Our smartphones as we speak are the sum of our existence on Earth, and one of the essential items of knowledge they carry as we speak is our monetary information. From apps that allow you to entry banking companies and pay in your buying, to ones that allow you to observe bills and make investments, we’re dwelling within the golden age of accessibility.
As a part of our ongoing year-ender sequence, we’ve rounded up a few of the finest fintech apps that present companies to Indians as we speak. We’ve excluded the likes of Paytm and PhonePe as a result of they’re already broadly utilized by hundreds of thousands and details about them is available. The apps we deliver to you as we speak are ones which are considerably area of interest, gaining regular traction and provide distinctive monetary companies.
Have a look.
Zerodha is to on-line stockbroking in India what Flipkart was to ecommerce. A pioneer in on-line investing in India, Zerodha’s Kite – its flagship buying and selling and funding platform – permits Robinhood merchants to purchase, promote, analyse, and handle their portfolio with only a few clicks. It additionally permits them to spend money on IPOs after linking UPI IDs with demat accounts.
Customers can reap the benefits of the app’s charting instruments, information widgets, real-time alerts, push notifications, nudges, and marketwatch to trace their portfolios, in addition to discover extra investing alternatives.
Customers must pay Rs 200 for opening a BSE/NSE investing demat account, and Rs 100 for the commodity exchange.
The app has crossed a million downloads on Google Play Retailer, and is likely one of the high 5 apps within the ‘finance’ class. It’s rated 4.1 out of 5.
Groww is a stock buying and selling app that permits customers to open a Demat account and purchase/promote stocks on the Bombay and Nationwide Stock Exchanges. Opening a buying and selling account on the app is free. Customers are charged Rs 20 or 0.05 % of the order value, whichever is decrease, for orders positioned.
It additionally permits investments in mutual funds and digital gold – a very fashionable function that turned an immediate hit with individuals in the course of the current festive season after they couldn’t step out to purchase gold.
The app was developed in Bengaluru by 4 ex-Flipkart executives. It has been downloaded over 5 million instances on the Google Play Retailer and has a 4.5 stars ranking. Accessible on Apple’s App Retailer as properly, the app has a complete of eight million customers as per its estimates.
The UI/UX is straightforward, clear and intuitive. The app does require KYC verification and e-signing of paperwork – which, if one doesn’t have, mandates a bodily signed copy of the shape to be couriered to the corporate.
Launched by Hena Mehta, a graduate of The Wharton College, Foundation goals to make girls in Tier I and Tier II Indian cities extra financially savvy. It additionally permits working girls to community with and be taught from one another, particularly relating to money-related issues.
The 2 tenets the app is predicated on are studying and investing. It provides bite-sized studying classes that customers can entry as per their comfort. The platform additionally conducts common workshops and webinars that cowl a myriad of economic matters.
On the investing aspect, the app has tied up with some mutual fund firms that supply their companies on the platform. Customers can customise their investments based mostly on buying or monetary targets, corresponding to shopping for a automobile or saving up for retirement.
Entry to the neighborhood that Foundation has constructed is the most effective factor in regards to the app. Ladies can publish questions (and the app emphasises that no questions are silly), reply to different’s messages, in addition to get professional inputs in some instances. The Foundation group usually publishes fascinating blogs that vary from matters corresponding to revenue tax to gold investing – something that has caught the broader inhabitants’s consideration – and makes it extra women-focussed.
The app has 10,000+ installs on the Google Play Retailer, and can also be accessible on Apple’s App Retailer. The UI/UX is clear and vibrant, and signing up is a breeze.
A homegrown app that helps people file their revenue tax returns, myITreturn was one of many 24 winners of the Indian authorities’s Aatmanirbhar Bharat App Innovation Problem within the Others class.
The app goals to simplify the method of submitting IT returns, which may usually get complicated for the not-so-financially savvy.
Almost 95 % of IT filings on the platform undergo an clever, automated course of – solely 5 % of the filings require some kind of guide intervention.
At current, the app has greater than 5 lakh downloads with a retention price of 80 %. Moreover, it’s accessible in 9 Indian languages in addition to English, which permits it to have a wider attain.
The app expenses between Rs 400 to Rs 800 for submitting IT returns. It additionally helps customers observe their refunds and assists in resolving IT notices.
An app for teenagers and youths who obtain pocket cash digitally, Pencilton was developed by 4 associates and graduates of BITS-Pilani.
The app is geared toward serving to children and youths be taught to save cash, in addition to observe their bills. Options corresponding to goal-setting enable customers to avoid wasting up cash for big-ticket purchases corresponding to headphones, video video games, holidays and so on.
The mother and father’ model of the app permits them to trace their baby’s bills and financial savings, set spending limits on their accounts, in addition to prohibit transactions. It additionally permits mother and father to set out duties for his or her kids, which, upon completion, auto-transfers a set quantity to the latter’s bank account.
The app just lately tied up with RBL Bank to situation debit playing cards to kids. The playing cards don’t enable cash withdrawals or spending on alcohol, and bills made on the cardboard present up within the app for each mother and father and the youngsters.
Pencilton has over 5,000 installs on the Google Play Retailer, with a 4.three out of 5 ranking.