Upstox Mutual Fund Review


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Upstox is a discount broker offering mutual fund schemes from 28 fund houses. All the schemes offered on the Upstox mutual fund platform are regular schemes. The broker doesn't charge transaction and brokerage fee for offering mutual fund services. You can open a free Demat, trading and mutual fund account with Upstox. There are more than 2,000 mutual fund schemes from multiple fund houses.

The minimum investment requirement at the Upstox MF platform varies across different AMCs (Asset Management Companies). You can choose multiple schemes from different fund houses to diversify the portfolio which can bear the market swings.

The Upstox MF account doesn't need any minimum balance to maintain for investing in SIP. However, your linked bank account should have the required balance to deduct at each interval. You will need an online Demat account with Upstox for investing in mutual funds. Upstox doesn't allow NRIs to invest in mutual funds.

Upstox Mutual Fund Platform Key Features

  • Offers regular mutual fund schemes
  • Invest either through SIP or lumpsum mode of investment
  • Instant mutual fund account opening
  • Choose from multiple mutual funds to diversify the portfolio for higher returns
  • Various mutual fund categories as per the risk appetite of investors
  • Read details about each mutual fund before investing at Upstox Mutual Fund platform
  • Use search filters and performance details to view potential returns of mutual fund

Upstox Mutual Fund Charges Online

Upstox offers a free Demat account opening facility. To open a Upstox MF account, it is necessary to open a Demat account with the broker first. If you have an Upstox Demat account, you can invest in mutual funds. There are no order placement charges at Upstox Mutual Fund Platform. However, while redeeming or selling mutual fund units, you have to pay Rs 18.50 as CDSL charges.

Upstox Mutual Fund Charges

Upstox Mutual Fund Account Opening Charges

Nil

Upstox Mutual Fund AMC Fees

Nil

Upstox Mutual Fund Transaction Charges

Nil

Upstox Mutual Fund Commission

1% to 1.25% a year

Upstox Mutual Fund DP Charges

Buy - Nil; Sell - Rs.18.50

Other Charges

 

Upstox Mutual Fund Account Opening Process

With Upstox Mutual Fund, you are not required to open a separate account for mutual fund investments. Opening a Demat account with Upstox, opens a mutual fund investment option to the customers. If you already have an Upstox Demat account, you can use it to start investing in mutual funds. Here is how to access Upstox mutual fund platform:

  • Visit the official website of Upstox and choose Mutual Fund under Products tab
  • Login to Upstox MF platform with Upstox Pro Unique Client Code and password
  • Access all the mutual fund schemes available on the platform
  • Available balance in your securities account can be used to purchase mutual fund units
  • You can choose either 'Start SIP' for SIP or 'Buy Fund' for lumpsum investment

Upstox Mutual Fund SIP

A Systematic Investment Plan (SIP) is a disciplined way to invest a certain amount at regular intervals to fulfil your financial goals. While investing for the first time from the Upstox Mutual Fund platform for SIP, it is necessary to send an ECS mandate to Upstox. A bank ECS mandate permits automatic deduction of the SIP amount at a particular interval from your bank account. Depending on the bank, it may take 15-20 days to get the ECS mandate approved.

Benefits of investing in SIP at Upstox Mutual Fund

  • You need to invest only a little bit of money at each interval
  • It builds a regular saving and investment habit
  • SIP protects from extreme market volatility condition and gives rupee cost averaging benefits
  • It helps in creating wealth or complete a financial goal over a long-term horizon

Steps to Start Upstox Mutual Fund SIP

Investing in MF through SIP on the Upstox Mutual Fund platform is quite easy. Follow these steps to start a SIP:

  • Login Upstox MF platform with client ID and password
  • Search the scheme name on the MF dashboard
  • Choose the fund and enter the amount
  • Click on "Start SIP" and choose SIP details

Depending on the interval you have chosen, your account will be auto-debited to invest in SIP at regular intervals. It is necessary to maintain the required balance in the linked bank account to stay invested through SIP.

Upstox Mutual Fund Platform

Upstox offers a web-based Mutual Fund platform to make mutual fund investing easy for the customers at a low cost. It is a completely free platform to invest in mutual funds. Upstox doesn't provide any recommendations on mutual fund investment schemes. All the schemes available on this platform are open-ended, which means there is no restriction on the number of units purchased in the mutual fund.

Here are the steps to start investing in mutual fund through Upstox Mutual Fund Platform:

  1. Visit the official website of Upstox and click on Upstox MF platform under 'Products & Tools' tab
  2. Login to Upstox Mutual Fund with client ID and password
  3. Search the scheme from 'Search Funds' on Upstox MF platform
  4. Choose the scheme and enter the amount you wish to invest
  5. Add mutual fund scheme to your MF account
  6. You can click on "Start SIP" for SIP or "Buy Fund" for lumpsum purchase

Upstox Mutual Fund Advantages

  • Offers more than 2,000 mutual funds to diversify the MF portfolio
  • Provides an integrated platform to invest across 28 fund houses
  • Check the performance, returns, mutual fund details of each scheme
  • Filters to quickly find best MF as per your needs
  • Simple and easy to use Upstox MF platform

Upstox Mutual Fund Disadvantages

  • Doesn't offer mobile and desktop-based mutual fund investment platform
  • Only offers regular mutual fund where investors have to pay commission
  • Doesn't provide mutual fund recommendation and investment tips

Upstox Mutual Fund Customer Care

Upstox also provides customer care support for investors. You can contact on 022-6130-9999 or write at support@upstox.com for any mutual fund related issues. Upstox live chat and Robo chat options are also available for customers.

Conclusion

Upstox offers a dedicated web-based Mutual Fund platform and doesn't charge any brokerage and transaction fee. Although, you have to pay CDSL charges while redeeming or selling out mutual fund units. Investors have a variety of options to choose from over 2,000 mutual fund schemes from 25+ fund houses. The Upstox Mutual Fund platform has a very simple and easy to use interface. Even new investors can use the platform quite easily, select and invest in a suitable mutual fund scheme for their portfolio.

About Upstox Mutual Fund

Started in 2011, Upstox is a low-cost discount brokerage firm in India. It has registration with BSE, NSE, and MCX as RKSV Securities. Upstox offers online trading and Demat services for investors. It allows investing across Equity, Derivatives, Commodity, Currency, and Mutual Fund. Recently, it has also launched an IPO investment application where investors can invest in an IPO online using the UPI mechanism.

Upstox offers advanced trading platforms such as Pro Web, Pro Mobile, Nest Trader and Fox Trader. It also has dedicated platforms to invest in mutual funds and IPO.

Upstox Special Offer

FREE Equity Delivery Trading

Open Upstox Trading Account and get brokerage FREE Equity Delivery Trades (₹0 brokerage). Trade in Intra-day and F&O Trades at flat ₹20 per order.

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Frequently Asked Questions

  1. 1. Is Upstox legit?

    Yes, Upstox is a legitimate discount brokerage company in India registered with stock market regulator SEBI. It is also a member of all major stock exchanges including BSE, NSE, MCX. The company is a DP member of CDSL and NSDL.

    Upstox Membership Registration Numbers

    • CIN number (RKSV Securities): U74900DL2009PTC189166
    • CIN number (RKSV Commodities): U74110DL2012PTC236371
    • SEBI Registration No: INZ000185137
    • NSE Member Code: 13942
    • BSE Clearing Code: 6155
    • MCX Member Code: 46510

     

  2. 2. How to deactivate Upstox account?

    Your Upstox account gets deactivated or dormant if there's no trading activity for 6 months. However, your account will attract all applicable charges i.e. Demat AMC.

    Unless you are holding stocks for the long team in your demat account or have a plan to trade in the near future, you should consider deactivating or closing the upstox account. This saves you money in terms of fixed costs like Demat AMC. It also saves you from misuse of your account by the broker or a hacker.

    Steps to deactivate upstox account:

    1. Visit www.upstox.com
    2. Support >> Download Forms
    3. Scroll to 'Account Modification Forms' section
    4. Download the 'Demat Account Closure' form
    5. Print, fill and sign it.
    6. Courier the signed paper form to the Upstox office.

     

  3. 3. Which bank account do you need to invest with Upstox Mutual Fund?

    Upstox has a partnership with all the major banks (around 50 banks) to assist mutual fund investment. If you have a savings bank account with any of these banks, you can invest in mutual funds from the Upstox MF platform.

     

  4. 4. Can I invest in mutual funds through Upstox?

    Yes, Upstox offers a mutual fund investment platform for investors. It doesn't charge any brokerage and account opening fee for mutual fund investments. You can invest in mutual funds either through SIP or lumpsum mode.

     

  5. 5. Can I invest in Direct mutual funds at the Upstox MF platform?

    No, you cannot invest in direct mutual funds at the Upstox MF platform. Currently, the broker offers only regular mutual fund schemes for customers.

     

  6. 6. How can I buy Upstox Mutual Fund online?

    Investing in mutual funds with Upstox is quite an easy process. Here's how to buy mutual funds with Upstox-

    1. Login through client ID and password on Upstox Mutual Fund Web
    2. Search for the scheme on the mutual fund page.
    3. Select the desired scheme, choose from 'Start SIP' or 'Buy Fund' option. If you want to invest via SIP, click on "Start SIP" option. For lump sum investments, click on the "Buy Fund" option.
    4. Enter order details and confirm

     

  7. 7. Which is better Upstox or Zerodha Mutual Fund platform?

    Both the broker offers a dedicated mutual fund platform for the customers. Zerodha offers Coin platform allowing direct mutual fund investment where you don't have to pay any commissions. Whereas, Upstox offers a web-based platform of regular mutual funds where you have to pay commission. So, you can save more with Zerodha Coin than the Upstox Mutual Fund platform.

     

  8. 8. What are the filters you can use in choosing the scheme on the Upstox MF platform?

    Upstox Mutual Fund offers 8 types of filters to help investors in choosing the right scheme for their portfolio. Here are the filters available with Upstox Mutual Fund login:

    • Fund type
    • Category
    • Plan type
    • Fund house
    • Return
    • Minimum Investment
    • Age of fund
    • Lock-in period

    You can also search for a specific scheme by using the search option.

     

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Information on this page was last updated on Saturday, June 6, 2020


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