Mutual Fund investments for building NRV with banks

[msivanandareddy]

Dear all community members,

Currently I have invested around 1500000 in Mutual funds through PAYTM money.
I am thinking to transfer the amount to any bank that offers direct mutual funds and also considers MF investments for NRV calculation.

My purpose is to build NRV through mutual funds to get premium banking account and ultimately a super premium credit card.

Can someone in this forum share your views on this?

 

[Zacobite]

Transfer will cost you lots of money in exit loads + if timing is not right you may lose money on the NAV + Capital gains kick in as you have to withdraw and then reinvest.. you cannot transfer just like that. Also pls note that if you use banks then you won't be able to invest in 'direct' mfs and hence you will pay more.. So pls avoid transfer. If you really want to then stop in Paytm money and start with bank without any withdrawal.. but if you ask me AVOID this.. bad idea, you will lose money

 

[msivanandareddy]

Transfer will cost you lots of money in exit loads + if timing is not right you may lose money on the NAV + Capital gains kick in as you have to withdraw and then reinvest.. you cannot transfer just like that. Also pls note that if you use banks then you won't be able to invest in 'direct' mfs and hence you will pay more.. So pls avoid transfer. If you really want to then stop in Paytm money and start with bank without any withdrawal.. but if you ask me AVOID this.. bad idea, you will lose money

Thank you sir for your in-depth analysis. I was in the assumption that I can invest in Direct MF through banks also. If I couldn’t able to invest in direct funds then it will be a huge loss