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To find information about mutual fund apps, you can refer to this thread
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lI suggest u to use GROWW
I can’t see any app better than Jupiter for mutual fund investments. A) you get to invest until 2pm for same day NAV b) money movement and redemption is instant in Jupiter account and last no penalty if you miss SIP
So true, earlier we were using some other apps. Now we ( My family) have shifted to Jupiter for few features like no penalty on skipping SIPs.
Well, jupiter is good but it lacks features in the information about the mutual funds. You don’t properly provide :- 1. The exit load details.
2. All the holdings of the mutual funds. I only Seems to show top holding.
3. So, overall it lacks in the information.
The only advantage I see of the mutual funds in jupiter is no panelty on sip miss otherwise if I make the sip with groww I might get changed for the ecs charges. This is the only advantage I found over the groww. Hmm… Nav details I have to check if the groww also have that policy.
But ya, definetly it’s a good app but seems like jupiter is in early stages of the app development. It might become the best.
You can skip SIP for the current month if you don’t have funds this month in Groww without any penalties. It will continue as usual next month. Like that you can skip next month too and so on.
I meant autoskip
Aah you mean Jupiter auto-skips if you don’t have funds in account and no charges are levied ?
Yes. That’s the only advantage of the Jupiter money mutual funds. If I understood it correctly. It’s they are bank itself and they can check my balance while the groww app can’t check my balance and auto skip the sip. By the way, I have observed that the customer care of the Jupiter is also better than the groww.
Are the mutual funds offered by Jupiter app also direct funds or are they regular funds? If yes, how does Jupiter make money via MF investments, is it via deals with MF AMCs like Groww does to get some revenue? @Jiten @Shawnpinto
I don’t they are thinking about earning right now from mutual funds. But they can easily earn money by promoting some funds in future.
If they do end up going the route of promoting certain funds, then it won’t be an MF execution platform anymore. And will make Jupiter a worse platform for MF investments. It’ll be no different than the traditional banks, where they shove upon you all the sub optimal investment products, just coz they have higher commissions. I can’t imagine Jupiter going anywhere other than the same route as these traditional banks which are strong no-go’s for investments, if they end up going the route of promoting certain funds.
Refusing to not invest in specific investment product that one does not believe it, is one’s own choice. And the choice of offering certain investment products in a way that suits a company’s goals is their choice
Lol I was just commenting to @Jiten’s exaggerated self glorification of his own Jupiter app, while it’s good to boast but it’s better to be realistic:
I can’t see any app better than Jupiter for mutual fund investments.
Jupiter is definitely the best app for the sip. But because it don’t mention the information like the exit load and other things you need to check that on groww. So, what I do is check the information of the mutual fund that I have screened from tickertape on the groww but invest in the Jupiter.
Jupiter will not promote any mutual fund on the platform to make money. Jupiter is an execution-only platform.
Jupiter sells direct mutual funds only, thus, AMCs don’t pay commissions or any type of money.
Jupiter is a customer-centric company. Otherwise, there will not be any difference between Jupiter and traditional banks. Same-day NAV (until 2 PM) and no-penality SIP are the core value propositions of mutual funds on Jupiter.
Same-day NAV: If a user has invested on a working day until 2 PM, he should get the same day’s NAV.
No penalty SIPs: Users should be paying penalties (charges) for their missed SIPs. We automatically skip SIPs if there is insufficient balance in the users’ Jupiter Federal saving account and save ~ Rs 500 per missed SIP for users.
By the way, I have realised that the investment app should be different than the bank transaction app cause I had realised that I was spending too much time just checking different mutual funds I have the Jupiter app so, I limit the app to used only for the 10 minutes in a day. But I still need to check the transactions sometime so I have to break the limit and which sometime lead to me again going back to checking the different mutual funds.