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LET'S RESOLVE SOME OF YOUR DOUBTS: FAQs
Investing in Indian Mutual Funds was
painful due to tedious paperwork,
offline investments, redemptions and tracking.
How can NRIs start investing in Indian Mutual Funds?
Simply register on Upwardly and get started in under 5 mins! If you have a valid PAN Card and hold an NRE/NRO account, you can start investing through us. We at Upwardly, will also get your KYC(Know Your Customer) done, 100% online, for FREE.
What is FATCA and how is it applicable to Mutual Funds investments in India? Can US/Canada NRIs invest in Indian Mutual Funds?
Foreign Account Tax Compliance Act (FATCA) is a US government tax policy to which India is also a signatory. As per this act, the Indian Financial Institutions like Indian Mutual Funds are required to report investment transactions of US Persons and Entities to the US government. These transaction reporting is used by the US government to determine the tax liability of their persons and entities as per their domestic tax policies and laws. Due to this, all Indian Investors including NRIs are required to declare FATCA details at the time of their investments to the Mutual Fund houses.
And yes, US/Canada NRIs can invest in indian Mutual Funds.
What is the documentation required to Invest in Indian Mutual Funds for NRI Investors?
The following documents are required to invest in Mutual Funds in India:
What is the taxation for NRIs in India for investing in Indian Mutual Funds?
Taxation for NRIs for investing in Indian Mutual Funds is same as taxation of resident Indians. The only difference is that there is a 10% TDS (Tax Deducted at Source ) for NRIs at the time of redemptions.
Equity investments in India are taxed at 15% for short term (less than 1 year of holding) and 10% for the long term (more than 1 year of holding).
Debt investments in india are taxed as per the tax slab for the short term (less than 3 years of holding) and at 20% post indexation benefits for the long term (more than 3 years of holding). The tax indexation benefit is a great way to reduce your tax outgo and generate much better returns than Fixed Deposits for NRI clients.
India has signed this treaty with the US & Canada, so any tax paid in India can be claimed as relief in the US/Canada tax returns. Click here to find if your India has a DTAA treaty with your tax-residency- country.
Which bank account is required to invest in Indian Mutual funds?
NRIs can invest through either NRE or NRO account in Indian Mutual Funds. While creating an account with Upwardly, you can choose either of the two options. NRIs who wish to invest through both NRE and NRO account can invest through two separate accounts (one for NRE and other for NRO) by getting in touch with Upwardly customer care.
Choose a goal or create a custom one and our algorithm will design a portfolio personalised just for you
Invest in Systematic (SIP) plan or one-time, directly via our BSE (Bombay Stock Exchange) gateway. It's 100 % safe & secure
Sit back and relax as we monitor your investments 24x7, round the clock, till the goal is achieved
We automate sophisticated services (re-balance, accelerate or switch) so that all you do is click to approve
Upwardly's portfolio strategy, based on Nobel Prize - winning Modern Portfolio Theory, is tailored for the Indian Market.We create balanced and personalised portfolios for you based on your Investment Horizon and Risk Profile while accounting for the prevailing market conditions like Stock Markets performance(Price to Earning, Price to Book, Dividend Yield), Interest Rates, GDP growth Rates and other important macroeconomic factors.
Our proprietary investing model, based on Dynamic Asset Allocation, has consistently given substantially higher returns than the Markets over a period of two decades which includes multiple bullish and bearish cycles. We optimise your portfolio to offer maximum possible expected return for a given level of risk through careful selection of mutual funds using our proprietary ranking frameworks.
We continuously monitor your portfolio and recommend periodic rebalancing to maximise returns for you while taking into account prevailing market conditions, tax implications, switching and exit costs to meet your goals and aspirations. We offer you a flexible and convenient platform to track/switch/redeem/top up your investments at a click of a button from the comfort of your laptop or phone.
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We take security very seriously, and that is the reason why we have chosen some of the best encryption protocols in the world. Your data is safe, secure and only accessible by you.Your investments are routed through the BSE platform, and your funds do not even touch the Upwardly system. We are SEBI registered investment advisor and AMFI authorised distributor.
Your investments are held with Mutual Fund Companies, and you receive independent confirmations from them for all investments made through our platform. Also, CDSL keeps a record of all transactions made by you, under your PAN.If anything happens to us, all your investments are safe. You will receive monthly notifications from CDSL as well.
We use sophisticated algorithms privy only to Ultra-HNIs and make it accessible to you seamlessly. Our algorithm manages your investments 24x7, round the clock. Based on market conditions we re-balance, re-work your portfolio. We are 100% online, and there is no more demat account or 100 plus signatures required to get you started as we get you started in under 5 minutes!.