Roll a dice! You can buy Direct Funds in ICICI-Direct as many times as you can get the number “7” on the roll. It is just NOT possible.
Like many other apps and websites, ICICI Securities which runs “the ICICI-Direct” Platform is a BROKER. ICICI Bank and all other Banks are also brokers when it comes to selling mutual funds.
Any scheme that you buy having the word “Regular Plan” means you are paying commissions to the broker.
Is there anything wrong with being a broker? Nah? ICICI has great technology. I served as the CIO for the ICICI general insurance company for 3 years and can say that the Group invests well in technology.
But as a investor, you need to be aware of the commission that is taken each year from your invested money. Every year 1% to 1.5% means that over 20 years are giving away 30%–40% of your money to the brokers. Brokers is not just ICICI-Direct but all other apps like FundsIndia, ETMoney, Scripbox etc.
Alternative?
Direct Mutual Funds. Try https://jama.co.infor a 0% commission investment experience that is paperless, safe, unbiased and convenient!
Where else can i buy Direct Mutual Funds?
Check the other Quora thread on this
