Geojit Mutual Fund Review


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Geojit is a full-service broker with 460 offices in India and above 10 lakh customers. The company is a mutual fund distributor in India. It also provides investment services outside India to Non-Resident Indians in Gulf countries. It doesn't have in-house mutual fund schemes.

For mutual fund investments, Geojit has a dedicated platform called 'Funds Genie'. The platform is available as a website and mobile app. Using the Geojit Mutual Fund platform, investors can invest in more than 10,000 mutual fund schemes from different fund houses.

Key Features of Geojit Mutual Fund:

  • Instant KYC verification with PAN and Aadhar card details
  • 100% paperless account opening and investment process
  • Open a mutual fund account instantly and start investing
  • Can also sell mutual fund units bought from other platforms
  • Advanced goal planner to plan for your financial goal smartly
  • More than 10,000 mutual funds schemes to invest
  • Use reporting engine to track the portfolio in real-time
  • Choose the fund of your choice with Fund Search feature

Geojit Mutual Fund Online Charges

Geojit Mutual Fund Charges

Geojit Account Opening Charges

Nil

Geojit Mutual Fund AMC Fees

Geojit Mutual Fund Brokerage Charges

Nil

Geojit Mutual Fund Commission

Charges commission 1% to 1.5% for regular mutual funds

Geojit Mutual Fund Demat Charges

₹100 folio when ARN code belongs to GFSL, Barjeel Geojit , QBG Geojit, BBK (Bahrian & Kuwait ) and ₹250 folio in the case of any other ARN code

Other Charges

 

Geojit Mutual Fund Account Opening Process

Geojit offers an instant account opening facility where you can open a mutual fund account in a few minutes and start investing. It is 100% paperless account opening and you don't require any physical document submission and branch visiting. After opening a mutual fund account you can install the Geojit trading platform and login with credentials to start investing in selected schemes from 1,000 mutual funds.

Here are the steps to open Geojit MF account:

  • Visit the official website of Geojit Mutual Fund- https://fundsgenie.in/
  • Click on Login and then on "Sign Up"
  • Enter your mail ID and password for the signing up
  • Enter personal details such as name and mobile number
  • Enter the OTP sent to your mobile number
  • Complete your personal details such as PAN card and date of birth
  • Fill additional information and bank details
  • Upload your signature and bank statement/passbook soft copy

The whole process is instant and online which doesn't require any physical verification.

Geojit Mutual Fund SIP

SIP or systematic investment plan is an advanced and hassle-free way of investing your money in mutual funds. It allows the investor to invest a certain amount of money in a particular scheme at a regular interval. So, SIP is a planned approach to achieve your financial goals. It builds the saving habit and builds wealth for the future.

Geojit Mutual Fund SIP investment also provides the same benefits like rupee cost averaging and compounding benefits.

Key Features of Geojit Mutual Fund SIP:

  • Start investing in mutual fund SIP instantly
  • 10,000+ regular mutual funds to invest
  • Provides mutual fund recommendation to start investing
  • Use Geojit SIP calculator to calculate the returns and plan your financial goals
  • You can start with as minimum as ₹500 depending on mutual fund through SIP
  • Your SIP payment will be deducted online through the linked bank account 

Geojit Mutual Fund Investment Platforms

Geojit offers fundsgenie platform for instant account opening. You can complete the account opening process, access Geojit mutual fund calculator, visit the dashboard and track mutual fund investment through this account. For Mutual Fund investment, Geojit offers a dedicated mutual fund mobile app named Geojit Funds Genie. You can install the app and start investing in Geojit Mutual Funds instantly.

Key Features of Geojit Funds Genie App

  • Dedicated Geojit mutual fund investment platform
  • Get research-based recommendations offered by Geojit experts
  • Geojit Investment ROBO for guided assistance
  • Can open an instant account with Geojit after installing the app
  • Track your portfolio performance online
  • Get comprehensive reports on mutual fund investments
  • Doesn't require any paperwork
  • Provides top AMC funds to invest
  • Plan your investment as per tax compliance

How to Download Geojit Funds Genie

  • Visit Google play store
  • Type "Geojit Funds Genie" in the search bar and type enter
  • Click on the first option available which is Geojit Funds Genie
  • Click on the green-coloured Install button on the right-hand side along with App details
  • Enter the login ID and password if you are Geojit registered user
  • Or create a mutual fund account with Geojit by completing the process

Geojit Funds Genie is currently available for Android Version only. The iOS is not launched yet but expected to launch soon.

Geojit Mutual Fund Customer Care

Geojit offers mutual fund customer care support for investors. They can contact on toll-free number at 1800-425-5501 /1800-103-5501 and paid line number at 0484 - 3911777 for any mutual fund related queries. You can also mail at customercare@geojit.com for investor inquiry and grievance.

Geojit Mutual Fund Advantages

  • Offers around 1,000 mutual fund schemes
  • Doesn't charge any brokerage for mutual fund investment
  • Offers Geojit Funds Genie mobile app
  • Offers paperless and free mutual fund account opening
  • Provides mutual fund recommendations for better financial planning

Geojit Mutual Fund Disadvantages

  • Doesn't offer in-house mutual fund schemes
  • No direct mutual fund scheme to invest
  • Charges indirect commission from the customers

Conclusion

For the beginners or new investors who want mutual fund recommendations and start investing in mutual funds instantly, Geojit Mutual Fund is a good option. They can also start investing in SIP and calculate the expected returns with SIP calculators. You will also get a top recommended funds list to start investing without much research and knowledge. The company offers a, a dedicated mobile app, to invest and track in mutual fund investments on-the-go. But, Geojit offers only regular mutual funds that mean you have to pay commission in the range of 1 to 1.5% to the fund houses.

Frequently Asked Questions

  1. 1. Geojit or Zerodha, which is better for mutual fund investment?

    Geojit offers regular mutual funds where Zerodha offers direct mutual fund schemes. Both have a separate dedicated mutual fund investment platform.

    Geojit Vs Zerodha Mutual Funds Similarities

    • Both offer dedicated online platforms
    • Offers Instant account opening facility
    • No brokerage charged on mutual fund investments
    • Geojit and Zerodha offers mutual funds to NRIs.

    Geojit Vs Zerodha Mutual Funds Differences

    • Geojit offers regular mutual funds whereas Zerodha offers direct mutual funds
    • With Geojit, you need to pay 1 to 2% commissions whereas Zerodha doesn't charge any commission
    • With Geojit, you need to pay demat charges of ₹100 folio when ARN code belongs to GFSL, Barjeel Geojit , QBG Geojit, BBK (Bahrian & Kuwait ) and ₹250 folio in the case of any other ARN code. Zerodha doesn't charge demat fees.
    • Geojit offers expert mutual fund recommendations, Zerodha doesn't.

    Conclusion

    Geojit is a good option to choose for beginners or new investors who want mutual fund recommendations to choose the right fund. Zerodha is a good choice for experienced investors who can invest without much assistance and want to lower their investment costs.

     

  2. 2. How is the Geojit Mutual Fund platform different from others?

    Here are the features which make Geojit a different platform-

    • 100% paperless account opening facility
    • Can sell any mutual fund unit whether bought from Geojit or any other platform
    • Advanced goal planners to keep an eye on your financial goal
    • Instant account opening and investment facility

     

  3. 3. How can I track the performance of funds with the Geojit Mutual Fund?

    Investors can add funds to the Watchlist and track the performance. This option is available while you log in to your fundsgenie account under the profile section.

     

  4. 4. How to reach Geojit Mutual Fund customer care?

    You can reach Geojit customer care for mutual fund related queries on toll-free number 1800-425-5501/1800-103-5501 and through email at customercare@geojit.com. Apart from this, you can also raise a service request under the support section in the User profile in your mutual fund account.

     

  5. 5. How to sell funds purchased from other platforms at Geojit?

    Geojit allows you to sell funds purchased from other distributors or platforms. Following steps will help you sell mutual funds-

    • Login the mutual fund account with Geojit
    • Visit Dashboard
    • Click on My Portfolio
    • Choose Invested Outside Geojit
    • Choose the fund to sell from the list
    • Enter order details and confirm

     

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Information on this page was last updated on Wednesday, January 29, 2020


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