Piggy has an extensive database of commissions rates paid to various banks and brokers. We also employ complex algorithms to predict commission rates from various data points.
From your detailed CAMS statement we know all the transaction dates, NAVs, Units allotted, Fund type etc. We employ standard industry calculation formulas for upfront commissions and trail commissions and give you an accurate picture of the money you have lost from your returns to these hidden commissions.
We also give you a prediction on how much will you continue to lose if you continue to invest in regular type mutual funds.
Upfront Commission : This is the commission that is paid to your bank/broker/RegularFundsApps as soon as you make your investment. This could range from 0.1% to 4% based on which type of fund it is and which fund house it is. Liquid Funds pay around 0.1%, Other Debt Funds ~0.6%, Equity Funds ~1.1% and Tax Saving Equity Funds ~3-4%
Trail Commission : This is the more devious one. So this is paid out on your investment every year and is calculated as a percentage amount of whatever the increased value of the investment is. So you invest once and your bank/broker/RegularFundsApps continue to earn on that investment whether you make a profit or loss. Even if they haven't done anything for you after that investment made.