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Product Details
Brokerage and Fees
  • Mutual Fund Investment Charges: INR 0.

  • Commission: INR 0.

  • Account Opening Charges: INR 0. 

Account Opening Fees

INR 0

Eligibility

Be an Indian citizen. Be above 18 years of age, Have a bank account with an IFSC code.

Annual Fees

INR 0

5paisa
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5paisa Mutual Funds Investment App Review

Special Features
  • Smart Investment Plans:  5paisa offers pre-curated baskets of mutual funds targeting specific investment goals or themes. This can be helpful for beginners who are unsure about individual fund selection.

Features
Cons
  • Limited research tools:  While 5paisa might offer some basic research tools, in-depth analysis might require using external resources before making investment decisions.

  • Limited customer support:  There have been some user mentions of limited customer support options with 5paisa.

Pros
  • Direct mutual funds:  5paisa primarily focuses on direct mutual funds, which come with lower expense ratios due to the absence of commission fees paid to distributors. This translates to potentially higher returns for you over time.

  • Wide range of options:  They offer various mutual funds from various Asset Management Companies (AMCs), catering to diverse investment goals and risk tolerances.

  • User-friendly platform:  5paisa's platform is known for its user-friendly design, making it easy to navigate, research, and invest in mutual funds.

  • SIP (Systematic Investment Plan):  The platform allows setting up SIPs, which can be a great way to invest regularly and potentially benefit from rupee-cost averaging.

Pros and Cons
How to Apply?

Ways to open an account with 5paisa:

1. Online through their website or app:

  • Website:Go to the 5paisa website (https://www.5paisa.com/demat-account)
    Click on "Open Your Free Demat Account"
    Follow the instructions, entering your mobile number and email for verification.
    Provide your PAN and bank details.
    Upload the necessary documents via DigiLocker.
    Take a selfie and e-sign the form.

  • App:Download the 5paisa app from the Google Play Store or Apple App Store.
    Choose the option to “Open Demat Account."
    Follow the on-screen instructions to complete the process.

2. With assistance from a 5paisa executive:

  • App:Similar to the online process, you can choose the option to "Open Demat Account" in the app.
    A 5paisa executive will contact you to guide you through the process.

  • Website:
    Alternatively, you can initiate the process on the website, and a 5paisa executive will get in touch to assist you.

Documents Required

Aadhaar and PAN for online account opening.

Account Opening and Procedures
5paisa Mutual Funds Investment App Review

5paisa can be a compelling platform for cost-conscious investors seeking a user-friendly experience with access to direct mutual funds and low investment charges. However, be aware of the limitations in terms of research tools, and potentially limited customer support.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
Recommedation For Stock Market Investment

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