Top 10 Best Finance Mobile Apps in India in 2022
With the advent of digitalization, individuals are more likely to keep records of their day-to-day activities on their mobile phones. Among the million things smartphones help us with, finance is an integral part.
Financing is an essential activity for a business and individuals. Financial management helps draw out a budget on where to spend, what amount to pay and when to spend. This allows us to quickly understand the financial status of an individual or an organization.
A business needs to take care of a vast amount of funds, daily cash flow, and continuous transactions. Thus, monitoring and managing finances should be of utmost importance.
When everything around us is involved with smartphones and made easy to operate, how can financing miss its part?
Finance apps help to manage our budgets easily with the touch of our smartphones. It helps to track down our spending, savings, and our investments effectively. The most important feature of the finance app is that they track the due bill payments and keep us up to date with the costs.
Managing money is never an easy thing to do. But, with the help of these finance apps, financial management has become one step closer to ease. It is convenient to manage our finances.
Here is the list of top 10 finance apps in the year 2022 that you can install on your phones to manage your finances skillfully.
Top 10 Best Finance Mobile Apps in India in 2022:
1. Mint:
Mint is one of the famous apps in the financial management industry. The application was founded in 2006 and later purchased by the company named Intuit in 2009. A tremendously high rating in Google Playstore of a count of 903,716 makes it one of the best finance apps in India applicable for iOS and Android users.
The app outshines the other apps in the same industry in terms of user experience. Moreover, the app can easily automate our budgeting process and thus take actions to save and set aside finances for the future.
The users have the advantage of syncing their bank accounts with the app to monitor their financial health easily. Apart from this, the monthly bills can also be monitored through Mint, and the best part about the app is that it provides reminders so that one does not miss out on undue payments.
The app provides users to customize categories based on their transactions and needs.
While security is an essential criterion in rating financial apps, Mint has succeeded in prioritizing the security of the users. The app is provided with the latest security measures, including two-factor authentication and strong encryption.
In addition, it provides users to control the mobile access from their accounts. In situations like loss or damage of smartphones, this feature may be beneficial to keep the account information safe.
The best part about this app is that it is free for everyone to use. You do not need to purchase a premium version to get access to all the app’s features.
However, the only drawback of Mint is that it is not an investing app. Moreover, since the app does not come in a premium version, the users have to go across intrusive ads.
2. SigFig:
SigFig wealth management app is another best budget app in the industry. The app offers automated investing with low management fees. SigFig, which was previously known as Winkinwest, is based in San Francisco. The app is built with a Robo advisory and customer engagement interface.
The application is available in the form of Web and a mobile app. SigFig outshines other competitors in the same market because of its low-cost management. The company charges a significant percentage of 0.25% on the investments.
In addition, SigFig provides free consultations with financial advisors.
However, the major drawback of the account is that it does not offer cash management. It requires a total of $2000 to open an account in SigFig.
SigFig does not work directly with the customers. It employs third parties as financial advisors or as Asset Managing Services. SigFig has partnered with three companies: Charles Schwab, Fidelity, and TD Ameritrade.
If one is new to finance apps and wants to go for investments, the app will open a managed account with its third-party brokerage, TD Ameritrade.
There is a significant amount of fee that is charged by the app for mutual funds, index funds, and ETFs which is considerably lower than the other apps account for 0.15%.
In addition, SigFig does not charge an extra amount on transfers, closing, trading, or any tax-loss harvesting.
3. Money View -Expense Manager App:
According to the latest reports, Moneyview is one of the best finance managing apps. It provides a simple user interface that allows users to track and manage their finances. In addition, it also helps the customers by providing affordable personal loads if in need.
The MoneyView app has received a massive rating of 4.5 on Google Playstore with 10 million downloads which is a huge achievement.
The app is loaded with Smart SMS Tracing Technology which helps the app easily track our expenses and categorize them based on our needs. It also helps the users to make a budget and help them to stick in the line so that they can stay on top of their future goals.
The application comes with the benefit of payment reminders which provides the users hassle-free bill payment without missing any deadlines.
Safety is integral, as said in any financial app with is ensured by MoneyView that provides pin-based protection.
Apart from that, most finance management apps need to be purchased, which is not the case with MoneyView. It is a free app with no hidden charges applicable.
4. Goodbudget- Budget and Finance App:
Goodbudget is a budget tracking app for modern times. The app essentially focuses on planning the user’s spending rather than just tracking the user’s spending.
The software aims at saving money by the envelope method, which has been considered as an effective way of handling our finances since olden times.
The customer makes envelopes of all the budgeting categories and sets money aside to spend on the expenditures without breaching the account balance.
The application has received 4.7 stars in-app store and play store. The app comes with the ability of an account to be accessed by multiple devices.
One of the shortcomings of the apps is that, unlike other budget apps, it is not a free app, and thus, the premium version must be purchased to unlock better features and get the most out of the app. Moreover, the bank information, including the credit and debit cards’ data has to be entered manually, which makes the usage a little tiring.
5. Realbyte Money Manager App:
Realbyte is a finance managing app based in South Korea. The app is available for both iOS and Android devices that helps to track and manage personal finances.
The app is loaded with various features including photo save options which help us to archive all the receipts of the transactions made, calendar visuals that help us to monitor the spendings, double-entry book-keeping, and asset graphs to provide a quick status of the financial health of the users.
The app is intended to simplify the management of finances. In addition, the app comes without any cost for the customers and consists of no hidden charges.
6. Monefy- Money ManagerApp:
Monefy is a personal finance management application for iOS and Android users. The application comes with a user-friendly interface that is aesthetically pleasing. Monefy is an excellent tool for beginners in the budget management field. The application is simplified with a tap.
There is no web application, but the records can be synced in dropbox. However, the feature is exclusive to pro users.
Safety is paramount to any finance management app, and Monefy ensures it by looking at all the sensitive information is entered manually by the users.
Thus, it checks that the app does not store any confidential information. One of the best features of the app is that the app is not restricted to a particular country or area. It can be used for any region. The users need to change their currency.
However, the app has its part of shortcomings. It does not operate on the web and can not be accessed through a computer. The app is not free. The customers have to pay an extra fee to unlock premium features such as no advertisements, syncing to dropbox, etc.
Apart from all the drawbacks, it is usually preferred by the users for its multi-currency tracks and simple usage. Moreover, the app is provided with an inbuilt calculator that simplifies crunching numbers in a single app and hassle-free management of budgets.
7. ET Markets:
The app can be helpful for you if you are looking for investing in financial markets. The app provides the users with the necessary data for making fundamental investments, still, it provides technical charts and graphs so that the user can easily predict the successive trends in the future. The application is primarily for stock market analyzing which is available for both Android and iOS users.
The application was developed by Times Internet Limited. The app covers all the essential parts in the finance field, from the stock markets to mutual funds and IPO, so that the user can get in-depth knowledge.
Moreover, the user is provided with important information such as the stock market trends and the currency exchange rates at the ease of their home. The app is also beneficial for personal finance management.
Investing is a critical task. It requires research. The application understands the necessity and provides the investors with the stock market trends. The app will also show the fundamentals of the company and the technical indicators to help the user make up their mind in investing.
The fact that the app comes with eight Indian languages proves that language should definitely not be a barrier, and you can quickly look for any information in the app with an intelligent voice search option.
8. Wallet: Money, Budget, Finance and Expense Tracker App
The wallet is a budget app that takes into account our finances. The app can easily track our finances from different financial accounts that are synced with it. The wallet was founded by Budgetbakers based in the Czech Republic.
The app is beneficial for users who make payments from multiple accounts. The app considers all the spending accounts so that we can review, learn and later customize the app based on our needs into categories. The app provides a statistical representation of the finances so that the user can easily understand the spendings.
The application has free as well as premium features. The premium version of the app provides some of the additional features, such as sending the updates of our finances to others. This is usually important when you are setting up a goal, or you are a couple managing your finances together.
Another exciting feature of the app is that it places the most used categories towards the top of the page. As a result, the overall calculation process becomes easier for the users. In addition, there is a game section in the app named “Was it worth it?” where the users can mark if the spending was yay or nay.
The wallet is one of the most attractive apps with the feature of associating our finances with emotional health.
The major shortcoming of the app is that linking the bank account is a premium feature. This means that the users have to spend a considerable amount in the long run.
9. Dhani App:
Dhani App is a finance management application that additionally provides loans ranging from a minimum of Rs 500 to Rs 15 lakhs. Apart from that, the app provides a multitude of options from managing finance to medical insurance and doctor consultation.
Moreover, the finance app provides offers of interesting cashback and rewards when the user makes a payment through the app.
The app was founded by Indiabulls and the attractive feature in the wealth management app is that the user can play games, and unlock features.
Through this app, financial management is easy and KYC verification is compulsory for security purposes. The app comes with exciting health plans at reasonable prices, and the users are open to earning money by referring the app to their friends.
10. Walnut- All Indian Banks Money Manager App:
Walnut app is an easy finance management tool that helps you monitor your income and spending wisely. The app will automatically categorize the expenditures based on the money spent, on which date, etc. The app is available for iOS as well as Android users. However, some additional features are only restricted to iOS users, like splitting the bill with friends, paying bills.
The good thing about the phone is the data security. The data is locally stored on the user’s phone, and thus, the user is safe from the accessing of data by any third party. Moreover, the tool is provided with a backup option. So, the data can be retrieved if the smartphones are lost or damaged.
Walnut ensures that messages from individual numbers are ignored. This, in turn, narrows down the possibility of a scam.
Walnut is not a free app. The premium versions are available, which have some additional features, but the basic version would work fine for people who are entirely new to finance.
Wrap Up:
These apps can efficiently meet your financial needs if you are looking for a wealth management tool. A detailed review has been provided so you can make up your mind on which app to install for your financial needs.
Finance is never an easy thing. You have to take time and research before deciding on your spendings or investments. You can try these apps to know which fits your requirements. But, pay more attention to the security of the apps.
The safety of any finance app depends on the security options provided by the company.
edited and proofread by nikita sharma
