Online Investment in Mutual Funds/SIPs

[kunalp123]

Hello Investment Gurus,

Is it possible to invest in mutual funds/SIPs online? If yes, what are the charges for the same?

The reason I am asking is that currently I am investing through broker bluechip and it involves lot of paper work...This demotivates us if we want to make any changes etc...


Thanks & Regards,
Kunal.

 

[yodlee99]

You have to set up a 3-in-1 account with either HDFC securities or ICICIDirect or 1 such brokerage firm. You got to sign in like 25+ pages, but you do it once at the beginning and everything else can be done online. I have been using icicidirect for starting as well as changing SIP in mutual funds. You can do direct investment in stocks, FDs, ETFs etc. I have also heard that hdfcsec is probably cheaper in the long run, but not too sure as I don't bank with them currently.

 

[rckaushal]

You can do online investment in MFs in their respect websites. But the first application u need to submit in hard form. Thereafter u get a portfolio number through which u can invest online in any funds of that fund house.

 

[rajivnc]

You can do online investment in MFs in their respect websites. But the first application u need to submit in hard form. Thereafter u get a portfolio number through which u can invest online in any funds of that fund house.

I have a Folio Number in HDFC MF for HDFC Tax Saver fund, then from that folio number i started a SIP for HDFC Top 200 with SIP Date as 25. Then HDFC want me to set HDFC as a biller in my SBI Bank Account. So I added HDFC as my biller. Today when i check my bank account its showing a sticky note with Due Date as 28-7-2010. I am wondering why this change from 25 to 28. There is also a "Pay Bill" Button in my SBI Account Page. Should i use that Pay Bill button are does it get deducted automatically ?

 

[drsambu123]

Hello Investment Gurus,

Is it possible to invest in mutual funds/SIPs online? If yes, what are the charges for the same?

The reason I am asking is that currently I am investing through broker bluechip and it involves lot of paper work...This demotivates us if we want to make any changes etc...


Thanks & Regards,
Kunal.

Nice article from ET -today- About online MF buying
http://economictimes.indiatimes.com/quickiearticleshow/6198765.cms

 

[sditn]

You have to set up a 3-in-1 account with either HDFC securities or ICICIDirect or 1 such brokerage firm. You got to sign in like 25+ pages, but you do it once at the beginning and everything else can be done online. I have been using icicidirect for starting as well as changing SIP in mutual funds. You can do direct investment in stocks, FDs, ETFs etc. I have also heard that hdfcsec is probably cheaper in the long run, but not too sure as I don't bank with them currently.

With HDFCSec u can open an tra a/c where you may trade in equities, derivatives, ipo, fd's. ETF's & mf's too

 

[URPradhan]

You have to set up a 3-in-1 account with either HDFC securities or ICICIDirect or 1 such brokerage firm. You got to sign in like 25+ pages, but you do it once at the beginning and everything else can be done online. I have been using icicidirect for starting as well as changing SIP in mutual funds. You can do direct investment in stocks, FDs, ETFs etc. I have also heard that hdfcsec is probably cheaper in the long run, but not too sure as I don't bank with them currently.

For buying MF from a new AMC (if you have not already invested), I'll suggest to visit their branch personally and apply there itself. This is only one time task, then once you got your FOLIO NUMBER from AMC then every thing you can do online, absolutely FREE :thumb:

NEVER EVER goto brokers like ICICI Direct as they will deduct Rs 33.09 for each SIP each month. Means if you have 5 SIPs then you have to pay EXTRA Rs 165.45 every month :annoyed:

 

[sditn]

Hi, no idea about other broking firm but with HDFCSEC u may invest in Mutual funds without any charges where in u have to invest minimum 5000 per month & on those AMC which are updated in NSE site but one who should hold trading account with HDFCSEC for more you may contact there customer care desk who will provide you the brief about there products

 

[alroyraj]

Another Option is Sharekhan.

 

[alroyraj]

There are independent websites such as fundsindia.com, fundsupermart.com and several others who offer online mutual fund services. All you have to do is open an account with a one-time registration with these websites. Once your account is open, you can transact in mutual funds with ease.