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Asked a question 2 years ago

Hi, Can we transfer existing mutual funds to FYERS Demat? If so, what is the process to do it?

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Reshma BFYERS TEAM
Head of Operations and Compliances

Yes, you can.

If Purchased Mutual Funds in Demat mode: the process is simple, ask your existing broker to give you a DIS slip. In DIS Mention the units you have to transfer, mention your Fyers Demat account number, and submit it back to the broker.  Usually, within 24 hours the units get transferred.

If purchased Mutual Funds in Non-Demat mode: In this case, you will have to dematerialize your mutual fund investments. Once dematerialized, it will start showing up in your Demat

To know more about Direct and Regular Mutual Fund Click here139

Note: If the Mutual funds are in the Lock-in period, then you will not be able to transfer the units.
 

Hi Pranav,

Transfer of Mutual Funds from other brokers to FYERS is similar to the Transfer of Shares. You can request for a DIS from the other broker (It'll be sent to your Email/Address), mention the units you wish to transfer. Attach the CMR of your FYERS Demat (It'll be in the Welcome mail when you'd opened the account in FYERS) along with the duly filled DIS and send it to the other broker. The said Mutual Funds will be transferred to your FYERS Demat based on the timeline given by the other broker (Generally, 24-48 hours).

Note: The Transfer procedure may differ from Broker to Broker. Kindly check with the other broker, just in case.

Hope this helps :)