Mutual Funds - FAQ

Commission Rates

We are registered with Reliance Nippon Life Asset Management. Ltd as Channel Partners. Below is the commission we earn from them for - Reliance Liquid Fund - Grown Plan (Regular):

Upfront Commission: 0%

Trail 1st Year: 0.05%

Scheme Information Document for - Reliance Liquid Fund - Grown Plan (Regular)

Why doesn’t Base offer Direct Mutual Funds?

If we were to offer Direct mutual funds purchase, we’d have figure out other ways to make the product self-sustainable. Most typically, as we’ve seen from other companies, these include relying on upselling other financial products like insurance (which we aren’t really keen on) or using our users’ data creatively. It’s hard to adopt these methods without putting the users at a deep disadvantage in some way or other; plus, in the long term, users often end up paying a far higher price than the actual cost they would have otherwise paid.

The regular method is straightforward (especially for our use case of relying on a low risk, liquid fund) and doesn’t involve any mental acrobatics. Moreover, the lack of upfront commission and only trail commission earning ensures that we are incentivized to earn your money the highest returns in long term.

Redemption and purchase of Mutual Fund Units, Timelines and more

Base works with Reliance Nippon Life Asset Management. Ltd to facilitate purchase and redemption of the funds saved in a Mutual Fund folio, according to the rules and constraints set by the AMC (Reliance) and SEBI.

Purchase of Units

If the user has provided Base with a mandate/standing instruction to debit their bank account, Base accrues the triggers for the entire week and issues a debit request during banking hours in the beginning of the week. We place the order for the purchase of units only after a receipt of money transfer has been received from our payment partner. Please note that this can take 2-3 days to be executed. In the event that a e-mandate approval and / or triggers are received on a day the market isn’t open, the related orders are placed the next business day.

If the user has not provided Base with a mandate/standing instruction, Base provides the user with an email with a link to a payment portal operated by Reliance (AMC)

The process of purchase and redemption will be governed by rules and restrictions set by the AMC (Reliance) and SEBI.

Redemption / Withdrawal of Units

Users can initiate the redemption of their Mutual Fund holdings for the units in the folio created through Base.

The AMC (Reliance) provides a insta-redeem option to liquidate Rs 50,000 or 90% of holdings (50% if a card is attached to the folio) within 30 mins.

However this is a service offered by the AMC and Base does not control the timelines of redemption. In most cases the redemption occurs within 1 business day - not counting the day the redemption request has been placed.

Example: If you place a redemption request for Rs 1000 on a Friday, you can expect the redemption amount to hit your bank account on or before Tuesday ( assuming Monday is a working day )