Paytm vs ET Money vs Coin: Which is the Best Mutual Fund App?

There are dozens of apps offering free and direct mutual fund investments. What sets them apart from each other is the interface, ease of use & investment options. Out of all the investment apps available, we take a look at three of the most popular apps: ET Money, Paytm Money & Coin by Zerodha.

ET Money

Features:

  • Easy to sign up. The account can be linked to Google for a quick set up.
  • No Charges for Direct Mutual Fund Investments.
  • There is an ‘Investment Check-Up’ option to get your existing mutual fund portfolio auto analyzed for feedback.
  • The App provides an option to buy term, health & auto insurance.
  • Personal & Business Loans can be availed via the app.
  • Users can aggregate and manage all bill payments within the app.

Best For: ET Money scores well in terms of the variety of products that can be bought. Not just mutual funds. It is a one-stop app for purchasing all financial products.

Paytm Money

Features:

  • No charges on Direct Mutual Fund Investments.
  • Can be linked to an existing PayTM account.
  • Alongside every mutual fund, it shows the star rating given to it by Morningstar, CRISIL & Value Research. These ratings are quite useful in helping users decide which fund to invest in.
  • It has a feature to add savings goals (such as Home, Vacation, Emergency Fund, Car, etc.). As you save and invest, there is a progress chart showing what percentage of the goal is met.
  • The app lets you take a risk assessment test and classifies your risk based on a set of questions.
  • Based on risk, the app suggests curated investment packs which bunch together different mutual funds.
  • There are also Investment Ideas such as: ‘Index funds’, ‘Large-Cap Companies’, ‘Better Than Savings Account’ etc.

Best For: Purely Mutual Funds. The PayTM app provides the widest range of add on features.

Coin by Zerodha

Features:

  • Login/sign up can be done by opening an account with Zerodha.
  • No charges on Direct Mutual Fund Investments.
  • The user interface is minimal and clean.
  • Funds are clubbed in categories such as ‘Best of Equity’, ‘Best of Debt’, ‘Best of Tax Saving’.
  • The app has podcasts and other useful educational information.
  • It links seamlessly with the rest of the Zerodha universe, which includes another platform (Kite) for investing directly in stocks.

Best For: For users who are looking for a clean & minimal interface, and would like to dive deeper into Stocks, Bonds, Futures & Options via Zerodha’s other apps.

Bottomline

Choosing which app to use depends on what you are looking for apart from basic mutual fund investing.

ET Money is the best app to get all your financial products in one place.
Paytm Money offers the most curated selection of mutual funds along with matching you to the best funds based on your risk profile.
Coin by Zerodha is perfect for investors looking to go beyond mutual funds and into other investments such as stocks and bonds through the Zerodha ecosystem.

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