Query regarding mutual funds

131°
Deal Cadet
Mk07
I'm buying mutual funds via paytm money app and now if I want to sell them from other apps like groww, indmoney, mfcentral, etc then will there be any extra charges other than STT, exit load, tax?

One issue with paytm money is that, there is not a simple process to change primary bank account and with above mentioned way, I can easily redeem funds in any of my bank account.

Thanks!!
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Talk-Of-The-Town Talk-Of-The-Town
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Are ur MF in demat or not?

Deal Cadet Deal Cadet
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I'm not sure about that. I have bought direct mf via paytm money.

Deal Lieutenant Deal Lieutenant
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I don't think cross platform selling is allowed.

What you can do is directly sell through company instead of paytm money.

All charges which were previously applicable will be applicable.

Deal Cadet Deal Cadet
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In groww app, I tracked all my mf investments made via paytm money and I can see the option to redeem funds in groww app itself.

My friend tracked his investments in ind money app which he purchased via paytm money app and redeemed via ind money only.

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Benevolent Benevolent
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try mf central app/website to sell the mutual fund 

Deal Cadet Deal Cadet
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Just for verifying this, I made a redemption of just 100 rs. from mfcentral app and now it's in processing stage.

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Finance Ninja Finance Ninja
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I'm buying mutual funds via paytm money app and now if I want to sell them from other apps like groww, indmoney, mfcentral, etc then will there be any extra charges other than STT, exit load, tax?

NO CHARGES! I redeemed mine recently

One issue with paytm money is that, there is not a simple process to change primary bank account and with above mentioned way, I can easily redeem funds in any of my bank account.

I even mailed there CEO of Paytm Money but they said cant do it although Its better to Opt for Other Mutual Fund Apps like Groww or ET Money

Deal Cadet Deal Cadet
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Now they are giving one option to change the primary bank account, I have updated the bank account.

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