Folio Number: Meaning, How To Check, Benefits, Relevance
Moreover, you can also call or email customer care of AMC to learn about the mutual fund folio status. The customer care representatives will ask for your details, and post-verification, you will get the information you need. Before you begin investing, you need to complete the KYC formalities.
How to Check Mutual Fund Status with Folio Number?
The bank assigns this number to customers, like an identification number unique to the account holder. Similarly, fund houses as well allot such a number to every mutual fund investor, and it is called the Folio Number. Some of the investors keep buying mutual funds with different folio numbers. However you can request anytime your mutual fund distributor or AMC (Asset Management Company) to consolidate all your holdings into a single folio number.
You can request AMC to consolidate all you holdings in a single folio. One of the most efficient ways is to opt for a consolidated statement across registrars. You can look at the mutual fund folio number as almost identical to a bank account number. The AMC will use the folios number as the reference point to check the holdings which are linked to the particular folio number. Whether it is your demat account for equity investments or your mutual fund folios, these depositories collect and store all the details. When you purchase a mutual fund, you are assigned a “folio” number by the mutual fund company (also called AMC or asset management company).
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Be a part of 5paisa community – The first listed discount broker of India. You can also call the AMC’s toll-free number, send them an email or visit the office to get the folio number. Now that you know the benefits of having a folio number, the next step is to locate it.
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Subsequently, you can use this number to get the entire investment details. You will be able to get the mutual fund statement using the folio number anytime you want. Whenever you invest in a mutual fund, the AMC opens a folio in your name and assigns a unique number. It is linked to your Permanent Account Number (PAN) and can be used to track all your mutual fund investments with that AMC. Here are some of the most popular ways through which investors can check their mutual fund status with the help of folio number.
On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others. If you are not too techno savvy, then the option is to walk into the AMC office and get the statement printed by providing details like folio number and PAN. The AMC will help you to track and know the status of all your investments for that folio. However, if you have MF investments across multiple AMCs, then sbi mutual fund statement by folio number it is cumbersome as you must approach them separately with respective folios.
They ensure organized record-keeping and simplifies dispute resolutions. Receiving a folio number requires an initial investment, and combining holdings under one number is possible. Folio numbers are essential for managing investments, with various ways to retrieve them. Having your folio number handy enables monitoring investment performance and informed decision-making.
What is a mutual fund folio number? How to get a folio number?
Any subsequent fund you buy from the same AMC, be it same scheme or difference scheme, you can use the same folio number. You might have multiple folio numbers for your investments in the same mutual fund. It happens when you buy extra units in the fund via different modes like online, offline, or via a broker. Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP.
- What is also visible in the last few years is the rising awareness among investors about the merits of investing in mutual funds and staying put for the long term.
- Any subsequent fund you buy from the same AMC, be it same scheme or difference scheme, you can use the same folio number.
- However you can request anytime your mutual fund distributor or AMC (Asset Management Company) to consolidate all your holdings into a single folio number.
- An investor can make multiple purchases by using the same folio number.
This will allow you to check the performance of your mutual fund investments and take informed decisions accordingly. If you haven’t considered mutual funds as a good investment avenue, then now is the time. ClearTax Save is a convenient option as we have hand-picked best-performing funds from India’s top AMCs.
This means that you will have to provide your identity, address and your bank account details to the AMC. Once approved, the AMC opens a new folio in your name and allocates the folio number. When you invest in a mutual fund, you are assigned a folio number that you can use to keep track of your investment. In these situations, the advisor can help get in touch with the concerned AMC or registrar and provide you the details.
You can use any of the following sources to identify your unique folio number.
When a mutual fund investor purchases a fund, a folio number is assigned by the asset management company. An investor can also have different folio number for different funds. But having a single or unique folio number per customer helps both mutual fund organization and the investor to track the holdings or investments.
Even before checking account statements using folio numbers, the primary question is where to locate the folios number. Of course, it is always advisable to maintain an online and offline record of all your folio numbers, account numbers, credit card numbers etc for safe and easy access. But even assuming that you have not kept such a record, locating your folio number is quite simple. The folio number is a unique identification number for checking mutual fund status. But an investor can merge different folio numbers into one by contacting the AMC.