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Investing in Direct Murual funds through bank platforms

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Cherry

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Dear TF community members,

I’m planning to open an AXIS BURGUNDY ACCOUNT.
When I have visited branch, it is informed to give 5 lakhs initial Cheques and to maintain 10 lakhs MAB or 30 Lakhs TRV.

I have invested in DIRECT MUTUAL FUNDS through Paytm money platform. I am planning open BURGUNDY account with Axis bank and to invest in DIRECT MUTUAL FUNDS through axis platform to maintain the relationship value.

1. Can we invest in DIRECT MUTUAL FUNDS THROUGH AXIS PORTAL?

2. What are the investments counted for TRV?

Somebody with BURGUNDY account please give the information
 
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Subhankar said:
Burgundy account holder here.
No, you can not invest into direct funds ofcourse.

TRV: savings, current, fd, demat holding, insurance, ULIPs
Click to expand...
Thanks for your time and patience in providing the information.
In my search I can find Axis direct is offering Direct Mutual Funds also. The bank executive also tells the same.

AxisDirect

Choosing a financial avenue like Equity, Mutual Funds, SIP, Bonds, etc. and investing in them is not enough. It is also important to have a good exit strategy once you achieve your investment goals. Know how to exit your investments well and make positive returns on your investments at Axis...
simplehai.axisdirect.in simplehai.axisdirect.in

Can you please clarify?

Is the PPF account balance is included for calculating TRV?

Thanks in advance
 
Cherry said:
Thanks for your time and patience in providing the information.
In my search I can find Axis direct is offering Direct Mutual Funds also. The bank executive also tells the same.

AxisDirect

Choosing a financial avenue like Equity, Mutual Funds, SIP, Bonds, etc. and investing in them is not enough. It is also important to have a good exit strategy once you achieve your investment goals. Know how to exit your investments well and make positive returns on your investments at Axis...
simplehai.axisdirect.in simplehai.axisdirect.in

Can you please clarify?

Is the PPF account balance is included for calculating TRV?

Thanks in advance
Click to expand...
If you go through axis bank netbanking you will not get any direct funds. I am a burgundy customer so I know.
PPF is outside TRV.
 
Don't do it. Over time you'll end up paying a lot more in money to them for doing the Regular MF instead of Direct plan. Anything the bank sells if to make money from you... NOT FOR YOU
 
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Cherry said:
Dear TF community members,

I’m planning to open an AXIS BURGUNDY ACCOUNT.
When I have visited branch, it is informed to give 5 lakhs initial Cheques and to maintain 10 lakhs MAB or 30 Lakhs TRV.

I have invested in DIRECT MUTUAL FUNDS through Paytm money platform. I am planning open BURGUNDY account with Axis bank and to invest in DIRECT MUTUAL FUNDS through axis platform to maintain the relationship value.

1. Can we invest in DIRECT MUTUAL FUNDS THROUGH AXIS PORTAL?

2. What are the investments counted for TRV?

Somebody with BURGUNDY account please give the information
Click to expand...
For Burgundy the TRV required is of 30 Lakhs and that includes investments from net banking or mob App. But you’ll not be able to invest in ‘Direct’ but in Regular Growth only.
 
And to add to other members'points -
The cost you'll end up paying probably won't be worth for the Burgundy account.
 
harsh7t said:
My branch manager confirmed that PPF is calculated in TRV of 30 Lacs.
Click to expand...
That’s wrong information. As far as I know, PPF is not taken into account by any bank for TRV. Pl check again. But if he’s giving you Burgundy with PPF then should be fine. Savings account with bal of 10 lakhs in a family banking also meets the requirement of a Burgundy account.
 
Salvo08 said:
That’s wrong information. As far as I know, PPF is not taken into account by any bank for TRV. Pl check again. But if he’s giving you Burgundy with PPF then should be fine. Savings account with bal of 10 lakhs in a family banking also meets the requirement of a Burgundy account.
Click to expand...
It is not wrong info, it is mentioned in the Burgandy document itself
 
If we invest in direct mf via groww or mfcentral is there any difference in commission and other charges?
 
ICICI bank offered to open demat account with them. AMC is high. Will it be expensive than Zerodha, transaction wise? Is it the same situation in all the banks?
 
kishorvr said:
ICICI bank offered to open demat account with them. AMC is high. Will it be expensive than Zerodha, transaction wise? Is it the same situation in all the banks?
Click to expand...

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Compared it yourself.
 
There is no banking platform that offers direct plans. We will lose around 1 to 1.5% in returns every year in regular plans that these bank platforms offer, and this can be in lakhs over a period of 10 to 15 years.
 
Keep money in liquid funds as emergency funds, as they have the lowest expense ratio. Again keeping 30lkh might not is possible, but you can split 50:50 in any other debt fund. Avoid hybrid/small-cap funds, as they typically have the highest expense ratio.
 
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