November 13, 2013 2:02 pm
Is there any bank accounts/investment account that allows buying MFs online for free, without any charges.
You can check with Birla Sun Life Mutual Fund if they offer you Mutual funds without charges. They have pretty decent and beneficial plans. – http://mutualfund.birlasunlife.com/Pages/Individual/Home.aspx
Dear Rekha, for the given query, you can do it through fundsindia. Please do remeber that you can invest only in Regular plans and not in Direct plans through fundsindia.
Most of the banks would charge either for transactions you made or for maintaining MF account. If you directly deal with fund houses then you can invest online with out any charges.
1. Identify the fund house you want to deal with
2. Get the Folio number for your transaction
3. Using Folio number, register with the fund house site to make further transactions on line with out any charges.
Please NOTE that, here you can only purchase or sell the MFs maintained by that fund house only. It will not allow you to deal with other fund house MFs, if you want you may need to follow the same process to invest on line, at some point of time it would be difficult for you to track all the MF port folios with may fund houses, you are the one how has to take a call on this.
On the other hand if you have account in any bank then you can purchase what ever MF you want irrespective of fund house. The flexibility you have here is that you can have the consolidated list of all your MFs in one place.
Hope you are talking about charges like transaction fee, account opening and account maintenance fees etc. – If yes then FundsIndia services are free, you will be able to invest in mutual funds from all mutual fund houses with no charges mentioned above.
But there you will be investing in regular plan.
And if you go direct to the fund houses, there you can invest in direct plan mutual funds of that AMC.
Thank you. But I’d like to know if any banking account assists in managing funds online without any charges.
If you purchase with any fund houses directly, they don’t charge for direct funds.
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