Direct Mutual Fund on WebNotes

Direct mutual fund portals comparison: Coin vs Groww vs Kuvera vs MFU

Tue, 12 May 2026 00:00:00 +0000

Direct mutual fund plans, mandated by SEBI since 1 January 2013, allow investors to invest in mutual fund schemes without routing through a distributor, thereby avoiding the trail commission embedded in regular plan expense ratios. Several platforms have been built to facilitate direct plan investing: Zerodha Coin, Groww, Kuvera, MF Utility (MFU), and others.

This article compares the four prominent direct plan investment platforms on key dimensions: unit-holding model, registration type, SIP mechanism, account fees, scheme universe, features, and regulatory status.

eCAN (electronic Common Account Number)

Tue, 12 May 2026 00:00:00 +0000

eCAN (electronic Common Account Number) is the online registration process by which an investor creates a Common Account Number (CAN) on MFU (Mutual Fund Utility) using a fully digital, paperless workflow. The eCAN process allows an investor who is already KYC-compliant to register a CAN on MFU without submitting physical forms, enabling direct-plan and regular-plan mutual fund transactions across multiple AMCs through a single account identifier.

The CAN itself is the unique investor-level identifier on MFU that aggregates transactional access across all participating AMCs. The eCAN is the digital pathway to creating this CAN, as distinct from the physical CAN registration form (CRF) process that requires paper documents.

ET Money

Tue, 12 May 2026 00:00:00 +0000

ET Money is an Indian personal finance platform and direct mutual fund investment application, operated by Times Internet Limited, a subsidiary of the Bennett, Coleman and Company Limited (BCCL) media group. Accessible at etmoney.com and through Android and iOS applications, ET Money allows investors to invest in direct plans of mutual fund schemes, purchase insurance products, and access financial planning tools. As of 2024, ET Money disclosed over one crore registered users, positioning it among the larger consumer-facing direct-plan investment platforms in India alongside Kuvera, INDmoney, and Groww.

INDmoney

Tue, 12 May 2026 00:00:00 +0000

INDmoney is an Indian financial services platform and wealth aggregator, operated by INDmoney Private Limited, accessible at indmoney.com and via Android and iOS applications. INDmoney aggregates an investor’s financial holdings – mutual funds, equity portfolios, provident fund, National Pension System accounts, insurance policies, and fixed deposits – into a single dashboard, while also providing direct-plan mutual fund investing, US equity investing, and an INDwealth premium advisory tier. The platform had disclosed over one crore registered users by 2024.

Kuvera

Tue, 12 May 2026 00:00:00 +0000

Kuvera is an Indian direct mutual fund investment platform and SEBI-registered investment adviser (RIA), accessible at kuvera.in. Operated by Arevuk Advisory Services Private Limited, Kuvera allows investors to purchase direct plans of mutual fund schemes at zero commission, provide goals-based financial planning tools, and consolidate portfolios across multiple folios. Kuvera is one of the largest direct-plan mutual fund platforms in India by registered users, with the company disclosing over 35 lakh registered users and approximately Rs. 90,000 crore in assets under advice as of 2024.

Zerodha Coin (direct mutual fund platform)

Mon, 11 May 2026 00:00:00 +0000

Zerodha Coin is a direct mutual fund investment platform operated by Zerodha, accessible at coin.zerodha.com. Coin allows Zerodha clients to invest in direct plans of mutual fund schemes offered by asset management companies (AMCs) registered with the Association of Mutual Funds in India (AMFI), without routing through a distributor or financial advisor. Mutual fund units purchased through Coin are held in the investor’s demat account rather than in a statement-of-account (SOA) format, distinguishing Coin architecturally from distributor-based and registrar-based mutual fund platforms.