Customer Experiences of FundsIndia

[devx101]

I am posting it here as it comes more under shopping category than others....

Does anyone have a account in this FundsIndia mutual fund selling site?
I am thinking of migrating to this mode as too much of paperwork and headache is required for multiple investments nowadays.
As this involves serious money its better to have some knowledge...

Anyone has any experience with it or similar competitor's....

https://www.fundsindia.com/

 

[ashish]

i haven't used the website per se,but heard positive reviews abt it. one more option is you can directly invest from the mutual fund co's website

 

[devx101]

i haven't used the website per se,but heard positive reviews abt it. one more option is you can directly invest from the mutual fund co's website

yeah but again for the first folio physical docs are needed for every fund house and this adds to woes. SIP's again need extra paperwork...

 

[amitnsonu]

I will prefer physical work in such type of investment.any shortcut may lead you in serious trouble.do spare sometime and go directly to the fund house.

 

[ashish]

yeah but again for the first folio physical docs are needed for every fund house and this adds to woes. SIP's again need extra paperwork...------------------------------------------------------------------------------------------------------------------------------------------if you have registered for the kyc norms with the cdsl,it will save a lot of paperwork and hassle,as you will be kyc complaint across the fundhouses.otherwise fundsindia is pretty safe and hasslefree with one-time submission of documents. ultimately your investments will be as secure as the investments in a demat a/c,coz fundsindia is acting like an agent(and free too) and all your money will go into the respective fund houses

 

[devx101]

I will prefer physical work in such type of investment.
any shortcut may lead you in serious trouble.
do spare sometime and go directly to the fund house.

that the obvious thing which comes to everyone's mind. But If a facility comes with full proof system why not use it.
Moreover in the next subsequent investments by paper i and most would use the edocs option in the schemes. It is the same odd crap statement sent by snail mail.

 

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[devx101]

if you have registered for the kyc norms with the cdsl,it will save a lot of paperwork and hassle,as you will be kyc complaint across the fundhouses.

otherwise fundsindia is pretty safe and hasslefree with one-time submission of documents. ultimately your investments will be as secure as the investments in a demat a/c,coz fundsindia is acting like an agent(and free too) and all your money will go into the respective fund houses

looks like i can give it a try but would have to activate net banking first in my accn...:tongue_smilie:

anyone else with any experience???👽

 

[q12345rt]

I have a account with them for past 10 months and have 2 sips running. Also, I have online trading account (they partner with Emkay). They were prompt in replying to queries and I am happy. Advantage with them is you can have sip on any day. Purchase is done after T +2 days. You can pause the SIP also.

 

[almon]

I too have account with them. These guys are providing good service. Wihout any doubt I recommend it to you. Just go with them.

 

[devx101]

^^ ok i have one question....In fundsindia they act like brokers and act as a link..... but i want to know that if i transact through the web/funds india site will i be able to operate as a normal folio subscriber through mutual fund house offices too? will i be eligible for internet pin based services from the fund houses? or can i directly demand/print accn. statments from individual mutual fund websites?

 

[q12345rt]

I don't know if you are eligible for online services from Fund houses. You can verify your transaction from CAMS website (account statement) directly. I think you can directly deal with Fund houses with this folio. If you want to register SIP for 5 th date, from fundindia set the date as 3 rd. On 3rd, bank account is debited and on 5 th actual MF is purchased(If all the days in between are working days).

 

[devx101]

I don't know if you are eligible for online services from Fund houses. You can verify your transaction from CAMS website (account statement) directly. I think you can directly deal with Fund houses with this folio. If you want to register SIP for 5 th date, from fundindia set the date as 3 rd. On 3rd, bank account is debited and on 5 th actual MF is purchased(If all the days in between are working days).

this was their reply to same question

""Yes, the folio number of the investments will be transparently visible to you.

However, a mutual fund folio can be held/transacted online through only one channel at a time. That is, if you have an online folio at FundsIndia, you cannot have the same folio online at the AMC’s website nor can you apply for a IPIN for it. But you can quote the folio number to the AMC in all your communications with them and apply for redemption offline as well.""

 

[Ashish Chandak]

Do not invest via fundsindia, they do mistakes while submitting the forms and then would not help you in getting it resolved, they would tell you directly to contact the issuer, as they get so many requests online and they need to fill the forms they do it in hurry.
its our hard earned money, for them its just a matter of their commission. I am really sad and un happy with their service.
For me they did three mistakes while filling the IDFC infra bonds and now I am not sure how to rectify that, they invested in scheme which I do not wanted to do.


Ashish

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Do not invest via fundsindia, they do mistakes while submitting the forms and then would not help you in getting it resolved, they would tell you directly to contact the issuer, as they get so many requests online and they need to fill the forms they do it in hurry.
its our hard earned money, for them its just a matter of their commission. I am really sad and un happy with their service.
For me they did three mistakes while filling the IDFC infra bonds and now I am not sure how to rectify that, they invested in scheme which I do not wanted to do.

I would personally suggest take care of your investment your self it might take some time to fill the forms and but its worth at the end of day, instead of investing in 10 funds one can invest in 2-3 funds so that mgmt is easy and controllable as due to certain extent diversificaion is good but not too much.


Ashish

 

[amitnsonu]

why to involve 3rd person in ur financial transaction, when u can do it directly with fund house.I am having sip in hdfc, SBI, IDFC funds, but I only opened account by going to their office.you need to go only once to register the sip, after that u can ask for online user name /password and buy/sell units from there manually.again if u want to stop or start another sip just download the form and courier them.

 

[Ashish Chandak]

Yes, that is true, I just did it once for checking whether it would be convenient or not..but now i wud follow ur advice only 🙂