scripbox logo

axis mutual funds for us nri

Invest in the best mutual funds recommended by Scripbox that are scientifically and algorithmically selected that best suit your needs. Let’s take a look at the top mutual funds to invest this year. Be it long-term, short-term, tax saving or your emergency needs. We have you covered.

Scripbox algorithm recommends 2-4 funds for investment for an investment asset class such as large cap, diversified, liquid etc. When you invest for an objective, the algorithm suggests the appropriate asset class and funds.

ABOUT AXIS ASSET MANAGEMENT COMPANY LIMITED

Axis Asset Management Company Limited manages assets worth 186,539 crores and was set up on 13 January 2009. It’s current offering of mutual fund schemes includes 30 equity,93 debt and 35 hybrid funds.See top Axis Asset Management Company Limited funds

Axis Asset Management Company Ltd. is the mutual fund investment division of Axis Bank. Axis bank holds a 74.99% share in the AMC, and Schroder Singapore Holdings Private Limited owns the remaining 24%. Axis Mutual Fund (Axis MF) launched its first scheme in 2009.

axis logo

Funds recommended by Scripbox for 2021

Axis Liquid Fund (G)

Axis Liquid Fund (G)

Liquid

Recommended

Top Ranked

₹ 23,571 Cr

Fund Size

5.9%

3Y returns

Axis Bluechip Fund (G)

Axis Bluechip Fund (G)

Large Cap

Recommended

Top Ranked

₹ 21,867 Cr

Fund Size

17%

3Y returns

NRI Mutual Funds Questions & Answers

Frequently asked questions

Can NRI invest in Axis Mutual Fund?

NRI can invest in Axis mutual funds provided that the NRI is already having an Axis bank account and is a KYC compliant.

Can US residents invest in mutual funds through Axis Bank?

Axis Bank mutual fund investment is not open for US and Canadian citizens though it is available for all other NRI provided that the applicant is KYC compliant and already existing Axis Bank account holder.

What happens to mutual funds when you become NRI?

Any mutual fund held by an investor remains unchanged after the change in the residential status of the investor. Once an investor becomes an NRI for India, he/ she must ensure to:

  1. Change the residential status to NRI and update the KYC details
  2. Pay taxes as per the rules applicable to an NRI taxpayer

Lastly, many AMCs do not allow an NRI to purchase/ switch mutual funds. Hence it is important to update the KYC compliance.

Do NRI pay tax on mutual funds?

Taxation for NRIs investing in Indian Mutual Funds is the same as taxation of resident Indians. The only difference is that for NRIs, there is a TDS of 15% for short term (< 1 year) and 10% for long term (> 1 year) in the case of Equities and a TDS of 30% for short term (< 3 years) and 20% post indexation benefit for long term (> 3 years) in case of Debt/Gold funds at the time of redemptions.

What are the best investment options for NRI?

There are several investment options for NRI in India like the ones for Indian residents, some of those options are:

  1. Fix Deposit Bank Accounts: Providing interest better than interest on saving account balance 
  2. Mutual Funds: Invest in mutual funds after analyzing your financial goals
  3. Direct Equity: An investor must gain a good understanding of the market before investing
  4. Real Estate: A better investment option for long term investments
  5. Bonds and Non-Convertible Debentures (NCDs): NCD is another option for NRIs who are looking for investments apart from mutual funds or the stock market.
  6. Certificate of Deposit: These are basically short term investments for retail investors with fixed returns
  7. National Pension Scheme (NPS): NPS is a retirement plan. The maturity benefits from an NPS are taxable.
  8. Government Securities: Government securities are generally considered a low-risk investment.

Can foreigners buy Indian stocks?

NRI can invest in stock markets after opening a Non-Resident External (NRE) Account with an RBI-approved bank and can only have a single PIS Account for investing in stock markets. The Foreign Exchange Management Act (FEMA) has stipulated several rules for NRIs to invest in Indian stock markets via the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) regulates the PIS.

Can I invest in India from the USA?

Yes, an NRI can invest in India from the USA. However not all investment options are open for USA and Canada Residents. Any investment especially from the USA and Canada is subject to regulations that the NRI has to be compliant with.

Is Axis Mutual Fund Safe?

Axis Mutual fund is safe and supported by Axis Bank. It has several investment options like Equity funds, hybrid funds, ELSS funds, Mid-cap funds, Large-cap funds, and others.

Why NRIs should invest in India?

India is one of the fastest developing countries of the world attracting a lot of NRIs to invest, for a secure future. This is also one of the best ways for NRIs to stay connected with their motherland and help the Indian economy. A wise decision now will not only help you secure your future but also ensure handsome returns. 

How many shares can I buy maximum in India?

There is no limit for purchasing shares in the stock market. However, limitations might be set independently by the company to make it difficult for a single investor to purchase over the accepted number of shares. The maximum number of shares that can be purchased in one order is 9.99 lakhs yet, there is no limitation on the number of orders placed.