[thoma]

Originally Posted by carboy

You should do the KYC with MFU (https://www.mfuindia.com/CANOptions) - then you can invest with any Mutual Fund direct plan from MFU's website without doing separate KYC for each AMC.

Is that the full KYC or just e-KYC? I thought for full KYC, one need to do in-person-verification. For e-KYC, one can invest only upto 50000/- per year in a fund.

[carboy]

Originally Posted by thoma

Is that the full KYC or just e-KYC? I thought for full KYC, one need to do in-person-verification. For e-KYC, one can invest only upto 50000/- per year in a fund.

To be eligible for the Completely electronic CAN you need to already have a mutual fund account with one of the AMCs (which means your KYC is already done). If you don't have that, so you will have to fill up their online form, print it out & deposit it at their POS.

Mine was fully electronic & it got done in a couple of hours.

[blackstallion76]

As a new investor, had hard time to submit the KYC docs from Karvy/HDFC/ICICI.
All three had mandated to invest some amount in their MFs to get the CKYC done.

Also, why cant i invest in other funds like Mirae/Principal/Kotak from HDFC AMC.
Online makes lot of sense.

[saket77]

Originally Posted by blackstallion76

Also, why cant i invest in other funds like Mirae/Principal/Kotak from HDFC AMC.

Because it will be like asking for a Maruti car from a VW showroom!

All the above are separate AMCs (& competitors).

Regards.

[hothatchaway]

Originally Posted by blackstallion76

As a new investor, had hard time to submit the KYC docs from Karvy/HDFC/ICICI.
All three had mandated to invest some amount in their MFs to get the CKYC done.
.

Try CAMS, they could be better in comparison. But I think this point is right ie you need to have a folio number generated (which can happen only once you have purchased MF units from any of the AMCs) to have a MF KYC done

[carboy]

Originally Posted by blackstallion76

As a new investor, had hard time to submit the KYC docs from Karvy/HDFC/ICICI.
All three had mandated to invest some amount in their MFs to get the CKYC done.

Also, why cant i invest in other funds like Mirae/Principal/Kotak from HDFC AMC.
Online makes lot of sense.

https://www.mfuindia.com/


This will allow you to invest in direct funds from all AMS at a single place.

[blorebuddy]

Originally Posted by blackstallion76

As a new investor, had hard time to submit the KYC docs from Karvy/HDFC/ICICI.
All three had mandated to invest some amount in their MFs to get the CKYC done.

You just need to get one KYC done for investing in all mutual funds. KYC is linked to the PAN so it's required to be done only once. You can do with one of the AMCs or CAMS by investing in one of the fund and then get the KYC done. Once it's completed, you will be KYC compliance then you can invest in any fund you want and AMCs will refer to this KYC based on your PAN and validate.


As others mentioned KYC through MFU online is the easiest as it's all done online and no investment is required

[sumeethaldankar]

My KYC status is displayed as "KYC Status : KYC Registered-New KYC" when I checked. So does that means it's completed?

[saket77]

Originally Posted by sumeethaldankar

My KYC status is displayed as "KYC Status : KYC Registered-New KYC" when I checked. So does that means it's completed?

Yes, your KYC is now done.

[DigitalOne]

Originally Posted by DigitalOne

I have re-entered the Gilt fund category in the last few weeks(by investing part of my annual bonus), seeing that RBI has started to reduce the interest rates. Keeping my fingers crossed hoping that the low inflation regime continues for some more time and RBI keeps reducing interest rates. Oil prices in the international market is worrying though. Domestic prices will be increased in one shot once elections get over.

With growth slowing down, oil prices moderating (The Official Fuel Prices Thread) thanks to US-China trade tensions, and a stable new government which may not increase spending in the first 2-3 years at least, I foresee low interest rate regime for couple of years.

My view: Gilt funds may give a decent 10-12% return. Have moved a couple of lakhs from Liquid to Gilt.

All standard disclaimers apply; Please do your own research

[DudeWithaFiat]

So, right now I am investing in the following two funds in the SIP mode:

1) Axis Blue Chip (Large Cap) : Rs.5000/- per month.
2) Mirae Asset Emerging Bluechip Fund (Large and Mid Cap) : Rs. 4000/- per month.

Now, I have couple of lakhs that I want to invest in a Short Term Debt fund (3 years). I am thinking of investing a lakh in a Fund that invests majorly in Govt bonds and investing the other lakh in a Fund that invests mainly in NCDs. What do you guys think?

Also, the FD interest rates of non-banking finance institutions are higher. Any risks associated with investing in them when they are reputed firms like Bajaj Finserv and LIC Housing finance?

[SmartCat]

Originally Posted by DudeWithaFiat

Also, the FD interest rates of non-banking finance institutions are higher. Any risks associated with investing in them when they are reputed firms like Bajaj Finserv?

Bajaj Finserv corporate FD is very safe. This NBFC has solid financials and is safe as a bank (not literally ).

[DudeWithaFiat]

Originally Posted by SmartCat

Bajaj Finserv corporate FD is very safe. This NBFC has solid financials and is safe as a bank (not literally ).

Wow. So fast. Thank you.

Wondering why common people are not talking about these a lot. I believe that an institution like LIC Housing Finance is also very safe.

[SmartCat]

Originally Posted by DudeWithaFiat

Wondering why common people are not talking about these a lot. I believe that an institution like LIC Housing Finance is also very safe.

Since LIC Hsg Fin is a Govt owned, your investment in FD should be safe.

Corporate FDs used to be very popular 20 years back. But a spate of defaults have scared away many investors. These days, most NBFCs raise money via mutual funds and most investors prefer to take that route.

Disadvantages of Corporate FDs:

- Default risk. Hence investing in corporate FDs requires some knowledge about company financials.
- Higher the interest rates offered, higher will be the risk of default
- No liquidity. But bank FDs can be broken and money can be withdrawn anytime

[sunilch]

Originally Posted by DudeWithaFiat

Wow. So fast. Thank you.

Wondering why common people are not talking about these a lot. I believe that an institution like LIC Housing Finance is also very safe.

Common folks do talk and invest in these. But, the safety is reflected in the yield that papers issued by such firms provide and also the fact that the interest income is taxable. Hence these things are not very attractive for many folks to be honest. Though I do understand that bank FDs should not be the alternative in such a case for the common folks but the presence of a bank branch near by and the relative friendliness of the bank staff/manager coupled with the ease with which you can open an FD goes a long way in comparison to having hardly any interaction with anyone in case of corporate FDs.