FundsIndia Review 2020: Detailed Unbiased Review | Cash Overflow

21 min


Cash Overflow


FundsIndia is an online investment platform that helps you invest in mutual funds and other investment assets like equities and corporate fixed deposits. 

You can invest, track and redeem any mutual fund investments as per your convenience using a single FundsIndia account for free without involving agents.

You can create an account on the FundsIndia platform, select a mutual fund from their list of top 50 funds and click on apply to invest without any physical paperwork.

FundsIndia offers 

Investment and trading in sharesInvestment in mutual fundsInvestment in corporate fixed depositsSuper savings accounts 

FundsIndia is a digital interface of Wealth India Financial Services Pvt. Ltd. with over 18 lakh customers and Rs. 6,500 crore of assets under management.

How FundsIndia Works

FundsIndia is an online platform that helps you manage your financial investments. 

The working of FundsIndia revolves around a combination of 

An online investment platformProviding a list of top-performing mutual funds  Expert financial advisorsEquity investment and trading

#1. FundsIndia Investment Platform

FundsIndia offers a web-based and mobile app-based platform where you can invest, track, manage and redeem your investments. Both platforms are accessible on any device that has an internet connection. 

The web-based platform is available at fundsindia.com and the app can be downloaded from the Google Play or Apple store. 

FundsIndia App

You need to “open an account” with FundsIndia to use the online investment platform. 

#2. Providing List of Top Mutual Funds

FundsIndia shows the top 50 mutual fund schemes (fund type-wise) based on the risk capacity.

For example, under equity funds it suggests Axis Bluechip fund for moderate risk investors and Aditya Birla SL Equity fund for high-risk investors.

FundsIndia suggests schemes for debt funds, theme funds, hybrid and tax savings funds for low risk, moderate risk and high-risk investors.

But, ultimately, it is up to you to decide which mutual fund suits your investment plan and strategy.  

#3. Expert Advisory

FundsIndia offers high-value advisory services. The platform gives you access to their in-house personal advisors and their Robo advisors also. 

You can use FundsIndia advisory service to select a suitable mutual fund scheme and to build a portfolio. 

#4. Equity Investment and Trading

FundsIndia is a full-service stockbroker with a percentage-based brokerage model.  But, the activity is limited to stock investing and intraday trading. You cannot invest or trade in F&O, commodities and currency.

Where You Can Invest Through FundsIndia

#1. Mutual Funds

FundsIndia provides you the list of the top 50 mutual fund schemes selected by the in-house experts for investment.

The list of funds is based on the risk-taking capacity of individual investors, in categories like low, moderate and high-risk capacity. The selected mutual funds are categorized under the fund types.

For example under equity funds 

FundsIndia suggests Axis Bluechip fund for moderate risk investors and Aditya Birla SL Equity fund for high-risk investors.

Under tax-saving funds 

You have Axis long-term equity fund for moderate-risk and Tata India Tax Savings fund for high-risk investors.

Under hybrid  funds 

You have an HDFC Hybrid Equity fund for moderate-risk and ICICI Pru Balanced Advantage fund for high-risk investors.

If you want to make your own selection then you have the option to search from over 5000 mutual fund schemes.

#2. Equities

You can invest in stocks to build a small portfolio of Rs. 2 to 3 Lakhs using FundsIndia platform. 

But, the equity services offered by FundsIndia is limited to investing and trading in shares (delivery & intraday). FundsIndia does not offer trading in the currency and commodities segment.

#3. Corporate Fixed Deposit

You can invest in corporate fixed deposits (FD) using the FundsIndia platform. The platform offers you corporate fixed deposits of HDFC FD, ICICI Home Finance FD, Sundaram Home  Finance FD, Bajaj Finance FD and several others.

FundsIndia makes sure that the corporate FDs have ratings from agencies like CRISIL, CARE & ICRA to ensure that investors get better returns with desired safety.

You also have the flexibility to choose the FD investment amount, tenure and maturity periods. 

#4. Super Savings Account

FundsIndia Super Savings Account

A Super Savings Account helps you manage idle cash by investing in a liquid mutual fund scheme. 

The Super Savings Account comes with operational features that are similar to the normal savings bank account. 

Super savings account invests in Reliance Liquid Fund. The account helps you save, earn interest and withdraw funds like a traditional bank debit card.  

When you invest in a liquid fund you will get a higher return (4.5% to 6.5%) as compared to the traditional savings bank account that offers only 3% to 3.5% interest. 

But, you will not be able to avail tax benefit of Rs. 10,000, which is otherwise available on interest earnings of a regular savings bank accounts.

You can open the super savings account with an initial deposit of Rs. 1000. But, the maximum instant withdrawal amount is capped at Rs. 50,000 or 90% value of the investments whichever is lower.

Benefits Of Investing Through FundsIndia

#1. Single Platform to Manage All Investments

You can invest, track and manage all your financial investments (mutual funds, shares and corporate FD) from a single FundsIndia account.

This is helpful for busy office going persons who do not find enough time to manage their investments on multiple platforms.

You can open an account, invest, transfer funds, redeem and withdraw funds online from your smartphone from the comfort of your home.

#2. Personalized and Robo Advisory

FundsIndia has both in-house dedicated experts and Robo advisor “Money Mitr” who offer personalized fund selection and help in building a portfolio. 

You can take the help of advisors to select and review your investments and make informed decisions.  

#3. Invest and Trade in Equities

FundsIndia platform offers investing and intraday trading in equities which is not available with other online investment platforms. 

The FundsIndia equity trading platform allows you to buy shares, do Buy Today Sell Tomorrow (BTST) trade and intraday trading in stocks.

#4. Family-friendly Investment

FundsIndia platform helps you to manage the investments of your entire family from a single account. You do not need to open a separate account for every member.  

You can add members to your existing login ID, open minor accounts for your kids and make joint investments.

The family-friendly option helps you to track and manage different financial investments of all your family members.

FundsIndia Charges

FundsIndia charges zero fees for mutual fund investments. You do not need to pay any money for account opening, transaction, or maintenance fees. The advisory services are also free of cost.

However, for investment in equities you need to pay the brokerage charges and AMC charges as under:

ParticularsFees/ ChargesDemat & Trading Account openingRs. 0Annual Maintenance ChargesFirst-year – Free
Second Year Onwards – Rs. 400BrokerageDelivery trade – 0.30%
Intraday Trading – 0.03%

How To Invest Through FundsIndia in India

#1. Signup To Create FundsIndia Account

Download the FundsIndia App from the Google Play Store or Apple store. When you click on the app you will be prompted to sign up/ login.

FundsIndia prompt to sign up/ login

New users need to create a FundsIndia account to start their investment journey using the platform. 

You have to provide personal details like your name, e-mail address, password and mobile number, as shown below, to create an account. 

FundsIndia - provide personal details to create an account

Click on the “Sign Up” tab to create a new account.

#2. Select Mutual Fund Investment Option

Next, you need to fill in the PAN details, date of birth and residential status. To invest select the mutual fund option and click the “Proceed” tab at the bottom of the screen.

FundsIndia - Select Mutual Fund Investment Option

#3. Select The Mutual Fund Scheme

Now you will get a list of top 50 mutual fund schemes selected by FundsIndia in house experts. You have the option to select one on the schemes. 

Or you have the option to search a scheme from over 5000 mutual fund schemes.

Select The Mutual Fund Scheme

When you select one of the mutual fund schemes, the app will show all the schemes details, risk level, returns and performance details. 

Click on the “Proceed to invest” tab at the bottom of the screen to invest in the selected fund.

FundsIndia - select one of the mutual fund schemes

#4. Choose Investment Option

Choose one of the options between the Systematic Investment Plan (SIP) and the one-time lump-sum investment method for investing in a mutual fund scheme.

SIP is a better option for salaried people as one gets the option to invest a fixed amount of money at regular intervals. The SIP can be as small as Rs. 500 per month.

FundsIndia - Choose Investment Option

However, the minimum SIP investment amount via FundsIndia is Rs. 1000. 

You have to provide the SIP investment amount, SIP date and the SIP duration and then click on the “Confirm Investment” tab to proceed ahead.

#5. Additional Information

New investors need to provide additional information like annual income and nationality details.

FundsIndia - Additional Information

You also need to provide the nominee details like name, relationship and date of birth of the nominee.

FundsIndia Nominee details

#6. Link Bank Account And Make Payment

You need to link your bank account details to complete the investment process. The linked bank account will be used to make payments and receive the investment proceeds. 

Provide IFSC code and your bank account number to link the account with your FundsIndia account.

FundsIndia - Link Bank Account

Finally, click on the “Continue to Approve” tab for approving the payment to invest in a mutual fund scheme.

FundsIndia - Approve payment

#7. Submitting the Mandate

For monthly SIP payments, you need to give FundsIndia the payment mandate. This can be done by downloading the mandate form, filling the application, signing and sending it to the FundsIndia office.

Or you have the option to sign the physical mandate form arranged by FundsIndia. 

FundsIndia- Submitting the Mandate

What Could Have Been Better

#1. App Crashing Problem 

There are some negative reviews on the app store, complaining about the FundsIndia app glitch. An improved app will be helpful for investors to execute transactions smoothly. 

#2. UX Needs Improvisation 

There is negative feedback regarding user experience, confusing dashboard, holdings, positions and difficulty in using the FundsIndia app. 

FundsIndia - UX Needs Improvisation

A better UX friendly app with good useability will enhance user experience making the app more friendly with smoother navigation.

#3. Brokerage Charges

FundsIndia levy commission-based brokerage charges of 0.30% for delivery and 0.03% for intraday trades. This is very high when you invest or trade in large volumes. 

Changing the brokerage structure to a discount model would have been better suited to the common investors.

#4. No Fund Selection & No Direct Funds

FundsIndia does not suggest one or two funds based on your specific investment goals. You get a list of top 50 mutual funds from which you need to figure out the scheme in which you want to invest. 

FundsIndia offers investment in regular mutual funds only.

Regular mutual fund schemes have slightly lower returns because they deduct the commission which is then paid to the investment platforms.

For DIY investors, FundsIndia can provide an option to invest in direct mutual fund schemes. 

FundsIndia vs Scripbox

ParticularsFundsIndiaScripboxCan Invest inMutual funds (Regular)
Equities
Corporate Fixed Deposit
Super Savings AccountMutual funds (Regular)Investors assets under managementRs. 6,500 CroreRs. 1,500 CroresAccount OpeningFreeFreeAMC ChargesFor demat & trading account only: 
First-year – Free
Second Year Onwards – Rs. 400

For investment in mutual funds, there are no AMC charges

NilBased inChennaiBengaluruFinancial Advisory Yes, both Robo & Traditional Investment advisorAI-based mutual fund scheme selection.

But no a one to one in-person advisory services

Fund suggestionBased on the risk profile Based on the individual  goalsFamily AccountYesYesPlatformWeb and app-basedWeb and  app-basedInvestor EducationThrough blog articles & FAQsThrough blog articles & FAQsCustomer SupportPhone, e-mail, chat and SkypePhone, e-mail and WhatsappToolsFunds Explorer
SIP CalculatorTax Savings CalculatorSIP Calculator
ELSS Calculator
Lumpsum Calculator
FD/ RD Calculator
NPS Calculator
EMI Calculator
Income Tax Calculator
PPF CalculatorRegistered with SEBI for stockbroking

AMFI for Mutual Fund distribution

AMFI for Mutual Fund distribution

Final Words

FundsIndia is better suited for new generation investors who want to invest in mutual funds, shares and corporate fixed deposits online but do not have the time to look after them.

FundsIndia online platform helps time-constrained people to invest, track and manage financial investments from a single account.

You can also do intraday trading in shares from the platform and have access to personalized & Robo advisory services for your mutual fund investment needs.  



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