1. How do I open an account with FundsIndia?

Opening an account with FundsIndia is a fast, easy, painless process that is also completely FREE!

The quick process is as follows:

1. Click on "Open a free account" from anywhere in the website
2. Provide basic information about yourself - name, mobile number, email address
3. Fill out your investor details. You will need information such as your PAN card number, address, bank account number etc to fill out this form.
4. We will send you a courier with a pre-filled application form with all your details. We will also send you a stamped, self-addressed envelope that you can use to send your documents back to us. You will need to sign the application form, and attach a copy of the PAN card (self-attested) and a cancelled cheque leaf of your bank account. If you are not already KYC verified, you will need to provide the KYC form and associated details as well.
5. We will verify the documents, process the KYC application, and proceed to activate your account.
6. You can start investing right away.

For a pictorial representation of this process, please go to this page.

2. How do I open an NRI account with FundsIndia?

First, we would like to let you know that this enterprise FundsIndia.com was founded by a team of people who themselves were NRIs for a significant part of their lives. So, we fully understand what it means to be an NRI who wants to invest in India, especially the lack of clarity about the process involved and the documents required.

Please visit this page in our site to learn more about the process of opening an NRI account.

3. How do I open a Joint account with FundsIndia?

FundsIndia offers one of the most flexible mutual fund investing platforms when it comes to investing jointly. FundsIndia allows you to have all your family's investments under one umbrella login id. You can create multiple investors under one login id and mix/match the investors into different joint "Account name(s)" to invest differently.

So, basically, to open joint accounts, you would need to 'Add Investor' for every investor that you wish to have in the accounts. These can be spouse, parents, children etc. For every investor added, the application form and associated documents (pan card copy, KYC documents if needed) would need to be submitted one time. At that point, joint Account name(s) can be created and used for investments.

To review,

1. At FundsIndia you can have several joint and individual accounts under one login.
2. You can add multiple investors in one login registration using the "Add Investor" feature.
3. All investors registered under the same login will have to submit all the mandatory documents such as PAN card, cancelled cheque for bank account, and KYC documents (if needed) along with the registration form.
4. FundsIndia will activate the investors on receiving the documents and the registration form. The investors under the one login id will each automatically have an individual "Account name(s)".
5. They can also be combined differently to create different joint "Account name(s)". Investments can be made using any of these joint or individual Account name(s).
6. To create joint Account name(s), a facility is available on "Add Investor" page with a sub-heading "Click here to create a joint account in Anyone or Survivor Mode"

Notes :

1. Please note that the primary Account holder's bank account will be used for all the transactions for joint accounts.
2. Please note that the joint accounts will be in "Anyone or survivor mode"

4. How do I do SIP with FundsIndia?

Doing a systematic investment plan (SIP) with FundsIndia works slightly differently from a regular investment.

1. FundsIndia supports all banks for SIP investments, subject to ECS locations.
2. For ICICI Bank, Citi Bank and State Bank of India we support SIP thorough direct debit setup. There is no location restriction for direct debit.
3. For all other banks we support SIP through ECS debit setup. The ECS setup is available in these locations

If you have a bank account in one of these locations and it is not your primary bank account, we have given an option in our SIP process to add this bank account for ECS purposes.

If your bank account is not a ICICI or Citi Bank or State Bank of India account and does not fall under the given locations for ECS, you can still setup an alternate way called an Alert SIP. In Alert SIP, after the initial SIP setup, we will send alerts for your monthly SIP investments. At that time, you can login to your FundsIndia account and transfer money through NetBanking to fulfill your monthly SIP. Pleae note that for Alert SIP too, you have to have bank account with one of our Netbanking enabled banks.

For a direct debit / ECS SIP, the process is as follows:

1. Please select the basics of the SIP account - the scheme to invest in, the amount and the monthly date for investment
2. FundsIndia will send you an Direct Debit/ECS debit authorization form to sign and send back. We will deliver it via courier and pick up the signed documents from you.
3. Your monthly deduction from your bank account, for SIP, will be activated in 3-4 weeks.

Please note that investments will be made on SIP date + 1 business day, for direct debit and SIP date + 2 for ECS debits. For example, for direct debits if the SIP date is 15 of every month, the debit will occur on 15th and the investment will happen on 16th, if 16th is the next business day. For ECS debits if the SIP date is 15 of every month, the debit will occur on 15th and the investment will happen on 17th (if 16th and 17th are business days). The reason for this is that FundsIndia gets the status of debit only one business day after the debit is made in direct debit cases and two business day after debit is made in ECS debit cases.

SIP with FundsIndia has its own advantages, as you can choose any date for SIP and do not have to stick to the specific Mutual Fund SIP dates. FundsIndia processes SIP as additional investments. For convenience, you can combine your multiple SIP debits to one date and invest on a single date in multiple funds.

5. How do I verify my investments with FundsIndia?

There are well-defined ways of doing verifying that your investments with FundsIndia have been recorded with the mutual fund houses:

1. We will provide you with the folio number of your investment that is on the records of the mutual fund houses and their back-offices.
2. You can use this number to contact either the fund house or their back office to verify your investment.
3. If your investment is with a CAMS or Karvy (back office services) supported mutual fund house, you can use their mail-back service (available on their website) to verify your investment.

For more details on verification of investments in CAMS or Karvy, please go here:

CAMS

Karvy

6. How do I transfer my existing funds to FundsIndia?

By transfering your existing mutual fund holdings to FundsIndia, you can reap several benefits:

1. You can have a single consolidated view of all your holdings in one place, and receive unified statements.
2. If the holding you transfer is with a fund house that is supported online by FundsIndia, you can, after the transfer, you can invest using your existing folio ids when you want to make new investments.
3. If the holding you transfer is with a fund house that is supported online by FundsIndia, you can, after the transfer, redeem online as well.

The process for transferring your holdings to FundsIndia:

1. After you open your account with FundsIndia, when you login, you will see a 'Easy Transfer' link.
2. You will have to provide the existing mutual fund details such the name of the mutual fund company, the scheme name, the folio number and whether it is held individually or jointly.
3. Once submitted, FundsIndia will use these details to generate letters to the mutual fund companies. Depending on the fund company involved, these letters will request a transfer of holding from your existing broker code to FundsIndia's broker code via a "Direct" broker code.
4. As an investor, you do not need to worry about these different letters.
5. FundsIndia will automatically generate them for you and send them to you for your signature. Once you sign and send back these letters, FundsIndia will work with the mutual fund companies to get your holdings transferred to your FundsIndia account.
6. Normally, this exercise takes 3-4 weeks to complete

Frequent Questions about transfers:

1. What if I had my previous holdings with a different bank account?

Answer: Once the transfer is complete, we will submit another request to transfer the bank details with the mutual fund companies to align your existing holdings with your current bank account.

2. Would I require a No-objection certificate from my current broker?

Answer: No, you will not - thanks to a recent SEBI ruling, NOCs are no longer required for transferring mutual fund holdings.

Please read this article for a full discussion of the transfer process, timelines, and potential issues.

7. How do I change my primary bank account with FundsIndia?

At FundsIndia, an investor can have two bank accounts associated with their investment account - one for their regular (bulk) investments, and one for their SIP purchases. Each category can, however, have only one associated account.

The bank account used for regular (bulk) investments is referred to as the primary bank account for the investor.

There are times when one might want to change their primary bank account. An investor might want to move to a bank where FundsIndia supports netbanking, for example.

Changing your primary bank account is a simple process. To do so, please send us the following:

1. A letter requesting a change of primary bank account
2. A cancelled cheque leaf from your new bank account.
3. If the cancelled cheque leaf does not contain your name, a recent statement for the account that shows your name.

Please send these to our mailing address, and we'll take care of the rest.

For your reference, FundsIndia supports these banks:

For Netbanking transactions: Allahabad Bank, Axis Bank, Bank of Bahrain and Kuwait, Bank of Baroda, Bank of India, Bank of Maharashtra, City Union Bank, Corporation Bank, Deutsche Bank, Dhanlaxmi Bank, Development Credit Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Overseas Bank, Indian Bank, ING Vysya Bank, Jammu & Kashmir Bank, Karnataka Bank, Karur Vysya Bank, Oriental Bank Of Commerce, South Indian Bank, Standard Chartered Bank, State Bank Of India, State Bank Of Mysore, State Bank Of Hyderabad, State Bank of Travancore, Tamilnad Mercantile Bank, Union Bank of India, United Bank of India, Vijaya Bank, Yes Bank
(However, please note, that Deutsche support only ICICI, HDFC, Axis, IDBI bank and Standard Chartered Bank this list. Deutsche also supports Deutsche bank, Citibank N A, HSBC Ltd, Induslnd Bank, The Royal Bank of Scotland)

For SIP: All banks via ECS, ICICI, Citibank and State Bank Of India via Direct Debit.