Feedback on FundsIndia.com
- Thread starter ZaheedIslam
- Start date
Hi Zaheed,
First of all, congrats on taking your first step towards eco-investing. I would say your step is a good one as you have decided to go ahead with online mutual fund invetsemnts.
I would like to share that there are many such active portals but the two main ones are Fundsupermart and Fundsindia. Both of them are good. But I would say please first talk to the customer services team of both these sites, understand both of them well and then choose which one to go ahead with.
I personally use fundsupermart as they have more fund house options, more banks (I use CITIBANK), experienced Research team, and a personalized investment specialist available for me.
Cheers!!!
First of all, congrats on taking your first step towards eco-investing. I would say your step is a good one as you have decided to go ahead with online mutual fund invetsemnts.
I would like to share that there are many such active portals but the two main ones are Fundsupermart and Fundsindia. Both of them are good. But I would say please first talk to the customer services team of both these sites, understand both of them well and then choose which one to go ahead with.
I personally use fundsupermart as they have more fund house options, more banks (I use CITIBANK), experienced Research team, and a personalized investment specialist available for me.
Cheers!!!
Zaheed,
Srikanth from FundsIndia here (I am a co-founder and director of the firm).
Just wanted to add my two cents to what Gyaaani wrote above. At FundsIndia, we offer 40 mutual fund companies that cover more than 99% of the assets in the market. I don't think we have less AMC options than our competition. We offer net-banking services via 33 different banks, and Citibank is available for SIP investments (via Direct Debit). Our research team is headed by Vidya Bala, an industry veteran who has been doing MF research for the past decade. We provide free advisory services as well to provide personalized consultation for your financial needs.
Apart from these, we also provide many other features such as value-averaging investment programs, Flexi SIP, Step-up SIP, consolidation of family accounts and other features that our competitors do not provide in the market.
Overall, we do believe that we provide the best, most feature-rich, most convenient MF investment platform in the country. Please write to us at welcome @ fundsindia.com to get more details.
Thanks,
Srikanth
FundsIndia.com
Srikanth from FundsIndia here (I am a co-founder and director of the firm).
Just wanted to add my two cents to what Gyaaani wrote above. At FundsIndia, we offer 40 mutual fund companies that cover more than 99% of the assets in the market. I don't think we have less AMC options than our competition. We offer net-banking services via 33 different banks, and Citibank is available for SIP investments (via Direct Debit). Our research team is headed by Vidya Bala, an industry veteran who has been doing MF research for the past decade. We provide free advisory services as well to provide personalized consultation for your financial needs.
Apart from these, we also provide many other features such as value-averaging investment programs, Flexi SIP, Step-up SIP, consolidation of family accounts and other features that our competitors do not provide in the market.
Overall, we do believe that we provide the best, most feature-rich, most convenient MF investment platform in the country. Please write to us at welcome @ fundsindia.com to get more details.
Thanks,
Srikanth
FundsIndia.com
Zaheed,
As I said both the platforms are good. I had only mentioned features of Fundsupermart as i transact with them and prefer them over other. It's a consumer's view.
And below Srikanth has provided you with a wonderful explanation about fundsindia.
I would still say call their respective customer services team and then decide. As along with features services are also important. :thumb:
P.S: For SIP's all the banks are available as it does not require any bank setup with an online platform. It's all about availability of banks for lumpsum transactions and the toll is 47 at fundsupermart.
Cheers!!!
As I said both the platforms are good. I had only mentioned features of Fundsupermart as i transact with them and prefer them over other. It's a consumer's view.
And below Srikanth has provided you with a wonderful explanation about fundsindia.
I would still say call their respective customer services team and then decide. As along with features services are also important. :thumb:
P.S: For SIP's all the banks are available as it does not require any bank setup with an online platform. It's all about availability of banks for lumpsum transactions and the toll is 47 at fundsupermart.
Cheers!!!
I have an account at both FundsIndia and Fundsupermart. Though I had an acceptable service from both the portals, recently I have seen instances wherein Fundsindia is falling behind in its race.
Let me go chronologically backwards :
1. They have stopped showing Annualized returns for funds held for less than a year. If you have (Ultra) Short term Debt funds, and you manually do SIP every month, you would like you see how have your investments done on a annualized basis when making new investments.
2. If you are opening accounts for your family members, they insist all family members are included in a single account. Sometimes, you would want a separate account. You cannot hold more than account in Fundsindia under a single PAN. After all, I do have both individual and joint bank accounts. You cant do that at FundsIndia.
3. I tend to find the CS team at Fundsindia a bit more clueless than Fundsupersmart.
4. In case of one of my family member's account, it took Fundsindia more than 2 months to activate the account.
5. I find Fundsindia's data privacy policies a bit too lax for my liking
Let me go chronologically backwards :
1. They have stopped showing Annualized returns for funds held for less than a year. If you have (Ultra) Short term Debt funds, and you manually do SIP every month, you would like you see how have your investments done on a annualized basis when making new investments.
2. If you are opening accounts for your family members, they insist all family members are included in a single account. Sometimes, you would want a separate account. You cannot hold more than account in Fundsindia under a single PAN. After all, I do have both individual and joint bank accounts. You cant do that at FundsIndia.
3. I tend to find the CS team at Fundsindia a bit more clueless than Fundsupersmart.
4. In case of one of my family member's account, it took Fundsindia more than 2 months to activate the account.
5. I find Fundsindia's data privacy policies a bit too lax for my liking
Just so that I dont seem to be biased against FundsIndia, here is what is painful for Fundsupersmart.
1. Funds transfer is via NETBANKING only. You cannot transfer funds via NEFT or RTGS. So if you were purchasing a fund for say Rs. 2 lakhs, but your netbanking limit is 1 lakh, you cannot do that.
2. You cannot use some of the banks to fund liquid funds. Say you only have 2 bank accounts - one with PNB and the other with UCO. Since you cannot buy Liquid Funds from either of these banks from Fundsupersmart, you cannot invest in liquid funds till you open a new bank account from one of the allowed banks.
This is one place where FundsIndia excels. Since they accept funds via NEFT/RTGS, you can use any bank u have without opening a new bank account.
1. Funds transfer is via NETBANKING only. You cannot transfer funds via NEFT or RTGS. So if you were purchasing a fund for say Rs. 2 lakhs, but your netbanking limit is 1 lakh, you cannot do that.
2. You cannot use some of the banks to fund liquid funds. Say you only have 2 bank accounts - one with PNB and the other with UCO. Since you cannot buy Liquid Funds from either of these banks from Fundsupersmart, you cannot invest in liquid funds till you open a new bank account from one of the allowed banks.
This is one place where FundsIndia excels. Since they accept funds via NEFT/RTGS, you can use any bank u have without opening a new bank account.
Agree with your insights.. Also came through this post where one more concern is being pointed out: "Why I am moving from FundsIndia to FundSupermart"
Hi Srikanth,
I like the user interface of FundsIndia.com and I also appreciate the excellent advice. And for a personal account it was quite easy. But now I want to add my HUF account for investing. And I have been struggling with your customer care for more than 6 weeks for that. They were just not sure what documents they need.
I am now stuck with nominee's signature. The nominee happens to be my wife. And it so happens she left for Assam a few day ago. If they would have told me they need nominee's signature, and sent the form on time, I would have been investing now. So now there is a delay of another month, or I have to courier the document to Assam, where she signs it, and couriers it back to me and all those hassles, just because your team couldn't figure out what document they needed on time.
And I am not even going to talk about the opportunities lost in these last six weeks, but I just feel that the customer care should be technically stronger. I am a customer and uninitiated with the documents required to open an HUF account. They should help me with it. And the documents have been going back and forth since six weeks.
This is definitely a one off case, I am sure. Afterall how many people are out there who require to associate their HUF account to their existing account, perhaps below 1%. And I am sure fundsindia is great otherwise, but I am just dissatisfied and am seriously considering redeeming all my existing funds and closing the account.
I did like fundsindia. I hope your service improves for the benefit of other customers.
I like the user interface of FundsIndia.com and I also appreciate the excellent advice. And for a personal account it was quite easy. But now I want to add my HUF account for investing. And I have been struggling with your customer care for more than 6 weeks for that. They were just not sure what documents they need.
I am now stuck with nominee's signature. The nominee happens to be my wife. And it so happens she left for Assam a few day ago. If they would have told me they need nominee's signature, and sent the form on time, I would have been investing now. So now there is a delay of another month, or I have to courier the document to Assam, where she signs it, and couriers it back to me and all those hassles, just because your team couldn't figure out what document they needed on time.
And I am not even going to talk about the opportunities lost in these last six weeks, but I just feel that the customer care should be technically stronger. I am a customer and uninitiated with the documents required to open an HUF account. They should help me with it. And the documents have been going back and forth since six weeks.
This is definitely a one off case, I am sure. Afterall how many people are out there who require to associate their HUF account to their existing account, perhaps below 1%. And I am sure fundsindia is great otherwise, but I am just dissatisfied and am seriously considering redeeming all my existing funds and closing the account.
I did like fundsindia. I hope your service improves for the benefit of other customers.
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