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FAQs |
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If you have any queries that
are not answered here, please call
us.
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Who
can open a Investment Services account?
- All Customers having a HDFC Bank Savings Account can register
for Mutual Fund Investment Services Account.
- NRI customers having a saving bank account can also avail
of this service.
- The Savings Bank account status has to be single or Either/Survivor.
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How
can I register for this service?
- To register for this service, fill in a Investment services
account opening form that is available in any HDFC Bank
Branch or contact your Relationship Manager for the same.
- Fill in all details in the form with the requisite documents
(as given below) along with details of the bank account
that has to be linked with your Investment services account.
Submit this form to your RM or drop it at the branch.
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How
can one "Buy"/"Sell" Mutual Fund's?
Once you are Registered for Investment Services Account, you
can start placing orders to buy/sell MF through NetBanking services offered by HDFC Bank.
Investing
through Net Banking.
- You will have to login with CUST ID and Internet Password
to place orders for Mutual Funds on the website.
- You can view their Mutual Fund Holdings with their present
market values on our website.
- Cut-off Time on NetBanking Channel for Same Day NAV for
Mutual Fund transactions will be 2 p.m.
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What
if I forget my customer ID/ IPIN number?
The customer id is available on the welcome letter or can be
obtained from the branch. The IPIN (NetBanking password) can
be regenerated by downloading 'Password Regeneration Request' from HDFC bank
website and submit it in the branch. The new IPIN (NetBanking
password) will be sent to the customer by post.
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What
are the schemes available to the customers?
Only Select schemes of select AMC's are currently available
for transactions done through NetBanking. The
list of the schemes is available on the HDFC Bank's website.
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How
do I buy Mutual Fund over the Net?
To invest through NetBanking Log onto www.hdfcbank.com
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How
do I redeem Mutual Fund units over the Net?
Only Mutual Funds that are bought (purchased) through the Investment
Services Account can be redeemed through this service.
On NetBanking.
- To redeem Mutual Fund the customer has to login to the
website with your Cust Id and IPIN.
- Click on the redemption link and then select the Investment
Services Account No. from the drop down and the Mutual Fund
that you want to redeem.
- Select the Scheme name and the Amount or number of units
of redemption in the next screen keeping in mind the minimum
transaction amount. The customer can choose to redeem fully
OR partially by specifying the number of units and amount.
- The transaction will be processed and the redemption proceeds
will be directly credited into the bank account.
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Can
I cancel the transaction ?
No cancellations are allowed once the transaction is placed.
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After
the First purchase , can the customer invest in the same AMC
again on the same day?
After your first purchase you will not be permitted to transact
for a period of 4 to 7 days depending on the processing time
of the Mutual Funds' Registrar. After you place an investment
order in any Mutual Fund for the first time a Folio Number is
generated for that particular fund. Until the Folio number is
generated you will not be allowed to place any further orders
for that particular Mutual Fund. After the Folio Number is generated
you can place any number of order in any schemes of the Mutual
Fund.
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What
is the cut off time to send the details?
Cut-off time for same day NAV is 2.00 pm for NetBanking .All instructions received on transaction day before
the cut-off time will be eligible for same day's NAV (except,
Saturday, Sunday and Holidays). For transactions post cut-off
time applicable NAV will be as on next working day.
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I
do not have an account with HDFC Bank, but would like to invest
in Mutual Funds. What do I do?
You can contact any HDFC bank Branch to open a Bank account
and once the processing of your form is completed, you can fill
in the application form for the investment services account.
After you receive the welcome letter , you can start investing
in Mutual Funds online.
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How
will I receive the redemption amount?
Through a direct credit in your Saving's Bank Account mentioned
in Investment Services Account opening form as per Scheme Details.
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Will
I get an online confirmation of my transactions?
The order once placed will be confirmed immediately. The confirmation
of units bought or sold will be done by the AMC / Registrar
only on next working day.
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Can
I transact anytime during the day?
Yes, you can transact at any time of the day. However, in order
to get the NAV of the same day you would have to transact before
the cut-off time of the scheme. If you place any order after
the said cut-off time, you would be eligible for NAV of the
next day.
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Is
there a minimum transaction amount for each scheme?
As decided by the fund, there is a minimum transaction amount
indicated against each scheme. You will get to see the minimum
transaction amount in the Purchase screen after you select the
Name of the scheme from the drop down menu.
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How
do I convert my existing portfolio of Mutual Fund units to Online
Mutual Fund portfolio?
Curently ,this facility is not available.
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How
will I receive the Dividend Pay amount?
Through a direct credit by the AMC in your Saving's Bank Account
mentioned in Investment Services Account opening form.
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Can
I as an NRI buy Mutual Fund Units in the PIS account?
No, you cannot purchase mutual fund units in the PIS account.
You can only do so in the Non-PIS account.
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If
I change my address/Bank account /Nomination, what do I need
to do?
For all changes in account profile or bank account linked for
purchases or redemptions, contact the nearest branch and fill
in a form to get the change done.
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Can
I transact on a holiday?
Yes, You can place your request even on a holiday. However,
the request would be processed on the next business day and
respective NAV would be applicable as per the Mutual Fund's
offer document.
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How
is online investing more convenient ?
- No filling of multiple application forms . Only a one
time registration agreement to be signed and submitted.
- Paperless method to invest in Mutual Funds. No application
forms, No Cheques, No Documents require d for any transaction.
- Direct Credit to bank account for redemption and Dividend
proceeds.
- Customer can view his online mutual fund holdings on NetBanking
with the latest valuations.
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Can
I sell/redeem schemes bought offline through online?
No, only those schemes bought through online mode can be sold
/redeemed through this service.
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Who
can be the first applicant in the Investment services Account
holding? Can any of the holders transact ?
1st applicant of the Mutual Fund Investment Services Account
has to be same as 1st Holder of Savings Bank Account. Only the
1st account holder can transact through this service.
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When
will I be able to view the unit holdings in my A/c from the
time of purchase?
The unit holdings will get reflected within 2-5 days.
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How
much am I charged for this service?
A quarterly maintenance charge is applicable for holding an Investment Services Account. Request you to contact your RM / Personal Banker or nearest HDFC Bank Branch to know the details.
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