HomeInvestment5 Best Robo Advisors in India - Review

5 Best Robo Advisors in India – Review

Robo Advisors are automated programs that provide financial guidance and investment advice online without human intervention. It uses a fixed rule set for offering investment advice. Robo Advisors are generally suitable for “Do it yourself Investors” or new investor who don’t want to spend money for availing investment advice. To use this platform you need to input various parameters such as investment amount, duration and other details.

best robo advisors in India

How Robo Advisor work? 

Robo Advisor works on a pre-defined algorithm. It gives output on a screen based on input and predefined logic. The logic is designed by humans. The algorithm and logic are modified from time to time based on market condition and performance.

Every advisor platform is different, however, they generally start with asking questions about goals, timeline, and risk. Based on answers given by advisor platform display recommended investment. Once you invest your money, it monitors your investment portfolio.

Also Read – Top 10 Popular Robo Advisors in India

The difference between the traditional financial advisor and Robo advisor are given below.

Traditional AdvisorRobo Advisor
ExpensiveLow Cost or Free
Manual ProcessAutomatic Process
Slow in ResponseNearly Realtime
Individual Skills MatterAlgorithm & logic matter
Less RiskyRisky in nature

From the above comparison, one can easily say that advisor platforms are more beneficial. However, investments made via advisor route is risky.

Benefits of Robo Advisors

Low Fees – The first benefit of the robo advisor is cost. It is a low-cost solution and cheap compared to the traditional advisor.

Easy Access – It is very easy to access advisor platform. It is online and accessible anytime anywhere.

Low or Minimum Investment requirement – One can use this facility online without any cap on low or minimum investment requirement.

Unbiased – These type of advisors are not biased by any specific products.

Human Error – You can eliminate human errors by using an advisor platform.

Self-check – You can change various input by self and check the impact on portfolio before investing money.

Who should use Robo Advisor?

Robo advisors are recommended under the following situation.

  • You are Tech Savvy and you know how to use online tools and support.
  • You are “DIY” (do it yourself investors) and comfortable to let someone else do all your investing.
  • Your risk-taking capacity is high and you don’t need direct contact with the financial advisor.
  • You understand the impact and fees associated with online advisor platforms.
  • You don’t have a budget to meet the minimum requirement of a traditional advisor.

Best Robo Advisor in India

Funds India

Funds India is one of the best robo advisor platform in India. The name of robo advisor by Funds India is Money Mitr. Money Mitr offers high-quality, personalized investment advice. You can use Money Mitr robo advisor for various investment goals such as building wealth, retirement, children education etc.

After login you need to enter investment amount, period and risk level. This platform automatically designs your mutual fund portfolio. It is claimed to be free platform.

Key Features of Money Mitr

  • Design your investment portfolio and fine tuning
  • Suggestion of best mutual funds for investment
  • Tax saving investment option suggestion
  • Automatically track and review the progress
  • Mobile application available anytime anywhere


Scripbox is next in the list of best robo advisors. Scripbox platform is easy to operate. It does not require any login. You need to set right financial goal and provide various inputs. It provides you option for SIP, wealth building, tax saving and achieving financial goals.

The scirpbox is also available on mobile android platform. It is free to use simple and fast platform. You can rely on the investment advice offer through this platform.

Key Features of Scripbox

  • Investment option suggestion based on goals
  • Automatic Investment with a click of button
  • Tax Optimization tools
  • Completely auto pilot advisory
  • Available on Mobile platform


5Paisa offers one of the best robo advisor platform. 5Paisa advisor is also known as Auto Investor. It is very easy to use 5Paisa Auto Investor. You just need to enter your financial goal and profile detail. It will be used to know your risk profile. Once you input the detail you will get recommendation on the screen.

Once recommendation is given it will prompt you to open online account. If you don’t have 5Paisa account, you will not able to see recommendation.

Key Features of Auto Investor

  • Smart Profiler for recommendation of funds
  • Wide Range of investment products
  • Create track and rebalance your investments
  • Portfolio Management


Goalwise is goal based direct mutual fund investing platform. It is completely free zero commission platform. It is data driven unbiased mutual fund selection platform that offers higher returns. You need to sign up before using this platform.

You will get mutual fund recommendation, report card, end to end goal based investing and live chat option under this platform.

Key Features of Goalwise

  • On track off track recommendations
  • Invest in direct plan without commission
  • Portfolio rebalancing
  • Tax Optimization


Arthayantra is one of the oldest financial advisor platform in India. Arthayantra assess your current status, get input about your goals and try to assess risk profile. You will get financial advice based on inputs. It will also offer custom built portfolio for your investments. You can also use this platform for making investment. It is paid platform and somewhat complex platform compared to others.

Key Features of Arthayantra

  • Advice on Goal, Risk, Insurance and Tax
  • Customized Mutual Fund Portfolio & Review
  • Interaction with financial advisors
  • Financial health score
  • Status tracking of goals

I hope above list of best robo advisor will help you in making a right selection. In addition to above advisor list you can take a look at other popular online advisors such as BigDecisions, ZIPSIP, Kuvera etc.

Over to you

If you are aware of all investment products, robo-advisors are for you. Robo Advisors helps you to take quick, easy and cost effective decision for your finance.

However, robo advisor are suggested only if you want to start with SIP with small amount.

Robo advisor are algorithm based and works on human inputs. A wrong input leads to bad investment decision. I would recommend to interact with human financial advisor before taking any investment decision.

Disclosure – I have tried to get advice from most of the above platforms. However, I have not invested based on the advice offered by them.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.