what is a folio number?

POSTED BY srivatsan ganesh ON December 22, 2010 11:42 am COMMENTS (4)

if i want to open account with three different amc say hdfc,dspbr,reliance then how many folio numbers will i get? what if i invest through fundsindia site?

my third question : which is better fundsindia or amc’s?

4 replies on this article “what is a folio number?”

  1. Anil says:

    Srivatsan,

    I would recommend to go with fundsindia (assuming your banker is covered by fundsindia) rather than individual AMCs because of ease of use such as

    1. Single login / password than having different id/password for every AMC

    2. Activities such as KYC, multiple bank registration, nominee etc., needs to be done just once with fundsindia rather than doing it repeatedly with individual AMCs

    3. Single website to track all your MFs than tracking it individually on every AMC website. Even if you use moneycontrol.com type of websites, you still have to manually enter details every time you transact

    Only disadvantage I see for now is that fundsindia is not tied up with all bankers and AMCs. But then…. so what.
    – If your banker is not tied with fundsindia, chances of them tied up AMC is also low as fundsindia cover all major bankers.
    – if any AMC is not tied up with fundsindia now, that alone you can transact directly until fundaindia can tie up with them.

  2. srivatsan

    FundsIndia is just like a physical agent which comes to your home and helps you in investing in MF , they are just online . there is no difference

    Manish

  3. bharat shah says:

    for your 3rd question, i think, if your banker is one of designated banks of fundsindia, it would be beneficial to have your account with fundsindia, as they offer investment in specific equity shares, company fds and nps in addition to mutual fund. but your banker is different , your transaction would not be seamless i.e. it would be routed through their bank account with icici bank. it may result some time lag also.

  4. jitendra solanki says:

    Srivatsan,

    You will be alloted three different folios.One folio with each AMCs.

    Through whom you invest does not matter.

    Jitendra

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