It only takes minutes to start a SIP. The most difficult part is being able to stick with it for 10 years, and the app you use is more likely to be a bigger part of that than you realize. But if setting up a mandate is cumbersome, or your portfolio is difficult to understand, you don't check in and checking in is where good habits liekly fade away.
Then, what is the best SIP application? There is no one winner, there is a winner best suited for you. In this guide, you'll get a comparison of the five popular choices as well as how to choose.
What Makes the Best SIP App?
Know what to compare names before making comparisons. The good apps all have the same principles and where they differ are in the details.
Quick and Reliable SIP Setup
It should take just a few minutes to select a fund, establish an amount and configure UPI autopay. Failure to pay an instalment due to the failure of a mandate is no way to utilize automation.
Direct Plans and Transparent Costs
The expense ratio on a direct plan will be smaller than a regular plan and the savings will be multiplied over the years. Make sure that there are direct plans available, and read the fee page for anything other than the SIP itself.
Clear Portfolio Tracking
The money you have invested, current value and returns should be displayed on one screen. If it takes 5 taps to find, you will stop looking.
Flexibility
Life changes. Check for step up SIPs (step up amount every year) and the facility to stop, alter or terminate without any hassles.
Trust and Regulation
Select a platform registered with SEBI and having a secure login. You do not hold your units through the app, you hold them through the fund house and/or their registrar.
5 Best SIP Apps in India at a Glance
|
App |
Best for |
SIP strength |
Extras |
Watch-out |
|---|---|---|---|---|
|
Groww |
First-time investors |
Fast setup, clean fund discovery |
Stocks, fund comparison, SIP calculator |
Basic planning tools |
|
Zerodha Coin |
Disciplined, self-directed investors |
Direct plans, no-frills execution |
Links with Kite for stocks |
Plain look for beginners |
|
ET Money |
Goal-based investors |
Goal tracking, reminders, summaries |
Expense and tax tracking |
Some features may be paid |
|
Paytm Money |
Simple, all-in-one use |
Easy search, quick SIP start |
Stocks and IPOs |
Fewer planning features |
|
INDmoney |
Global exposure, one dashboard |
Mutual fund SIPs plus wider tracking |
US stocks, tax tools |
Can feel feature-heavy |
Features and charges change often. Confirm details inside each app before you start.
Best SIP Apps Reviewed
1. Groww: Best for First-Time Investors
Groww makes learning to invest easy. There are no many jargons used in the interface, easy browsing of the categories and you can compare the funds side by side before committing. It eliminates a lot of the fear for a person who's beginning with a minimal monthly payment. The trade-off is that it's fairly simple tools to plan for goals.
2. Zerodha Coin: Best for Disciplined, Low-Noise Investing
Coin's attention is on the direct mutual funds, and keeps its distance. It works well for investors with an established investment objective and who don't want a lot of reminders or nudges. Having all these facilities in one ecosystem, is convenient for those who also trade through Zerodha's Kite. For those who are really new to the game, it can be easier to use than other apps.
3. ET Money: Best for Goal-Based Planning
With ET Money, you begin with your goals like retirement, education for your child or emergency fund and move backwards to a SIP. It also records expenses and taxes – something that is quite useful for those whose incomes are based on salary. Reminders and summary from time to time keeps you regular. Review the features to determine if they are offered as a free choice or are available only with a subscription.
4. Paytm Money: Best for Simple, All-in-One Use
This app is easy to use for those who already use the Paytm system. You can easily search funds, compare the categories and start a SIP without a long process. It also features stocks and IPOs, for you to build on later. Has less planning tools than ET Money.
5. INDmoney: Best for Global Exposure and a Single View
INDmoney urges investors to come to the platform who wish their investment portfolio to be monitored together which includes mutual funds, US stocks and other investments. If you're investing through multiple platforms, its tax tools and portfolio insights can be beneficial. If you're looking for a simple monthly SIP, the extensive functionality might be distracting.
How to Choose the Best SIP App for You
If You Are a Beginner
Make it easy and quick to set up. An app that you like opening beats an app that you have more features you don't use.
If You Already Trade Stocks
Think of the app that is related to your broker; SIPs, stocks and monitoring are in a single place.
If You Want Planning Tools
Choose an app that is based around goals, reminders and step up options, that will help you stay consistent when motivation wanes.
Common Mistakes to Avoid
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Taking advantage of cashback offers. You don't have to worry about promotions lapsing, your SIP does.
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Failure to consider regular vs. direct plans. Just make sure you determine which one you are purchasing.
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Having too many SIPs spread out among too many apps. It makes it more difficult to monitor and less likely to be enforced.
Final Verdict
The app will not determine your returns. Your choice of funds, your time in the market and your consistency will. Select the platform that is the most convenient for you to stick with. Groww is a favorite among beginners, Zerodha Coin suits self-directed investors, ET Money works well for investors who like to plan, Paytm Money is ideal for simple investing, and INDmoney suits globally minded investors. To compare their charges, features and reviews side by side, visit The Top Stock Broker before you choose.
Ready to start? Discuss SIP applications and start your first SIP today. Don't know how much to put in? Get an idea of what ₹5,000 a month can turn into by using our free SIP calculator.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme-related documents carefully. This article is for information only and is not investment advice.