FundsIndia.com is a online investment platform where once you open an account you can trade in 41 Mutual funds, equities, corporate deposits, bonds, the National Pension System (NPS), loans, insurance, 24 Karat gold and various other investment products in one convenient online location. FundsIndia also offers a host of beneficial value-added services like Alert SIP, Flexi SIP, trigger-based investing, and a lot more. The service they provide is similar to what a full service brokers would provide but they also have a free advisory service for all clients specializing in mutual funds.
Depending on an individual’s financial needs, there mutual fund and equity experts offer objective and unbiased advice to help achieve goals. Investors can also sign up for FundsIndia Smart Solutions – an active mutual fund portfolio service that offers comprehensive financial planning and expert-designed investment portfolios for important life events.
Through FundsIndia’s secure online investment environment, investors can choose from top-performing mutual funds with high NAVs offered by 41 leading mutual fund companies in India, get access to stocks and equities offered at the BSE, and invest in tax-saving ELSS funds and Gold ETFs.
The account opening with them is really simple. You have to provide some information online and once you have given all the information you have to send some documentation to them which includes
Application form: The simple FundsIndia account opening application form that contains an investor’s details such as name, address, PAN number, nominee details etc. This comes along with a terms and conditions document and they both (the application form and terms document) need to be signed.
1) PAN Card copy: A self-attested PAN card copy is required to verify the PAN number specified in the application form. All investments are tagged by this PAN and hence, we need to verify the name on the PAN card is the same as the name of the account owner.
2) Cancelled Bank cheque leaf: A bank cheque leaf contains all the information about the bank account of the investor. All the investments by the investor are linked to their registered bank account, and withdrawals are directly credited to this account as well. Hence, it is absolutely important that we are sure that we have the correct information in this regard. The best way to verify this is with a cancelled bank cheque leaf.
3) KYC application form: Application to register with the KYC service providers. Requires a passport size photograph (cross-signed)
Address proof: Copy of a government issued address proof (bank statement, passport copy, ration card, drivers license, electricity bill, voters id, UID etc).
PAN card copy: All KYC registrations are done on the basis of one’s PAN. So, a proof of PAN card also needs to be submitted.
There is no cost associated with buying in selling the mutual fund with them. They take the commission from the mutual funds house directly by becoming your agent in the transaction. But that is a small price to pay for the services that they provide.
Should you open an account
If you are a investor who want to invest primarily in mutual funds and that too in different funds, opening an account with them makes complete sense. If you want to directly make investment in various funds, you have to do a KYC at each firm separately which involve visiting multiple braches. Also managing your portfolio is also simple as you can see on one screen how you complete mutual fund portfolio is doing. If you invest with multiple mutual fund house, checking various NAV and calculating the portfolio value is difficult. But do remember that if you invest in mutual funds with them, you would not be buying the DIRECT mutual fund. In other terms, there is a agent in between. There is a small difference between the return of Regular and Direct mutual funds but that is the price which you should be ready to pay for availing the services offered by them