many others. If you are wondering which platform is best for sip investment, fisdom is one you must check.
Features:
- Zero processing fees for direct MFs – Flat Rs 20 for agent MFs
- Covers over 5000 mutual fund schemes
- Let you invest from Rs 500 to 20,000/Monthly
- Offers customized investment advisory service with likely return rate per annum
Advantages of Using the App:
- Intuitive and simple to use
- No hidden charges
- Easy KYC process
- Open trading or demat accounts free of cost
2. Groww
Groww is the best app for sip mutual fund investment with easy to user interface that encompasses features such as direct plans, recommendations, and goal-based investment. On this best app for sip india, you will have the ease to select between direct and regular mutual funds. Make sure to learn the daily sip groww concept on it for smooth investment. We will also cover how to start sip in groww in another article, so stay tuned!
Features:
- Zero processing fee
- Covers over 5000+ including stock trading
- Competitive stock trading at a reasonable brokerage rate with live analysis and market data
- Transaction history and portfolio tracker
- Registered with RBI, AMFI, and SEBI
- Groww Sip Charges: Rs 100 to Rs 150 for investments worth Rs 10,000 and above
Advantages of Using the App:
- Paperless KYC Verification
- Easy Onboarding procedure
- Commission-free investment
3. myCAMS Mutual Fund App
myCAMS Mutual Fund is the best app to invest in Sip in 2024. The platform delivers all vital specifications in a user-friendly interface, enabling you to invest in direct and regular mutual funds. Also, this best app for sip investment offers features such as transaction history, SIP calculator, and more.
Features:
- Sip investment for beginners and experienced users due to its user-friendly interface
- Invest in both regular and direct mutual funds.
- Enables user to track the performance of all their mutual funds
Advantages of Using the App:
- Best app to buy sip and a wide range of mutual funds
- Supports numerous payment methods, such as debit cards, UPI, net banking, and NEFT.
- Enables to create of Multiple folio
4. Kuvera
Kuvera is the best platform for sip investment, offering investors to invest in mutual funds. Founded in 2017, it primarily focuses on saving direct plans, allowing investors to save on paying fees. Kuvera also enables users to invest in mutual funds as SIPs or as a lump sum.
Features:
The best app for sip investment features are:
- Zero Processing fee but transaction charges range from 0.12% to 0.05% of trade value
- Covers over 5000+ mutual fund options
- Registered as an Investment Advisor with the SEBI
- Easy to navigate and use
- Send alters after adding new features
Advantages of Using the App:
- Best online app for sip investment
- 0 fee higher returns
- Features 50 different fund
- Committed to customer support by having availability on tweet, email, and chat
5. ET Money
Another best platform for mutual fund investment that allows you to invest in direct and regular mutual funds. Users can invest in direct mutual funds via lump sum or SIP based on their financial goals and preferences. What’s more interesting, this best direct mutual funds app also provides users with personalized recommendations.
Features:
- Processing Fee of Rs 499 for account opening
- Direct and Regular Mutual funds
- Comprises more than 2,000
- Registered with RBI, AMFI, and SEBI
- Enables smooth transition
- Hassle-free onboarding procedure
Advantages of Using the App:
Among others this is one of the best apps for sip investment and have good advantages:
- Top mutual funds app, offering customized investment suggestions
- Reduce tax liability by investing in ELSS with a 3-year lock-in period
6. INDmoney
Yet another best platform to invest in mutual funds, enabling users to invest in a broad range of financial goods, including US stocks, mutual funds, and many others. Among the leading mutual fund apps in India, it also provides Demant accounts and zero-cost trading. The comprehensive analysis of mutual funds, user-friendly interface, and customized financial assistance based on individual financial goals and risk tolerance help investors make informed decisions.
Features:
- Zero Processing Fee
- Covers over 5000+ mutual funds from over 45 AMCs across India
- All mutual funds in one app, including large-cap, equity, small-cap funds, etc.
Advantages of Using the App:
- Zero transaction and commission fee
- Comprehensive fund analysis
- Strong security protocols
7. Zerodha Coin
A user-friendly and cost-effective way of managing your SIPs, Zerodha Coin includes various features, such as maximized savings on commissions and transaction history. It is the top mutual fund app in India with no extra commission fee.
Features:
- No processing fee up to an investment of Rs 25,000 then Rs 50 monthly thereafter
- Comprises more than 5,000 options, including stock trading and best sip in Zerodha
- Lower expenses and higher potential returns
- Features like transaction history and portfolio tracking
Advantages of Using the App:
- No expense ratio
- Greater investment flexibility
8. KFinKart Investor Mutual Funds – Best Apps For SIP
An all-in-one mobile app for handling mutual fund and SIP portfolios, KFinKart makes mutual fund buying, selling, and switching easy and convenient. This is the best way to invest in sip. What’s more, it reduces personal visits to middlemen and paperwork. The site also sends timely notifications, ensuring you never miss important investment deadlines or opportunities.
Features:
- Zero Processing Fee
- Covers more than 2000 options
- Exclusive fund info and portfolio tracking features
- Personalised recommendations and a user-friendly interface
- Provides sip direct options
- Offers comprehensive fund analysis
- Goal planning features
Advantages of Using the App:
- Responsive and Fast mutual fund app
- No brokerage fees or commission
- Offers ELSS fund investments
9. 5Paisa
Which is the best apps for sip investment? If you are looking for the safest direct mutual fund apps, check 5Paisa. It is designed to cater to traders of all levels, offering plenty of features and a user-friendly interface. While it offers great options for investing and trading, it can involve a bit of a learning curve and sometimes face technical issues.
Features:
- No account opening fee (brokerage per trade charges Rs 20)
- Comprises 9000+ schemes
- Access to stock market trading and IPOs
- Registered with CDSL, SEBI, MCX, and NSE
Advantages of Using the App:
- Cost-effective investment plans
- Zero commission for mutual fund investment
10. Upstox
A user-friendly site with a variety of investment plans, including mutual funds, ETFs, and stocks. Upstox has a number of the latest features like a risk calculator, a mutual fund screener, and extensive info about SIPs and mutual funds. This is the best platform for beginners.
Features:
- No Processing Fee
- Covers 2000+ mutual funds
- Enables to filter mutual funds based on financial goals
- Comprises Risk calculator
- Notifies about upcoming dividends, important events, and redemption dates.
Advantages of Using the App:
- Crucial further features
- Better user experience
- User-friendly interface
Tips to Find the Best SIP App in India – Factors to Consider
Choosing the best app for mutual fund is important for safe and smooth investing. Below are the factors to consider while choosing the one:
- Easy to navigate platform – Opt for apps with user-friendly interfaces for suitable investment management. Also, check if it is suitable for SIP for beginners.
- Various funds options – Select apps that offer multiple funds from different organizations for more investment options.
- Regulatory sanction – To know which app is good for SIP, the best thing to do is to check for the approval given by financial authorities like SEBI for further security.
- Price Considerations – Compare the expenses and fees of different apps to know which best suits your budget.
- Security options – Make sure about the strong security measures to safeguard your financial information.
- Real-time updates – Get performance updates on your SIP investment to stay connected.
- Analysis Tools – Opt for an app comprising research tools for making wise investment choices.
- Smooth Transactions – Go for an app with a smooth process for selling, buying, and switching funds.
- Investment & SIP flexibility – Make sure whether or not the apps enable for flexible investing options.
- Account handling – Make sure you are allowed to update your personal data and link your bank account.
- Customer Support – Make sure prompt customer support is available for your help and query investors whenever you need it.
- Specific option – Some SIP apps feature certain options, allowing you to save for goals like education or retirement.
- Performance Record – Look for its performance history for technical issues and reliability.
- Compatible with your device – Make sure the app you choose works seamlessly with your mobile or PC for hassle-free investing.
Final Thoughts
The aforementioned are the 10 best Apps for SIP investment in India, allowing users to manage their investments safely, confidently, and conveniently. Before you start, make sure to check the sip stock list 2024 and also go through the guide on how to choose mutual funds for sip. Also, consider risk tolerance, goals, potential charges, and the terms & conditions before starting investing.