Scripbox Review – A review of Scripbox
Scripbox.com is an online mutual fund platform for helping investors to choose the best profitable mutual funds.
This Bengaluru based startup provides unbiased mutual fund selection tool, based on Algorithm technique of finding the best mutual funds out of 8000+ mutual fund options available in India.
How to open Scripbox account
For opening a Scripbox account, simply click the button ‘REGISTER’ provided on the site. Then, sign-up online and send the signed print-out of the form to given address along with the copy of specified KYC mentioned in the form. For SIP investments do mention the amount and frequency of your investment.
Once registered, the customer can go online and select funds from the Equities funds, Debt funds and Tax-savings fund (ELSS). Within each of these categories of funds, there are pre-selected portfolios available for investors to select. Finally, investor can decide on the Investment/SIP amount and duration (monthly or one time).
Key features of Scripbox
- A free of cost, unbiased mutual fund selection tool, based on Algorithm technique of finding the best mutual funds out of 8000+ mutual fund options available.
- Provision of good security transactions while offering solutions to investors’ problems.
- 24 x 7 support for providing solution of investor queries.
- Feature allowing management of mutual fund portfolio of one family by single log in.
- Once in a year, Scripbox do an automated review of your funds performance and make changes accordingly to your portfolio.
- For equity funds, Scripbox selects only Diversified Equity Funds. Diversified funds allocates across sectors and thus minimise the risk of over concentration in any one particular sector.
- Every year in the month of April – Scripbox also recommends their users with various tax saving ELSS funds.
Advantages of investing through Scripbox
With a single click, investors can invest in mutual funds and can get the best portfolio made for them which matches their personal goals. There is no need of registering on several websites for investment in different mutual funds.
Scripbox provides a regular monitoring of portfolio and in addition, also makes changes in the portfolio on the basis of performance of mutual funds comprised therein.
Scripbox provides unique benefit of re-balancing of portfolio and that too, in a tax-effective manner. This means that whenever an investor wishes to re-balance his portfolio, Scripbox will let him do the same without any tax or cost.
Scripbox offers easy withdrawal facility and also suggests the maximum amount available to the investor that he can withdraw without paying any taxes.
Free of cost services
Scripbox provides all the services free of cost and there are no hidden costs involved. Scripbox gets only distributor commission from the mutual fund AMCs.
Disadvantages of investing through Scripbox
Direct plan is better than regular plan
Investing in the DIRECT plans of any mutual funds will give you more returns thanks to the power of compounding compared to the REGULAR plans. If you are eager to go for DIRECT plans, then Scripbox will not be right choice for you as it is a distributor of mutual funds.
Unlike investment advisors, Scripbox services are not flexible enough to provide investment consultancy with changing circumstances.
Limited Mutual Funds in Scripbox
Currently Scripbox have limited few funds compared to fundsindia.com or other online MF platform. But most of the Investor’s prefer having a wider choice.
In the present scenario of changing financial circumstances, Scripbox offers very reliable and affordable services for investors but at the end of the day, investors will still need advice of the real world financial consultants for effective management of their investment portfolios.
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