What can we help you with?
Example: How do I change my address?
Have questions specific to your product?
Which Mutual Funds are ISA enabled?
List of Mutual Funds ISA
How can I close my Online Mutual Fund Account as well as the Bank account linked with it?
To close your Online Mutual Fund account as well as the linked Bank account, you will need to redeem or transfer all your Online Mutual Fund holdings to physical mode. Once this is done, the Online Mutual Funds Account can be closed. After closure of the Online Mutual Funds Account, the linked bank account can be closed.
Please note that both the above options require a written request in the attached format. Please submit the form, duly filled at your account branch.
Kindly visit the following URL to access information for the complete address and contact details of our Branches as well as our PhoneBanking numbers: PhoneBanking
The above URL gives you access to the various contact points to get in touch with us through the Customer Center.
Why do I need to give my income details? How can I be sure that it will not be misused?
As per PMLA, it is mandatory for Mutual Funds to obtain financial status details from investors. It is for this reason that your income details are sought. Please note that no proof/income documents are required. The information given to you in the KYC Application form will be treated as confidential and used for regulatory purposes, if called for.
I am an NRI residing outside India. How do I get myself 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). You may also approach your distributor for a form. 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 for you.
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.
In case of existing investors, when and how will the KYC norms be introduced?
KYC norms are applicable to all investors. It is in the interest of all investors to obtain KYC Acknowledgement and submit it to the Mutual Fund to avoid any inconvenience in the future.
How do I buy Mutual Funds over the Net?
To invest through NetBanking log onto www.hdfcbank.com.
How can I use Mobile Banking to manage my Mutual Funds account?
We request you to follow the steps mentioned below to access your Online Mutual Fund details:
- Log on to the HDFC Bank NetBanking Site - Using your Customer ID and Password (Please use the NetBanking password)
- Click on the Mutual Fund Tab - 6th tab on the top right corner
- The Mutual Fund account number generated for you will reflect on the screen
- On the Left Hand side of the screen, various options like New Fund Offer, Purchase, Redeem, Switch, etc. are available
- You can click on any of the options and the relevant screen will be available to execute the desired transactions
- Your Mutual Fund Account Number will be available in a drop down. You can select your Mutual Fund account number and start transacting.
What is the process of application for Rights Issue under ASBA?
An investor, who has received the common application form from the registrar of the company floating the rights issue, has the option of applying through ASBA at any designated branch of the Bank.
Rights issue is not available in NetBanking facility.
What about a Minor becoming a Major?
When a minor attaining majority ( completes 18 years of age), he/she must be KYC Compliant and have a KYC Acknowledgement of their own. The same should be informed to the Mutual Fund where he/she holds an investment, along with other details such as the bank details, signature, etc. as per the present requirements of such Mutual Fund.
How can I "Buy"/"Sell" Mutual Funds?
Once you are registered for an Investment Services Account you can start placing orders to buy/sell Mutual Funds through NetBanking services offered by HDFC Bank.
Investing through Net Banking: You will have to login with your Customer ID and Internet Password to place orders for Mutual Funds on the website.
You can view your Mutual Fund Holdings with their present market values on our website
The cut-off time on the NetBanking Channel for the Same Day NAV for Mutual Funds transactions is 2 PM.
How can I change the default Bank Account that is linked to my HDFC Bank Online Mutual Funds Account?
We understand that you wish to change the Bank Account linked to your Online Mutual Funds Account (Applicable where you want to continue with the Online Mutual Funds Account but want to close only the linked Bank Account)
For this, you must provide an alternate Bank Account number under the same Customer ID (First Holder) with which you are registered for online Mutual Funds. Once the change of the Bank Account is effected, the Online Mutual Fund Account will be de-linked from the old bank account and it will be closed.
Please note that both the options require a written request in the attached format. Please submit the form duly filled at your account branch.
What is the procedure to close my Investment Service account?
You will need to submit the Investment Service account closure form to your nearest branch for further processing.
Kindly visit the following URL to access information for the complete address and contact details of our Branches as well as our PhoneBanking numbers.
How much am I charged for this service?
A quarterly maintenance charge is applicable to hold an Investment Services Account. We request you to contact your RM / Personal Banker or nearest HDFC Bank Branch for details.
Can I cancel a transaction?
No cancellations are allowed once transactions are placed.
Is the KYC acknowledgement a separate form or is it a part of the Mutual Fund application. Which of the forms require being time-stamped?
KYC Acknowledgement is a separate form. Time stamping is not required on the KYC Acknowledgement.
How do I transact in Mutuals Fund after completing the KYC process?
You must attach your KYC Verified Print Out along with the Investment Application Form(s) while investing for the first time in a Mutual Fund. Application Forms not accompanied by a KYC print out are liable to be rejected by the Mutual Fund.
Can I sell/redeem schemes bought offline through online?
No, only those schemes bought through the online mode can be sold /redeemed through this service.
How do I buy Mutual Fund over the Net?
To invest through NetBanking Log onto www.hdfcbank.com
How can I register for this service?
To register for this service, fill in an Investment Services account opening form that is available at any HDFC Bank Branch, or contact your Relationship Manager.
Fill in all the details in the form, with the requisite documents, along with details of the bank account that has to be linked with your Investment Services account. The Account Opening Application Form has to be signed by the all the Bank Account holders. Submit this form to your RM or nearest branch.
As an NRI, can I buy Mutual Fund Units in the Portfolio Investment Schemes (PIS) account?
No, you cannot purchase Mutual Fund units in the PIS account. You can only do so in the Non-PIS account.
When will I be able to view the unit holdings in my account from the time of purchase?
The unit holdings will be reflected within T+2 days (T being the transaction day).
Where and how do I get to be KYC Compliant? Do I have to repeat the KYC process with every Mutual Fund?
The Association of Mutual Funds of India (AMFI) has facilitated a centralized platform through CDSL Ventures Limited (CDSL), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC procedure on behalf of all Mutual Funds. CVL, through its Points of Service (PoS), will accept KYC Application Forms, verify documents and provide the KYC Acknowledgement (across the counter on a 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 regards, the investor needs to produce a copy of the acknowledgement when investing for the first time with a Mutual Fund. There is no need to repeat the KYC process individually for each Mutual Fund.
Are there any special requirements for an NRI to invest in Mutual Funds?
Yes. In addition to the certified true copy of the passport, a certified true copy of the overseas address and permanent address will also be required. If any of the documents (including attestations/certifications) towards proof of identity or address is in a foreign language, they have to be translated into English for submission. The documents can be attested by the Consulate office or overseas branches of scheduled Commercial Banks registered in India.
Will I get an online confirmation of my transactions?
An order once placed will be confirmed immediately. The confirmation of units bought or sold will be done by the AMC / Registrar only on the next working day.
Who can be the first applicant in the Investment services Account holding? Can any of the holders transact?
The first applicant of the Mutual Fund Investment Services Account has to be same as the first Holder of the Savings Bank Account. Only the first account holder can transact through this service.
After the First purchase, can I 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 3 to 4 working 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 needs to be 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 orders in any schemes of the Mutual Fund.
What is a KYC Application Form?
A KYC Application Form has been designed for Individual and Non-Individual Investors separately. These forms are available on the Mutual Funds website, AMFI and Central Depository Services (India) Limited (CDSL). You may also approach your distributor for a form. It is important to read the instructions printed on the KYC Application Form while filling the form.
What if I have already obtained a MIN?
Scenario 1 If the MIN was obtained by submitting your PAN, the MIN Acknowledgement can be enclosed along with the Investment Application Form(s)/Transaction Slip(s) while investing for the first time in a Mutual Fund, as the PAN number will be stated on the said acknowledgement.
Scenario 2 If the MIN was obtained without submitting your PAN but with other proof of identity documents, you need to carry a copy of your PAN card, and your original PAN card, for submission at the PoS. For such cases, CVL will send out a communication to you requesting you to submit your PAN for KYC compliance.
Who can open an Investment Services account?
Any Individual or HUF, who has an HDFC Bank Savings Account and is KYC compliant, can register for a Mutual Fund Investment Services Account. NRI customers who are KYC compliant and have a Savings account can also avail of this service. The Savings Bank account status has to be single or either/Survivor.
What are the advantages of investing in SIP?
A large part of the success of Mutual Funds is also the advantages they offer in terms of diversification, professional management and liquidity.
- Power of Compounding: The longer the period of your investment, the more wealth you can accumulate because of the power of compounding. That’s why it makes sense to start investing early. Quite simply, the incremental returns that you earn on your principal, plus accrued gains, is compounded.
- Rupee Cost Averaging: Most investors want to buy stocks when the prices are low and sell them when the prices are high. But timing the market is time consuming and risky. A more successful investment strategy is to adopt a method called Rupee Cost Averaging. By investing in an SIP you end up buying more units when the price is low and less when the price is high.
To set up an SIP, walk in to your nearest HDFC Bank branch or invest through an Investment Services Account.
What happens if I have multiple folios/accounts with a Mutual Fund?
You can inform the Mutual Fund to update the KYC Acknowledgement against all the folios/accounts you have with it. However, each of the holders in these folios/accounts should be KYC Compliant.
What if I forget my customer ID/ IPIN number?
Your ID is available in your welcome letter or can be obtained from the branch. Your IPIN (NetBanking password) can be re-generated by downloading a 'Password Regeneration Request' from the HDFC bank website and submitting it to the branch. The new IPIN (NetBanking password) will be sent to you by post.
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.
Do I need to inform about my change of Income status?
Yes. If you find an increased/decrease in your income, which will effectively change the income bracket that you have declared in the KYC Application form, you should apply to any convenient PoS in the specified form. No proof is needed.
How do I convert my existing portfolio of Mutual Fund units to an Online Mutual Fund portfolio?
Currently, this facility is not available.
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, persons of Indian origin will have to submit a certified true copy of their PIO Card.
To whom is KYC applicable? Is there any exemption?
Currently, all investors (Individuals or Non-Individuals) who wish to make an investment in a mutual fund scheme, irrespective of the amount, are required to complete the KYC process. This also applies to new Systematic Investment Plan (SIP) registrations on or after 01 January 2011, irrespective of the amount. Please find the list of personnel who are required to be KYC compliant:
Joint Holders: Joint holders (including first, second and third if any, are required) have to be individually KYC compliant before they can invest in any Mutual Fund. For e.g., in case of three joint holders, all holders need to be KYC compliant and copies of each holder's KYC Acknowledgement must be attached to the investment application form with any Mutual Fund.
Minors: In case of investments for a Minor, the Minor’s guardian should be KYC compliant and attach the KYC Acknowledgement while investing in the name of the Minor. The Minor, upon attaining majority, should immediately apply for KYC compliance in his/her own capacity and intimate the concerned Mutual Fund(s), in order to be able to transact, furthering his/her own capacity.
Power of Attorney (PoA) Holder: Investors who want to invest through a PoA must note that the KYC compliance requirements are mandatory for both the PoA issuer (i.e. Investor) and the Attorney (i.e. the holder of PoA), both of whom should be KYC compliant in their independent capacity, and both must attach their respective KYC acknowledgements while investing.
For transmission (in case of death of the unite holder): If the deceased is the sole applicant, the claimant should submit his/her KYC acknowledgement in the request along with the other relevant documents to effect the transmission in his/her favour.
Should I visit a PoS personally to obtain KYC Compliance?
No. If you are not in a position to visit a 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 complete the KYC process and obtain the KYC Acknowledgement through any PoS.
What are the consequences of KYC cancellation/rejection?
In the event of any KYC Application Form being found deficient for lack of information/insufficiency of mandatory documentation, further investments will not be permitted.
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 your Savings account is activated. You can fill in the application form for an Investment Services account along with a KYC form and the requisite documents, if you are not KYC Compliant, and send them to your Relationship Manager/Personal Banker or nearest branch. After you receive the welcome letter, you can start investing in Mutual Funds online.
Who do I inform about change of name/address/status/signature, etc.?
You should intimate your change of name/address/status/signature, etc. to any convenient PoS. You need to quote your PAN and submit proof (in case of a new address). You should provide at least 10 days for the change of address to take effect with all the Mutual Funds where you have investments. Please note that you should not write to the Mutual Fund or its Registrar for the change of address (unless as a designated PoS). The specified form can be obtained from the AMFI/Mutual Fund/CDSL website. All details of the holders in the Mutual Fund records will be replaced by the address details available in the CVL record.
What are the KYC requirements for a Mutual Fund Investor?
Individual investors will have to produce a Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license, etc.) and Proof of Address (any of the valid documents listed in section B of the KYC Application Form for Individuals). Non-Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the KYC process. A list of Mandatory Certified Documents to be submitted can be found in section C of the KYC application form for Non-Individual Investors.
How is online investing more convenient?
- 1. No filling of multiple application forms
- 2. Only a one time registration agreement to be signed and submitted
- 3. Paperless method to invest in Mutual Funds
- 4. No application forms, No Cheques, No Documents required for any transaction
- 5. Direct Credits to your bank account for Redemptions and Dividend proceeds
- 6. View online Mutual Fund holdings on NetBanking
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.
Is there a charge I need to pay to get myself KYC Compliant?
Currently, KYC is done for free of cost.
Does the KYC Acknowledgement have an expiry date?
No. Once the KYC Acknowledgement is obtained and informed to a Mutual Fund, it will be registered against the folio and quoted in all future account statements. The same will exist in perpetuity, unless cancelled by CVL.
Why should I invest in SIP's right now?
The current scenario in the equity market is dominated by negative sentiment, which has led to fundamentals being ignored.
This scenario has created volatility in the markets and uncertainty of future outlook.
The prudent way to invest in this scenario is to benefit from the volatility and this can be done by investing through SIP’s. A monthly SIP helps in averaging out the cost of purchase and benefit from the power of compounding. It also helps in creating wealth over a longer time period.
The current investment scenario is still dominated by negative sentiment. This creates volatility in the markets due to confused minds of the investors. Such volatility makes it difficult to capture the market movements and most people end up losing money with the intention of timing the markets. Also investing a lump sum in one shot might lead you to miss out on market opportunities. The tool to beat such a scenario is investing through a Systematic Investment Plan.
From what date is it mandatory for me to be KYC Compliant?
With effect from 01 January 2011, if you want to invest in Mutual Funds you are required to complete the KYC process irrespective of the amount you invest.
Is there any transaction charge for placing the transaction offline or online?
Yes, there is transaction charge for placing a transaction offline or online is as follows:
With effect from 1st November 2011, HDFC Bank has "opted-in" for transaction charge as per the SEBI circular no. Cir/ IMD/ DF/13/ 2011 dated August 22, 2011. To know more Click here.
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 have to transact before the cut-off time of the scheme. If you place an order after the said cut-off time, you will be eligible for the NAV of the next day.
Can I transact on a holiday?
Yes, you can place your request even on a holiday. However, the request will be processed on the next business day and the respective NAV will be applicable as per the Mutual Fund's offer document.
How will I receive the redemption amount?
You can receive redemption amounts through a Direct Credit in your Savings Bank Account mentioned in Investment Services Account opening.
How will I receive the Dividend Pay amount?
You will receive the Dividend Pay amount through a Direct Credit by the AMC in your Savings Bank Account mentioned in Investment Services Account opening form.
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.
- To redeem Mutual Fund you have to login to the website with your Customer ID and IPIN and go to the Mutual Funds Tab.
- 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 you want to redeem in the next screen keeping in mind the minimum transaction amount. You can choose to redeem all or part of your units by specifying the number of units and amount.
- The transaction will be processed and the redemption proceeds will be directly credited into your bank account.
Whom do I inform about change of name/address/status/signature, etc.?
You should intimate your change of name/address/status/signature, etc. to any convenient PoS. You need to quote your PAN and submit proof (in case of a new address). You should provide at least 10 days for the change of address to take effect with all the Mutual Funds with whom you are invested. Please note that you should not write to the Mutual Fund or its Registrar for the change of address (unless as a designated PoS). The specified form can be obtained from the AMFI/Mutual Fund/CDSL website. All details of the holders in the Mutual Fund records will be replaced by the address details available in the CVL record.
Can an investor give a COA (Change of Address) along with a redemption request?
Redemption request is given to the investor service centre while the change of address (if KYC process has been previously completed) has to be given to a KRA. The change of address will be effected by CVL and informed to the Mutual Funds. As it will take 10 days for this process to be completed, the redemption transaction accompanied by a change of address request, is likely to be processed without effecting the change of address request.
How can I update my E-mail ID in my Online Mutual Fund Account?
If your E-mail ID is not updated in your Online Mutual Fund account, we request you get in touch with the nearest branch to enable us to register you for E-mail Statements of your Mutual Funds.
On receipt of the form, your e-mail ID will be updated with the respective AMC within 15 working days.
You will receive the holding statements on your e-mail and mailing address simultaneously after registration.
What is FATCA/CRS/KYC?
FATCA : In January 2013, the United States of America’s (U.S) treasury released the final FATCA Regulations. FATCA requires U.S based financial institutions (FI) as well as foreign financial institutions to identify their U.S accounts and report them periodically to the U.S IRS (Internal Revenue Service) or appropriate governmental authority, in case of Inter-Governmental Agreement (IGA). Non-compliance can result in adverse consequences, including a penal U.S withholding tax, for non-U.S. entities or penalties under the local inter-governmental .
CRS : To combat problem of offshore tax evasion, the G20 and OECD (Organisation of Economic Co-operation and Development) countries developed a Common Reporting Standard (CRS).CRS requires financial institutions to collect and report information to their tax authorities about account holders resident in other countries. India has signed CRS agreement on 3rd June 2015.
UBO : As per SEBI Master Circular No. CIR/ISD/AML/3/2010 dated December 31, 2010 regarding Client Due Diligence policy, related circulars on anti-money laundering and SEBI circular No. IR/MIRSD/2/2013 dated January 24, 2013, non individuals and trusts are required to provide details of controlling persons [CP] / ultimate beneficiary owner [UBO] and submit appropriate proof of identity of such CPs/ UBOs. The beneficial owner has been defined in the circular as the natural person or persons, who ultimately own, control or influence a client and/or persons on whose behalf a transaction is being conducted, and includes a person who exercises ultimate effective control over a legal person or arrangement.
As per regulatory requirement, individual investors and joint holders are required to provide extended KYC details. In absence of the same, transactions may get rejected by AMC/RTA. Joint holders of ISA ( Mutual Fund) accounts may update the same through "Update Extended KYC" option in NetBanking Request section of Accounts tab.
Non-individual customers & HUFs may submit extended KYC details to Branches /Relationship manager. In absence of the same, transactions may get rejected by AMC/RTA
What Is KYC?
KYC stands for 'Know your Client', a term commonly used for the 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 is in the form of verification of identity and address, financial status, occupation and other personal information. An applicant must be KYC compliant to invest with any SEBI registered Mutual Fund.
What are the cut-off timings for the Investment Services Account?
Cut-off time for same day NAV is 1400 hours i.e. 2.00 p.m. (Indian Standard Time). All instructions received on transaction day 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, NAV applicable will be as on next working day.
In case of Liquid Scheme, NAV is being computed as mentioned below:
Cut-off time for Historic NAV is 1230 hours i.e. 12.30 p.m. (Indian Standard Time). All instructions received on transaction day before the cut-off time will be eligible for Historic NAV (except Saturdays, Sundays and Holidays).
Cut-off time for same day NAV is 1400 hours i.e. 2.00 p.m. (Indian Standard Time). All instructions received on transaction day after 12.30pm and before the cut-off time ie 2.00pm will be eligible for same day's NAV (except Friday ,Saturdays, Sundays and Holidays).
In case of Liquid Scheme transactions done after 1400 hours i.e. 2.00 p.m. (Indian Standard Time) cut-off on Thursday but prior to 1230 hours i.e. 12.30 p.m. (Indian Standard Time) cut-off of time of Friday, the NAV for Thursday would be applicable .
In case of Liquid Scheme transactions done after 1230 hours i.e. 12.30 p.m. (Indian Standard Time) on friday but prior to 1400 hours i.e. 2.00 p.m. (Indian Standard Time) cut-off of time of Friday, the NAV for Sunday would be applicable as per AMC rules for NAV applicability (NAV for next business day - 1 day will be applicable).
In case of Liquid Scheme transactions done after 1400 hours i.e. 2.00 p.m. (Indian Standard Time) cut-off on Friday or transactions done on any holiday, Saturday or Sunday, the applicable NAV will be of the next declared NAV from AMC end.
In case of Liquid Scheme transactions done after 1230 hours i.e. 12.30 p.m. (Indian Standard 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 HDFC Bank to me/us from time to time, will 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 will be processed on the next business day and the respective NAV will be applicable as per the Mutual Fund's offer document.
How can I open an Online Mutual Fund Account with HDFC Bank?
- To open an Online Mutual Fund account, please fill in an Investment Services Account opening form that is available in any HDFC Bank Branch.
- You can also download the Investment Services Account opening form from www.hdfcbank.com > Forms Centre (top right corner). The form is also attached below.
- Once it is duly filled, you need to provide your KYC confirmation / verification (for all applicants) from below websites
- Submit the above documents to your HDFC Bank branch.
For a comprehensive list of branches, kindly visit our site www.hdfcbank.com. Click on "Find your nearest" on the home page and select "Branch".
Equities & Derivatives
Can I cancel/ modify my bid placed under ASBA during the bidding period?
Yes, you can place a cancellation request or modify your order anytime during the bidding period. After successfully processing your cancellation request, the money will be unblocked in your bank account.
For more information visit www.hdfcsec.com or get in touch through email on
What products can I trade in using my trading account?
You can trade in Equity & Derivatives, IPOs, NCDs and Infrastructure Bonds. Click here to know more.
I have sent in my application, what happens next?
Your application will be processed and you will be informed once your application is accepted and all the required accounts are set up. In case your application is not processed because of lack of some details, our representative will contact you by mail.
What is ASBA option while applying for an IPO?
ASBA means "Applications Supported by Blocked Amount". ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an issue.
Who can open a Securities Trading account with HDFC securities?
Any Indian resident/Non-resident individual (not US-based) or Indian corporate can register with HDFC Securities Ltd. to trade in securities. Currently, overseas corporate bodies (OCBs) cannot open an account with HDFC Securities. To become a registered user of HDFC Securities, you will have to first open a Savings/Current account and Demat account with HDFC Bank.
If I already have an HDFC Bank account and an HDFC Demat account, can I use these accounts to invest/trade online
Yes, you just need to give us the account details and we will link your existing accounts with your HDFC securities account so you can trade online. You can link up to 5 Bank accounts and/or up to 5 Demat accounts.
Which are the various channels through which I can trade or invest?
You can trade through multiple channels i.e. Online trading, Trade on Mobile, Low Bandwidth Sites (LITS), Call ‘N Trade.
Can I withdraw the amount blocked for ASBA bid application?
No. The blocked amount cannot be withdrawn. Such amount will remain blocked in your linked bank account till the allotment is completed.
What do I need to submit to place an IPO/NCD order through my HDFC Securities Trading Account?
Once you are registered with HDFC securities, you can successfully place an IPO/NCD/ Infrastructure Bonds order online; or Call ‘N trade. No filling of any form or any documentation is required if you are a registered customer.
Who can trade in derivatives with an HDFC Securities Trading Account?
Trading in Derivatives will be available only to those customers who have submitted their financial documents or income proof and signed the necessary agreements. For more information click here.
For more information visit www.hdfcsec.com
What is the difference between the Non-ASBA IPO process and the ASBA IPO process?
In the Non-ASBA IPO process, the bid amount (application money) is debited from the bank account once the bid application is successfully placed with HDFC securities. Under the ASBA IPO process, the amount is not debited from your bank account until successful allotment. Until such allotment, the amount will remain blocked in your bank account.
How do I know my application has been accepted?
You can check your account opening status on www.hdfcsec.com on the footer page of the homepage section page under the "Application status".
Who can trade in derivatives with an HDFC Securities Trading Account?
Trading in Derivatives will be available only to those customers who have submitted their financial documents or Income proof and signed the necessary agreements.
What are the call charges applicable if I use the Call ‘N Trade facility to trade in securities?
The Call ‘N Trade facility is free of charge. You can place orders over the phone any number of times.
What are the call charges for offline customers of an HDFC Securities Trading Account?
The Call ‘N Trade facility is free of charge. Customer can place orders over the phone multiple times.
How many bank and depository accounts can I link to a trading account?
You can link up to five HDFC Bank Saving Bank accounts and five HDFC Bank Demat accounts to your trading account.
What do I need to submit to place an IPO/NCD order with my HDFC Securities Trading Account?
Once you are registered with HDFC securities, you can successfully place an IPO/NCD order online or Call ‘N trade. No filling of any form or any documentation is required for a registered customer.
IPO Application through ASBA
How many ASBA applications can be made by blocking a single Bank Account?
As per the SEBI Regulations, under ASBA mode, not more than 5 applications can be made from a single Bank Account for a particular IPO.
What is the time limit to submit the form at a designated HDFC Bank branch?
The bidding time will be the same for ASBA and non-ASBA applications. However, the application needs to be submitted to the designated branch during banking hours and before 1 PM on issue closure date.
If I made an application through ASBA and money in my Savings Account is blocked, will I get interest for that period?
Yes, interest will be payable on the blocked amount as per RBI guidelines.
Is it possible to bid for an IPO under ASBA as well as under non-ASBA?
No, it isn't. Only one application per IPO is allowed, either through ASBA or non-ASBA. Multiple applications are liable to be rejected because the same PAN Card cannot be used for more than one application.
What is the difference between the Non-ASBA IPO process and the ASBA process?
In the non-ASBA IPO process, the bid amount (application money) is debited from the Bank account once the bid application is successfully placed. Under the ASBA process, the amount is not debited from your Bank account until successful allotment. Until such allotment, the amount will remain blocked in your Bank account.
Who can apply for ASBA?
The following investors are eligible to apply through ASBA:
In public issues:
- Investor from any of the approved category eligible to apply in IPO as per SEBI guidelines.
- Investor who has a Savings Account or Current Account with HDFC Bank
- Investor who has a Demat Cccount with any DP along with a valid Permanent Account Number (PAN).
- Investor has sufficient clear credit balance in his/her Savings or Current account (NOT including overdraft limit)
In rights issues: Any shareholders of the issuer company, as on the record date, provided he/ she:
- holds shares in dematerialised form and has applied for entitlements and /or additional shares in the issue in dematerialised form;
- has not renounced his/ her entitlements in full or in part;
- is not a renouncee to the Issue;
- is from any approved category eligible to apply in IPO as per SEBI guidelines.
- has a Savings Account or Current Account with HDFC Bank
- has a Demat account with any DP along with a valid Permanent Account Number (PAN).
- has sufficient clear credit balance in his/her Savings or Current account (NOT including overdraft limit)
Can I cancel or withdraw my IPO application (or bid) submitted using ASBA?
Yes, you can place a withdrawal request at any time during the bidding period. Any request for bid withdrawal should be made during banking hours and by 2 PM of the issue closure date. The request will be subject to acceptance by the Stock Exchange, after which the application amount in your Account will be unblocked. Once withdrawn, the blocked amount will be available in 1 working day.
Can I revise the bid?
Yes, you can revise your bid under the ASBA facility. In case of upward revision of bid, additional lien will be marked to the extent of the incremental amount. However, in case of downward revision, differential money blocked earlier will not be released. Such amount, if any, will be released after allotment.
Can I still approach my broker to apply for an IPO?
Yes, you can approach your broker to apply for an IPO.
Can I bid at multiple rates under ASBA?
Yes, you can place three bids under ASBA.
When will the Bank lock money in my Account for ASBA payments?
The Bank will need the money in your account at the time of placing the bid for IPO shares through the ASBA payment option. SEBI has clearly instructed Banks not to accept IPO applications before blocking the bidding amount (for ASBA process). The amount will remain locked until the registrar / stock exchange requests the Bank to release the funds, either if shares are not allotted to you, your IPO application is rejected or you withdraw your IPO application.
What is ASBA?
ASBA means 'Application Supported by Blocked Amount' as defined in clause (d) of sub Regulation (1) of regulation 2 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. ASBA is an application containing an authorization to block the application money in the Bank account for subscribing to an IPO/FPO or Rights Issue.
What happens when the issue fails/is withdrawn?
In case the issue fails/ is withdrawn, HDFC Bank shall unblock the application money from the Bank Accounts upon receiving instructions from the Registrar.
What will be the benefit to me if I apply for an IPO under ASBA?
If you apply using the ASBA form you will get the following benefits:
- No loss of interest, since the application amount is not debited to the Savings Account on application
- The amount for which no shares have been allotted is available immediately on completion of allotment process. There is no need to wait for the amount to be refunded by the company
- Since the amount is available in the Account, it is considered for calculation of the Average Quarterly Balance (AQB)
- Simplified form filling process and you can apply online through NetBanking
If I am a NRE/NRO customer, can I apply for ASBA?
Yes, you can apply through a physical application; however, you CANNOT currently apply through ASBA on NetBanking.
Is priority in allotment given to applications bid under ASBA facility?
There is no differentiation between the allotment of shares applied through ASBA or Non- ASBA.
Is it possible to withdraw the amount blocked for IPO applications through ASBA?
No. The blocked amount cannot be withdrawn. However, the same will lie in your operative Bank Account till the allotment and will earn interest as per Account terms applicable.
Will the bank charge any additional fees if I choose the ASBA Payment Option?
Currently this value added service is provided free of cost.
Is any additional documentation required for availing the ASBA facility?
No further physical documentation is required to avail of this facility.
If I want to apply physically for an IPO through ASBA, what should I do?
You have to visit the nearest designated HDFC Bank branch to apply in an IPO through ASBA. It is not essential that you hold an Account in that branch, you should hold an Account with the Bank though.
Fill in the no. of shares, price, Account number, PAN, Demat Account details, etc. in the specially designed ASBA application form of the IPO you wish to apply for and submit it at the branch.
You will receive the acknowledgement from the branch along with the Unique Reference Number.
Subsequently, the Bank will block the amount on your highest bid in your specified Bank Account for the IPO as applied. In case of insufficient funds in your Bank Account, the bank will reject the IPO application.
After the allotment has been approved, the Bank will debit your Account for the allotment money and will release the block on the remaining amount in the Account.
Subsequent to this, the shares will be credited to your Demat Account.
You can now download the application forms from the NSE/BSE website. You can also register your Bank/Demat details to avoid filing the same for every issue.
I do not have a Bank account with HDFC Bank. Can I still apply through your Bank for IPOs using HDFC Bank`s ASBA process?
To apply for an IPO from HDFC Bank using ASBA, you should have an account with the Bank. However, it is not compulsory for you to have a Demat Account.
The gold rate in the newspaper is lower than HDFC Bank’s gold rate. Why are the gold bar sold by HDFC bank more expensive that those sold in the market?
The price of Mudra Pure Gold Bars is line with the gold price of 99.99% pure bars in the International market. The price also includes the supplier’s premium, as the product is imported from Switzerland, and the Assay Certification Cost that certifies the purity of Gold as per International Standards. This price also includes customs duty, insurance, holding cost and VAT.
Are there any taxes applicable on Mudra Pure Gold Bars?
VAT is included in the final price of Mudra Pure Gold Bars.
How are Mudra Pure Gold Bars different from 24 carat gold available in market?
There are three different purity levels in 24 carat gold; i.e. 99.50%, 99.90% and 99.99%. HDFC Bank Mudra Pure Gold Bars are 24 carat, 99.99% pure. This is the highest available purity in gold. The normal level of purity commonly available with local jewelers is 24 carat 99.5% pure. In some cases the purity is level is 99.9% pure.
What form is Gold being sold?
"Mudra" - Pure Gold will be sold in the form of rectangular bars.
Will HDFC Bank buy back the gold sold by them?
HDFC Bank does not buy the gold sold by them.
What is the authenticity proof?
The gold bar is packed in tamper-proof certicard packs that are see through at the manufacturing stage itself to prevent any damage / theft during transit. Moreover, the gold bars sold by the Bank come with an "Assay Certification" indicating the highest quality of gold at 99.99% purity as per international standards.
What is the Assay Certification about?
Mudra Pure Gold Bars come with an Assay certification, which signifies the highest level of purity as per international standards.
What are the features of HDFC Bank Mudra Pure Gold Bars?
- 99.99% Pure 24 Carat
- Tamper-proof Packaging
- Assay Certification for purity and weight
- Imported from Switzerland
How will HDFC Bank sell the gold?
HDFC Bank is selling the gold through its branches.
In what size and shape are the Mudra pure Gold Bars available?
Mudra Pure Gold bars are available in rectangular form.
In what weight are the gold bars available?
Currently "Mudra" - Pure Gold bars are available in 5g, 8g, 10g, 20g, 50g & 100g denominations.
What are the different weights Mudra Pure Gold Bars are available in?
Mudra Pure Gold bars are available in 5g, 8g, 10g, 20g 50g and 100g denominations.
Do the bars have authenticity proof?
The gold bars are packed in tamper-proof Certicard packs (see through), at the manufacturing stage itself, to prevent any damage / theft during transit. Moreover, the gold bars sold by the Bank are “Assay Certified” for weight and purity, as mentioned on the packaging.
From where can I get today’s price of Mudra Pure Gold Bars?
The card rates for HDFC Bank Mudra Pure Gold Bars are available on the HDFC Bank website home page in the ‘today’s rates’ section. Please note that these prices are subject to change as per the market price. Hence please confirm the price and the branch name before making a purchase.
What is the price that the gold will be sold at?
The price will depend upon the market rate of gold.
Is HDFC Bank venturing into gold/bullion market?
Yes, HDFC Bank has RBI approval to retail gold/bullion to its customers.
Is the gold imported?
Yes.The gold is imported from an Internationally reputed supplier from Switzerland.
Will you buy back Gold Bars purchased from your bank / branch?
Currently, the Bank is prohibited by regulatory guidelines from buying back gold that has been sold to customers.
Will you give me a bill when I purchase Mudra Pure Gold Bars from HDFC Bank?
We will give you an Invoice for all gold bars purchased from us. The Invoice will carry the weight, quantity and purity of the gold bars and will be signed and stamped by the Bank.
Is HDFC Bank venturing into silver/bullion market?
Yes, HDFC Bank has RBI approval to retail silver/bullion to its customers.
What is the authenticity proof?
The silver bar is packed in tamper-proof certicard packs that are seen through at the manufacturing stage itself to prevent any damage / theft during transit. Moreover, the silver bars sold by the Bank come with an "Assay Certification" indicating the highest quality of silver at 99.99% purity as per international standards.
Will HDFC Bank buy back the silver sold by them?
HDFC Bank does not buy the silver sold by them.
What is the price that the silver will be sold at?
The price will depend upon the market rate of silver.
In what weight are the silver bars available?
Currently "Mudra" - Pure silver bars will be available in 50 gm weight.
What is the Assay Certification about?
Mudra Silver Bars come with an Assay certification, which signifies the highest level of purity as per international standards.
What is the purity factor of silver?
HDFC Bank - Mudra Pure Silver will be of 24 Karat, 99.99% purity silver.
What form is silver being sold in?
"Mudra" - Pure silver will be sold in the form of rectangular bars.
How will HDFC Bank sell the silver?
Initially, HDFC Bank will sell the silver through its branches.
8% Savings Bonds
In what form are these bonds issued?
Bonds are issued in the form of a Bond Ledger Account in denominations of Rs. 1000.
Is a nomination facility available?
Yes, a nomination facility is available.
What bond options are available?
You can choose from cumulative and non-cumulative bond options.
How much interest will the 8% Savings (Taxable) Bonds bear?
Bonds will bear interest @ 8.00% p.a. and are payable half-yearly. The interest payment dates are February 1 and August 1 for non-cumulative investments.
For investors who have chosen the cumulative option, the value of the investments at the end of 6 years would be Rs. 1601 (being Principal and Interest) for every Rs. 1000 invested. Interest on the Bonds is taxable under Income Tax Act 1961.
What is the minimum and maximum limit for investment in the 8% Savings (Taxable) Bonds?
You need to invest a minimum of Rs. 1,000. However, there is no maximum limit on investment but it needs to be in denominations of Rs. 1000.
How much tax do I have to pay?
The interest income from the bonds is taxable. TDS is deducted at the time of interest payment as per the prevailing IT rules.
Are the 8% Savings (Taxable) Bonds transferable?
No, these bonds are not transferable.
What is the tenure of the 8% Savings (Taxable) Bonds?
The tenure of the bond is 6 years from the date of issue. No interest will accrue after the maturity of the bond.
Sec 54 EC - Capital Gains Bonds
What is the block period for the investment?
The block period for the investment of these two companies is 3 years.
What is the rate of interest for these bonds?
The interest rate on these bonds is 6% per annum.
Can I claim exemption under exemption under 54C with the exemption 54 and 54EC?
Yes, you can claim exemption under 54C with the exemption 54 and 54EC.
Which bonds are eligible under the Section 54 EC?
The eligible bonds under Section 54 EC are RECL (Rural Electrification Corporation Ltd) and NHAI (National Highways Authority of India).
Can I take a loan on these bonds?
No, you cannot take a loan on these bonds.
What is the maximum investment limit for the Section 54 EC- Capital Gain Bonds?
The maximum investment limit amount is Rs. 50 Lakhs.