Sharekhan Mutual Fund Review


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Sharekhan is a full-service broker and offers mutual fund investment services to investors. The broker offers regular mutual fund schemes from different fund houses. It offers mutual fund investments through lump sum or SIP mode of investments. Investors can start investing with as minimum as ₹500 through SIP in a mutual fund.

Sharekhan also offers InstaMF which is a paperless online account to start investing in Sharekhan MF schemes. The broker also offers a list of best SIPs to invest through Sharekhan and the best mutual fund schemes to invest that are handpicked by a team of experts at the Sharekhan Mutual Fund Platform. With a Sharekhan mutual fund calculator, it is easy to plan as per your financial goals and invest accordingly.

Sharekhan Online Mutual Fund Charges

Sharekhan offers regular mutual funds and charges an indirect commission from the fund house. Hence, while investing in a mutual fund with Sharekhan, you have to pay a commission that is paid from your earnings. The broker doesn't charge anything for using the Sharekhan Mutual Fund platforms. And, you have to pay directly to Sharekhan when you choose special services offered by the broker such as portfolio management. The investors only require an InstaMF account for the mutual fund segment. You don't need to open a Demat account to invest in a mutual fund with Sharekhan.

Sharekhan Mutual Fund Charges

Sharekhan Account Opening Charges

Nil

Sharekhan Mutual Fund AMC Fees

Nil

Sharekhan Mutual Fund Brokerage

Nil

Sharekhan Mutual Fund Commission

It can be 1-1.5%

Sharekhan Mutual Fund DP Charges

Doesn't require demat account for mutual fund investment

Other Charges

No transaction charges

All brokers have the option to charge transaction fees for offering mutual fund investment facilities. But, Sharekhan keeps it free for the investors.

How to Open Sharekhan Mutual Fund Account

Opening a mutual fund account with Sharekhan is quite easy. Visit the official website and click on InstaMF. Next, click on open an Insta MF Account. Now, you have to follow these three steps to start investing with Sharekhan MF schemes:

1. Enter the information

Enter your PAN, Adhaar card and other important information to complete the first step of online MF account opening.

2. Complete Verification

Complete the verification process by entering the Mobile OTP. After verification, create an InstaMF login ID and password.

3. Add Bank Details

Add the bank details and upload a copy of the cheque leaf of your bank account.

That's all. You can start investing in a mutual fund through the Sharekhan MF platform. 

Key Features of Sharekhan Mutual Fund Account

  • Offers instant online account opening facility in less than 4 minutes
  • Provides experts assistance for solving your problems through call and chat
  • Offers experts' selected funds list for investors
  • Invest in best SIPs recommended by the Sharekhan experts
  • Assistance with NEO - Robo Advisor is available
  • Allows investment through SIP or lump sum mode
  • Choose schemes as per the short, medium or long-term perspective
  • Diversify the portfolio with different mutual fund schemes

Sharekhan Mutual Fund Platform:

1. Sharekhan Mobile App

Sharekhan Mobile App allows investment across Equity, derivatives and mutual funds. It provides one-tap investment features in mutual fund schemes. Sharekhan Mobile App is an integrated platform to invest in different investment options through a single platform.

Key Features of Sharekhan Mobile App for mutual fund investors:

  • Pause, create and modify SIPs anytime
  • Use a goal-based investment tool NEO
  • Autopay SIPs with a one time mandate
  • Purchase or redeem mutual funds on NAV
  • Access all the financial data, mutual fund, and market news

Download Sharekhan Share Market Mobile App

  • Visit the Google Play Store
  • Search for 'Sharekhan Mobile App' in the search bar
  • Click on the first option available
  • Click on the Install button to download the app
  • Login app with trading ID and password provided by Sharekhan. You will need a trading and Demat account to invest in a mutual fund through the Sharekhan Share Market App.

2. Sharekhan Trade Now Website

Sharekhan Website is a browser-based application to invest in equity, derivatives and mutual funds. It allows both lump sum and SIP mode of investment.

Key Features of Sharekhan Website for Mutual Fund investors:

  • Plan your investment with NEO tool
  • Add funds in watch list before investing
  • Get live chat assistance
  • Invest through SIP and lump sum mode
  • Purchase, switch, modify and redeem mutual funds easily

Access Sharekhan Trade Now Website

  • Visit Sharekhan official website
  • Click on three parallel lines available on the right-hand side corner of the home page
  • Click on "Trade Now"
  • Login with credentials and start investing

3. Sharekhan Insta MF App

Sharekhan also offers a dedicated mutual fund investment app which is the Insta MF app. It is a completely free platform to invest in Sharekhan Mutual Fund schemes. You just need to open an InstaMF account and log in to the app through an OTP based process.

Key Features of Sharekhan Insta MF App

  • Offers a dedicated mutual fund investment platform
  • Only need to open InstaMF account to start investing in Sharekhan MF
  • Get mutual fund investment recommendation from Sharekhan research expert
  • Manage all your mutual fund investment easily
  • Diversify the portfolio by investing in the different mutual funds

Download Sharekhan Insta MF App

  • Visit the Google play store
  • Search for Sharekhan Insta MF app
  • Select the first option from the search result
  • Install the app and login with OTP validity

Sharekhan Mutual Fund Calculator

Sharekhan offers 3 types of Mutual Fund Calculators including Investment Calculator, Goal Calculator, and Compare Funds. All the four calculators are available free at the official website of Sharekhan. Anyone can access the calculator to get assistance in financial planning. Here is how to use them:

1. Investment Calculator

Investment Calculator helps in calculating expected returns. You can choose an investment route as SIP, Lumpsum, Delay Cost and Lump Sum / SIP Balancer. Then you have to enter investment amount, expected rate of return and duration of investment to calculate the expected returns. The result will show you the total invested amount and expected returns.

2. Goal Calculator

This calculator helps you when you have a specific goal such as a wedding, dream house, dream car or education as the financial objective for choosing Sharekhan Mutual Fund. It shows the returns as per inflation rate, expected rate of return, time horizon and investment amount.

3. Compare Funds

When you want to compare two or more schemes as per their past performance, asset allocation, and risk measures, you can use the Compare Funds calculator. You have to type the name of the schemes and click on enter to add the schemes for comparison.

Sharekhan Mutual Fund Advantages

  • Doesn't charge any brokerage and transaction fee
  • Provides Mobile and web-based MF investment platform
  • Offers offline mutual fund assistance as well
  • Provides research-based assistance and NEO Robo advisory tool

Sharekhan Mutual Fund Disadvantages

  • Doesn't offer direct mutual fund schemes
  • No offline assistance for InstaMF
  • Charges a commission from the investors

Sharekhan Mutual Fund Customer Care

Sharekhan offers assistance through call or email for InstaMF accounts. You can contact Sharekhan InstaMF on 022-25753200 / 022-25753500 and mail on myaccount@sharekhan.com for any query. For InstaMF users, Sharekhan also provides online chat assistance between 09:00 am to 05:00 pm from Monday to Friday.

Conclusion

Sharekhan doesn't offer direct mutual fund schemes. All the schemes offered on the Sharekhan MF platform are regular schemes from different fund houses. You have to pay commission indirectly to the broker.

Sharekhan doesn't charge any brokerage, transaction and maintenance charges for mutual fund investments. It also offers InstaMF online instant mutual fund account opening facility. If you are looking to diversify your portfolio and invest in a regular mutual fund, you can choose Sharekhan Mutual Funds.

Sharekhan Special Offer

Free Trading & Demat Account (for limited time only)

Get FREE Trading + Demat Account (₹1150 waived). You can also avail of attractive trading plans that suit your needs by just paying the AMC charges that are fully adjustable against brokerage. Thereby saving up to 70% on brokerage.

This is a limited time offer. Simply leave your contact information with us and Sharekhan representatives will contact you.

Frequently Asked Questions

  1. 1. Does Sharekhan charge transaction fees for mutual funds?

    No, Sharekhan doesn't charge transaction fees from investors. It provides a completely free InstaMF mutual fund platform. However, Sharekhan like other brokers are paid a commission by mutual fund houses. This commission is paid from your investments in the mutual fund.

     

  2. 2. How to invest in SIP through a Sharekhan MF account?

    Sharekhan offers SIP investment facility for mutual funds. Following steps will help you invest in SIP-

    • Visit Sharekhan InstaMF account through App or web browser
    • Select mutual fund segment and click on purchase
    • Select the scheme you want to invest through SIP
    • Click on SIP option in front of the scheme
    • Enter date, period, frequency, and SIP amount
    • Accept the terms and conditions and place the order
    • Verify the profile and confirm the order

     

  3. 3. What are the investment options for Sharekhan Mutual Fund SIP?

    Sharekhan has three options for SIP investment which can be done through Net banking, Bank Mandate and Standing Instruction with the bank. You can choose any one option for periodic mutual fund investment through SIP.

     

  4. 4. How to check the order status with the Sharekhan Mutual Fund Account?

    To check the order status, please take the following steps-

    • Visit the Trade Now or Insta MF account
    • Login with the process
    • Visit the mutual fund segment
    • Click on Order reports
    • Filter the records as per the status you want to check

     

  5. 5. Does Sharekhan provide mutual fund recommendations?

    Yes, Sharekhan provides mutual fund recommendations. It has a team of experts to look into the mutual fund schemes and provide the list for the best SIP mutual funds and best mutual fund schemes.

    The mutual fund recommendations are available on the company's website. Here's how to access the mutual fund recommendations-

    • Visit sharekhan.com
    • Move your mouse to 'Mutual Funds' tab on the top menu
    • Click on 'FUNDS WE LIKE' or "SIP WE LIKE'

     

  6. 6. How to stop MF SIP in Sharekhan?

    Sharekhan customers can stop their Mutual Funds SIP in Sharekhan at any time. The easiest way to stop your SIP is by submitting an online request.

    Steps to Stop Mutual Fund SIP in Sharekhan Online

    1. Visit Sharekhan website
    2. Login to your account
    3. Go to the Mutual Funds section
    4. Click on the View SIP to get a list of all your existing SIPs
    5. Select and cancel the desired one.

    Note:

    • You could also cancel your SIP by contacting the customer care on Phone/email or through the chat services available on the website. The customer care team will guide you on the process to stop SIP.
    • Stopping SIP doesn't mean that the invested amount will be credited to your account. To get back the invested amount, you need to redeem the mutual fund units.

     

  7. 7. How much Sharekhan charge for mutual funds?

    Sharekhan does change any brokerage as it only offers regular mutual funds. For regular mutual fund schemes, stock brokers are paid a commission by the fund house (around 1 to 2%). Broker doesn't charge any brokerage from customers.

    Sharekhan also doesn't charge anything for using its Mutual Fund investment platforms.

    Sharekhan Mutual Fund Charges

    Account Opening ChargesNil
    Mutual Fund Account AMCNil
    Mutual Fund BrokerageNil

     

  8. 8. How to change SIP amount in Sharekhan?

    Normally, in SIPs, you have to invest a fixed amount every month or quarter depending on your investment frequency. You're not allowed to change the SIP amount. But you could close and start a new SIP at any time.

    Sharekhan offers a Flexi SIP facility that allows you to change the SIP amount every month without changing the electronic clearing system (ECS) mandate every month. If there's no change in SIP, the default amount set by you will be deducted. The facility also allows you to change the date of SIPs.

     

  9. 9. What is Flexi SIP in Sharekhan?

    Sharekhan Flexi SIP is a mutual fund facility that provides you with the flexibility to change the SIP amount every month without changing the electronic clearing system (ECS) mandate every month.

    In a mutual fund SIP, you commit to investing a fixed amount every month. The Flexi SIP plan allows you to change the SIP amount as per your financial health or market conditions. It also saves you from a lengthy process of changing the ECS mandate every time you wish to change your SIP amount.

    Features of Sharekhan Flexi Invest

    • If there's no change in SIP, the default amount set by you is deducted.
    • Facility to change the date of SIPs
    • No change in ECS mandate required

     

  10. 10. How to redeem SIP in Sharekhan?

    You can redeem SIP in Sharekhan at any time using the Sharekhan website or its mobile app. You also have an option redeem completely or partially.

    Steps to redeem SIP in Sharekhan

    1. Visit Sharekhan website or mobile app
    2. Log in and go to Mutual Fund section
    3. Click on the link "REDEEM/SWITCH" button
    4. Select the scheme units
    5. Click on the REDEEM option
    6. Enter the number of units you want to redeem
    7. Click the Submit button.

    Your redemption order will be updated on the order book. It may take 2 to 3 days for the money to get credited in your account.

    Note: Please check if your fund is eligible for redemption before placing a request. Some fund categories like ELSS and tax saving funds have a minimum lock-in period before you can redeem the funds. You cannot redeem such funds before the lock-in period is over.

     

Contact Sharekhan / Request Call Back

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


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