Investment Apps vs. Traditional Investment Methods: Which is Right for You?

July 31, 2023

There was a time when you’d have to go to the post office to post a letter. E-mail helped change that!

There was a time when banking meant waiting in endless queues. Net and mobile banking helped change that!

There was a time when you could only see family photos in a bulky album. Instagram changed that!

It’s safe to say that apps have become synonymous with forces of change - but does this apply even when it comes to investment apps in India? Are investment apps in India game-changers?

Today, we wanted to touch upon some of the differences between traditional investment methods and investment apps to see if apps have been disruptive in this space too! As an added bonus, these parameters can help young investors identify what factors they need to consider before deciding which method of investing is better suited to their financial situation and growth.

We’ll do this one parameter at a time.

Accessibility and Convenience
Factor to Consider - TIME

Traditional Investing - Banks and financial institutions. Meetings and follow-up meetings. Potentially spending some time waiting. These are some of the things that go hand in hand with traditional investing in India. Not to mention the paperwork! Considering these realities of traditional investing, it is safe to say that the process can be time-consuming and can require delegated effort right from opening the account to actually investing.

Investment Apps - Investment apps in India, on the other hand, have reached the stage where users can easily start, manage, and track their investments through online portals. Investment apps offer traditional investing services right at your fingertips, allowing you to access your whole financial portfolio on the go! Digital apps are created with the aim of simplifying services, and as such, investment apps are more time-efficient for investors.

Factor to Consider - MONEY

Traditional Investing - Traditional investing can potentially require the services of a financial advisor or broker. This means added costs! And while these costs might not be very large, this point becomes particularly important for investors who are not investing large amounts of money, to begin with. It is also prudent to check about transactional costs that may be involved in traditional investment methods.

Investment Apps - Many of the popular investment apps in India (like Deciml!) are free of charge! Investors can also easily find app options that are brokerage-free. What's more, even the minimum amount required to invest can also be fairly low if you opt for an investment app such as Deciml. Deciml allows users to invest as little as ₹1! So the cost of investing can potentially be limited just to your investments with no additional fees at all when using an investment app.

Range of Options
Factor to Consider - CHOICE

Traditional Investing - Look, opting to invest through a financial institution doesn’t necessarily mean a dearth of options. But depending on the availability of your selected funds and products, and the offerings of the financial institution itself, investors might not find all available options, at all times, when investing through a financial institution. In fact, the options made available to you can also depend on the broker with whom you are corresponding - so, there are a number of variable factors!

Investment Apps - Mutual funds. Stocks. Exchange-Traded Funds. Digital gold. Fixed Deposits. And so many more options are readily available for users on most investment apps in India. Users can literally pick the funds which are aligning with their goals and timelines and quickly invest money whether through lump sums, SIPs, or even micro investing options (like Deciml’s Round-Ups and Daily Deposits!)

Factor to Consider - RESOURCES

Traditional Investing - Any financial institution would be happy to share as much information with investors as they can, including insights on market conditions, and recommendations on the best time to invest. Investors have access to experts who are trained to offer financial advice, and it is helpful to have the option to walk into an office and sit down face to face with someone who can clarify your doubts, and give you direction with respect to your investment journey.

Investment Apps - Today investment apps in India double down as informational archives! From equipping investors with current market insights to helping them learn more about the world of finance and investing, to sharing expert opinions and expertise - investment apps do it all! For instance, Wise Up is Deciml’s educational resource - touching upon all things investing, finance, and personal finance.

Important Disclaimer: Whichever method of investing you choose, a comprehensive understanding of one's financial standing and goals and doing personal research accordingly is essential.

Personalized Service
Factor to Consider - HELP

Traditional Investing - Through traditional investing methods, investors have access to finance brokers who offer personalized services and are readily available to help and guide investors. These individuals are trained to help investors and can provide customized recommendations based on the investor’s goals.

Investment Apps - Investment apps in India today do offer personalized recommendations to investors. Many of these apps chart the investment and growth trajectory of their users along with understanding their financial goals. So, they are able to review the data and make suggestions based on an investor’s capacity to invest.

It's important to note that both investment apps and traditional methods have their advantages and considerations.

Determining which one is right for you depends on the five main factors to consider - time, money, choice, resources, and help.

I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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