To help you get started as quickly as possible, I’ve prepared this list of fintech apps in India. Categorized into different sections.
In each section, I’ll simply mention one fintech app/platform that’s simply the best in the category.
Because there are hundreds of listicles online where you can find dozens of platforms recommended for investing, savings, market research, and more.
But this makes it hard for a beginner as it creates a choice dilemma. This isn’t a list of “What I Use”, it doesn’t matter what I use.
Instead, this list should help you jumpstart and you wouldn’t have to worry about getting scammed, or choosing the wrong platform.
This is a list of what YOU can use if you’re not sure where, to begin with investing or saving your money.
Investing in Stock Market
Zerodha is the best platform to invest in stocks. It’s not just easy to use, but it’s way better than any other discount brokerage platform in India.
Zerodha is a discount broker, founded in 2010 by Nithin and Nikhil Kamath. It charges a flat fee, which is something they did first in India. The delivery of shares is free and you don’t have to pay any monthly fee.
With a Zerodha account, you get access to multiple investment platforms such as:
- Kite – Their flagship trading app.
- Console – Back office admin dashboard with consolidated account info, investment data, holdings, tax and more.
- Coin – Direct mutual fund investment app
- Varsity – one place to learn about finance
It also allows you to connect with third-party apps via API. Such as TickerTape, which allows you to analyze your holdings without manual input and for free.
Zerodha also offers commodity trading, Futures, and Options trading, SGBs issues, Currency Derivatives, IPOs, Bonds, ETFs, and equity margin via pledging shares.
It also integrates with SmallCases. A platform where stocks are grouped into one investment instrument which can be purchased as an asset to reduce risk and gain better returns than the category benchmark.
Kite by Zerodha is the finest trading app you will find in India. There’s no other app like it. Simple, easy to navigate, loaded with tons of information to research about a company, beautiful space for tracking your holding, positions, and more.
Plus, Zerodha allows you to start SIPs and create backsets of stocks. Just like you invest in Mutual Funds via monthly investment plans, you can do the same with stocks using Zerodha.
Investing in Mutual Funds – Direct Do It Yourself
With Groww, you can start investing in mutual funds in minutes. It is my favorite investment app out of everything I’ve tested so far.
Groww is extremely beginner-friendly and it makes investing fun, easy and frictionless.
There is no account maintenance fee. It’s completely free. They don’t charge any commissions on mutual fund purchases.
Groww also allows you to invest in:
- Indian stocks
- US stocks
- Digital Gold
- Fixed deposits
You can set up SIPs, change their amount and date whenever you want, and keep track of your external investment inside Groww. They have a very active and helpful support team too.
Overall, it’s the easiest way to begin your investment journey. And it’s totally free.
Investing in Mutual Funds – Direct Assisted
MoneyJar is a platform I’d recommend for busy salaried employees. Or people who simply wish to start investing their money but don’t have the time or will to study the market.
How is MoneyJar different from Groww?
With MoneyJar you are not “entirely” making your investment decisions. There is a system in place and a team of experts to help you.
There are baskets of mutual funds (2 or more funds combined as one investment instrument) called Jars. These Jars are sort goals based on your risk appetite and investment objective.
Jars are built for short-term goals, aggressive/conservative, long-term goals and more. Funds in these Jars are carefully selected to give you the best results possible in the time and proportional to the risk taken.
The best part is, they do a quarterly rebalancing of your Jars if needed. Which you won’t get for free 99 out of 100 times.
Plus, if you ever need any guidance or help with your investments, you can reach out to the MoneyJar team and they’ll help you one-on-one.
Track Your All Investments in One Dashboard
INDmoney is a one-of-a-kind app. There is no other app in India as of now, that comes close to what it offers.
With one app, INDmoney, you can track all investments you’ve made linked to your email and PAN in one place. Your stocks, PPF, EPF, bank account, mutual funds, NPS, AIFs and more.
It also allows you to invest in mutual funds commission-free, buy US stocks without paying outward remittance charges, and invest in FDs without a bank account.
INDmoney consolidates your investments and liabilities, then calculates your net worth. Any loans, credit card liabilities you might have are subtracted from your investments and then it shows you your net worth.
It has a great stock tracker, which also gives you buy/hold/sell recommendations (only on paid membership).
INDmoney also provides you with family office services.
All in all, if you’re looking to consolidate your investments and also invest in US stocks for free, INDmoney is worth checking out.
I’ve written about INDmoney in quite detail here. In fact, I’ve written the single most detailed piece on INDmoney out there.
Track Your Finances, Savings & Expenses
Wallet by BudgetBakers is the single best wallet app out there. I’ve literally tested all the other apps, from Walnut to Spendee, yet they all don’t seem to match up with Wallet.
Wallet is a budget planner, expense/income tracker that links to your bank account.
It then syncs your transactions into the clean and intuitive dashboard. Where you can automatically categorize each transaction, add a label, create custom categories, custom rules, and define a budget.
Some of its features like automatic rules are entirely exclusive. Each time a transaction happens, Wallet will automatically define a category, add a label and adjust the budget accordingly. You can also see future projections of your expenses, budget usage and cash flow.
It’s completely customizable, so whatever you need from an expense tracker /budger planner, Wallet should be able to fulfill your needs.
There are many neobanks arriving in India. But one that has established itself as a stable and reliable neobank is Fi.
Fi is a great app for people who don’t like conventional banking apps and want a zero balance account without any strings attached. Where you can perform daily transactions and not worry about fees, charges and so on.
With Fi, you get all of that freedom and more. Fi has partnered with Federal Bank which means your money is kept in an RBI regulated bank. However, you get to use a much more user-friendly app compared to Federal Bank’s slow and grumpy app.
Fi also comes with many features, such as Money Plants. Which is a reward system where you earn money plans for specific transactions and save money towards a goal. You get a free debit card, UPI access, and an AI assistant that pulls up transaction data and answers finance questions for you.
So, if you’re looking for a way to bank without any strings like it’s supposed to be, ch
Credit Line App
Note – Unless you absolutely, positively need to get a line of credit, don’t get one.
If you already have a couple of credit cards and don’t need cash to grow a business or to spend money on something significantly bigger than your cash inflow that you know you will be able to pay off, don’t take a line of credit.
However, if you still wish to, I’d recommend using MoneyTap.
MoneyTap is the easiest way to get a line of credit. You simply download their app and complete the onboarding process.
Within a few minutes, you can see how much credit limit you can get, the interest rate and withdraw the money to your bank account.
You can get a credit limit of up to INR 5,00,000 from MoneyTap. To pay back the loan, you can opt for EMI repayment.
There is no monthly fee or annual fee. Plus, you don’t need to put up any collateral – MoneyTap offers an unsecured line of credit.
They also offer a Card that is linked to your credit line which makes MoneyTap usable in stores and directly for e-commerce purchases.
Sezzle allows you to shop on thousands of e-commerce websites, without paying the whole price upfront.
Instead, with Sezzle, you have to pay for your purchases in 4 installments. The first installment at the moment the purchase is made. The rest at every 2 weeks of interval.
You can directly checkout via Sezzle, there is no UPI or a card. If you skip the installments for the first time, there are no charges.
If you’re looking for a pay-later service mainly for shopping day-to-day products, such as ordering from Zomato, Simpl is a better option.
With Simpl, you can get a credit limit of up to INR 20,000. Which can be spent on e-commerce purchases.
You will get a bill twice a month, on every 15th day.
Non-Banking Credit Card
Slice is probably the best credit card for millennials and Generation Z users.
It’s a non-banking credit card. Meaning, Slice isn’t affiliated with an RBI-registered bank, such as ICICI, SBI and so on. Instead, they act as a lending part and digital partner for NBFCs.
Slice offers an instant-approved credit card for anyone and everyone. You don’t need to have an ITR or even a job. If you’re 18 and don’t have a default in your credit history, you can get the Slice Credit Card.
Invest In US Stocks
Vested is the best way to invest in US Stocks and ETFs from India. Vested has partnered with DriveWealth to allow Indians to directly purchase shares of companies listed on the New York Stock Exchange.
You don’t have to pay any commissions for using Vested. They also offer “Vests” which is a portfolio basket based on risk appetite and sectors. Each vest consists of several stocks and ETFs to reduce risk by diversifying your investment.
Vested also offers a low withdrawal fee and is completely safe.
Special Mention – INDmoney
INDmoney is another great app to start investing in US Stocks. With INDmoney you get access to a Super Saver Account to transfer funds into your US Brokerage account without any fees or outward remittance charges.
In association with SBM bank, INDmoney also provides best INR to USD exchange rate.
If you’re looking forward to investing in US ETFs, you will love their robust ETF research feature. It shows you the potential return on your investment for selected ETFs, their holdings, and comparisons with other ETFs under the same category.
You also earn rewards for investing in US stocks via INDMoney.
Market Research Tools
Tijori has probably the most extensive/comprehensive financial data about Indian and US-listed companies.
Anything you’d like to know about a certain stock, Tijori has the data to answer it. And it’s more about how they present this data, in a very intuitive, clean and easy-to-understand format.
Tijori Finance lets you conduct deep analysis on stocks, understand where a certain company is making most of its money, the benchmarks, visual graphs with detailed financial analysis, breakdown of the sectors, and more.
To get access to the level of data Tijori provides in a consolidated view, you will need to combine at least 7 different finance tools. Plus, it saves you the hassle of going through annual reports, technical analysis, market analysis, books, sector analysis, just to name a few, and allows you to make a wise decision on which stocks to buy or sell.
TickerTape is a stock analysis and screener that provides multiple tools to analyze a company as an investor.
You can analyze a company’s intrinsic value, financial records, check future price predictions, growth, shareholding pattern, events/news, compare different companies in a sector and more.
Plus, TickerTape comes with a stock health checklist.
You can also analyze ETFs and Mutual Funds using TickerTape. This is one tool you should be using as a beginner.
Special mention, Finlology Tracker might not provide future price predictions, but it’s still a great stock analysis tool.
One of the best features of Finology Ticker is its “Strength and Weakness” section. It shows you areas where a company is getting stronger and where it’s a shortcoming as well. This information is usually a little tricky to derive and consolidate for beginners.
If you want more info, you can subscribe to Finology ONE which gives you access to multiple reports and stock analysis conducted by a group of experts.
Other Helpful Fintech Tools
EnKash proves small businesses with an interest-free credit card for corporate use. It’s a B2B fintech platform.
Once you get an EnKash credit line, you can create multiple virtual and physical cards connected to your EnKash account and distribute them among your team. You can customize each card and control its usage as you see fit.
You can also use EnKash to accept payments for your business, automate cash flow management, and integrate it with popular accounting software.
Hop, or MoneyHop offers a multi-currency wallet/savings account. It allows you to accept payments from different countries, including the U.S., directly, without paying extra conversion fees.
Hop comes with a debit card, and zero balance savings account. Using Hop’s debit card, you can do forex transactions without paying any charges.
If you’ve used Payoneer’s global payment feature, consider Hop to be an alternative, but without any delay in receiving the money into your bank account.
Open.Money is a neobank built for businesses. To help businesses manage their expenses, taxes, accounting, cash flow, and multiple bank accounts in one place.
Open comes with a VISA debit card, payout management, payment collection and other e-commerce features that allow you to manage the financial side of your business without going through tons of excel sheets and confusing accounting software.
And, it does support an API so you can develop custom apps to connect with your Open account. Very few neobanks in India currently offer this feature.