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In India, what is the difference between Dividend and Growth mutual fund types?
The difference between dividend and growth in mutual funds has to do with the types of stocks the mutual fund invests in. Typically a company in the early stages are considered growth investments. In this phase the company needs to keep most of its profits to reinvest in the business. Typically once a company gets a significant size the company's growth prospects are not as good so the company pays some of its profits in the form of a dividend to the shareholders.  As far as which is the best buy is totally a personal choice. There will be times when one is better then the other. Most likely you will want to "diversify" and invest in both types.