Bank of India Mutual Fund
Bank of India offers mutual fund products via its subsidiary Bank of India Investment Managers Private Limited. The AMC has over 15 years of experience in the fund management business. The total assets under management of this fund house stood at Rs. 5,225.12 crore as of September 2023. It has 12 branches and over 3.4 lakh investors across India.
Bank of India offers different types of mutual funds managed by fund managers with excellent track records. It offers 18 mutual fund schemes across equity, debt, and hybrid categories. Currently, Bank of India mutual fund offers 7 equity, 5 debt, and 4 hybrid schemes.
Best BOI AXA Mutual Funds
List of Fund Managers
Key information about Bank of India Mutual Fund
Bank of India Investment Managers Private Limited, B/204, Tower 1, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013
1800 - 266 - 2676
1800 - 103 - 2263
Ms. Roshni Pawar
2261249024
Compare Bank of India Mutual Fund (Formerly known as BOI AXA Mutual Fund) with other AMCs
Factors to Consider before Investing in Bank of India Mutual Funds
Here are some factors you must consider while investing in a Bank of India mutual fund:
Experience of the fund manager
The fund manager is responsible for looking after your mutual fund portfolio. A manager’s experience and professional track record will help you judge his or her calibre. The professional qualifications of the manager can play a decisive role in a scheme’s performance.
You can check the investment performance of Alok Singh, a fund manager at the Bank of India mutual fund. He has over 20 years of experience and has previously worked with BNP Paribas Asset Management.
Past performance
You should analyse how the scheme has performed in the past to understand its future potential. This will help you predict its returns and compare it with other mutual fund schemes.
The Bank of India Flexi Cap Fund Direct-Growth has given a compound annual growth rate of 28.8% over the past 3 years.
Investment duration
Different schemes are suited to different durations of investment. Some schemes will give you good returns over the long term, while others are best for short-term investment. Studying the scheme’s objectives will help you choose a suitable investment.
Expense ratio
It is the fees you have to pay for the management of the mutual fund. Consider choosing a fund with a low expense ratio. By doing so, you will not burden your finances resulting in higher net returns.
Exit load
It is best to invest in a fund with a low or zero exit load. Otherwise, you may have to pay a significant amount to withdraw your investment.
How to Start Investing in Bank of India Mutual Funds with INDmoney
After you have understood how Bank of India Mutual Funds are, it is time for you to start your investment process with INDmoney. Below are some simple steps to follow to start your mutual fund's investment journey with us.
Step 1:
Download the INDmoney app and create your free investment account by completing your KYC ( Know Your Customer).
Step 2:
Once your Free investment account is ready, you can either search for a Bank of India mutual fund or go to the mutual fund section.
Step 3:
Choose any Bank of India Mutual Fund by looking at aspects like past returns, volatility, downside capture ratio, AUM, Expense ratios and underlying stocks and sectors.
Step 4:
You can choose to set up SIP in any Bank of India Mutual Funds or even invest as lumpSum. Once you are on the individual Bank of India mutual Fund page click from the bottom “One-time” for lump sum investment or “SIP” for systematic investment plan.
Step 5:
Choose the amount that you want to invest as SIP or LumpSum.
Step 6:
Set up payments. If you choose to set up SIP in any Bank of India mutual funds, you can do a free automatic pay set up via bank mandate or UPI. If you choose to invest in lumpsum (one-time) then you can pay via UPI, netbanking, NEFT or RTGS.
Frequently asked questions
You can calculate the Daily/ Weekly/ Monthly/ Quarterly SIP Amount for all BOI AXA Mutual Funds using INDMoney’s BOI AXA SIP Calculator
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are the five top-performing mutual funds of Bank of India
Like all mutual funds, Bank of India’s mutual fund business is regulated by SEBI. In that sense, it is safe. As far as the returns on your investment are concerned, nearly all mutual funds carry some market-related risks. You must do a thorough analysis of a scheme to know how much risk it carries.
It offers 16 mutual fund schemes. It includes 7 equity schemes, 5 debt schemes, and 4 hybrid schemes.
The taxation rate will depend on the type of scheme you have invested in and the investment period. Depending on these 2 factors, either short-term capital gains tax or long-term capital gains tax will be applicable.
You can request a mutual fund statement by logging into the bank’s online portal. You can also use the INDmoney app to download your mutual fund statement.
Some of the factors you should consider for investing in a mutual fund are:
- Experience of the fund manager
- Past performance of the fund
- AMC’s reputation
- Your risk appetite
- Investment horizon
- Portfolio of the scheme
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