ET Money vs INDmoney: Charges, licences and phone permissions compared

Both ET Money and INDmoney let you invest in direct mutual funds and add investments you hold elsewhere. INDmoney's broking arm is a SEBI registered stock broker. ET Money's company is a SEBI registered investment adviser and research analyst. Compare their charges, phone permissions and user complaints.

By Qrates research desk · 2026-11-01

If you are comparing ET Money and INDmoney, both apps allow you to invest in direct mutual funds and add investments you hold elsewhere. INDmoney's broking arm, INDstocks Private Limited, is a SEBI registered stock broker. ET Money's company, Banayantree Services Limited, is a SEBI registered investment adviser and research analyst. You can check the latest figures on the ET Money and INDmoney Qrates pages before you install either app.

At a glance: Licences, permissions and complaints

Both apps belong to the mutual fund and wealth category, but they hold different regulatory licences. They also ask for different levels of access to your phone data. The table below compares their regulatory status, phone permissions and user ratings. Licence numbers are from SEBI's register, and the rest is from the Qrates directory.

Feature	ET Money	INDmoney
SEBI Licence	Investment adviser INA100006898, research analyst INH000015640	Stock broker INZ000305337
Other Licences	IRDAI corporate agent CA0680 (status not confirmed)	Depository participant IN-DP-690-2022, IFSCA for US stocks
Phone Permissions	Reads SMS. Does not read contacts	Reads SMS. Reads contacts
Google Play Rating	4.4	4.6
Most Raised Problems	Nobody answers, Pushed into things, App breaks	Pushed into things, Nobody answers, Charges nobody mentioned

Investment options: Mutual funds, US stocks and Indian shares

Direct mutual funds

Both ET Money and INDmoney allow you to invest in direct mutual funds without paying commission. INDmoney's page lists account opening, maintenance, commission and platform charges as zero. ET Money's app listing describes direct plans with no commission. Exit loads and fund expenses still apply.

US and Indian stock broking

INDmoney allows you to open a demat account to buy and sell Indian shares. It also offers US stocks through a GIFT City company regulated by IFSCA. We could not confirm from an official page that ET Money offers US stocks or a demat account, so check the app. ET Money focuses on mutual funds and its Genius service. If you are interested in how other platforms compare, you might find our analysis of stock broking and trading apps helpful.

Charges and fees compared

Neither app charges commission on direct mutual funds. INDmoney lists brokerage on Indian stocks of 0.1% or ₹20 per executed order, whichever is lower, with a minimum of ₹2, plus exchange, DP and other charges. On US stocks, it lists brokerage of 0.25% per trade, and one INDmoney page caps this at $25. INDmoney says the forex conversion charge of 0.5% to 1.2% is charged by your bank, not by INDmoney. ET Money charges a subscription fee if you choose to upgrade to ET Money Genius, its paid service. Check the current price in the app. For a broader look at costs, you can explore what changed across money apps to see how fee structures are evolving.

Phone data permissions and privacy

The Qrates directory lists both apps as reading your SMS. It lists INDmoney as reading your contacts, and ET Money as not reading them. Check the Data safety section on Google Play for the current list.

Who each one suits, by need

If trading Indian shares matters to you, note that INDmoney allows you to open a stock broking account for this purpose.
If you want mutual fund advisory, note that ET Money's company is registered with SEBI as an investment adviser.
If phone privacy matters to you, review the specific permissions each app requests before installing. You can also compare money apps side by side to see how their security and feature sets align with your needs.

FAQs

Which is better for mutual funds ET Money or INDmoney?

Qrates does not pick one. Both offer direct mutual funds without commission. ET Money adds a paid Genius plan. INDmoney adds stock broking alongside its mutual funds.

Are there any hidden charges in INDmoney?

INDmoney says it charges no account opening fee, maintenance charge or commission on direct mutual funds. For Indian stocks, it lists brokerage of 0.1% or ₹20 per order, whichever is lower, plus other charges. For US stocks, it lists brokerage of 0.25% per trade. Your bank also charges a forex fee when you add money for US stocks.

ET Money safe hai ya nahi?

ET Money is published by Banayantree Services Limited. SEBI's register lists this company as an investment adviser (INA100006898) and a research analyst (INH000015640). A registration does not protect you from market losses.

Can I track my external mutual funds on INDmoney and ET Money?

Yes, both say you can add investments you hold elsewhere. INDmoney calls this importing your funds. ET Money's app listing mentions a PDF statement upload. Qrates lists both apps as reading SMS.

Is INDmoney SEBI registered?

Yes, for Indian stocks. INDstocks Private Limited is a SEBI registered stock broker with licence number INZ000305337. INDmoney's US stocks go through a GIFT City company regulated by IFSCA, not SEBI.

The short version

ET Money and INDmoney both offer direct mutual funds and let you add outside investments.
INDmoney offers Indian shares, and US stocks through a separate IFSCA regulated company.
ET Money's company is a SEBI registered investment adviser, and Genius is its paid service.
The Qrates directory lists both apps as reading SMS. Only INDmoney is listed as reading contacts.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation.