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Discussion in 'Investment Analysis' started by pramodcug, Sep 16, 2017.

  1. pramodcug

    pramodcug New Member

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    Sir kindly provide me direction for the undermentioned point-
    1) Without brokerage firm like Sharekhan, can we directly invest in share market?
    2) I have an account with Sharekhan but after studying your experience which you shared on mail I have decided to switch. Can you suggest me any platform?
    3) Regarding mutual fund 3 years lock-in period means from the day I start sip or from the last date of sip
    4) Regarding mutual fund exit charge within 1 year means one year from the date of starting sip or from one year from the last date of sip....
    As I m a new comer and I want to know authentic knowledge that's why I disturbed you...kindly provide me your useful direction on the aforementioned points...
    Thanking you

    Sent from my Moto E (4) Plus using DIY Technical Analysis mobile app
     
    pramodcug, Sep 16, 2017
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  2. bnnarayana

    bnnarayana Contributor

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    bnnarayana, Sep 16, 2017
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  3. akhtar80

    akhtar80 Responder

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    Pramod ji, Sharekhan is good if your are looking from investing perspective and are also looking at applying ipo. also you can look at opening accounts with zerodha n SAS online. They have 20 n 9 RS brokerage respectively and have strong software. For delivery brokerage is zero. So I suggest you open more than 1 account one for investing n other if you want to do trading.

    MF, lock in period is the intended period you have applied, however most MF allow premature withdrawal. If withdrawal is within the one year 1% (exit charge) or in some cases more is deducted on the total wealth, but after one year most MF plans don't do any deduction (exit charge)
     
    akhtar80, Sep 17, 2017
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    shabbir and bnnarayana like this.
  4. shabbir

    shabbir Administrator Staff Member

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    Welcome to the forum.
    Yes we can and this is called direct trading window in exchange. Need more than 5 crore rupees to get one.
    The bad experience of my Sharekhan PMS account and this is different from Sharekhan brokerage account. I use them as well as Zerodha https://shabbir.in/zerodha-review/
    Each units in SIP is locked for 3 years. So first units purchased is locked for 3 years and last units purchased is locked for 3 years. There is no first or last date for all units.
    Based on the purchase date of each units.
     
    shabbir, Sep 18, 2017
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  5. shabbir

    shabbir Administrator Staff Member

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    Lockin mutual funds do not allow that but there can be exceptions which isn't recommend and can have lot of issues. As an example if you withdraw an ELSS prior to it's locking period is over,because you will have to pay the taxes that were claimed for ELSS fund in the earlier years. It is more of a headache to be doing that and recalculating your prior tax and making a payment of those.
     
    shabbir, Sep 18, 2017
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