Mutual Fund is a very common term nowadays and investing through Mutual Funds is one of the commonest advices you would get from your personal finance advisor. In recent days, it is not a difficult task to invest through Mutual Funds because there are so many online apps are existing which will help you a lot in doing so.
But what creates a problem when you are thinking about investing through Mutual Funds is multiple number of apps are there to confuse you, such as – ETMONEY, Zerodha, Groww, Kuvera, etc. All these apps are good mutual funds apps. But which is the best?
To solve this question, we are here to help you. In this article, we have picked two of them which are, in many ways, safer than the others. These two apps are ETMONEY and Zerodha. Let’s compare the features of these apps and find out the best one!
Definition
Let’s start with ETMONEY! This is one of the best financial apps, launched in 2015, that will offer you the safest technology and the best security for financial data and transactions. It is a mobile application under Times Network and the highest rated mutual fund app that you can easily download from Android Play Store and Apple App Store. This app has already gained more than 5 million downloads.
Now have some idea about Zerodha or Coin by Zerodha. It is another secure online platform. Zerodha is one of the largest stockbroker platforms that will help you directly invest in mutual funds. With the help of this app, you can directly invest online from Asset Management companies without paying any commission.
ET Money VS Zerodha Detailed Comparison
Now, have a look at the detailed comparison between ET Money and Zerodha.
Registration Process
In ETMONEY, you have to log in through your Gmail or Google credentials. On the other hand, to be registered in Zerodha, you need to open a trading or DEMAT account. Only after opening this, you can log in to this app. So there is a slight difference between the registration process of these apps.
There is a difference in registration charges and account opening time between ETMONEY and Zerodha. While Zerodha charges Rs. 200 for registration, ETMONEY does it free of cost. Moreover, while ETMONEY takes up to 3 to 5 days for opening an account, Zerodha takes only 1 or 2 days.
But there is a similarity you will find between ETMONEY and Zerodha regarding KYC. If you have no verified KYC, both of ETMONEY and Zerodha will help you create an eKYC through the apps. Moreover, you do not have to do different KYC for different apps. If you have created it through ETMONEY, it is valid for Zerodha also, and vice versa.
User Interface
ETMONEY, which was formerly known as SmartSpends, will offer you direct mutual fund plans. This app will impress you with its unique features, such as – expense tracking, fixed deposits, insurance, credit card, and features regarding NPS.
ETMONEY is very easy to navigate. You can also use app lock feature if needed. There are tabs for Fund categories Equity, Debt and Hybrid, etc. in this app. ETMONEY also offers investment in SIP or lump sum.
On the other hand, Zerodha is an app for active users. It will help you buy and sell direct mutual funds. As soon as you open this app, you will get a clear initial view regarding your investment. Firstly, you can see a snapshot that contains the value of your current investment. Secondly, you will also get all information, including TER, just after opening the app.
There are also a few tabs in Zerodha to help you explore funds and view your investment details. UPI payments is also supported by Zerodha for purchasing of orders instantly.
Safety
It is very important to know all the information about safety of the app through which you are going to invest in mutual funds. First of all, you have to understand it clearly that apps like ETMONEY and Zerodha are just online platforms to help you in investing in mutual funds.
In case these apps go bust, your money will not be lost. Because your name and all other records regarding your investment are already registered. You just have to find another app to restart your transactions.
Customer Services
When we talk about the customer service facilities of any app, we mostly think of two ways and these are – telephonic support and online support. While Zerodha is offering you telephonic support, ETMONEY is offering you ticket and email – based support. You must keep this difference in mind while choosing any one of these apps.
Bottom Lines- Which One Is the Best
However, we think you have noticed that there are some similarities and some differences between ETMONEY and Zerodha. Now it is your task to pick the best one according to your needs. So read this article and make a wise choice.
