Frequently Asked Questions

The App is not working for me. Who should I get in touch with?

If you have any complaints, suggestions or feedback we are happy to help. Send us an email at hello@educationfund.in providing details of the issue/s you are facing.

How do I track my investments on the App?

You can track your investments right on the App. Go to Home --> Your child’s education plan

Where can I access the terms and conditions, privacy policy &
other legal information about your company?
What documents do I need to get started?

If your KYC status is verified, we only need the following -

  • PAN Card image
  • Aadhaar Card image
  • Cancelled cheque image
  • Signature image

The whole process is digital and takes only a few minutes. If your KYC status is unverified, then you need to first register with us to complete the KYC process.

How does KYC registration work for EduFund?

In order to complete KYC, you need-

  • PAN Card image
  • Address Proof image (Passport, Driving License, Voter ID and Aadhaar Card)
  • Cancelled cheque image
  • Signature image
  • Passport photo
  • Verification of OTP via a video recording

The whole process is digital and takes only a few minutes.

What is the minimum investment amount, I can invest?

You can start investing with just Rs. 10,000 every month, in Indian mutual funds (SIP).

Will I get investment confirmations from asset management companies?

Yes, you will receive confirmation on your email registered with us, from individual funds that are part of your portfolio when you invest in Mutual Funds.

How can I change the date of investment for an ongoing SIP?

We have an easy process, to change the date on which your SIP payment is done, on our App.

Can I transfer my investment from one scheme to another?

Since investing in Education is a long-term plan, we recommend that you look at long-term returns before deciding to switch funds. We do provide you with an option to switch funds, if you need to, on the app. The entire process usually takes around 3 days.

Can I invest on behalf of a minor?

Currently, we do not provide this option.

What will happen to the mutual fund investments when the minor attains major status?

Since we don’t offer any plans for minors, currently, mutual fund investments can only be made by you for your child. You can transfer the money obtained from these funds from your account to your child’s bank account, when he/she attains major status.

Can I cancel my SIP anytime?

Yes, you can. If you want to stop investing on a monthly basis you can send a ‘Stop’ request to us on the app itself. We will initiate with the respective mutual fund and get your payments stopped. Since this process may take a few days, your next SIP payment maybe processed before the SIP is cancelled. So please take the processing time into account, when you cancel your SIPs.

How does EduFund’s advisory fee work?

EduFund’s pricing is transparent and clear without any hidden fees. We charge an annual advisory fee that is 0.4% of the money you invest with EduFund. This amount is billed quarterly once you start investing on our app and agree to this pricing. To avoid any confusion, we have made sure that we don’t deduct it from your investment amount and charge it separately.

My money is successfully transferred but the investment transaction failed, when will I get the refund?

If the transaction failed, then the money will get reversed to your bank account. This is done automatically and should happen in 24-48 hours. In the rare case that the amount does not reflect in your account, you can get in touch with your bank to get the issue resolved.

How do I redeem my investments?

Redemption option is available on the app for mutual fund SIPs and ETFs. Every mutual fund and ETF will have a different timeline for processing redemption requests.

How is EduFund regulated?

The investment advice provided on the EduFund platform is by a Registered Investment Advisor (RIA), licensed under Securities and Exchange Board of India (SEBI).

How is this different from investing in mutual funds or ETFs on any other platform?

Unlike other goal-based platforms, EduFund is an advisory app, focused on education. Our proprietary investment algorithm offers customized investment options based on your goals. Navigate through the rising costs of education with the EduFund College Calculator. To give you a realistic estimate, our unique College Calculator takes into account many important factors like-

  • Inflation rate
  • Country you choose
  • Degree or preferred Program
  • Preferred University

Additionally, you can track your progress and celebrate milestones using our app.

I already save in a children's plan with a top Indian FI, do I still need this?

If you want to give your child a debt-free future then having a dedicated corpus for your child’s education is important. EduFund gives you personalized investing options based on your child's education goals.

Is it legal to invest abroad?

Yes, it is legal to invest abroad. As per the RBI’s Liberalized Remittance Scheme (LRS) guidelines, an Indian resident can remit up to USD $250,000 abroad on an annual basis, without requiring prior approvals from any government agency. The LRS specifies the countries that you can send money to or spend in and also the types of activities that are permitted. You can invest in shares/debt instruments within the mentioned limit.

Click to get more details

What is an ETF?

An exchange traded fund (ETF) is a collection of assets —such as stocks—that often tracks an underlying index, similar to an index mutual fund. However, ETFs can be traded on stock exchanges like stocks unlike MFs that only trade once in a day. ETFs may use various strategies and offer different options to investors, but the most popular ones are the ones that are built based on the composition of an index. E.g. – NIFTY50 and NASDAQ-100 Index-Tracking Stock.

Why should I invest in dollars for my child’s education?

Investing in dollars improves your chances of getting higher returns, over a 15-20 year period, compared to investing all your money in rupees. The dollar has consistently shown good performance against various currencies, worldwide. So, returns in dollars, will help you in sending your child to the best colleges, globally.

Does EduFund allow me to invest in different currencies?

Yes, you can now diversify your portfolio with the EduFund app. You will be able to invest in US Dollars too, very soon, when we launch ETFs. Stay tuned, for updates.

How do I fund my US brokerage account?

You can fund your US brokerage account from your Indian bank account. We will assist you in the entire process of setting up this account from start to finish, without any hassle. So, you can start investing abroad, from the comfort of your home. Stay tuned for updates on ETFs to be launched soon on the EduFund app.

Do I need a bank account overseas? I only have Indian bank account

An Indian bank account is all you need. You don’t need an overseas bank account to invest in mutual funds or ETFs. In case of ETFs, based in the US you will need an account with a US broker dealer and we will help you set it up, easily. ETFs are ‘coming soon’ on the EduFund app.

Do I pay tax in India and USA both?

No, you only pay tax in India, as per the government regulation on the instrument you are investing in. This is applicable to all your investments – Indian and foreign, unless you are an NRI residing outside the country. It is highly advisable to speak to your tax advisor too who would be aware of any specific tax clauses that maybe applicable to your specific circumstances.

What is the right age of my child to start planning for their higher education?

The best time to start planning is now. The sooner you start investing the better it is. Even small investments you make every month, grow significantly over a period of time.

My child is young and I’m not sure which university or country to select. How can you help?

EduFund gives you access to highly-experienced and reputed counsellors who will personally guide your child and clear any confusion. Login to the EduFund app and schedule a session with an expert counsellor of your choice.

How much does EduFund charge?

The annual subscription fee, is just Rs. 1080. Click here for more details.

Are my investments and data safe?

At EduFund, we value your trust and your account is protected by state-of-the-art security measures. Transactions made through our app are done with 128-bit SSL security. With bank-grade security in place, investing through EduFund is completely safe.

However, investment in mutual funds are subject to market risk.