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MUTUAL FUNDS

Mutual Funds offer you the simplest way of investing in increasingly complex financial markets. With the advantages of diversification, liquidity, professional management, etc. available with Mutual Funds, you can be sure of peace of mind regards the growth of your hard earned money. To invest through offline mode in mutual funds, you need to fill up the physical forms & submit to your branch along with the KYC copy.

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  • Advantages of Investing into a Mutual Fund

    Why choose this product:

    • Enjoy liquidity for your funds by redeeming and withdrawing money anytime
    • Mutual Funds can be purchased in small units
    • Analysis by experienced Fund Managers
    • Your interests are safeguarded due to regulations of the sector

    The reason that mutual funds are so popular is that they offer the ability to easily invest in increasingly more complicated financial markets. A large part of the success of mutual funds is also the advantages they offer in terms of diversification, professional management and liquidity.

    Your relationship managers will help you determine your investment profile, which will be based on your needs, possibilities and expectations. Your investment profile will help you choose the type of investments that suits you the best.

  • Buy / Sell Online

    You can purchase, redeem and switch funds and investment preferences at your own will. All of this is available to you at a nominal, flat quarterly maintenance fee. Go, ahead, enjoy the freedom to invest as and when you please from the comforts of your home on-the-go through NetBanking.

    Eligibility

    • The applicant needs to be an existing bank account holder, since a customer ID is mandatory
    • The Savings Bank Account status has to be single or either/survivor
    • The Account Opening Application Form has to be signed by all the account holders
    • Bank Account linkage letter needs to be signed by the Bank Account Holders

    Cut Off Timings

    • Cut-off time for same day NAV Net Asset Value is the market value of the assets of the scheme minus its liabilities.  is 1400 hours i.e. 2.00 p.m. (Indian Standard Time). All instructions received on the day of transaction before the cut-off time will be eligible for same day's NAV(except Saturdays, Sundays and Holidays). For transactions received post cut-off time applicable NAV will be as on the next working day
    • In case of liquid scheme, transactions done after the 2.00 PM (IST) cut-off time on Thursday but before 2.00 PM (IST) cut-off time on Friday, the NAV for Friday or Sunday would be applicable as per AMC rules for NAV applicability
    • In case of liquid scheme, transactions done after the 2.00 PM (IST) cut-off time on Friday or transactions done on any holiday, Saturday or Sunday, the applicable NAV will be of the next working day
    • In case of liquid scheme, transactions done before the 2.00 PM (IST) cut-off time on a day prior to a non-working day, the applicable NAV will be of the holiday. (In case of consequent holidays, the last holiday NAV is taken as the Holiday NAV).
    • We agree and acknowledge that any instruction given or purported to be given by me/us before the cut-off time as may be intimated by the HDFC Bank to me/us from time to time, would be processed on the same day. Any instructions received after the prescribed cut-off time will be processed on the next working day
    • We acknowledge that any transaction request falling due on a holiday would be processed on the next business day and respective NAV would be applicable as per the Mutual Fund's offer document

    Click here for Terms and Conditions.

  • Requirements

    • The applicant needs to be an existing bank account holder, since a customer ID is mandatory.
    • The Savings Bank Account status has to be Single or Either/Survivor.
    • The bank account holding pattern will be the same as applicants for Online Mutual fund(Investment Services Account).
    • The Account Opening Application Form has to be signed by the Mutual Fund Applicants.
    • PAN Requirement: PAN (Permanent Account Number) has been made mandatory for investments into mutual funds for all investors irrespective of the amount. All customers who wish to apply for Online Mutual Fund(Investment services Account) are required to have a PAN.
    • For NRI customers(Non-face to face): The PAN card copy is required to be attested by the Indian embessy post which the PAN cards can be sent to the home branch or the relationship manager. However, please note that actual processing of KYC document is done by CVL Ventures Ltd. Any specific requirements raised by them have to be complied.
    • The PAN cards are required to be attested by the Relationship manager as Seen Orignal & verified" before attaching the same with the ISA form.
    • Bank Account Linkage letter needs to be signed by the Bank Account Holders.
  • Performance at a Glance

    Every month, we create fact sheets for the analysis of the funds. Please click on a link below to view a sample.

  • FAQs

    W.e.f. January 1, 2011, all categories of investors irrespective of amount of investment in Mutual Funds are required to comply with KYC norms under the Prevention of Money Laundering Act 2002 (PMLA) for carrying out the transactions such as new/ additional purchase, switch transactions, new SIP/ STP/ DTP registrations received from effective date i.e. January 1, 2011. To know more Click here.

    Thus, with effect from 1st January 2011, any investor (all applicants in a folio) investing into mutual funds through the Investment Services Account would be required to be KYC compliant with CVL(CDSL Ventures Ltd) without which the transactions may be liable to be rejected by the respective mutual fund houses

    Expand All  | Collapse All

    What Is KYC ?

    KYC is an acronym for 'Know your Client', a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to 'know' their clients. This would be in the form of verification of identity and address, providing financial status, occupation and such other demographic information to CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL). Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.

    Where and how does one get to be KYC compliant? Does the investor have to repeat the KYC process with every Mutual Fund?

    The Mutual Fund industry has appointed CDSL Ventures Limited (CDSL), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC compliance procedure.

    • CVL through its Points of Service (POS) will accept KYC application forms, verify documents and provide the KYC Acknowledgement (across the counter on the best effort basis)
    • The list of POS will be displayed on the websites of Mutual Funds, CDSL and AMFI. Once the KYC is duly completed in all respects, the investor needs to produce a copy of the Acknowledgement to the fund where the investor desires to invest. There is no need to repeat the KYC individually for each Mutual Fund investment.

    Should the investor visit POS personally to obtain KYC compliance?

    No. If the investor is not in a position to visit POS personally, the KYC application form along with the necessary documents (including originals if the copies are not attested) can be sent through the distributor or representative, who can arrange to fulfill the KYC obligation and obtain the KYC Acknowledgement through any of the POS.

    How does the investor transact in Mutual Funds after completing the KYC process?

    Investors must attach their KYC acknowledgement along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio. Applications Forms / Transaction Slips not accompanied by KYC Acknowledgement are liable to be rejected by the Mutual Funds. If you do not obtain a KYC Acknowledgement, you will not be able to invest Rs. 50,000 or more in a Mutual Fund.

    What if the investor has already completed the earlier KYC (MIN) procedure with CVL?

    • Scenario 1 :
      If the KYC (MIN) was completed by submitting the PAN, the Acknowledgement obtained at that time can be enclosed along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio as the PAN will be stated on the said acknowledgement. You need not repeat the process now.
    • Scenario 2 :
      If the KYC (MIN) was completed without submitting the PAN but with other proof of identity documents, for such cases, CVL will send out a communication to the respective investors requesting them to submit self attested copy of PAN Card for KYC compliance.

    What is the process for NRIs residing outside India? How can he be KYC compliant?

    The soft copy of these KYC forms will be made available on the website of all Mutual Funds, AMFI and Central Depository Services (India) Limited (CDSL). The same duly completed along with the necessary attested documents can be submitted at the POS or mailed to your representative or distributor who can complete the KYC formalities.

    Are there any special requirements for an NRI?

    Yes.

    • Certified true copy of the passport
    • Certified true copy of the overseas address and permanent address

    If any of the documents (including attestations / certifications) towards proof of identity or address is in a foreign language, they have to be translated in English for submission. The documents can be attested, by the Consulate office or overseas branches of scheduled commercial banks registered in India.

    Is there any special requirement for a PIO (Person of Indian Origin)?

    The requirements applicable to an NRI will also apply to a PIO. However, additionally, he will need to submit a certified true copy of the PIO Card.

    To know more on KYC please click here.

    How to check my KYC status?

    • Step 1: Visit www.cvlindia.com and click on "Enquiry on KYC"
    • Step 2: Enter the PAN and click on SUBMIT
    • Step 3: If KYC compliant, the name of PAN holder appears along with the status of KYC. The investor can take a print out of this and will suffice as document of acknowledgement.

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