Find you question from below or Ask your questions to our experts.
  • Is there any tax on Mutual Funds?

    Long term Capital gains tax (if held for more than a year) for equity mutual funds is 10%. Short Term Capital gains tax (if held for less than a year) on equity mutual funds investments is 15%.

    For debt mutual funds, Long Term Capital gains tax (if held for more than 3 years) is applicable. You have two options here. You can use tax indexation, and then pay 20% tax on the gains after indexation. Or if you do not choose to use indexation benefit, you can simply pay tax at 10%.

    For Short Term Capital gains tax (if held for less than 3 years) are added to your income and taxed as per your income slab rate.

    Ocean Finvest would provide you Capital gains statement to assist you in your tax computation.


  • How would I know that my investment has been done once I have transferred the funds or my bank account has been debited through a SIP Mandate?

    Once your investment is made, you would be receiving a confirmation from both Ocean Finvest as well the AMC through email and SMS. You can track your investments on the Ocean Finvest dashboard. Additionally, the AMC would also be sending your account statement at the email ID provided by you. You can view your account on the AMC website. You can note your folio number on both these platforms. The AMC generates your folio number, and it is your account number with the AMC (just like your bank account number with your bank). If you face any issues, then please do email us at support@oceanfinvest.in.


  • When are the Mutual Fund units allocated to me?

    Once you have placed your orders at our platform and transferred funds through lump sum / SIP investment, the same are sent to the Asset Management company. The AMC does the fund units allocation. Allocation of units by AMC is subject to realisation of funds at their end. There is also daily deadline given by Asset Management company for placement of these orders and funds. These deadlines and turnaround times (TAT) are different for different for different kind of funds (Equity, Liquid, Debt, etc.). Typically, the fund units can be allocated to you between Tth day (same day as the day of the transaction) to T+2 day ( 2 business days plus the day of the transaction). .


  • I have redeemed/sold my mutual fund, when can I expect my money to come to my bank?

    There are deadlines imposed by AMCs for redemption orders depending on the type of fund. Ocean Finvest processes your redemption requests and send them to the AMC based on those deadlines. Depending on the type of fund and the timing of your placement of the order, the credit to your bank account would be done by the AMC between T+1 (one day after placement of redemption request) to T+3 days (three days after the placement of the redemption request). However, some mutual fund schemes invest in international markets than can take up to T+8 days to credit funds in your bank account.


  • How can I make another investment in the same fund that I am already invested in?

    All your currently invested funds are visible in your ocean finvest dashboard. You can click on the INVEST tab on the fund visible in your dashboard and make more investments. You can transfer funds through the payment gateway using Net banking.


  • I need to cash out. How can I redeem my current investment? Can I also do a partial redemption?

    All your currently invested funds are visible in your ocean finvest dashboard. You can click on the REDEEM tab on the fund visible in your dashboard and redeem your investment in partial or full. For partial redemptions, you can specify the amount or the number of units you want to redeem. The money would be credited to your bank account as per the scheduled time by the AMC.


  • What is the minimum or the maximum amount that I can invest in a fund for a Lump sum or SIP investments? Are there any limits to the payment gateway transfer?

    Each and every mutual fund scheme has a minimum and maximum amount stipulated by the AMC for both Minimum and Maximum investments. These minimum and maximum limits are specified on the mutual fund scheme page as well as the investment page by ocean finvest. These limits can be as low as Rs 100 for SIP investments and Rs 500 for lump sum investments. The maximum limits are typically in crores. At times, fund houses can also put restrictions on the maximum amount of the lump sum or SIP investments. The same would be updated by ocean finvest on our website on the best effort basis. In addition to these limits, your bank could also have a maximum limit on the payment gateway transfers. You can easily increase these limits online on your net banking website by logging into your bank internet account. For some banks, you may be required to visit your bank branch or call on the phone banking numbers to increase these limits.


  • Can ocean finvest transact on my behalf and invest or redeem without my consent?

    Each and every transaction in your account (purchase/redemption/switch etc.) can and will only be done at your explicit order either online or offline. We do not execute any order without client’s consent.