Platform to invest directly into mutual funds

[NewUser]

I'm a beginner and want to select a platform for investing into mutual funds and stick to it. I want to try PhonePe but wanted to seek other opinions on this.

[1] If I start investing via PhonePe for say, 7 years, post which PhonePe product is taken off market, where will my units go? Can I use other platform to retain the investment done so far and continue investing?

[2] My company forbides me from investing via a broker that may also give a demat account. So options like Coin(Zerodha), Groww, IndMoney are out. Please include suggestions which purely invest in mutual funds, not stocks.

[3] Which is the easiest way to invest into MFs? Suppose I want to invest into Sensex Index fund. What would be the easiest and most-cost effective way(direct of course, not regular) to go about?

 

[rp0703]

[1] Your Mutual Fund investments are not linked to particular App but to you PAN and Email ID. You can always import all your mutual funds into any app but make sure you provide same Email in all the mutual funds you purchase.

[2] You can use CAMS or KFIN apps or portal to invest or you can invest directly via Fund House like Axis Mutual Fund or UTI. Search on app store also there are number of app that just provide mutual fund investment. Jupiter, Fi money and Niyox also provide mutual fund investments.

[3] Direct Mutual Funds are always cost-effective way to invest. There's no easy or hardw way to invest. It depends on app or website you are using.

 

[Deleted member 3355]

There are two sites/APPs setup by AMFI or CAMS/KFIN for smooth investing of MFs (Direct option).

MF Utilities India - MF Utility - Home

MF Utiility is an Initiative by and For the Mutual Funds in India and facilitates convenient submission of transactions for any of the participating mutual fund both online and offline

www.mfuindia.com

MFCentral

www.mfcentral.com

 

[NewUser]

[1] Your Mutual Fund investments are not linked to particular App but to you PAN and Email ID. You can always import all your mutual funds into any app but make sure you provide same Email in all the mutual funds you purchase.

[2] You can use CAMS or KFIN apps or portal to invest or you can invest directly via Fund House like Axis Mutual Fund or UTI. Search on app store also there are number of app that just provide mutual fund investment. Jupiter, Fi money and Niyox also provide mutual fund investments.

[3] Direct Mutual Funds are always cost-effective way to invest. There's no easy or hardw way to invest. It depends on app or website you are using.

Thanks a lot for the reply.

[2] Any recommendation(s)?

[3] How do I invest into the Sensex fund directly?

 

[NewUser]

There are two sites/APPs setup by AMFI or CAMS/KFIN for smooth investing of MFs (Direct option).

MF Utilities India - MF Utility - Home

MF Utiility is an Initiative by and For the Mutual Funds in India and facilitates convenient submission of transactions for any of the participating mutual fund both online and offline

www.mfuindia.com

MFCentral

www.mfcentral.com

Are they directly by the government(no third-party in between)?

I am new to this. It'd be great if you write about this in brief!

 

[ltf4ever]

Thanks a lot for the reply.

[2] Any recommendation(s)?

[3] How do I invest into the Sensex fund directly?

you might want to invest directly from the fund house website. since you mainly want to focus on sensex and index funds, managing it should not be a tough task.

search for sensex index fund...many fund houses have index funds. i think HDFC has one, there might be more from known fund houses.

 

[rp0703]

Thanks a lot for the reply.

[2] Any recommendation(s)?

[3] How do I invest into the Sensex fund directly?

[2 & 3] There are many apps on play store and you can use any of them to invest in sensex or nifty funds.

I want to ask, what's the particular restriction by your company? You can't open DEMAT account?

 

[NewUser]

[2 & 3] There are many apps on play store and you can use any of them to invest in sensex or nifty funds.

I want to ask, what's the particular restriction by your company? You can't open DEMAT account?

Yes. I can't open a Demat account or share in trade markets directly since it's a fintech company(conflict of interest).

I can directly invest in mutual funds through these apps(like I have mentioned PhonePe in the original post), but they may charge the middleman fee. So I think it's better to invest as directly as possible. Not sure which is the best way though, hence asking for suggestions. Mostly interested in index funds and liquid funds

 

[cryogenicsid]

Kuvera also works well. I use the same. Pretty simple and easy to use.

 

[rp0703]

Yes. I can't open a Demat account or share in trade markets directly since it's a fintech company(conflict of interest).

I can directly invest in mutual funds through these apps(like I have mentioned PhonePe in the original post), but they may charge the middleman fee. So I think it's better to invest as directly as possible. Not sure which is the best way though, hence asking for suggestions. Mostly interested in index funds and liquid funds

For mutual fund investments you don't need demat account so you can use apps like grow, kuvera or Paytm money. here's list of app you can use except zerodha coin. maybe you need zerodha account to use coin app.

 

[NewUser]

Kuvera also works well. I use the same. Pretty simple and easy to use.

Thanks for the suggestion. I can't use this though since this gives a platform for investing in stocks as well. I need a platform meant only for mutual funds i.e., it shouldn't give the option to trade in stocks

 

[NewUser]

For mutual fund investments you don't need demat account so you can use apps like grow, kuvera or Paytm money. here's list of app you can use except zerodha coin. maybe you need zerodha account to use coin app.

View attachment 5056

Thanks. I'll check them out. Few of them like Zerodha, IndMoney, Groww gives trading options in stocks as well, so I can't use those. I don't need a demat account for MFs, but the mere fact they offer a demat account in some form makes them ineligible. So I'll check the others.

 

[Paras Jain]

There is no app out there which will only give mutual fund investment option because most of them give that option for free. So to make money they have to sell other products/services (providing trading in stocks is one of them). Yes phonepe asof now may not be giving trading option but they may give it in future. Then what? I feel you need to clarify this conflict of interest. Else you have no option to go to each fund house separately and invest but they will try to sell you regular plans all the time.

 

[rp0703]

Thanks. I'll check them out. Few of them like Zerodha, IndMoney, Groww gives trading options in stocks as well, so I can't use those. I don't need a demat account for MFs, but the mere fact they offer a demat account in some form makes them ineligible. So I'll check the others.

You can also use one of the neo banking apps to invest. Like Jupiter, Fi money or Niyox. You have to open saving account with them which is zero balance. They all have some features that make them stand out. Like no penalty for SIP failure due to insufficient funds or Invest the change, where every transaction rounded up to nearest 10 or 20 or 50 then upon reaching threshold gets invested.

 

[NewUser]

There is no app out there which will only give mutual fund investment option because most of them give that option for free. So to make money they have to sell other products/services (providing trading in stocks is one of them). Yes phonepe asof now may not be giving trading option but they may give it in future. Then what? I feel you need to clarify this conflict of interest. Else you have no option to go to each fund house separately and invest but they will try to sell you regular plans all the time.

What about CAMS, KFIN and the like .. I know zilch about these, but I visited mfuindia.com and thought that they might be into mutual funds only. If you know something, please let me know

 

[karanssh]

What about CAMS, KFIN and the like .. I know zilch about these, but I visited mfuindia.com and thought that they might be into mutual funds only. If you know something, please let me know

I believe that CAMS, KFIN, MFU, are paid for the mutual fund houses themselves. Hence, they dont need to do cross selling to make money.

 

[SiddharthR]

Thanks a lot for the reply.

[2] Any recommendation(s)?

[3] How do I invest into the Sensex fund directly?

Compare MFs on other apps(Grow) & then invest via AMC's app like SBI MF

 

[BMR]

Is there any way one can do lumpsum investment in Mutual funds using a credit card (via wallet etc) ?

 

[NewUser]

I believe that CAMS, KFIN, MFU, are paid for the mutual fund houses themselves. Hence, they dont need to do cross selling to make money.

Okay .. so we can simply create an account with these and begin investings in MFs(particularly Index funds)?

 

[NewUser]

Compare MFs on other apps(Grow) & then invest via AMC's app like SBI MF

Thanks. So that means SBI, HDFC have their own apps like SBI MFs, HDFC MFs etc. Using them, we can directly(not regular) invest in index funds !??