Kuvera Review – Is it best free Mutual Fund App in India?

So you want to know about Kuvera Mutual Fund App. 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.

If you are using regular plans and wish to switch to direct plan, you must be wondering which app to use. I tried multiple apps like moneyfront, paytm, Grow and Kuvera. Before using direct plans, I was using NJ, ICICI Direct, sometimes directly with each Mutual Fund house and sometimes even direct paper work.

Having tried so many different ways of investment, I have now finally settled with Kuvera. Main reasons being Simplicity of use and very good customer support.

This is my personal review of how good or bad Kuvera app for Mutual Fund investments. I have also given step by step guide to get started on Kuvera app. If you like the article, please help blog by sharing with people you might feel use the app.

Also let me know your experience with Kuvera as well as any other platform that you use in comments. This will help readers get better insight on options they have.

What is Kuvera?

It is a SEBI registered investment adviser. from Arevuk Advisory Services Pvt Ltd (tradename: Kuvera) is a SEBI Registered Investment Advisor (INA200005166).

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 features are available in both places.

Is Kuvera Free?

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 basic usage.

It also rewards us investors. It gives one coin as reward per Rs 5000/- invested. You can see in below sections that there are even other activities which will reward you back with 25 / 50 or 100 coins.

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

Basic investing in Mutual fund is one part but what other features any app or platform offers differentiate it from rest.

Offering features for a free platform is challenge. On one hand, they do not earn any commission from Mutual Fund Houses and neither fees from us retail users.

Kuvera has lot of good and practical features. Some of them are mentioned below.

  1. 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 I never needed to buy because most of small steps reward you with some coins.

    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.
  2. Tradesmart – This is the feature I love the most. Every time, I try to redeem or switch it tells how much will be short term tax gain (STCG), long term capital gain (LTCG) and exit load.

    So you are very clear about tax impact as well as exit load when you take any decision. You can then reduce, increase amount and check what is it that your are okay with and take decision accordingly.

    I think now they have maid it paid feature with concept of 300 points to activate same. I feel its really worth.
  3. 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.

    I think its a normal investment in mutual fund but packaged with new name. Ultimately you are investing in a mutual fund. One difference is 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 value add by visiting above resource and then you can start using this feature.

    Platform like Kuvera are ideal for these investments as these will save you some commission without much research.
  4. Goal based investment – You can setup goals like child higher education, expected amount for goal as of today and period to achieve goal. Kuvera applies inflation and comes up with future value. It 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 choice. Our goals does not entirely based 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, I am better off planning goal myself looking at overall picture.

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

    I would suggest not to take recommended funds seriously. However you can set goals and tag your choice of mutual funds to them to know where you stand in achieving same. Also get 50 coins per goal.
  5. Family account – As name suggests, this allows me to manage funds of my wife with single login. Sounds exciting feature as it offers single stop for entire family.

    I use it for investing for all my family members. It helps doing everything at one place. If you have one member in family who managing all the investments, he or she would love it. It costs 200 coins but add lot of ease in doing things in single login.
  6. Managed account – This is really good feature according to me for Fee based Financial Advisors. All people wish to move towards direct plans but not all are tech savvy as well as good in choosing funds. They need someone to manage their portfolio. This could be very good feature for such people.
  7. Recently it added paid feature 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.
  8. 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 mutual funds (and then buy again) which can give only upto 1L LTCG 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.
  9. 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 stuck to Gold Mutual Fund and Gold Sovereign Bonds.

    So I can not recommend you what I have not tried. If you use Kuvera Gold, do comment with your experience so readers can benefit.
  10. Support for 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.
  11. 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.
  12. 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.
  13. STP on weekly basis – This is first app where I have seen this. Systematic Transfer Plan even as low as weekly basis. 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 movement very easily.
  14. 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. You get 25 coins.
  15. 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 since feature is available, just wanted to let you know.

    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. So you should go to their website https://kuvera.in/signup. This is my referral url. Please use it and get 100 coins rewarded when you complete sign up.

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 in case you choose to go for this platform. 

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. Overall it took less than 10 minutes and process was smooth and without any hiccups. You need to carry out high level below steps:

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

Not sure why, but Kuvera Mutual Fund platform needs soft copy of our signature. I used laptop screen (have one with touchscreen) and finger but I guess even mouse would work. 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

Needed to 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 but as good practice of tracking investment, it is good idea to use single account for doing all investments. This helps me in easier reconciliation later.

Bank Account Details for investment needed for Kuvera Mutual Fund Platform

f) Nominee

Last but not the least, provided my 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 portfolio.

This will 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. You can download same via play store or app store based on your mobile. Good thing is that no need of password. It allows you to set a pin for 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 was to get all that imported in Kuvera Mutual Fund platform. How simple or difficult is it. Read on…

Now I would like to give full (really big) credit to CAMS, KARVY, FTMAI and SBFS to come together and offer feature of consolidated mutual fund statement.

This is great way of checking your mutual fund investments at one place. All platforms nowadys use this to import your portfolio with their system. Kuvera Mutual Fund did not try anything different (I guess they did not have option as well).

So you have to request the consolidated statement as per their instructions and email them or upload it to get portfolio imported. Its was quick and easy for me…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. I liked the summary. It was giving 4 basic things…

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

Except 1 day gains, rest were really important for any mutual fund investor like me 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 critical to know quickly. Good that we get to see it at portfolio level as well as each fund level. Overall process of importing your existing investment is same as any other competitor.

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

Portfolio representation in Kuvera Mutual Fund App

Every application has different way of representing your portfolio. Lets see what path Kuvera Mutual Fund App chose. There are three links on dashboard viz Portfolio Details, Overview and Compare. Lets see each of them. Together they should give me all that I need from my portfolio view.

a) Portfolio Details

This is basic view of portfolio. Listing of all schemes with features of sorting on different columns. Option to click and invest/redeem/switch etc. It shows investment, returns, 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 climbing based on your investment growth. Well yes, this part is something similar to that.

Kuvera has chosen a safe path. That means no dynamic graphs growing or drawing at real time nor any animation. To be honest, I liked the simplicity. I, as a user, ultimately need value. Animation etc. looks great at first glance but overall its about my money and I am happy if it gives me financial insight that I need.

First part gives basic details like how many funds I had, Equity mutual fund distribution of my 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 part is the BEST PART. It gives details on same type of funds. Say if you have invested in multiple hybrid funds or large cap funds, this section will give you that view and you can choose to consolidate or otherwise.

Here it gives if investment is in same type fund more than 2 times ( i.e. 3 or more). 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. 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.

Good for your investment adviser to take call on where to put your new investment. Also it gives you some knowledge as where your money is concentrated. e.g. my 7.87% is already in HDFC so if I also invest in stock, it will give one insight as no need to buy this stock separately as anyway I am heavily invested via mutual fund route.

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 satisfied 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 nails the common requirements. What report would I need ? My transaction history, capital gains (short and long term) and ELSS report. All three are available.

Good point is that even though I joined Kuvera this year, it provided financial year wise reports for capital gain for three financial years.

It has a very simple interface. Not many search / filter criteria but reports have details that add value. Providing previous financial report was really icing on cake. One gets PDF as well as xls version.

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

Reports available on Kuvera

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 fund transfer.

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. Please comment if app that use has similar feature.

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. It needs bank mandate to registered. 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.

how to do SIP SWP STP in Kuvera

Is Kuvera Mutual Fund App Safe?

Hmm. I not authority on guaranteeing that. But what is good to know is money that we invest does not go to Kuvera account at all. Same with redemption. Transaction happens with 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.

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

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, they responded with automated “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 finally 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 technocrat to deal in emails. Human touch helps even in this world of machine learning and artificial intelligence. But I will accept that they did not really delay in reply.

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.


Overall I would rate Kuvera platform as 4 star portal / app. Portfolio import is simple. Transacting is straight forward. Overview of investments gives good insight. Simple and useful reports are there. Login to app is simple with setting up pin.

You can manage folios (hide that are not in use etc). These are small small features which overall make it a very good portal / app. Main pain area for me is portfolio details on mobile – just too cramped for mobile screens. Other than that, its a great deal at free cost. 

I have used multiple platforms before settling with Kuvera and 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 is it 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.

I am getting very good service without paying any cost and I am happy with it and personally using it as my primary app for all Mutual Fund investments.

So if you ask my personal opinion, its A BIG YES from me. But of course, you should do your own research and then decide.

If you wish to open account with Kuvera, request you to use my referral link here and get 100 coins rewarded when you complete sign up. Please comment if you face any issues. I would like to update review based on more users feedback so others can also benefit.

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