We have reached an age and time where people are opting out of high-risk-based investments and tilting more towards building long-term wealth. This has led to more and more people opting for SIP investment. Simultaneously, when SIP investments are in high demand, the demand for a reliable mutual fund app also rises. This is because a self-sufficient mutual fund app makes it easy for a beginner or a professional to start with, easily track and manage their SIP journey from one single place.
If you are someone who is planning to invest regularly in SIPs and is looking for an easy-going app to assist you with the same, then you must look out for certain features before choosing a reliable mutual fund app. Here are the top features you should look for in a mutual fund app before starting your SIP investment journey:
- Simple and Intuitive User Interface:
One of the key features that sets a mutual fund app apart from its peers is its clean and simple user interface. A good mutual fund app will have an easily accessible interface, even for skilled investors who have a good understanding of SIP in mutual funds. Look for an app that simplifies complex mutual fund data, such as a list of all your investments, the mutual fund’s historical performance data, and the expected returns.
- Easy SIP Setup and Management:
For a beginner, using an app to set up an SIP quickly is very convenient. This is also one of the major reasons why people choose to go with an app to simplify their SIP in mutual funds. That is why your mutual fund app should ideally allow you to start an SIP investment quickly, modify SIP amounts, pause, skip or stop SIPs at any given point in time and choose SIP dates as per your monthly cash flows.
- Offers a Wide Range of Mutual Fund Options:
A versatile and reliable mutual fund app should ideally offer you access to a broad range of mutual fund options and schemes across:
Equity Funds
Debt Funds
Hybrid Funds
Index Funds
ELSS Funds
Having multiple investment options allow you to diversify your SIP investments across multiple schemes and align them favourably with your risk appetite as well as financial goals.
- Portfolio Tracking and Performance Insights:
Starting an investment is definitely important, but tracking its performance is equally important. Hence, choose a mutual fund app that offers real-time portfolio value, clear data on returns over different time periods, asset allocation breakdown, and fund-wise performance analysis. These clear insights will definitely help you understand whether the SIP investment you have made is on track to meet your financial goals or needs some adjustments.
A mutual fund app plays a crucial role in shaping your SIP investment experience. The right app not only simplifies starting SIP in mutual funds but also helps you stay consistent, informed, and confident over the long term. Features like the ones mentioned above are quite significant in ensuring a hassle-free mutual fund SIP investment experience.