The more your money gets spread across different products the harder it becomes to keep track of your savings. You may have a PPF account at a bank or a post office, you may have fixed deposits with a number of different banks and you may have a range of mutual fund investments in various schemes. Each of those has its own set of statements, its own maturity dates, its own method of interest calculation and its own way of accessing the account.
An investment app can be a great way to make it easier to keep an eye on your financial picture by providing all the relevant information and investment tools in one digital environment. The catch is that not every app will show you every holding. It's vital to know what the app will track, what you'll need to enter yourself and whether the information is updated on a regular basis.
The best app isn't necessarily the one with the most features. It's the one that enables you to track your savings properly, gives you a proper understanding of your investments and allows you to make sound decisions without losing sight of your overall financial objectives.
Table of Contents
1. What Should You Look for in an Investment App?
Before you go and pick an investment app in India, think about how well it will suit your own saving habits. A good app will make financial information easier to grasp rather than just adding another layer of complexity on top.
Look for features such as:
- A consolidated view of investments and savings
- Mutual fund portfolio tracking and return calculations
- Tools to monitor investment performance
- Reminders for fixed deposit maturities and recurring contributions
- Access to statements, transaction records and relevant market information
- Clear security practices and transparent charges
Also need to distinguish between an app which enables you to invest in a product and one which merely tracks it. These are two very different things. An app may be able to facilitate your mutual fund transactions but you'd still have to manually enter your PPF balance or your FD details.
2. Tracking PPF Investments
The Public Provident Fund is a long term scheme with a 15 year maturity (subject to applicable extension and withdrawal rules). As the contributions and interest build up over time, it makes sense to keep an eye on the account to see how you're progressing towards your long term objective.
When tracking PPF, keep an eye on:
- Your total contributions
- The current account balance
- Interest credited
- The annual contribution limit
- Eligibility for withdrawals and account extension
An investment app might have a manual portfolio entry facility or a notes function in which you can enter your PPF details. If it doesn't have a direct link to your PPF account then you'll need to update the balance with the balance as at from your most recent statement or passbook.
Always use your bank or India Post's official channels to check the actual balance and transactions. A tracker is just a convenience, not a replacement for the official record of your account.
3. Managing Fixed Deposits in One Place
Fixed deposits can be in a number of banks with various interest rates, various maturity dates and various payout arrangements. Without a central record you can easily miss a maturity date or forget the terms of a particular deposit.
A savings tracker can help you record the information that matters:
- Bank or financial institution
- Principal amount and interest rate
- Deposit and maturity dates
- Interest payout frequency
- Maturity amount, where provided by the institution
- Premature withdrawal conditions
For instance if you've got three FDs with different maturity dates you can use a single tracker to see when each one matures. You can then decide whether to renew the FD, whether to use the funds for an upcoming expense or whether to look at another option.
Remember that the maturity amount and interest calculations should be checked against the bank's deposit advice or statement. Not all investment apps will automatically pull the FD details from every bank.
4. Tracking Mutual Funds and Portfolio Performance
Mutual fund tracking is more than just checking whether the current value is up or down on the face of it.
A good tracker would enable you to look at scheme name, units held, amount invested, current value and returns. If available XIRR can be used to work out the annualised returns for investments made at different times (e.g. via a SIP).
You should also look at the purpose of each investment. An equity fund which is for a long term goal will be assessed very differently to a debt fund which is for a shorter term requirement.
The Consolidated Account Statement (CAS) which is available via the depository and mutual fund systems can be used by eligible investors to look at their relevant securities and mutual fund holdings. It won't however necessarily contain every type of savings product (e.g. all PPF accounts and all bank FDs).
Check the source and date of any data that's displayed in your app (particularly if the holdings are imported or entered in manually).
5. Can One App Track PPF, FDs and Mutual Funds?
Some apps will have broad portfolio dashboards, others will be focused on particular investment products. Before you go and select an app, check that it covers all three of those areas and how each of those areas is updated.
| Feature | What to verify |
|---|---|
| PPF tracking | Direct integration or manual balance entry |
| Fixed deposits | Maturity reminders, interest details and update frequency |
| Mutual funds | Holdings, transactions, current value and return calculations |
| Consolidated view | Whether all assets appear together |
| Data reliability | Source of information and last update date |
| Security | Authentication, privacy controls and data permissions |
If the app can't connect to a particular account you may still be able to keep a consolidated record by manually entering the details. Just be sure to update those figures regularly.
6. Using Dhanush 2.0 for Investment Monitoring
Investors looking at Ashika's Dhanush platform can have a look at the investment and market features available to see if they meet their own requirements. As with any platform that you're considering as a complete savings tracker, you need to check what products it offers, whether it shows your external holdings and whether your balances are updated automatically.
A platform's ability to facilitate investment activity doesn't in any way imply that it can consolidate every bank deposit, every PPF account and every external mutual fund holding. Check the current feature list and account specific availability prior to making any decision.
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Conclusion
The best app for tracking your PPF, your fixed deposits and your mutual funds is one that gives you the right information, makes it easy to update and clearly tells you what it can track. It's all about making it easy to get a handle on your savings, to keep track of the key dates and to be able to assess your progress towards your financial goals.
Before you go and pick an investment app in India, compare the tracking, the data sources, the security and the cost. Check your balance via the official statements, keep your emergency savings in an accessible account and review your portfolio as and when you need to.
Frequently Asked Questions
What happens if I forget to square off an intraday position?
Your broker may automatically close the open position before the market closes. The timing and process depend on the broker's auto square-off policy.
Do brokers charge for automatic square-off?
Yes, brokers may levy an additional auto square-off charge. The amount varies by broker, so check the applicable brokerage and charges before trading.
Can an intraday position be converted into delivery?
Some brokers allow you to convert an eligible intraday position into delivery, provided you meet the required conditions and have sufficient funds or shares. This option may not be available for every stock or position.
What happens if I don't square off a short intraday position?
If you leave a short intraday position open, your broker may attempt to close it before the trading session ends. If it remains unsettled, the outcome depends on the broker's policies and applicable exchange procedures.
Can I avoid automatic square-off charges?
You can reduce the chances of incurring these charges by monitoring your open positions and closing them before your broker's cut-off time. Avoid waiting until the final minutes of the trading session.
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