IIFL Securities Mutual Fund Review


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IIFL Asset Management is a global asset management firm offering in-house mutual fund schemes for investors. Apart from selling IIFL brand mutual funds, the company also offers mutual fund schemes from 42 other fund houses through IIFL trading platforms. The company offers both the regular and IIFL direct mutual funds. You can manage all your mutual funds from different fund houses through a single account.


IIFL Mutual Fund Features

  • Provides in-house IIFL Mutual Fund Schemes
  • Offers regular mutual fund schemes from different fund houses
  • Provides portfolio rebalancing and financial planning advisory
  • Has a strong mutual fund research team to build and protect clients wealth through research reports
  • Offers free instant mutual fund account opening online
  • Free and easy to use IIFL mutual fund platforms
  • Diversify the portfolio by choosing from a range of schemes
  • Track and maintain all the investments in one platform

IIFL Mutual Fund Charges

IIFL offers free Mutual Funds account opening. It charges a commission of 1% to 1.5% for regular mutual funds. It doesn't charge AMC, brokerage, and demat fees on Mutual Fund transactions.

Account Opening Charges

Nil

AMC Fees

Nil

Brokerage Charges

No. But, ₹10 per installment over and above normal brokerage is charged for executing the SIP Transaction

Commission

Charges commission 1% to 1.5% for regular mutual funds

DP Charges

Nil

IIFL offers a free mutual fund account opening facility. Investors can open a paperless instant account with IIFL Mutual Fund and start investing quickly. IIFL offers both direct mutual funds from IIFL and regular mutual funds from different fund houses. When you are investing in direct IIFL Mutual Fund schemes, you are not required to pay any commission. Whereas, the broker charges commission up to 1.5% and transaction charges on regular mutual funds from the different fund houses.


IIFL Mutual Fund Account Opening Process

IIFL securities offer a free Instant Mutual Fund Account opening facility. To open the IIFL Mutual Fund account, you need to follow the below steps:

  • Visit IIFL official website
  • Click on the Mutual Funds tab
  • A new page will open
  • Click on 'Open an Account'
  • Start filling the form with basic details and create a user ID and password
  • Submit the form and fill the further details such as Personal Detail, Address Detail, Bank Details, etc

IIFL Mutual Fund SIP

IIFL allows mutual fund investment across 42 fund houses through SIP or lump sum mode of investment. Here are the steps to start IIFL Mutual Fund SIP:

  • Login your IIFL Mutual Fund account
  • Choose Invest SIP option
  • Select scheme and investment period
  • Choose the mode of payment
  • Click on Start SIP

You can also start investing in IIFL Mutual Fund SIP offline by contacting the relationship manager. By downloading the IIFL Mutual Fund Mobile App, you can manage your MF investment on the go. Here are the important points about IIFL SIP plans:

  • Investors can also stop the SIP through the MF account or with the assistance of a relationship manager. It will take around 45 days to execute the request.
  • The minimum investment amount for IIFL SIP plans can be as minimum as ₹500
  • Investment intervals can be chosen as per the convenience of daily, weekly, monthly, bimonthly, or quarterly of the investors
  • Allow redemption of SIP at any time. Some fund houses charge an exit load which you have to pay if you are withdrawing before a certain time interval. 
  • Investors can track the progress of mutual fund investment with IIFL

IIFL Mutual Fund Investment Platforms

1. IIFL MF App

Indiainfoline offers a dedicated mutual fund investment app named 'IIFL MF' for the investors. You can download the app on Android and Apple devices and start investing on the go.

Key features of investing with IIFL MF App

  • Offers paperless account opening facility
  • Track your mutual fund investment online
  • Offers a safe and secured IIFL mutual fund platform
  • Invest from anywhere on the go
  • Get expert advice to make your MF investment profitable
  • Offers more than 6000 mutual funds from different categories and fund houses
  • Start IIFL Mutual Fund SIP with as minimum as ₹500
  • Advanced fund screener making diversification easy

How to download IIFL MF App?

IIFL existing investors can log in with credentials. Whereas, new investors can register with IIFL for mutual fund investment across different mutual funds. 

IIFL Mutual Funds App Demo

 


2. IIFL Trader Terminal

IIFL offers desktop-based trading terminals for active traders. It allows investment across equity, derivatives, commodities, IPO, currency and mutual funds. You need to have an IIFL trading and a Demat account to start investing through this platform. 

Key Features of IIFL Trader Terminal

  • Create a customized market watch list
  • Place an order through a single click
  • Two-level authentication for secure access
  • Check the performance of the mutual funds
  • Invest either through lumpsum or SIP mode of investment

Download IIFL Trade Terminal

  • Visit Indiainfoline website
  • Click on download TT, a new page will open
  • Click on Download Trader Terminal
  • Log in with the trading account ID and password

IIFL Mutual Fund Customer Care

IIFL has an efficient customer care team to address the concerns and queries of the customers as soon as possible. It has Interactive voice response (IVR) technology to respond as per the query on +91 22 4007 1000. The IVR voice message informs queue number, and expected wait time for the calls received from registered numbers in working hours. The clients can also leave a voice message while placing a request after working hours. This voice message service is available 24x7 to submit concerns which are resolved by the customer care on the same day and next day if placed after office hours.

Investors can also mail the concern through mail at cs@indiainfoline.com and for complaint at customergrievances@indiainfoline.com. Clients can also send their concerns via Whatsapp on 9289903000 from a registered mobile number.


IIFL Mutual Fund Advantages

  • A dedicated mutual fund app
  • Offers in-house mutual fund schemes
  • Provides expert advice and recommendation on mutual fund investment
  • Offers instant IIFL Mutual Fund account opening facility

IIFL Mutual Fund Disadvantages

  • Charges commission on the regular mutual fund from other fund houses
  • Offers direct mutual funds of IIFL only

Conclusion

IIFL Mutual Fund is a good choice for mutual fund investments. You can invest in 6,000 mutual fund schemes from 42 fund houses. The company offers both direct or regular mutual funds of the fund houses. However, in direct mutual funds, you can't invest in funds from other houses as only IIFL schemes are available.

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Frequently Asked Questions

  1. 1. What is IIFL mutual fund?

    IIFL Securities offer mutual fund investment services to its customers. Apart from selling mutual funds from its sister concern IIFL AMC, the company also offers mutual fund schemes from 42 other fund houses. IIFL customers can invest in these mutual funds through IIFL trading platforms. The company offers both the regular and IIFL direct mutual funds.

    Key Features of IIFL Mutual Fund:

    • Availability of Direct IIFL Mutual Fund Schemes from IIFL AMC.
    • Offers regular mutual funds from 40 + different fund houses
    • Provides expert advisory on portfolio management and financial planning
    • Dedicated mutual fund research team
    • Offers free and instant mutual fund account opening
    • Invest through IIFL mutual fund platforms or IIFL Mutual Fund mobile app.
    • Track and manage all the investments from one platform

     

  2. 2. Is IIFL MF safe?

    Yes, Indiainfoline (IIFL) is completely safe and is a SEBI approved brokerage house in India. Investing in IIFL is as safe as investing in other registered brokers with SEBI such as Zerodha, Sharekhan, ICICI, and 5paisa.

     

  3. 3. How to invest in IIFL mutual fund through SIP?

    Follow the below steps to start investing in IIFL Mutual Fund through SIP:

    1. Login IIFL MF account
    2. The select Invest SIP option
    3. Select Scheme you want to invest
    4. Choose the investment period as per your time horizon
    5. Select the payment mode to transfer fund for SIP
    6. Now start SIP

     

  4. 4. Are all IIFL clients able to invest in mutual fund SIP facilities?

    Yes, all the registered users of Indiainfoline after 1st Jan 2008 can avail IIFL Mutual Fund SIP facility.

     

  5. 5. Can I place an IIFL mutual fund SIP order through a call & trade facility?

    No, IIFL mutual fund doesn't allow clients to place mutual fund SIP investment orders through Call N Trade facility. You can place SIP orders online only. Some brokers such as HDFC Securities allow placing SIP orders to buy stocks through Call N Trade facility.

     

  6. 6. When IIFL MF SIP orders are processed by IIFL Securities?

    While investing in IIFL Mutual Fund SIP, you have to choose the start date. The fund house will start investing in mutual funds on the start date which should be at least T+1 from the order placement in case of the ledger and T+30 in case of bank transfer.

     

  7. 7. How to cancel IIFL mutual fund SIP request?

    You can cancel your SIP request by sending an email to- iiflmfipo@indiainfoline.com with your SIP registration number. Once you cancel a request, all the future orders placed against such a request will be automatically cancelled.

     

  8. 8. How to sell mutual funds in IIFL?

    You can sell mutual funds from your account in IIFL at anytime and anywhere. To sell mutual funds in IIFL online, place orders through IIFL's trading platforms. The mutual fund units can be sold partially or completely.

    Steps to Sell IIFL mutual funds

    1. Log in to any of the IIFL trading platforms
    2. Go to the MF Portfolio section
    3. Select the fund you want to redeem
    4. Click on the 'Redeem' button.
    5. Enter the number of units to sell
    6. Click on 'Redeem'

    Note- Before placing a 'Sell' request for mutual funds, please check if your fund is not under the lock-in period and is eligible for selling. Some funds like tax saving funds have a lock-in period before which you cannot sell it.

     

  9. 9. How to redeem IIFL mutual fund?

    IIFL mutual funds can be redeemed online. The redemption process is easy, hassle-free, and fast.

    Before putting up a redemption request, please check if your fund is eligible for redemption as some mutual funds like tax saving funds have a lock-in period. You cannot redeem such funds before the lock-in period is over.

    Steps to redeem IIFL mutual funds

    1. Log in to IIFL Mutual Fund App or Trader Terminal.
    2. Go to the Portfolio section to find all your investments.
    3. Choose the fund you want to redeem and click on the 'Redeem' button.
    4. Enter the number of units you want to redeem
    5. Click on 'Redeem'

    The timeframe for the redemption proceeds to get credited to your account is mentioned in the redemption window.

     

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Information on this page was last updated on Saturday, October 3, 2020


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