MF Investment plateform

[arunji]

Hello,

Anybody has used MF investment plateform like Fundsupermart.com? What is your experiance? Apart from Fundsupermart.com, is there any such platform?

Thanks

Arun Patel

 

[nsuresh_rasr]

I am using Fundsindia.com for the last 3 yrs. They are good.

 

[pangusanthaielearn]

Hi , iam planning to invest in fundsindia.....they say its for free,but how do they manage to run their business....
also we are giving our bank accounts to them,is it reliable.....

where do they store the mutual funds we buy ,is there kind of depository,HDFC

is offering but they charge more.Please advise on this

 

[nsuresh_rasr]

pangusanthaielearn,

they say its for free,but how do they manage to run their business....
--> Funds India is just a platform for buying Mutual Funds, just like MF brokers. They dont charge anything from customers, however they get commission from the MF company for selling/promoting their funds. The % of comission each Brokerage firm pays to Funds India is listed on their site.

also we are giving our bank accounts to them,is it reliable.....
--> Whenever you want to buy Mutual funds, you need to specify your bank account information in the MF forms. Since Funds India is an online platform, they store this information for you. Yes they are reliable and i have been using them for the last three years. Nothing worrying.

where do they store the mutual funds we buy ,is there kind of depository,HDFC
--> All the MF you buy are tied to your PAN #. Even though you buy the MF from fundsindia, you do get monthly consolidated statement from CAMS. In case if you close your funds india account, still you get buy/sell your invested funds using your FOLIO/Pan #. (Your MF funds are not tied to funds india)

Srikanth from Funds India, in case you are reading this, you need to give me an iPad for promoting your platform.

 

[pangusanthaielearn]

Thank you