Kuvera App – Free but is it really good?

I think you want to invest in direct plans of mutual funds and save on commission and looking for a free app for same. By now you must be aware how even 1% difference in direct and regular plan can make a huge difference in your corpus especially for long term goals. Kuvera is free app for the same. Let us review and check is it really good and should you use it.

II tried multiple apps like moneyfront, paytm, etMoney, Grow and Kuvera. Before using direct plans, I was using NJ, ICICI Direct. Sometimes I also used each Mutual Fund house online portal and app and sometimes even direct paper work.

Having tried so many different ways of mutual fund investment, I have now finally settled with Kuvera. Why? Read on. Bur before we start with review, just one request.


So What is Kuvera?

In nutshell, Kuvera is a SEBI registered investment adviser. from Arevuk Advisory Services Pvt Ltd (tradename: Kuvera). They have tie up with almost all Mutual Fund houses which means you can invest in any mutual fund available in India from a single app.

They have both website version as well as app version and all the features are available in both app as well as website.


Is Kuvera Free?

Mostly yes. I am now using Kuvera Mutual Fund App for more than one and half year now. All the normal features of investment, SIP, reports, portfolio are free at least till now.

They do offer features like Tradesmart and Tax Harvesting with added fees but those are optional and you can live without them for normal usage. More on these later.

Kuvera also rewards investors. There are various reward actions like investing Rs 5000/-, creating goals, importing your portfolio, add SIPs etc. You can use these coins in exchange to activate paid features like say Tax Harvesting.

What is catch here? 1 coin seems to be equivalent to Rs. 1/- but we can not redeem it as cash. We can only use it to activate any of the paid features.


Important features in Kuvera Mutual Fund App

First and foremost, you can do all basic tasks of lumpsum investment, SIP (Systematic Investment Plan), redemption, STP (Systematic Transfer Plan), SWP (Systematic Withdrawal plan), adding bank accounts from this app. No cost or no indirect fees. All absolutely free.

But just basic investing in Mutual fund is small part. Let us see what other features Kuvera has that separates it from competition.

Some of Kuvera’s useful features are below. Click on feature that you are interested to know more details.

Loyalty Program
Kuvera Mutual Fund App gives you coins for most of financial steps you take. This they claim is their way to reward good investment habits. These coins you can redeem to activate their paid features.

One coin is similar to 1 rupee if you want to buy them but generally you can accumulate enough to exchange them for paid features. Say doing SIP gives you 25 coins, setting goal is 50 coins etc.

I got 2736 coins so far in around 18 months and spent around 600 on activating some paid features.

Tradesmart
This is the feature you will love most. Every time, you try to redeem or switch, Kuvera tells how much short term tax gain (STCG), long term capital gain (LTCG) and exit load will be applicable. So you are very clear about tax impact as well as exit load.

I think now they have maid it paid feature with 300 coins to activate same. I feel its really worth.

SaveSmart
This is for people who want to switch their money to Liquid Funds from Saving account. You can invest in liquid funds of multiple fund houses and earn better returns than saving account.

Its a normal liquid fund investment packaged in new name. But yeah, you can get upto 2L back in your account in 30 mins.

I suggest you read my article on Liquid Fund Vs Saving Account to understand if liquid fund helps. I have also added a Calculator to see actual benefit in this decision. So do check if there is any significant benefit in investing in liquid fund. If yes, then app like Kuvera are ideal for such investments. It will save you some commission without much research.

Goal based investment
You can setup goals (say child higher education) with details like expected amount for goal as of today and years to achieve goal. Kuvera applies inflation and comes up with future value. It also suggest a plan for achieving that goal with funds of its choice.

You can also tag existing investments to goals defined. Each fund you can assign to one or multiple goals (with overall allocation of 100%). Initially I got excited with the feature but soon realized its not a practical to do so.
Our goals do not entirely depend on Mutual Fund investments. Say Retirement goal, one needs to consider EPF, PPF etc as well and Kuvera does not have that data. So in reality, it will not help much.

Also choice of recommended funds for goals were not appropriate. e.g. for my daughter’s higher education goal which was just 2 years away, I got recommendation with significant equity portion. With goal with so less time frame, it did not sound right choice to me.

You get 50 coins per goal by the way.

Family account
As name suggests, this allows me to manage funds of my entire family with single login. Excellent feature as it offers single place for investing for entire family.
It costs 200 coins but you get lot of convenience in return.

I personally use it and definitely recommend it. You can keep everyone’s investment separate and still manage all from single login.

Managed account
This is similar feature. Good for Fee based Financial Advisors. Many retail investors wish to move towards direct plans but not all are tech savvy. They also need some advisor. This could be very good feature for such people where advisor can manage your account (if you trust & wish so).

ITR filing and buying term plan feature
Don’t think they really need to try to do everything. They should stick to mutual fund and focus more on same. Useless feature.

Tax Harvesting
So what is Tax Harvesting. Currently Long Term Capital Gains (LTCG) are taxed at 10% above gain of 1L in a year. So idea here is to sell some units of mutual funds (and then buy again) so that LTCG is just around 1 Lac every year.

This way you can save 10,000 per year in LTCG. If you don’t sell it every year then at time of sell say 5 years down the line, you may need to pay LTCG on say 5L. But doing this all calculation manually every year is practically impossible.

If you enable this Tax Harvesting on Kuvera, it will help you identify it own its own. Its a paid feature with around Rs 499/ per year or 499 coins. But I think if it saves you 10,000, why not? I activated same from my coin balance.

Kuver Gold
Newly introduced feature in Kuvera Mutual Fund App is to let us buy 24K 99.9% pure gold online in denominations as low as Rs 100. It is digital form of Gold.

I do believe in gold as part of asset allocation. But so far, I have trust in Gold ETFs, Mutual Fund and Gold Sovereign Bonds.

So I can not recommend you what I have not tried. If you use Kuvera Gold, do share your experience so other readers can benefit.

Multiple bank accounts
This is useful feature if your money is spread across different account. You can link multiple accounts and can invest in any one of them.

Stocks import
Kuvera Mutual Fund App does not support purchasing stocks as that needs demat account but it allows you to link directly to bunch of online platforms that you use for stock investments.

This helps you see your stocks also part of assets in Kuvera app itself. Good step towards making Kuvera as portfolio monitoring tool. Get 25 coins.

Physical Gold
There is hardly any family in India who does not have gold jewelry. Here you can add details of same so have better view of your overall assets. You also get rewarded with 25 coins.

STP on weekly basis
This is first app where I have seen this. Systematic Transfer Plan even every week. In Corona crisis, I had switched some of my funds to Liquid Funds and wanted to slowly move to Equity Fund. Weekly STP helped me spread the investment very easily.

EPF Import
Employee Provident Fund is significant portion of our overall asset or portfolio. Kuvera gives you option to connect to EPFO and automatically updates balance so you can see it Kuvera Portfolio.
This should be useful for salaried people. Plus you get 25 coins as reward.

Easy Loan against your Mutual Funds
In corona crisis, many people had to sell their mutual fund to get money. Kuvera has feature to get loan of around 80% of your investment so you don’t need to sell your investments at low value.

Since I did not use it, I am not fully qualified to write details. If any of you try it ever, do let me know in comments about your experience. All I could see is rate is less than personal loan rate (as it is secured against your investments).

Also you pay for what you use so looks like some sort of overdraft facility. Entire process looked online and it claims you get money in 2 days which is more or less same as when you get your money if you redeem it.

I hope none of you need to go for it but feature is available.



After regular use, I feel I can give them **** (4 star) for all the features like Tradesmart, Savesmart, weekly SIP, family account and managed account.


Registration / Sign up with Kuvera Mutual Fund Platform

As with any app, first step was to sign up with Kuvera Mutual Fund platform. Website or mobile app, process is same.

Since all my mutual fund folios are linked with my gmail id, I used sign up with Google option. I suggest you also follow same for convenient sign up. 

You will need to carry out below steps:

  • Verify KYC – PAN, DOB, Mobile details
  • Update address
  • Provide soft signature on screen
  • Your investment profile
  • Bank Account details
  • Nominee

Overall it took less than 10 minutes and process was smooth and without any hiccups. I do not want to bore you will details.

If you are still interested, details are here.

Registration with Kuvera Mutual Fund Platform
Sign Up to Kuvera

Once sign up is successful with Kuvera platform, you will be landed on default dashboard page suggesting to complete registration. Naturally portfolio will be empty in beginning.

Default Dashboard on Kuvera Mutual Fund Platform

You should click on button to complete registration.

a) Verify KYC

This is basically validation of PAN, Date of Birth, mobile number with CAMS.

KYC on Kuvera Mutual Fund Platform

b) Update communication details

Providing address, City, State, Country etc.

Update Communication Details in Kuvera Mutual Fund Platform

c) Soft signature

On mobile app, its straight forward use of index finger to sign on screen.

Soft Signature for CAMS needed by Kuvera Mutual Fund Platform

d) Providing brief details about profile

Providing details about marital status, children, income (you can skip) etc was next step. I think they use it for assessment of investment profile of user and recommendations .

Update family details on Kuvera Mutual Fund Platform

e) Provided bank account details

Provide bank account details which would be used to transact via Kuvera. I realized that this need not be same account which is provided to Mutual fund houses.

Bank Account Details for investment needed for Kuvera Mutual Fund Platform

f) Nominee

Last but not the least, provide nominee details. Could provide only one nominee (if that limitation matters to you). For me that was not the issue as my better half was nominee for entire investment.

This does not change your existing nominations but will be useful for subsequent investments done with Kuvera Mutual Fund Platform

Add Nominee to your investments in Kuvera Mutual Fund Platform

After registration, I started using Kuvera Mutual Fund mobile app. No need to remember password. It allows you to set a pin for Kuvera login and its very convenient.

Dashboard of Kuvera Mutual Fund Website

Overall registration process was smooth and in line with other competitors. What I liked is flow of overall steps. It went in a logical sequence. So if you ask my rating for overall registration process its ***** 5 stars.

Let’s move on to next step…Portfolio


Importing your portfolio in Kuvera Platform

If you already have mutual fund investments, first thing for you is to get all existing investments imported in Kuvera Mutual Fund app. Just two steps – 1) request the consolidated statement as per their instructions and 2) email them or upload it in app. Done!

Want to know more?

Its was quick and easy. Less than an hour to complete overall process and I could see my dashboard with summary of all existing investments. Great.

Now the real fun started on dashboard. I liked the summary. It has 4 basic things…

  • Current Value of investment
  • 1 day gains
  • Current gain (overall) and
  • Portfolio returns (XIRR).

Except 1 day gains, rest are really important for any mutual fund investor but there are lot of people I know who check their fund gains every day so Kuvera Mutual Fund platform seem to have addressed that segment as well.

XIRR is our real returns from Mutual Funds. So important to know. Good that we get to see it at portfolio level as well as each fund level.

Here too I will give ***** (5 star) to the import process but I would have given same to other apps as well. Basically Kuvera is on par with its competitors.


Portfolio representation in Kuvera Mutual Fund App

Every app has different way of representing your portfolio. In Kuvera app, there are three things – Portfolio Details, Overview and Compare. Lets see each of them.

a) Portfolio Details

This is basic view of portfolio. Listing of all schemes with features of sorting on different parameters. Option to click and invest/redeem/switch etc. It shows investment amount, returns, current value against each scheme so you know actually how much your are gaining or losing against each scheme.

At first glance it looked okay to me but when I started using mobile app, I realized the pain. Portfolio page is not really that mobile friendly. The links to edit, attach goal etc are too close and you accidentally end up clicking option that you really intend to. Also icons shown against each scheme are not really that intuitive.

I am not really impressed on this representation. I felt this area is something which is let down for Kuvera. But if you are laptop user then it will not be an issue but think about it, how many people really use laptop on regular basis. They should have made this view more mobile friendly is what I felt. Update 12/08/2020 – They have listened and I feel view is better spaced now.

Default view of Portfolio Details on Kuvera Mutual Fund Website

b) Overview

This is section of all beautiful graphs and analytics. If you have used paytm money, you would have seen a chart animation based on your investment growth. Well yes, this part is something similar to that but more simple.

Kuvera has chosen a safe path. That means no animation. To be honest, I liked the simplicity. I, as a user, ultimately need value. Animation etc. looks great at first glance but doesn’t add value if you use app regularly.

First part gives basic details like how many funds I had, Equity mutual fund distribution of your money across different types like large cap, mid cap, hybrid etc. This is useful insight for any investor to know how money is spread across types.

Overview of Equity Funds on Kuvera

Next part was on Debt. Here it gives split of debt oriented funds.

Overview of Debt funds

Next section gives details on same type of funds. Say if you have invested in multiple “hybrid funds” or multiple “large cap” funds, this section will give you that view and you can think to consolidate or otherwise.

It also gives you XIRR of equity, debt and overall portfolio. Also let’s you know your expense ratio on a consolidated basis.

Now I am analyzing why my debt expense ratio is so high compared to my equity funds. Trying to find, who is culprit eating up my money. So good information to have.

Kuvera Mutual Fund Platform tells duplicate funds in same category

Last part is overall company and industry distribution of our money. Top 10 stocks and top 5 industry in the portfolio.

It gives you some knowledge as where your money is concentrated. e.g. my 27 plus % is already in Banks. If you invest in sector funds, this insight will help you know how are you currently positioned.

Top Stocks and Industry view across your mutual fund portfolio

c) Compare

This section is something I did not see with other competitors much. Here it shows comparison of your investment vs similar Kuvera users (in same age group).

I am not sure how much it adds value from investment decision but its of some psychological help to know how you are placed vis a vis others in same age group.

It gives comparison numbers and one liner comment on % of money in regular funds, number of goals (more to come later), number of funds, equity allocation comparison with peers, equity-debt-overall XIRR comparison with peers.

In most areas it gave me sense of pleasure to know I am doing better than peers but not real value as such.

Compares your portfolio with peers of same age group

Overall I am happy with the different views that Kuvera portfolio provides and insights are quiet useful. I would rate it overall ***** (4 star). One star less for portfolio details not mobile friendly. Hope they are reading and will address same.


Reports in Kuvera App

Again Kuvera hits the nail on head. What report would retail investor need ? Transaction history, Capital gains (short and long term) and ELSS investment proof. All three are available.

Reports available on Kuvera

Good point is that Kuvera provides financial year wise reports for capital gain for last three financial years (even if you join now).

It has a very simple interface. Not many search / filter criteria but reports have details that add value. Worth signing up just to get these reports if you do not have a CA for tax calculation.

I rate **** (4 star) for reports.


Transaction Management

Kuvera offers all the transaction types to perform. You can select your fund and invest more / start SIP/ STP/ SWP or you can go for all together new fund. In case you already have a folio in that fund house, it will list all of them to choose from, give option to select new or set particular folio as default.

It also has shopping cart type experience. In case you want to invest in more than one fund at a time, you can keep adding details and proceed to pay when choices are complete. Payment is possible via netbanking or NEFT or UPI.

I tried SIP and STP via Kuvera. Both work as a charm. Especially very happy for STP being able to do on weekly basis. I did not see such small duration in other apps.


Mutual Fund Selection

As you can see from below screen, one can choose from their top rated, our own choice, ELSS, funds with insurance, liquid funds which offer faster redemption or new funds. So overall most of the funds are available.

Doing investment with Kuvera

Starting SIP / SWP / STP is as straight forward as lump sum. You can quickly edit all of them like changing amount, stopping etc.

One caution though, you need to do edit around a week before SIP/SWP/STP date. When Corona crisis came, one of my client wanted to stop the SIP but he could not do so as next SIP was due in 2 days.

Kuvera? Are you reading? Please fix this. We are living in world of instant gratification. A week is too long.


Overall no complaints or lack of features for transaction management. So rating **** (4 star)


Is Kuvera Mutual Fund App Safe?

Hmm. I not authority to guarantee that. But what is good for you to know is money that we invest does not go to bank Kuvera account at all. Same with redemption. Money transaction happens between Fund house and investor. When I invest, money goes to Fund House and when I redeem, money directly comes to my bank account.

No Kuvera intermediate account. That gave me sense of comfort. If god forbid, something happens to Kuvera, my entire investment is with fund house. I can use any other app or directly redeem from fund house.


Customer Support of Kuvera Mutual Fund App

We are dealing with money here. So good customer support is a must. I had instance where one of my investment in L&T Hybrid fund got reversed. I had to work with L&T support and Kuvera support to get it sorted.

Experience was good. On next day of filing query, Kuvera responded with “Looking into” type mail and started investigation. If I remove delay from my side in providing bank statement etc, query was addressed in 3 days with few email exchanges.

They went to the extent of triggering my fund statement from L&T Mutual Fund and providing me with details. So it was good experience. I would give ****( 4 star).

Reason for one star less is that since its money matter, I would have been more happy if someone would have called me to understand issue and giving me assurance instead of just to and fro in mails.

Not all people are techy to always deal in emails. Human voice helps to calm people.


Things Kuvera Mutual Fund App should improve on

  • App Login time – At times it takes some time (5-7 seconds) to login into app and dashboard coming up. Some work here will give better user experience.
  • Goal Based recommendation is poor to say least about it. I could not find any logic of funds suggested to my goals.
  • They should avoid non investment features like filing IT returns.

Conclusion

Overall I would rate Kuvera platform as 4 star portal / app. Signing up is smooth. Portfolio import is simple. Transacting is straight forward.

Overview of investments gives good insight. Simple and useful reports are there.

You can manage folios (hide that are not in use etc). There are small small features which overall make it a very good portal / app.

I have used multiple platforms before settling down with Kuvera. Currently it is the best free direct mutual fund platforms available in India according to me. But do let me know which app you use and if it is better than this.

Is there a catch then? In one and half years, I have not seen any pattern to extract some money or fees indirectly. I don’t know their revenue model and how they make money. May be things like loan against mutual funds or Kuvera Gold has some commission for them. But why do I care as long as I am getting good experience free of cost.

Personally I am using it as my primary app for all Mutual Fund investments. So if you ask my personal opinion, its A BIG YES from me. Of course, you should do your own research and then decide.

That’s all on Kuvera app.

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