Like all distributors, we get a small recurring fee (approx 0.6% annually) from your investments via the AMCs
We dont charge separatey for advisory. Like all distributors, we get a small recurring fee (approx 0.6% annually) from your investments via the AMCs
No Finadore does not charges anything else. There maybe some charges levied by AMCs as per the regulations
Charges :
You may be charged an ‘Exit Load’ which is basically a penalty for withdrawing your investments too soonor before a stipulated period. For equity Mutual Funds it is generally 1% of the total value if you withdraw within 1 year of investing. For Debt Mutual Funds, it varies a lot - from no exit load to a couple months after investing. Most of the Debt Mutual Funds recommended by Finadore have not Exit Load.
Taxes :
If you are investing in Equity or hybrid Mutual Funds, then you are levied Short Term Gain @ 15% on profits if the investment duration is less than or equal to a year. After one year you are charged LTCG which is @ 10% if the profit is more than one lacs as per recent budget.
In Debt Mutual Funds, they are taxed at your income level if the investment duration is less than or equal to 3 years. After that they are taxed at a flat 20% after taking indexation ( Total Returns - Inflation) into account. We will be helping you arranging capital gain statemants but you need to condult your accountant for the final taxation"
At Finadore , We believe in Hassle free investments. We will be requiring followimg documents :-
- PAN Card
- Address Proof
- Bank Account Details ( A copy of cancelled cheque or a recent bank account statemant)
- Nominee Details
Once you share the documents with us either through email or uploading on our website. We will be verifying the KYC details and sending you an Account Opening Form . You need to print and sign that form and share the scanned copy of the same. Once you share the signed copy you can proceed with the investments
You can start investing with as low as Rs 1000 and increase your investment as you feel comfortable. There may be some AMCs who may have minimum investment criteria greater than 1000 Rs.
A mutual fund is a pool of money from several investors. This pool of money is generally invested in stock market, government / private sector bonds , gold and other asset classes. Investing in a mutual fund can be a lot easier than buying and selling individual stocks and bonds on your own. Investment decisions in mutual funds are taken by financial market experts, called fund managers, whose job is aligned to get the best returns for the funds collected.
Mutual funds, like stocks or FDs have a value attached to them. They are bought and sold in units. Just like you buy Rs. 1,000 worth of shares of a company, you can buy Rs. 1,000 worth of units of a particular mutual fund scheme. The value of a unit changes everyday and it is called NAV - Net Asset Value. There are more than 4,000+ mutual fund schemes in India and are regulated by Securities and Exchange Board (SEBI) of India.
Planning your taxes is an integral part of your financial planning. Sec 80C of the Income Tax Act allows you to claim deductions from your taxable income by investing in certain investments. One of the most popular Sec 80C investments is in tax saving mutual funds or Equity Linked Savings Scheme (ELSS).
This is an equity diversified fund and investors enjoy both the benefits of capital appreciation, as well as tax benefits.
Compared to traditional tax saving instruments like Public Provident Fund (PPF), National Savings Certificate (NSC) and bank fixed deposits; the lock in period of an ELSS fund is much lower.
While ELSS investment is locked in for 3 years, PPF investments are locked in for 15 years, NSC investments are locked in for 6 years, and bank fixed deposits eligible for tax deduction are locked in for 5 years. As ELSS is an investment in equity markets and investing in this for a long term can give you better returns compared to other asset classes over the long term.
You can also opt for SIP investments, which bring about discipline in regular investing. You can also get income from your investment amount in the lock in period if you opt for dividend schemes.
We have an experience of about 25 years in this front. We have around 35 Cr assets under management in Mutual Funds only. The experience you will have with Finadore will be unmatched. We have in built technology which allows us to monitor your portfolios (and recommend corrective actions) on a 24X7 basis. We believe that every person has a different nature and appetite for investing. We believe in approach where we understand yur investment needs and goals an receommend portfolio on the basis of that. Our fee structure with all the mutual fund companies is the same and moreover it is on an all-trail basis which ensures that our incentives are aligned with yours.
Finadore is an investment platform to buy and sell financial products. It does not hold investor's money as it gets directly transferred to the AMC account under Investor's name. Since the investor is connected with an AMC, any action on the part of the Finadore would not impact investment holdings.