Karnataka Bank has now tied up with M/s Finwizard Technology Pvt Ltd (FISDOM) to offer & facilitate Mutual Fund investments. Now Bank customers can access the Mutual Fund category on KBL Mobile Plus app and transact in a completely digital way.
Fisdom simplifies all aspects of Mutual Fund investment on KBL Mobile plus by:
- Facilitating instant and paperless KYC process.
- Providing a Goal based investing and Smart fund recommendation engine.
- Platform to invest, switch and redeem.
- And a Real-time tracking system.
- SIP (monthly investments) with as low as Rs.1000 per month.
- One-time (Lump Sum investments) with as low as Rs.5000.
Benefits of investing through KBL Mobile Plus app:
- Real-time tracking system.
- One-click withdrawal feature.
- 5000+ Mutual funds from 40+ AMCs.
- Smart fund recommendation engine.
Download the KBL Mobile Plus app now & start your Mutual Fund investment journey in a Digital way!
In our pursuit of accomplishing the goal of becoming One Stop Financial Supermarket we have been foraying into newer areas of banking products and services to meet the increasing needs of our customers. As a further step towards this, we have entered into a Distribution Agreement with the following AMCs for distribution of their mutual fund products.
Through this tie up, we provide an opportunity to our customers to diversify their investment portfolios, depending on their requirements and risk appetite. Please contact any of our Branches for more details.
The Bank is only a Distributor and the products offered are of the concerned Mutual Funds only.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully before investing.
Frequently Asked Questions (FAQs) for Mutual Funds
What is Mutual Fund?
Mutual funds are funds that pool the money of several investors to invest in equity or debt markets. Mutual Funds could be Equity funds,Debt fund or balanced funds.
The reason that mutual funds are so popular is that they offer the ability to easily invest in increasingly more complicated financial markets. A large part of the success of mutual funds is also the advantages they offer in terms of diversification, professional management and liquidity.
Advantages of Investing into a Mutual Fund
- Flexibility: Mutual Fund investments offer you a lot of flexibility with features such as systematic investment plans,systematic withdrawal plans ÷nd reinvestment.
- Affordability: They are available in units so this makes it very affordable. Because of the large corpus, even a small investor can benefit from its investment strategy.
- Liquidity: In open ended schemes, you have the option of withdrawing or redeeming your money at any point of time at the current Net Asset Value (NAV)
- Diversification: Risk is lowered with Mutual Funds as they invest across different industries & stocks.
- Professional Management: Expert Fund Managers of the Mutual Fund analyze all options based on experience & research
- Potential of return: The fund managers who take care of your Mutual Fund have access to information and statistics from leading economists and analysts around the world. Because of this, they are in a better position than individual investors to identify opportunities for your investments to flourish.
- Low Costs: The benefits of scale in brokerage, custodial and other fees translate into lower costs for investors.
- Regulated for investor protection: The Mutual Funds sector is regulated to safeguard the investor's interests.
What is SIP?
Advantages of SIP
- Disciplined investment at regular intervals.
- Minimum investment as low as Rs 500.
- Wealth creation by the power of compounding.
- Inflation protection.
- Advantage of Rupee cost averaging without having to time the market.
What is the commission I have to pay?
As per SEBI circular:SEBI/IMD/CIR No. 4/168230/09, following are the details of the comparative commission earned by Karnataka Bank Ltd from various fund-houses, whose products are being distributed:
|Fund Schemes (Lumpsum)||Upfront Brokerage/Upfront Commission||Trail year 1|
|Equity and Balanced||0.00% to 1.75%||0.00% to 1.25%|
|Index||0% to 0.75%||0.00% to 0.75%|
|ELSS||0% to 5.50%||0% to 1.00%|
|Asset Allocation||0% to 1.50%||0% to 1.25%|
|Arbitrage Funds||0% to 0.40%||0% to 0.75%|
|Monthly Income Plans||0% to 1.50%||0% to 1.25%|
|Gilt||0% to 1.00%||0% to 1.00%|
|Income||0% to 1.50%||0% to 1.00%|
|Short Term||0% to 1.00%||0% to 1.00%|
|Liquid & Floating Rate||0% to 0.10%||0.05% to 0.90%|
Karnataka Bank Ltd could also get reimbursements towards promotion and marketing related activities conducted by Karnataka Bank Ltd on behalf of AMCs. These reimbursements are event based and the same may or may not be received from AMCs in a particular period. Further, since such activities may be carried out at AMC level, reimbursement amount received cannot be attributed to any specific scheme being offered by such AMC.
This is on a best effort basis and rates are updated as and when actual rates are received from AMCs