How do I transfer my existing funds to FundsIndia?

By transferring 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 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 it 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.