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INDMoney (INDwealth) App – First impression and mini review

Super Money App. That is what this wants to be for Indian investors. Let us do a quick and short review of INDmoney or INDwealth app and see does it hold promise. I will do more detailed review after using for few months. So treat this as a trailer. Picture abhi baaki hai mere dost…

Couple of weeks back, my friend referred this app in our whatsapp group chat. He felt it is very interesting app and we should try it out. He was very excited about some features of INDwealth app was offering. That’s how I got interested.

I downloaded app from Play Store and started trying it out. Two weeks is too short period to review any financial product, so wait for some time for full review.

Currently I am sticking to Kuvera for my primary Mutual Fund investment platform. Thought of sharing my first impression of INDwealth in this article.

What is INDWealth all about

It is one single App for all personal finance needs. Be it investments (Mutual Funds, Stocks, PMS, US stocks) or Loan or Credit Card or even expenses and taxes. Everything under one umbrella.

Concept is really good. No doubt. They want to make it a #SuperMoneyApp. Let us see if it lives up to it.

History of INDwealth

Personal Finance is just next to personal health. So we should care to check who is behind any application or scheme that we share our details with.

So who is INDwealth brain child of. Company behind this application is Finzoom Investments. It’s founder is Mr. Ashish Kashyap.

For those who need his introduction, he is Founder & X-CEO of ibibo (Goibibo & redBus), India’s leading online travel group. He also served as country head of Google India in past. So strong credentials.

App was launched in Mid 2019. So still in young stage. Not sure why they have two brands INDmoney and INDwealth. If you know the difference, do let me know in comments.

Fees for INDwealth

You can use INDwealth free. Later you can get yourself upgraded to paid version called as IND Gold. I am yet to upgrade to paid version so you will need to wait more if you wish to know about it.

They do not have one fee model for all though. Fees depends on your AUM. So based on total of stocks, PMS, Mutual Funds, AIFs, they would let you know fees.

For me they are showing Rs 999/ month plus GST. I felt its bit on higher side.

Paid service has dedicated team of research analyst, tax consultant, customized investment proposals, advance tax fillings and recommendations, risk monitoring of your portfolio, monthly audit etc.

Overall package seems to be good but since I am yet to try it out, cant comment. Harsh from shoutmetech has tried and seemed to be overall satisfied.

I do plan to upgrade at least to see the experience and update review. For now, let us continue with what is free.

Portfolio Features of INDMoney

Let us see what we can do with this app just as Portfolio Tracking App

  • One of the best Portfolio Tracker – Even if you are using other apps for various investment activities, I would suggest try this out at least to track portfolio. It is rare to have app that has all financial products tracked under one place. Be it stock, pms, mutual fund, bonds, bank deposits, you can have it here.
  • Credit card Tracking – You can see all your credit cards automatically visible in app with outstanding dues. Very useful if you are person with multiple cards. You really don’t need to manually add any, it fetches details from CIBIL based on PAN number.
  • Loan Tracking – You can track your outstanding loans as well. Again no need to manually add. Of course you can also any other loan manually.
  • Mutual Fund Tracking – Based on consolidated statement from CAMS or KARVY, it can quickly import portfolio and track it for you.
  • Stocks & Bonds in demat format – It allows you to connect to your stock broker and you can import it in your portfolio automatically. No manual data entry needed. Even US stocks can be tracked but you need to open a different account for same.
  • EPF – You can use your UAN number to connect to EPF and track your EPF balance here.
  • PMS – Now this is what I have not seen in other applications. INDwealth allows you to connect and track PMS as well
  • NPS – Again this was something unique, INDwealth is able to automatically track NPS balance from your gmail account (if you grant that access). So no need of manual entry.
  • Fixed deposits, Corporate deposits, PPF, real estate, AIFs can also be tracked but by manually entering information.
  • If you allow read access to your SMS, it can start tracking your online expenses as well – I have not enabled it for some security concerns.
  • Only option I did not find here was Gold. If you have physical gold investment, then you may need to add amount under some other section.
  • Unfortunately, I will not be able to share screenshot of my dashboard as lot of sensitive information there but believe me, it is one of very detailed dashboard I have seen. Even better than Kuvera app that I use as my primary app for mutual fund investment.

If you drill down portfolio, you can get some interesting insights about your investments. I will try to cover them in full review but just to give a trailer, lets see few

Product Distribution

Quick and simple view of how your money is invested across various instruments

Asset Quality

You could see how your debt allocation is from credit quality perspective

Portfolio performance against inflation

This is useful to show you reality. Is your investment style able to beat inflation or your are just about managing along. Good insight which will help you decide on your asset allocation.

You could see my XIRR last five year not great in last 5 years in absolute term but if you compare with inflation, it is not that bad.

Stocks in your portfolio

We invest across multiple mutual funds and many of the funds have some common stock but in different proportion. So its an interesting view to know your exposure across various mutual funds.

This is useful for deciding in investing in new fund especially when you are tempted to invest in a sectorial fund say Pharma fund or IT fund which are doing good currently. If you know what is your current exposure, then that can help you decide better.

There are many more insights but will cover them in full review later.

What else you get Free with INDwealth

Some of the features I found useful are listed below

Investing in direct plans of mutual funds

Once you are done with setup, you should be able to invest in direct plans of Mutual Funds from this application. I think other apps like Kuvera and Groww also allow you same. You can click on links and read my reviews.

Periodic review and recommendations

What I found little different is analyzing my investments and suggesting better schemes. They seem to have some robo advisory software underneath.

It periodically keeps suggesting which fund should be switched to which other fund and how much I would benefit in long run.

Its too early for me to say if that is correct recommendation or otherwise but you do have some feature which periodically assesses portfolio automatically.

Corporate FD – Investing made easy

For people who invest in corporate FD, all hassle of paper work is gone. One can invest in click of button in top corporate FDs running offers at that time.

It will show credit rating, interest rates etc and one can invest easily without any middle man. I could see Bajaj Finance, HDFC, Mahindra Finance, LIC. ICICI, PNB FDs. So wide range.

It has filter to select monthly, quarterly, annually payout FDs to choose as per individual needs.

Investing in Bonds

Gold bonds, RBI bonds, corporate bonds or even from banks or Public sectors. You name it and you will have it here.


This is interesting area. First time I could see multiple PMS schemes, their characteristics, returns etc at one place.

You can go through details and if you like one, you can click on Apply button for particular PMS. Someone from INDwelath will get in touch with you for next steps.

I clicked button accidently just for this review. 🙂 Let us see what unfolds.

Investing in US Stocks

It lets you open account quickly and online with Drivewealth if you wish to buy US stocks directly from India. I invest via International Mutual Fund so was not interested.

But if you want to buy Google, Apple or Facebook, you can do it here.

Market Valuation and recommendation

It provides analysis of various popular indices like BSE Sensex, Nifty 50, Next 50 so and so forth. At high level, it opines if valuation is cheap, expensive or fair. It will also provide its recommendations.

It also gives insights like FII, DII inflows / outflows into index stocks

Within indices, it divides stocks in bullish, neutral and bearish groups and you can drill down further to individual stocks for analysis.

You also get regular sector , macro economics, stock recommendations, IPO analysis etc. If you directly invest in stocks, you could get useful insights for your research and analysis.

As with any other direct mutual fund investment app, INDwealth also has its recommended mutual funds. But unless you are going for paid service, I would suggest to sticking to your personal financial advisor.

Similar to Groww, you can compare 2 funds here as well.


INDwealth gives you few reports some of them are

  • Holding report – Excel report for all your holding. Could be handy if you wish to print and file things for later reference
  • Performance report – providing performance details of portfolio
  • Capital Gain & Loss report – Very useful report that gives mutual fund scheme wise transaction details in current year plus calculation of STCG and LTCG. It is excellent report that you can share with your CA for tax filing. I would say not for anything else but at least for this report, you should register in this app.


Overall my first impression of this app is good. It does hold lot of promise. I will keep using it for next few months, do few investments, check how customer service is before I recommend it as main app for managing personal finance.

However at this stage I have no hesitation in recommending this to use for Portfolio Tracker. With all assets and liabilities in one place, it will give you a good view.

So do give it a try and share your experience. Cheers

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