Can I transfer mutual funds to my wife?
Explanation: The scenario mentioned above is not practically possible since MFs can’t be transferred from one holder to another. Also, they can’t be gifted by one person to another. John’s wife would have to first transfer cash to John’s account (or an account in which John and his wife are joint holders).
Can mutual funds be transferred from one demat account to another?
Yes. You can transfer Mutual Fund Units from one demat account to another demat account (i.e., transfer between DPs of NSDL) or from demat account of one depository to demat account of another depository except for Mutual Fund Units which are under locked-in (say ELSS units).
Can I transfer shares from one demat account to another?
There are two ways to transfer your shares or holdings from one Demat account to another. Trading through a Demat account is just like making transactions through a bank account. The only difference is that you transfer shares through the Demat account instead of money.
How do I transfer mutual funds to another account?
To transfer your mutual fund and other investment holdings, set up a new brokerage account and complete the account transfer request form. The transfer form will ask you where your mutual fund shares are held, at the brokerage or at the mutual fund company.
Can mutual funds be jointly owned?
While the mutual fund can be held jointly, operating it and redeeming it can either be done jointly or by either of the investors. If nothing is mentioned, it is taken as joint ownership as default, which means both or all the individuals need to sign every time they wish to purchase or redeem mutual fund units.
How can I transfer my mutual fund to demat account online?
How to convert existing investment in mutual fund units to demat form?
- Obtain Conversion Request Form (CRF) from your DP.
- Fill-up the CRF and sign it.
- Submit the CRF along-with the Statement of Account to your DP.
Does Zerodha charge for mutual funds?
Zerodha doesn’t charge any commission for investing in Mutual Funds. Zerodha launched the Coin platform for direct mutual fund investment in April 2017. By investing in direct mutual fund schemes, investors can save significantly on commission paid as against buying regular mutual funds.
How do joint holders invest in mutual funds?
Generally, it is better to open an account or a folio with a mutual fund with the joint holder’s name mentioned in the form at the initial stage itself. If not, one way out to add joint holders is to open a joint demat account and then give a request to the fund house to convert the units into dematerialised form.
Can a mutual fund be in two names?
A joint holding can be between two individuals or a maximum of three account holders. To invest under joint names, all the investors should be KYC compliant. If one of the investors is not KYC compliant, then he/she cannot be added as the joint holder.