faq for investors
Why Invest in Mutual Funds?
Mutual fund investment diversifies your investment portfolio. Furthermore, it is more appealing than FD's gold investment, tax-free bond, and even real estate.
What is Metta Money?
The Robo advisor you find on our platform is called meta money. Metta money acts as your friend by providing suggestions on where and how to invest the money in the right product.
Is there any membership fee?
Any investment and transactions are done through our official platform are free of cost. We charge you no fees for investing in mutual funds.
Why Should I Invest Through Gill Broking?
The professionals working with us are financial experts who possess years of experience in managing mutual funds investment deals. They provide our customers with the best possible assistance.
How Safe and Secure are My Investments?
Our customers get bank-grade security when processing the transactions with us. Our platform complies with all the latest investment regulations.
Do we guarantee a minimum return?
We don't guarantee minimum returns. However, our financial advisor provides all customers with a personalized suggestions on the right kind of mutual fund investment for them. But, there is no assurance of minimum returns in the future for your previous transactions.
What is Gill Broking?
We serve as India's renowned mutual fund investment platform catering to the varying requirements of people from different corners of India. We offer Robo-advisory services and a professional financial team possessing years of experience.
What is Robo Advisory?
Robo Advisory acts as your financial friend. It is an advisor, who helps you to create a perfect profile in a mutual fund that goes in line with the risk portfolio of the investor.
Do we Charge a Membership fee?
Our platform is 100% free of cost. You can use it to invest in mutual funds without having to pay a single penny. All the services you receive from us are for free. However, we do receive a small portion of the fee from the AMCS for all the investments processed via our portal.
Are we authorized?
We are an authorized mutual funds investment platform. Your money and commodities are safe with us. We are authorized by AMFI (Association of Mutual Funds in India).
Do we have branches?
We are an online MF investment platform. Everything on our portal is done online. We offer paperless services and your requests and problems are addressed through email and customer chat support system. Hence, we don't have branches.
What makes us different from competitors?
We are not only authorized MF investment service providers but offer highly secure and transparent services to all our customers. When you choose our services, you ensure safety and unbiased services. Our financial experts are ready to go the extra mile to cater to your requirements.
Why you must invest through our platform?
Our financial expert team has been in this realm for years now. That said, they offer highly personalized services to each member that signs up with us. By investing through our platform, you can rest assured that your investment is in accordance with your risk appetite. The combination of our Robo advisory and the human team helps you get a perfect solution for all your investment needs.
Who can invest via our platform?
You must be a citizen of India to be able to invest in mutual funds through our platform. NRIs and PIOs can also process investments and transactions through our platform.
How do I start my investment via Gill Broking?
In order to build your investment portfolio and start investing through our platform, you must follow the below-listed steps:
- Visit our app/website and write a unique ID and password
- Complete the necessary details and get access to our investing platform
- Check if your KYC requirements are completed. If not, you must do it by submitting the necessary documents instantly. This will help you to make your first mutual funds investment through our platform.
Is my confidential data safe with Gill Broking?
We offer tight security to protect your sensitive and confidential information. From bank-level security to data encryption, we are ready to do everything it takes to keep your privacy and personal details safe with us.
Do you need to pay tax for all the earnings from our platform?
You have to deal with the tax requirements at the time of money withdrawal. Currently, there is a 15% tax charged for your total returns on investment that's withdrawn within a year. For those who are planning for long-term equity investment, only 10% of the tax fee is imposed and that too on the amount that exceeds 1 lakh.
What if I decide to close the account with your platform?
If you decide to close your account with us, the mutual fund earnings and all other gains are held in the investor's name. That said, you can redeem the money anytime you want by contacting the MF support team. Alternatively, you can transfer earnings to the other ARN.
What is a Mutual Fund?
A mutual fund is one of the latest investment schemes that is managed and operated by AMC that collects the savings of a large number of investors.
Should you consider investing in MF?
Mutual fund investment has outperformed traditional investment methods. Not only is it super flexible but anyone can invest in MF. As long as you are ready to bear some risk and invest a small amount regularly, mutual funds are the perfect investment option for you. The SIP and SWP plans make the mutual fund a great investment scheme for those who want to achieve their short-term and long-term financial goals.
What is the NAV?
Net asset value is the total market value of the commodities you are holding. The figure is calculated by deducting all your liabilities and adding the assets such as accrued earnings and cash. The figure you get is then divided by the total number of units.
What is the expense ratio?
The expense ratio refers to the yearly fund managing expenses of the particular scheme. These expenses include advertisement, management, and administration expenses.
Do you know where my money is invested?
It is mandatory for mutual funds to reveal their overall portfolios at least two times a year. So, yes! We know where your money is invested.
What is Lump Sum Investment?
When you choose the lump sum investment plan, you agree on making the payment in one go. If you invest all the savings at once, then you are following the lump sum investment plan.
What is SIP?
SIP is a special mutual fund investment plan where a certain amount of money is automatically deducted from the investor's bank account and transferred to the mutual funds account monthly, weekly, or quarterly. It is a great method of investing in MF without having to pay all the money in one go. Once you choose this plan, the fixed amount of money will start deducting from your bank every year.
How to Initiate a SIP?
You can either choose SIP on your own or do it as per our recommendation. The first transaction is processed through net banking. You can then submit the ECS mandate for allowing your bank to transfer money every month to a mutual fund's scheme. This way, you don't have to remember the mutual fund's transaction every month. The bank will automatically process the transfer on the pre-defined date.
What is the switch?
Mutual funds now allow investors to switch their investments from their current scheme to another. For that, they have to pay a switching fee. Investors can modify their investment plans and switch them to the scheme that suits their investment portfolio and requirements.
Can the SIP or ECS be canceled?
Yes, you can cancel the SIP and ECS by writing a letter to your bank requesting for the cancellation.
Do you need any minimum investment amount to start investing?
You can start your investment account with just 500/- if you are opting for a SIP payment plan. On the contrary, you might need 5000/- for lump sum payment.
Are there any regulations that direct Mutual Funds?
Sponsors, trustees, custodians, and asset management companies are some common names that govern and regulate mutual funds. The job of the trustees is to take care of the safety of the investors' funds by ensuring that the mutual funds abide by the current regulations.
How to obtain more info on mutual funds?
To get more information on mutual funds, investors can opt for any of the following options:
- Mutual fund platforms
- The official website of AMFI (Association of Mutual Funds in India)
- The website of SEBI
- Annual reports of SEBI
- Obtain information from MF agents, managers, supervisors, and other people related to the fund scheme.
How Secure Your Investments are?
We offer bank-grade security to our investors. We are authorized by the Association of Mutual Funds in India and registered with BSE star Mutual Funds for tight security.
How safe the payment gateway of our platform is?
We use the BSE gateway to ensure that all the transactions processed from our platform are secure and safe. As soon as you opt for the payment, you will be redirected to a page where you are asked to fill bank details and validate the transaction.
What payment options are available?
You can pay through Net banking or via the registered mandates.
Where exactly is my money invested?
All the investments made by you are held in your name. As soon as you choose an investment plan, your money transfers from your bank account to the mutual funds account directly. Once your investment is successful, you will receive an email where AMC shares the payment statement. Our platform only acts as a medium for your investments. We don't take even a minor fraction of the money you invest through us.
Can I withdraw money? Do I need to pay anything for withdrawal?
You can withdraw as much amount as you want from our platform without having to pay any fee. You can withdraw anytime you need, however, any withdrawal that takes place before one year is subject to a 1% fee by AMC.
When will the money reflect in my bank account?
It usually takes T+3 days to get money in your bank account. Sometimes, the money is transferred in 2 working days.
Is there any lock-in period? Will I have to pay a penalty to redeem before the lock-in period?
You can redeem the earnings whenever you want. However, if you have chosen the ELSS plan, there is a specific lock-in period you have to comply with. Other than that, you will pay a 1% exit load fee if you withdraw the money before 12 months. This is charged by AMC.
Can I withdraw money to a different bank account?
No. you can only withdraw the money to your bank account that you had used while making the payment. If the particular account is closed, you can submit the details of your new account.
Account Registration & Compliance Related
What is KYC?
Know Your Customer or KYC is an important eligibility criterion for mutual fund investors. If you want to invest in mutual funds, you must complete the KYC requirements. It is the identification process of the investor. You must get your identity verified in order to get started with the mutual fund investment.
Can I Invest money without KYC?
No. Every investor must be KYC compliant to become eligible for mutual fund transactions and investment.
What are the KRA regulations of SEBI?
Before KRA came into existence, investors had to complete the KYC requirements multiple times if they chose different intermediaries for mutual funds investment. But with the new KRA regulation of SEBI, the investors only need to complete the KYC request once.
Do the current investors need to re-do the KYC submission work to comply with KRA's regulation?
If your PAN card details and KYC status is present in our system, you need to do it again to comply with KRA's new KYC regulations. For those who have not yet completed the KYC requirements, you have to submit these details to comply with KRA's regulation.
What documents do I need to complete the Centralized KYC?
For CKYC, users must provide the below-listed documents:
- Properly completed and signed the CKYC application form together with a supplementary CKYC form.
- A copy of your ID proof (PAN/ voter ID/ Aadhar card/ and any other government verified proof)
- A copy of your address proof
- A photograph
What is KIN (KYC identification number)?
When you complete the KYC requirements are your form is approved, you receive a special 14-digit number by CERSAI. This number is known as KYC Identification Number. Your intermediary has to submit this number every time he tries to get access to your CKYC details.
Can KYC formalities be completed through our platform?
Yes. You can complete the KYC requirements via our platform. Our main goal is to make the KYC process easier for our investors. You can go through our KYC section and follow the instructions to complete the KYC requirements.
Why I have to upload my PAN card photo?
A pan card photo submission is a must for any investor planning to invest in mutual funds. Besides, it is a regulatory requirement.
Why do I have to upload an ID proof photograph?
To complete the KYC application, you must upload a photo of your Aadhar card, voter ID, license, passport, and other government verified ID proof. The investors who have already completed the KYC formalities and are approved for mutual fund investors don't need to submit the ID photographs.
Why do I have to upload the Address proof photograph?
To complete the KYC application, you need to upload a photo of a utility bill, passport, bank statement, and other documents where your address is given.
Why do I have to upload my photograph?
If you aren't verified for the KYC yet, you need to submit a photograph to gain approval.
Why do I have to submit a video?
According to the KYC regulations, investors have to submit a video for "In-Person verification".