7 Best App To Invest In Mutual Funds In India 2023 | Cashify Blog (2024)

FAQs

7 Best App To Invest In Mutual Funds In India 2023 | Cashify Blog? ›

Which app is best for mutual funds? Some of the best apps to invest in mutual funds are Groww, Coin by Zerodha, ET Money Mutual Fund App, Paytm Money Mutual Fund App, Scripbox, Sqrrl, Kuvera, and myCAMS Mutual Fund App.

This rule is one of the most basic rules that help an investor become a crorepati. It says that if you invest Rs 15,000 a month for a period of 15 years in a stock that is capable of offering 15% interest on an annual basis, then you will amass an amount of Rs 1,00,27,601 at the end of 15 years.

Yes, we are talking about debt mutual funds here, not equity mutual funds. Debt mutual funds are likely to offer better returns in 2023. They will offer even higher returns when the RBI starts cutting interest rates.

2023 is a great time to start investing. But so was 2022. The key point is that over the long term, investments generally do grow in value, even if there is some early volatility. It is far better to invest now, whenever now happens to be, rather than waiting for some ideal future opportunity.

In addition to this, the Indian government's green energy push has led to the renewables industry growing at an astounding rate. Moreover, the forthcoming budget for F.Y. 2023-2024 will likely push renewables even further. This makes the energy sector one of the best sectors to invest in India right now.

How to save 2 crore in 15 years? ›

Assuming an annual return of 12%, you need to invest around Rs 21,500 every month to create Rs 50 lakh in 10 years. Similarly, you need to invest around Rs 39,500 every month to create Rs 2 crore in 15 years. Do not think round figures like Rs 50 lakh or Rs 1 crore will be enough to achieve your long term goals.

To amass a corpus of ₹1 crore in 10, 15, and 20 years via mutual fund SIPs, the monthly SIP amounts required are as follows for investors with a moderate risk appetite: ₹40,040, ₹19,819, and ₹10,009, respectively. These amounts are based on an assumed Compound Annual Growth Rate (CAGR) of 12%.

If a SIP of Rs 10,000 had been started in it 5 years ago, today this amount would have been Rs 12.72 lakh. The fund has given an annual return of 30.62 percent in these five years.

Yes, Groww demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). Groww acts as only an intermediary between the customer and the central depository.

Zerodha is a genuine and trusted stock broker. They are among the lowest risk broker for the following reasons: Zerodha is a debt-free. Unlike other large brokers, Zerodha offers broking services only.

1. SBI Small Cap Fund Direct-Growth. The SBI small-cap fund has an AUM of INR 9,620.21 cr and an expense ratio of 0.84% as of the 16th of August 2021, with a Net Asset Value (NAV) of INR 102.68. Due to the fund's exceptionally high risk, the minimum SIP is INR 500.

How to grow money in 2023? ›

Despite what some may think, 2023 is still a good year to invest in real estate, thanks to advantages like long-term appreciation, steady rental income, and the opportunity to hedge against inflation. Mortgage rates are expected to decline, but the housing market is likely to remain competitive due to low supply.

As we look towards 2023, the Indian economy is expected to recover from the pandemic's impact and grow at a rate of 7.5% to 8%. The government's focus on infrastructure development, ease of doing business, and initiatives like Make in India and Atmanirbhar Bharat are expected to boost the economy's growth.

Will stocks rise again in 2023? ›

Currently, the consensus estimate is for an 8% contraction in the growth rate, followed by a 6% contraction in the second quarter. For calendar-year 2023, the consensus earnings estimate is for a 2% contraction. But that estimate is still coming down, and based on historical patterns, could continue to do so.

If you have 10Cr INR today, it will take you roughly 28 years to spend it. (Assuming a spending rate of INR 10,000 per day) The interesting part is: - Most self made 10Cr folks don't want to retire. - And, most folks obsessed with early retirement don't make 10Cr. Very solid second point I see many who retired in 30s.

Increasing the SIP amount by 5% annually would let you reach Rs 1 crore in 7 years 8 months at 12% interest.

I think if I will ask “Is 1 Crore enough to Retire?” most of you will say “Yes” & even I agree in some of the cases it will be YES. But unfortunately in most cases, Rs 1 Crore will not be able to provide you decent income to survive.

Assuming an individual plans to accumulate a corpus of ₹1 Crore over a period of 10 years and the fund generates an annualized CAGR of 12%, then they need to start a monthly SIP of around ₹43,040 to achieve the required corpus.

What is the interest of 1 crore per month in SBI? The SBI bank offers a monthly interest of 3.40% - 6.30% on an investment of Rs. 1 crore.

By investing Rs 50,000 per month one time, he could look to accumulate Rs. 19.16 lakhs in twenty years with 20% annualized returns. We have taken a weighted average of the return of each fund after considering the lower 3-year and 5-year returns as the return over the 20 years.

Calculation of SIP returns

To understand this, let us take an example. A monthly investment of Rs 5,000 for 10 years at an expected rate of return of 12 per cent will earn you Rs 11.61 lakh.

5 year SIP of Rs 50000 monthly = Rs 42 lakh. 10 year SIP of Rs 50000 monthly = Rs 1.1 crore. 15 year SIP of Rs 50000 monthly = Rs 2.5 crore.

Your mutual fund investments reside at asset management companies (AMCs). Therefore, if theoretically, Groww shuts down, your mutual funds are safe at the AMC.

What are the disadvantages of Groww app? ›

Groww Cons (Disadvantages)

Limited investment products with no option to trade in commodity, and currency segment. No Call and Trade services. Do not provide stock tips, research reports, or recommendations.

There is no upper limit to the amount of money that can be withdrawn from the trading account. Withdrawal limit is subject to availability of withdrawable balance in the trading account.

Both Upstox and Zerodha are popular online discount brokers. Upstox is better than Zerodha in following ways: Upstox provides access to 3rd party trading software like Dartstock, NEST Trader and Fox Trader for advance traders. Zerodha only offers Kite as a trading platform.

Good Average Annual Return for a Mutual Fund

For stock mutual funds, a “good” long-term return (annualized, for 10 years or more) is 8% to 10%. For bond mutual funds, a good long-term return would be 4% to 5%.

According to Bloomberg data, Bitcoin emerged as the top-performing asset class in Q1 2023, with gains of around 73%, making it the digital currency's best quarter since Q1 2021, where it notably gained 103%, which signalled the onset of the last bull run.

Consider investing Rs 15,000 per month for 15 years and earning 15% returns. After 15 years, the total wealth will be Rs 1,00,27,601 (Rs. 1 crore).

What sector to invest in 2023? ›

The five most common asset classes are equities, fixed-income securities, cash, marketable commodities and real estate.

Equity funds are the best mutual funds to invest in for the long term. Opt for a growth mutual fund option to easily reach your long-term goals, as the fund's returns will compound over time.

Higher studies

i is the annual interest rate. Applying the formula, the cost of higher studies after 20 years will be : 20 lakh (1+0.09)20 that comes to 1.12 crores.

When you have your investment money, Ramsey recommends mutual funds, but you might also consider ETFs, which are cheaper and easier to buy and sell. The best home for this investment is a 401(k); but, if your employer doesn't offer one, Ramsey suggests using after-tax money to fund a Roth IRA.