HDFC Net Banking

[lotmanythings]

Hi,

I need to invest in mutual funds, and therefore, I wish to take an online brokerage service. I had been to HDFC and they told me that their NetBanking charges only Rs. 110 per quarter and that there are no other charges. This is much better than ICICI Direct (which charges for every transaction). I would like to know how safe this HDFC Net Banking is and whether there are any cheaper options available.

I also read on this forum about FundsIndia. Please compare that with HDFC Net Banking.

And the most important thing, suppose I purchase some units using the online system, when will the transaction actually reflect? I mean, suppose I buy some units at Rs. 30 per units and suppose it takes 2 days for the transaction to be processed and in one day the price rises to Rs. 50 per unit. Will I get it at Rs. 30 or at Rs 50? Also, when I sell, will I get the price at the time I sell, or 1-2 days after I sell.

Please help.

Thanks,

 

[maddy2384]

dear query raiser

firstly it takes seconds to process the transaction if you are going online. So your second query is based on wrong assumptions

about ICICI direct account. I don't think they charge for every transaction i mean in MF. They charge 500/year

 

[lotmanythings]

Ok, I am having a lot of misconceptions indeed.

Can you comment about FundsIndia, is it reliable and is it better than ICICI Direct/HDFC Netbanking?

@maddy: Thanks a lot for the quick reply

 

[abdriver2000]

There are no charges for Net Banking. 110 is the quarterly charge for the ISA account.

I have been using it for about 2 years now. The transaction will take place once you submit it online. NAV will be same day if before cut-off time else next day NAV will be given.

 

[lotmanythings]

@abdriver2000: Thanks for your reply

What is an ISA account? Is it necessary for NetBanking? I told them that I want to trade MF's online and they told me that I have to pay a quarterly fee of Rs. 110.

You've been using it for 2 years...Please tell me how safe it is and how good is their service.

Thanks,

 

[khin007]

HDFC service is safe . I am also using their MF online service .

 

[nikrod]

Yes ICICI Direct does charge for every transaction (rs. 100). Charges for SIP are rs. 30 or 1.5% whicever is lower per transaction. HDFC ISA account is far more economical than ICICI Direct for mutual fund investment.

Only exception is that ICICI Direct does not levi any charges if your MF portfolio held with them exceeds Rs. 8 lakh

 

[abdriver2000]

@abdriver2000: Thanks for your reply

What is an ISA account? Is it necessary for NetBanking? I told them that I want to trade MF's online and they told me that I have to pay a quarterly fee of Rs. 110.

You've been using it for 2 years...Please tell me how safe it is and how good is their service.

Thanks,

ISA >> Investment Services Account
Netbanking only means that you have a user ID and password to transact online instead of paper forms.

110 is the quarterly fee for the ISA.

It is very safe and secure, unless you share your password on this forum

 

[magnet]

What about the commission stuff it shows when u are about to go for a MF ?? i too have an account but havent used it yet

 

[nikrod]

What about the commission stuff it shows when u are about to go for a MF ?? i too have an account but havent used it yet

HDFC ISA account does not charge anything other than quarterly fee. the trail commissions it discloses is directly paid by AMC (Mutual Fund Houses). Investor will not have to worry about it.