Best Mutual Funds Affiliate Programs in India

Last Updated on October 13, 2026 by Muskan Sinha

It is no surprise that with growing digital advancement, people prefer things to be done digitally rather than on paper. In such a scenario, people have swiftly shifted to digital investing rather than going to financial institutions and having a manager sell them their plans. Mutual funds have always been a go-to option for people who want to build long-term wealth and secure their future. But this journey is not easy and people need someone who will guide them through and help them make informed decisions. 

There is a pool of financial platforms that offer competitive services and low-cost investment options, but the key here is to choose the one that aligns with their financial goals and objectives. As more people look for trusted platforms to start their SIPs and long-term investments, mutual fund affiliate programs have emerged as a powerful opportunity for content creators, finance bloggers, influencers and marketers to earn income by referring users to investment platforms.

What is a Mutual Fund Affiliate Program?

Mutual fund affiliate programs allow individuals or businesses to earn commissions by promoting investment apps or broker platforms that offer a range of investment options. These programs offer affiliates incentives when a referred user completes actions such as app installation, account registration, KYC verification or making their first mutual fund investment. Since mutual funds are long-term financial products, many programs also offer recurring or high-value payouts compared to traditional affiliate programs.

Affiliates simply have to join a mutual fund affiliate program and promote affiliate links across various social media platforms to encourage people to invest in mutual funds or any other financial products. The commission structure is usually CPL (Cost Per Lead) or CPS (Cost Per Sale), depending on the program. Affiliates also get additional tools from the platforms to help them sell their products. They can track their earnings through the affiliate dashboard and be at an advantage in promoting products of highly reputable companies. 

List of Top 5 Mutual Fund Affiliate Programs in India

1. Groww Affiliate Program

Groww is one of the leading stockbroking platforms with 1.4 cr active customers and offers a range of financial products and services to people online. People can invest in stocks, equity, mutual funds, futures and options, commodities and more. Groww emphasizes simple, transparent investing with direct mutual funds at zero commission, paperless KYC and easy navigation for both beginner and experienced investors.

The Groww affiliate program follows a cost-per-sale model and offers affiliates a competitive commission of Rs 1250 for promoting its financial products. With 500+ mutual fund options to promote at zero commission, affiliates can easily attract audiences and encourage them to leverage this best stockbroking platform and build their long-term wealth. 

Key Features 

• Affiliate Commission Rate – Rs 1250 per sale
• Wide Range of Financial Products – Affiliates can promote diverse financial products, including equity, stocks, commodities, ETFs, IPOs, and mutual funds. 
• Reputable Platform – Groww is the largest and number one stockbroker in India, making it easy for affiliates to attract audiences. 
• Direct Mutual Fund – Option to invest in 500+ mutual funds directly with zero commission. 
• Paperless Account Opening – Groww allows people to invest in its financial products through an online KYC, paperless process. 
• No Additional Cost – Individuals do not have to pay any account opening charges and annual maintenance charges. 
• Brokerage Charges – 

Delivery – 0.05% or Rs 20 per trade 

Intraday – 0.05% or Rs 20 per trade

Equity – Rs 20 per trade

Futures – Rs 20 per trade

Options – Rs 20 per trade

2. Angel One Affiliate Program

Angel One is a well-established Indian stockbroker and investment services platform that offers a wide range of financial products like equities, derivatives, commodities, mutual funds, IPOs, ETFs and more. It also provides free Demat account opening, research tools and integrated investment services on a single platform. Angel One offers over 4,000 mutual funds to invest in, all without any hidden costs or charges. 

The Angel One affiliate program is a rewarding opportunity for individuals to join, offering a decent commission of Rs 125 per sale. Affiliates can promote a wide range of financial products and services backed by research and analysis. With 30 years of market experience, Angel One has strengthened its credibility by helping people find suitable investment options, making it easier for affiliates to attract potential investors and support them throughout their investment journey. 

Key Features 

• Affiliate Commission Rate – Rs 125 per sale
• Zero Brokerage – Individuals pay Rs 0 brokerage commission for the first 30 days
• Multiple Mutual Fund Options – Affiliates can promote over 4000 mutual funds to individuals based on their financial goals and needs. 
• No Additional Costs – Individuals pay no account-opening or annual maintenance charges for the first year. 
• Mutual Funds Tools – Angel One offers a mutual fund return calculator, SIP calculator and diversified investment schemes all under one platform. 
• Reputable Platform – Angel One has won the trust of people for 30 years, making it easy for affiliates to build their credibility and drive sales. 
• Educational Content – Individuals get access to educational resources like lessons on smart money, investment and money management courses and modules for different terms in investing. 
• Diverse Financial Products – Apart from mutual funds, affiliates can promote a wide range of financial products such as equity, derivatives, EFTs, IPOs, etc and cater to different investors to increase their earnings. 
• Brokerage Charges – 

Delivery – Rs 0

Intraday – 0.03% or Rs 20, whichever is lower

Futures – 0.25% or Rs 20, whichever is lower

Options – 0.25% or Rs 2,0 whichever is lower

3. ICICI Direct Affiliate Program

As an arm of ICICI Securities, ICICI Direct is one of the largest financial platforms for investing, trading, and brokerage. It offers a diverse range of financial products such as stocks, derivatives, ETFs, bonds, IPOs, mutual funds and more to help people make the most of their investment journeys. What stands out with ICICI Direct is that it offers a 3-in-1 account for demat, trading and banking accounts to facilitate easy wealth management. 

With ICICI Direct, people have the option to explore over 3000 mutual fund options based on categories such as growth funds, hybrid funds, tax saver funds, small cap funds and more. It also has an import portfolio option, so individuals who hold mutual fund investments elsewhere can view them on this platform as well. The ICICI Direct affiliate program offers affiliates a generous 40% commission on every sale for promoting their diverse range of products.

Key Features 

• Affiliate Commission Rate – 40% commission per sale
• No Additional Charges – Individuals pay no account opening charges
• 3-in1 Account – For a seamless investment journey, ICICI Direct offers customers a 3-in-1 account for opening a demat account, trading account and banking account, helping them manage their funds under one account. 
• Multi-Product Offering – As a full-service broker, ICICI Direct offers more than 2500 investment schemes, allowing affiliates to promote its other financial products such as stocks, bonds, equities, insurance, IPOs and derivatives. This helps affiliates reach a wider audience and promote tailored options to increase their earnings.  
• Strong Brand Recognition and Credibility – ICICI Direct is a trusted brand with over 27 years of experience and a loyal customer base in India. It makes it easier for affiliates to promote their products and drive sales easily. 
• Top Rated Funds – ICICI Direct offers well-researched schemes to help people make informed decisions and navigate the mutual fund landscape with ease. 
• Brokerage Charges – 

Delivery – 0.07%

Intraday – Rs 20 per order

Futures – Rs 20 per order

Options – Rs 20 per order

4. Anand Rathi Affiliate Program

Anand Rathi is a prominent name in the Indian financial services industry and offers wealth management, stock broking and investment advisory services. Its mutual fund platform provides access to 5,000+ schemes across multiple AMCs and additional features like hassle-free SIPs and advanced digital tools through the AR Invest app. 

They aim to make wealth creation an easy process for their customers by offering a diversified basket of assets, expert insights and cost-effective investment solutions. The Anand Rathi affiliate programs serve as a great earning opportunity for affiliates as they earn a decent Rs 100 on every lead generated. With their AR app, individuals can explore more opportunities,  get a curated MF basket and manage their portfolios, making it suitable for affiliates to promote their products. 

Key Features 

• Affiliate Commission Rate – Rs 100 per lead
• Diverse Financial Products – Affiliates can also promote a diverse range of financial products along with mutual funds to increase their earnings like equity, bonds, futures and options, derivatives, commodities, IPOs and more. 
• Trusted Platform – With over 8 lakh customers putting their trust in Anand Rathi’s investment services, affiliates get to strengthen their credibility and find it easy to promote their products to a broader audience depending on their needs.
• No Additional Costs – Individuals pay no account opening charges and receive free annual maintenance for the first year. 
• Research and Advisory Services – Anand Rathi offers schemes backed by experts to help people make informed investment decisions and achieve higher returns. 
• Comprehensive Mutual Fund Collection – Anand Rathi offers 5000+ schemes for mutual funds which are backed by research, allowing affiliates to offer a wide basket to their audience. 
• Competitive Returns – Individuals get competitive returns on their investments as they can move through the market trends and select from the high-performing funds. 
• Brokerage Charges – 

Delivery – 0.20%

Intraday – 0.02% per order

Futures – 0.02% per order

Options – Rs 50 per lot

5. Upstox Affiliate Program 

Upstox is a leading discount brokerage and investment platform in India and offers a range of services for trading and investing in stocks, derivatives, commodities, currencies, ETFs, IPOs and mutual funds. Upstox’s mutual fund platform provides access to thousands of schemes with paperless SIP investing and tax-saving ELSS options. 

Upstox has advanced trading platforms like Upstox Pro Web, Developer Console, Option Chain Tool, Bridge for Amibroker and the Upstox MF platform, which offers thousands of mutual funds to invest in. The Upstox affiliate program offers a decent commission of Rs 765 per lead, making it a profitable program. Since the platform also offers educational resources and expert insights, affiliates can promote their products to first-time investors as well as experienced ones to increase their earning potential.  

Key Features 

• Affiliate Commission Rate – Rs 765 per lead
• No Additional Costs – Individuals pay no account opening charges and no annual maintenance charges for the first year, making it an ideal opportunity for individuals to invest in. 
• Comprehensive Mutual Fund Options – Upstox offers over 2000 mutual fund options for individuals to choose from and based on categories like market capitalization and diversification such as small cap, mid cap, large cap, value, index fund, etc. 
• Diverse Product Offering – Affiliates can also increase their earnings by promoting a diverse suite of financial products along with mutual funds such as equity, stocks, derivatives, futures and options, IPOs and more. 
• Educational Resources – Upstox offers a learning platform called Uplearn where individuals learn about important investment terms, market trends, risk tolerance techniques and much more from experienced professionals. This can help affiliates easily target first-time investors. 
• Brokerage Charges – 

Delivery – Rs 20 per trade 

Intraday – Rs 20 per trade  

Futures – Rs 20 per trade  

Options – Rs 20 per trade. 

How to choose the best Mutual Fund Affiliate program?

1. Look for the brand’s credibility and reputation to ensure safety and security. 
2. Choose the program that offers the highest commission rate and check whether the program follows a CPL, CPS or CPA model.
3. Focus on your target audience and choose accordingly if they are first-time investors or experienced investors.  
4. Ensure that the platform offers advanced tools and educational resources.
5. Check whether you have to pay any hidden fees or not before joining the program.

Conclusion

Affiliates who have a profound knowledge of the finance niche and can help others in creating long-term wealth can be at an advantage in joining mutual fund affiliate programs. With people moving towards digital investments, it becomes crucial for affiliates to choose the right program that offers comprehensive mutual fund options, tools, other financial products and a high commission rate. The rise of stockbroking platforms opens the door for fintech affiliates to earn additional income by promoting their products and helping people achieve their financial goals.