POSTED BY Udit ON November 5, 2012 3:32 pm COMMENTS (18)

Hello Fellow Investors,

I wanted to start a SIP and discovered that gives an online platform to do so. However I have the following concerns: 

1. Is my investment through fundsindia secure? 

2. How is investing through fundsindia different from taking an an online SIP from say ICICI Direct or Axis Bank? 

3. If for some reason fundsindia shuts down in the future, what will happen to my investment? 

4. Does fundsindia charge any brokerage for my transactions. if not how do they earn money?

Can any one answer the above queries?

18 replies on this article “ review”

  1. Raj Kumar says:

    Dear friends ,
    I have invested in MF at SBI securities & BSL directly. Suggest me, that it will be better if can bring my investments at fundsindia?

  2. Amanpreet Singh says:

    I had submitted documents for account opening on 26th of February and it has been 18th March and they still haven’t opened my account. It makes me wonder if they cant even open account in time then how will they be able to handle other people’s finances.

  3. Sagar says:

    Was trying to work out with ICICI direct and fundsinda. I thought creating account with ICICI will be simple and with all the supporting documents i reached ICICI bank(erandwane branch, pune). It was a shock reaching bank, as no-one was aware of how investment@ease works. Then i was taken to branch manager, he then started suggesting me ULIP to purchase. After a hour of discussion(wasting my time), i requested him please help me to activate my account and have already done analysis on ULIP. Then my case taken to next counter{from where my 1st discussion had started} where again lady said opening account with ICICI will not be flexible you will have to decide amount and SIP which cannot be changed.

    With all of these surprises and hidden charges, i will suggest to go with fundsindia.

    1. Thanks for sharing that Sagar

  4. Sarav says:

    I have an account with Funds india. There are two stories BEFORE and AFTER opening account or investing.
    Before opening an account : People over there chase you, follow up, guide you, treat you like business class customer.

    AFTER making one investment: You need to chase them, ask them advise. Even if you compliant on their service. They say, instead of complaining, call the advisor. What a customer service?
    They don’t explain you why r they advising the fund, how it was performing before and current state and likely prediction… no justification at all. They simply say, this fund is good… that’s all. This is not financial advisory.
    May be others would have got good experience with Fundsindia, it my first bad experience with my first investment in FI.

    1. Shireesh says:

      I completely agree with your comment on the servicing aspect. During the initial days, I find fundsindia is really interesting and I was merely had an idea that I should keep all my MF investments under one broker with good online facility. During these days, their focus has shifted to more revenue generation products like equity and others. I have submitted requests for transfer of units from broker X to fundsindia long back, trust me it’s been months, there is no response from the support team. They always says that we are following up, we shall inform you etc. There are lot of schemes from the same fund house under one folio, one shows online, one fund shows offline and another fund says letter submitted to AMC. Such a crazy people with nasty processes. I am realizing it now, that I should not have approached Funds India.

      1. Thanks for sharing that ! ..

  5. ashalanshu says:

    Dear Sherry, through fundsindia, you can only purchase regular plan. For direct plan, you need to contact respective AMCs.



  6. Sherry says:

    kindly have a look on this link
    and tell me does fundsindia works like a broker as they also working on atleast on some kind of commission.(trailing as they say). So as per new rules of SEBI,does investment through FundsIndia, will I be able to take direct plans or regular plan?

  7. Dear Udit & Dear Finnaive, I’m using for my own money. It’s a secure platform. I’m also getting mails (both electronic as well as physical) from respective AMCs so I can cross check the holdings easily.

    I w’d definitely recommend it to you & everybody. Yes it does not qualify for the direct way from 1st jan 2013, so please make note of this. You ‘ll not get the benefit of direct investing & you ‘ll not be able to save on Trail commission to increase your own return.



    1. frozen says:

      What is the benefit of direct investing?

  8. finnaive says:

    dear all
    even I am reviewing for all-in-one account for MFs/Equities/ETFs etc etc
    has anyone been using their services?? any feedback/comments


  9. TheZionView says:

    @ Biswa Singh

    No Fundsindia is not Direct its the agent for people who are buying the MF through them. The AMC will pay the trail commision to them which is their main source of income.

    As per the new guidelines you will get funds with less expense ratio when you go direct way(ie open the account with AMC directly). Hence fundsindia will be expensive that way.

    But until the new schemes are in place you cannot know what is going to happen.

    I will switch out of Fundsindia if the Direct scheme of MF is 0.5% less than the agent route. If its less than 0.25% i will stay with fundsindia as i get to manage things more easily.

  10. bharat shah says:

    but they are getting trailing commission from mutual fund amcs, and thus costing amcs , so as per new guidelines , one should better know.

  11. Biswa Singh says:

    i think its direct as they did not charge anything when i started my MF there.

  12. bharat shah says:

    though i do not have any thing against, i like to draw attention for the new aspirants to confirm whether through , the investment would be considered DIRECT or otherwise after 01-01-2013

  13. Rosh says:

    Dear Udit,

    Fundsindia is a very gud online platform to invest in MF for free. they have a very gud customer service as well. They made investing in MF very simple with different AMC’s. Its secure, i’m using FI since long time now.



  14. Firoz Ahmed says:

    I have been using fundsindia for over 1 and half years now. I must say i am satisfied with their work.

    1. Completely secure. In addition to fundsindia mail, you also get confirmation mail from the AMC regarding the transaction

    2. Using fundsindia, you can transact with different AMCs on a single platform.

    3. Investments are made in your name. You can check periodically with the amc and cams/karvy . so even if they shut down, your investments remain with the respective amc.

    4. No brokerage for mutual fun d. They get the trail commision.

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