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  #1  
Old 13th October 2017, 10:29 PM
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Default Buying/Extending Current Mutual Fund via Online Mode



My Situation

I bought 2 mutual funds (Birla & Kotak) via same broker. Now I would like to add more money (SIP) in same mutual fund. So what is right/good mode to do SIP?

1. I can go online to Birla & Kotak mutual fund, login and then increase the SIP amount?

2. Or I tell to my broker that I would like to add more in current SIP?

What I know is in Broker mode - there will be charge (entry load).. But I would like to know insights, detailed manner I don't know. Can somebody tell me, especially in my case?

Thanks.
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  #2  
Old 17th October 2017, 02:18 PM
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Default

If you want to invest in the same mutual fund, then there is no reason why you should go with the broker.

Are you KYC compliant? If yes, then you can directly go to the AMC's website and invest. You can either invest in the same folio, or create a new folio and invest in that. But going online, you cannot increase the SIP amount in the same SIP which you started through a broker - you will have to start a new SIP.

Going through a broker leads to unnecessary charges - you can only invest in a fund through "regular" option if you go through a broker. If you invest directly with the AMC, you can in the same fund using "direct" option. This is more cost effective.

If you rely on your broker for investment advice, only in that case should you go through them. If you are doing your research yourself, then go the direct way!

Do brokers still charge "entry load" ? That is archaic!

Hope this helps. Let me know if you have any additional questions.
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