FundsIndia Personal Finance Android App : Review


Investing into mutual fund is tricky. FundsIndia platform makes it easy for you to handle investments. FundsIndia also has an app for Android users. Using this app investment can be easily managed and tracked. In this article, we'll check out the features of FundsIndia platform app.

New investors always struggle while making their first mutual fund purchase. Though most of the mutual fund houses allow investment directly from their website, most of the fund houses have complicated ECS and registration procedure. This makes investing into mutual funds using online interface harder. This is the issue being addressed and fixed by Fundsindia. They offer the simple interface to find funds and invest through them. You can choose the fund, download the ECS (Electronic Clearing System) form and submit to them. Everything from here goes hands-free.

Do note that investment through Fundsindia or any other broker means you are giving them some trail commission. So that means around 0.5% of the trail fees are given to such broker or the platforms. Stock transactions are charged as per the respective brokerage rate. So if you're not much of expert in handling such investment through direct plan then such platforms are good option for you.

Let's check out how the FundsIndia Platform app works.

By default app opens with the login screen and you're expected to use the credentials with which you signed up on their website. Once logged in you can find dashboard similar to the webapp. And from here you can navigate to the different areas of the app. You get the access to sections like plan, invest etc. You can perform the actions similar to the webapp from here.



Inside the dashboard you can also view the daily changes to the portfolio. Two of the most important metric - "annualized returns" and "today's changes" are listed here . I personally login every Friday and check the progress of the portfolio. Using app to view the same makes things much easier to keep tab on the portfolio.

SIP Portfolio Design

The best part of the FundsIndia is the portfolio suggestion system. On the plan page you get to set the parameters like - age, years of investment, amount and risk profile. Based on the score generated by the system you get to create a portfolio structure.

Ready to Go Porfolios

Most of the people with fixed income usually need ready to go portfolio. You get to choose from - time based, risk based and life stage portfolios. The system also has the portfolios for women and they can choose as per their risk profile. For those who are more concerned about the tax deduction can choose from the tax saving portfolio suggestions. Recently FundsIndia also launched a plan called "New India Portfolio". This plan is focused more towards the people with high risk profile.

Calculators


FundsIndia has the goal based calculators. For example calculator for the SIP to be done for the marriage, child planning, child education etc. There is also a calculator for the returns on specific mutual fund or the investment source. I'd say such calculators are handy for those who are trying to predict their investment and wish to aim for specific goal.

Investment

I'd recommend using webapp instead of mobile app for using this feature. Webapp offers more control over the features on this page. You can search for the specific fund. You can also buy stocks or even sell from this page. If you wish to buy corporate fixed deposits then this page has an option for that too. Government bonds are released each year and from "Bonds" page you can access the newly released bonds. For those who are into gold investment can find gold fund or ETF related information and access to purchase the units. Apart from these investment options, you get to buy Insurance.

Credit Report

Most of the people sign up to the CIBIL website and get their report from the website. Fundsindia offers this feature from the dashboard itself. You can just answer few questions and pay for the report. Once the payment is processed, then the CIBIL report is sent to you via email.

Asset Allocation


This is the area which should concern most of the users. As this area shows you how much money you have invested so far. This also helps you keep a tab on the money invested and gives you idea on where to invest next.

Who Should Use FundsIndia App

Anyone who wants recommendations on mutual funds, stocks, fixed deposits, gold, insurance and tax exempted investments. FundsIndia has a recommendation engine that allows you to choose the right investments for yourself. The mutual fund selector is one of the best service that you should definitely check out. If you still have any form of confusion with the investment then you can ask them to call you. The support team calls you back and then you can discuss the financial requirement and risk appetite. This way you can get personalized recommendations. If by any chance you think they are being bias towards any funds then you can simply refer to value research website and then make the decision. This app is perfect for those who want to get into investment options such as mutual funds, stocks and corporate deposits but not sure how to sign up to individual places. As this app gives you single dashboard towards all investment, it is useful for tracking purpose.

Conclusion

FundsIndia app is not as good as Perfios for managing the everyday assets. However Fundsindia is more of an app that lets you purchase assets online through their interface. It also allows you to keep tab on the assets allocation. If you don't invest through direct plans from the fund houses then Fundsindia is a good option.


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