FundsIndia.com Reviews

[MPAI]

Any replies for HarbinderSingh's Query??

 

[2021]

I'm not official person of FundsIndia and they are better person to answer. All I can say is they are just a platform to provide investment in mutual funds. All investments are done on our name via them just like any local broker or high fee charging investment advisors and agency or portfolio management services. They provide equity trading via some broker already registered to exchanges but charges are too high for services offered. They are registered with SEBI and one can see it's registration no on website. And finally I do cross-check and get statements from CAMS/Karvy on every transaction or I can get on sms/email on request when I need later by visiting CAMS or Karvy site. CAMS and Karvy are pan-India transfer agents and registered for transaction records and work for almost all mutual fund companies. To my best knowledge role of FundsIndia is just a broker and transfer of money or units is done via CAMS/Karvy and mutual fund companies.

 

[HarbinderSingh]

They say that they are a sub broker of Emkay Share Traders (http://www.emkayshare.com/). But no information about this on this website. I think FundsIndia should give a detailed information about their genuineness on their website.

 

[shubh]

I also have a/c in fundsindia. It is very good and easy to use portal for mutual fund transactions.

 

[sylar123]

I have one query to the users who are using fundsindia.com.

Do you get separate folio numbers for each fund house after buying from fundsindia.com ? e.g. I bought a fund from hdfc securities, I didn't have any information except I can see units sitting in my demat account. I really don't want that.

 

[dipan.kumar]

@2021
for alert SIP, do I need to have 2000Rs as minimum sip ?
I mean to say that you mean to say that 2000 is the first SIP and thereafter I can invest any amount greater than 500 rs ?..please clear this to me..

 

[2021]

@2021
for alert SIP, do I need to have 2000Rs as minimum sip ?
I mean to say that you mean to say that 2000 is the first SIP and thereafter I can invest any amount greater than 500 rs ?..please clear this to me..

I've HDFC Mid Cap, SBI Global and Birla Sunlife International A as alert SIP out of which I've foreclosed BSL International. Yes, all above SIPs need 2000 and I did a cross-check by adding new SIPs if New Initial Investment and Monthly Amount varies but all showing 2000. Even for those funds which can be started with or needs new investments 500 or 1000 like SBI Multiplier or Reliance Regular Saving needs 2000.

I also checked that a flexi-SIP has minimum of 1000 limit and maximum upto any amount and Regular SIP has 1000 limit. What one can do is stop Alert SIP once you start as I did in BSL International and now add as low as 1000 in same folio number any day of my wish. In SBI Golbal my additional investment on any day other than SIP due date is 500. If I close SBI Global next time I can put 500 after stopping instead of 2000 on due date. Hope this helps.

 

[shilpaks7]

dont they also have a Dmat maintenance charge fro mthe second year onwards?

 

[2021]

dont they also have a Dmat maintenance charge fro mthe second year onwards?

Thats if you open a Demat. As I already mention broking charges are too high in competative world where zerodha or religare or indiabulls provide 0.01% and 0.1% rates why will anyone pay 15 or 0.3% whichever is "higher"? I mean if I buy a share worth 1000 I'll pay 15 bucks plus sebi charges plus nse charges plus duties and taxes plus demat charges and above all annual charges which everyone forgets. At zerodha's plan b which is 0.01% I will pay re 1 plus necessary charges (sebi, nse, demat, taxes, duties) whereas fundsindia is charging 0.3%!

All that glitters is not gold. Fundsindia can be beneficial in mutual funds which is it's main usp but not equities because it has a) outsourced it's equity services and b) emkay, service provider is charging too much in cut throat compition. You'll be liable for demat charges if you want to buy ETFs or trade in shares via fundsindia. There is no charges on mutual funds, not a single penny!

 

[dipan.kumar]

@2021
Thanks...thats the alterbative way and much better....nowdays it is easy to set reminder in calenders and for that we dont need alert sip...