POSTED BY October 17, 2012 9:26 pm COMMENTS (5)ON
I have a silly question for you. I see that, either you or other blogger recommend fundsindia.com because of zero fee, commission etc. Even i read few reviews, its all good.
What if i buy MF through fundsindia.com and site/product is unavailable in future? How do i redeem my funds?
2021 © Jagoinvestor.com All Right Reserved
5 replies on this article “Funds india”
Dear Sarav, in case of investments, done thru fundsindia, one is also getting PDF acct. statements as well as physical statements. In case in future fundsindia shuts down & you want to redeem your units, just download the redemption form from the respective AMC site, fill in all the details & submit it to either AMC local office or their RTA (CAMS or Karvy).
Thanks BS. You mean, one should approach the bank with the relevant docs right?
Just like you buy from an agent physically , fundsindia is same. You have the mutual fund in your name, you have got everything . When agent is not present, what do you do ? Just redeem it directly from the AMC or via CAMS , the same way you can redeem it even if you bought from FundsIndia. Note that funds india is not different from any other agent . Just that its online .
Yes, one inconvenience you will have is , you will not be able to do it online because the site will not be available incase fundsindia website is down, however there is no risk on the mutual funds redemption side.
Here is the detailed article on the redeemption part – https://www.jagoinvestor.com/2011/09/mutual-funds-redeemption-process.html
Yes address proof and pan card copy is only required.
You will get all the relevant documents and mail from the actual AMC (HDFC, ICICI, UTI, etc.) so incase Funds India close down you can directly contact the AMC. I think Manish wronte one article long back on this. So no need to worry.