Buy Mutual fund Direct plans

Hi all, I am trying to buy Mutual fund Direct plans. However both ICICI and Axis mobile apps are allowing only regular plan.
Does this mean, I have to install another app or go directly to fund sites to buy?

The main reason to buy through bank is to keep track at one place and also giving money to virtual app seems risky?. If there is any issue I would like to visit a brick and mortar office, if required. Perhaps I am old fashioned:(

What are you folks doing for mutual fund portfolios?

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You can open a Zerodha account and invest in mutual funds through Coin, all mutual funds offered are Direct Plans. Since the MF units are created to your Demat account, all your investments (stocks, mutual funds) are in one place.

You can check out the account opening process here: How do I open an account online?

Also, under new SEBI regulations, for mutual fund investments you don’t have to keep funds in your trading account. For investing, the funds are debited from your bank account and upon redemption, the funds are credited to your bank account.

In case of banking apps, the bank acts as a mutual fund distributor - which is why you see regular plans only.

The solution is to either use aggregators like Zerodha Coin or invest directly at the respective AMC websites. For example - you could download the Axis Mutual fund or ICICI mutual fund apps on your phone and you’ll see the direct plans there.

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Check out MFU India if you are so risk averse.
This is a platform built and run by MF AMC themselves and you get everything in one place.

There are many apps now which offer direct mutual funds. On such platforms, you will find all the funds and you can invest in any of them with just one ekyc. There are no platform or investing fee as well.

Thanks for your suggestion. I am already a zerodha customer but stopped day trading.
But curious, so how does Coin make money by selling only direct MF? Do I need to pay monthly charges?

Hi @mammen

For Mutual funds, It is completely free.

For G-sec, T-bills, SDLs , 0.06% on total investment value, same as â‚ą6 for every â‚ą10,000 worth of investment charged as brokerage.

Do check out our old Tqna post and Z-connect post out where we have expected our business model and everything related to coin in detail.

Thanks and appreciate that the coin is free. I am tempted to move my mf to Coin.

I haven’t read the details of Coin’s terms and conditions. So the question arises, will Coin always be free? considering I don’t do any other business with Zerodha. Once coin get enough investors in (network effect), couldn’t they change the policy to charge?

I don’t want to be in position where I have to change my mf dealer? at some time in future.

Is there a video where I can see the operation and features of Coin, in buying and redeeming? Along with integration with Kite.

Know that the units if purchased through Coin will be in demat form, just like shares. This is not the case when you buy from AMC websites or through CAMS or KFintech.

@mammen Axis MF mobile app has direct plans too… you have to select it properly. By default it will point to regular plan

Hey @mammen, we have no plans to charge any fees for mutual fund investments.

You can check out all the FAQs on Coin on our Support Portal.

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Starting a post kind of like this one forced me to do some research and I found your post to be quite helpful.