POSTED BY May 10, 2011 4:06 pm COMMENTS (11)
ONI recently came across this invest@ease from ICICI bank which provide Mutual Funds purchase and online transactions.
http://icicibank.com/Personal-Banking/investments/mutual-funds/mutual-funds-online.html
At the outset it seems like fundsindia.com; And hence no charges for SIPs and it does not involve demat.
Anyone has some more information on this? Is it advisable to go through this route for my fund investments?
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I checked and invest@ease dont offer direct plans but only regular plans which are expensive. Whereas fundsIndia offer both the plans.
Just an update. Registered through fundsindia. Totally hassle free setup. I applied to both Invest@ease and funds india at the same time. Funds India was up and running in 2 days flat. Still to hear from icici.
You guys now know where my SIP goes 🙂
can you send me the link where I can know the charges applicable on lumsum or sip investment in case of
icici banks’s invest@ease.
I am not able to find it on net.
I suggest talk to ICICI Customer care on this .
Don’t pay a single paisa as brokerage. Go direct to mutual fund AMC or fundsindia. The paperwork with fundsindia is a one time activity.
Be ready for addition of yearly maintenance charges next year onwards. Remember that they reserve the right to revise the fee structure.
Anand,
I checked out the T&C’s in fundsindia. Even they reserve the right to revise the fee.
” While, currently, all mutual fund related transactions done using the FundsIndia platform are free of transaction charges, WIFS reserves
the right to change the fee schedule in future. ”
So I guess, best is to be safe go directly to the AMC only if that’s a point of concern.
@shreyas
Instead going through all this troubles and hoping for the best, why dont you go for the fundsindia platform itself? any specific preferrence??
Regards
Jagadees
Just because of the fact that I’m an ICICI customer and going for this option will simplify things for me as it is linked directly to account etc. No need of additional paperwork and no need to open a new account with Fundsindia.
Hi Ramesh,
Thanks for the reply. In case of lumpsums, can we do it directly with the fund house to avoid those charges – Anyway I presume ICICI will provide a folio number for the same.
So, can we do the following:
1. Register with them and start SIPs.
2. If you have lumpsum to invest, just go to the fund house quote the folio number and invest thereby avoiding the 200 Rs or 1% charge.
This should be fine right?
I hope I don’t run into trouble in future 🙂
The charges have been explained on this page.
http://icicibank.com/Personal-Banking/investments/mutual-funds/disclosure.html
1. They charge Rs 200/ 1% of investment on lumpsums and STP into equity funds.
2. While, there are no charges in SIPs in equity funds, and investments in hybrid / debt funds.
Will have to look which fund houses are supported.
Overall, it is not a bad option.
The Charges have been removed effective August 2011 , Now a transaction fee may be charged which is a one time fee of rs 100 or rs 150 which is taken by every broker , sub- broker or a bank.That is The Fee that has been negotiated by the various asset management companies with SEBI.
So go ahead and use Invest@Ease its easy and its very easy to track, redeem and switch your Investments.