Hi friends I am sharing my personal experience with Fundsindia.com by this article ‘FundsIndia review’.
My first mutual fund investment was through FundsIndia.com
I was searching for a systematic investment Plans (SIP) in mutual funds to save tax and to earn maximum return with moderate risk.
So basically FundsIndia is an online investment Plateform through which you can invest and redeem your investment.
It also deals with Gold Investment Plans & Fixed deposits of companies.
You can open the account with FundsIndia free of cost.
It provides the various mutual funds options to choose from, with historical performance analysis.
You can purchase mutual fund units online without any paper work and redeem them at your will.
You can always have a watch of over your portfolio since it is online.
It shows tabular information of all purchase, redeem (sale) and increase/decrease in value details of your investments.
The best thing is FundsIndia does not charge any amount from you.
The customer care services are excellent and It also provides a relationship manager who provides all details of investments and help you choose right plan.
How to open account with FundsIndia?
FundsIndia has an easy signup process.
Since mutualfunds are regulated by IRDA, Fundindia collects basic documents of address, ID & bank account proof.
You need not to go anywhere, a person will come and collect all these documents with the application form.
There is no fee charged by FundsIndia for all these formalities.
What are the investment options provided by FundsIndia?
Mutual Funds are divided into various types so that you can choose from them based on risk involved.
- Moderate Risk
- High Risk
Hybrid Equity Oriented Funds
- Moderate Risk
- Low Risk
- Hybrid Debt Oriented Funds
- Debt Funds -6 months to 1-year holding
- Debt Funds 1-2 Years
- Debt Funds – Long Term
Tax -Saving Funds
- Moderate Risk
- High Risk
Fixed Deposit of Companies
We always believe that investment in fixed deposit of banks is best option for investment since it is risk free and give high return.
Similarly the fundsIndia have selected the top rated companies where you can invest in their Fixed Deposit, which provides high interest income even better than fixed deposit in Banks.
Check the following table, it provides the rating given by various credit rating agencies and the interest rate on Fixed Deposit.
|Mahindra and Mahindra Financial Services Ltd **||N/A||FAAA||N/A||N/A||8.45%||8.45%||8.45%|
|National Housing Bank **||N/A||FAAA||TAAA||N/A||N/A||7.25%||7.5%|
|Shriram City Union Finance Limited **||N/A||N/A||N/A||AA+||8.42%||8.42%||8.65%|
|SHRIRAM TRANSPORT FINANCE CO.LTD **||N/A||N/A||TAAA||N/A||8.42%||8.42%||8.65%|
|DHFL SWAYAMSIDHA FOR WOMEN||N/A||N/A||N/A||AAA||9.1%||N/A||N/A|
|HDFC LIMITED(RECURRING DEPOSIT)||MAAA||FAAA||N/A||N/A||8%||8%||8%|
|PNB HOUSING FINANCE LTD||N/A||FAAA||N/A||N/A||8%||8%||8.25%|
The FundsIndia provides Bonds of National Highway Authority of Inida (NHAI).
Whenever I heard of NHAI Bond, Section 54EC of Income Tax Act, 1956 comes to my mind.
According to section 54EC, any gain arising from transfer of any long term asset shall be exempt, up to Rs. 50 lacs, if you invest in NHAI bonds within six months from date of transaction.
So for people who are selling their long term capital assets like land, house etc., can save long term capital gain of 20% by investing in NHAI bonds.
Investment in Gold Plan of ‘Reliance My Gold Plan’
With small amount you can buy golds grams and redeem it at your will.
Features of Reliance My Gold Plan
|Subscription amount||Initial: Rs. 1,000/- and in multiples of Rs. 100/- thereafter
Monthly: Rs. 1,000/- and in multiples of Rs. 100/- thereafter
|Tenure||1 year to 15 years with min. 6 months lock-in period|
|Cost averaging||All subscriptions made will be split into 20 daily purchases, thus reducing market timing risk|
|Payment modes||First Payment - Online Payment/Credit Card
Monthly Payments - ECS
|Fulfillment options||24 Karat gold coins of 995 fineness in denominations of 0.5/1/2/5/8/10/20/50/100 grams. Jewellery option also available through empanelled jeweler|
Why Reliance My Gold Plan is superior to jewellers’ schemes
|Transaction ease and transparency |
Make automated monthly installments online, track purchases regularly online, get statements, and receive a separate customer ID
Each installment subscribed is backed by physical gold which is stored with the custodian and is hypothecated with the trustee
|Yes||No (no such formal clause)|
Systematic accumulation in physical gold wherein every subscription is split into 20 equal installments. This helps discover better prices for your gold purchases and avoids poor market timing
|Yes||No (jewellers most use price prevailing at the end of the term)|
|Delivery in many forms|
Choice of obtaining the accumulated gold grams in the form of coins and/or bars across multiple outlets or as jewellery in empanelled outlets
|Yes||No (mostly in jewellery form)|
24 karat Gold of 995 fineness or more credited to the customer’s account in up to 4 decimals
|Yes||No (jewellery purity may be lesser than coins/bars)|
Not locked to any particular jeweler.
|No geographical restrictions:|
Get Gold delivered to your door step at the end of the plan.
The other important benefits which I would like to include for FundsIndia review are :
- Great website for great online platform.
- Very secured with additional level of security while login.
- Provides various types of reports in Excel and PDF format.
- It has mobile App also through which you can keep watch over your portfolio easily.
- Making online payment is very easy.
- You can redeem your units online without any paper work.
- Great customer care services.
Although I have not gained or loosed much in last two years. MY portfolio with FundsIndia is in balanced situation.
I had invested in mutual funds to save tax and to do a little experiment with SIP & Mutual funds.
I will suggest my readers to go ahead and sign up for FundsIndia and experiment, to enhance your practical knowledge related to above investment options.
You can start with Low risk mutual funds, after checking their past performance.
Its all Free.
Check here my portfolio allocation in mutual funds
|Folio||Scheme||Asset Class||Allocation %|
|8251332138||Axis LT Equity Fund(G)||Equity||60.32||60.41|
|32132694||Franklin India Taxshield(G)||Equity||5.65||5.62|
|12247542||HDFC Balanced Fund(G)||Equity||5.75||6.53|
|23213578||ICICI Pru LT Equity Fund (Tax Saving)-Reg(G)||Equity||5.65||5.71|
|1321321397||ICICI Pru Value Discovery Fund-Reg(G)||Equity||1.88||2.23|
|2321457||IDFC Tax Advt(ELSS) Fund-Reg(G)||Equity||1.88||1.82|
|123213577||Reliance Tax Saver (ELSS) Fund(G)||Equity||18.85||17.67|
I assure you, you will only gain not loose.
I am not giving rating for fundsIndia Review, but I would say I am very much satisfied with their services.
All I had for FundsIndia Review. Please comment for your query and experience with FundsIndia.
Good Luck !