Question re ICICIDirect.com

[hemant_b]

Hello All

Am new to this website and find it very informative.

Am a relatively new investor and recently opened a MF Trading account with icicidirect.com.

I have invested into 3 different funds using SIP.

Trouble is, icicidirect.com only lets me set the maximum tenure for SIP as '24 Months'. has anyone else faced a similar problem? I was ideally looking to invest for 5 years however the maximum tenure on SIP's that I see on my account is 24 months.

Please help.

Thanks
Hemant

[mrindia]

Originally Posted by hemant_b

Hello All

Am new to this website and find it very informative.

Am a relatively new investor and recently opened a MF Trading account with icicidirect.com.

I have invested into 3 different funds using SIP.

Trouble is, icicidirect.com only lets me set the maximum tenure for SIP as '24 Months'. has anyone else faced a similar problem? I was ideally looking to invest for 5 years however the maximum tenure on SIP's that I see on my account is 24 months.

Please help.

Thanks
Hemant

Hello!
Though I do not know exactly about ICICI-Direct, but u can extend SIPs beyond pre-determined termination date
by simply putting a request to AMC, once u start receiving acc. statements quoting ur folio no & bank details
mr india

[arm]

You can start a new SIP at the end of 2 years for another 2 years. Does it make any difference?

Rgds

[mrindia]

Originally Posted by arm

You can start a new SIP at the end of 2 years for another 2 years. Does it make any difference?

Rgds

No difference actually, except u will get new folio number.
mr india

[hemant_b]

Originally Posted by mrindia

No difference actually, except u will get new folio number.
mr india

My present SIP ends after 2 years.

if I start another SIP after two years, wudnt it be a new SIP with a 2 year term?

Plz clarify.

[ARMHM]

Originally Posted by hemant_b

My present SIP ends after 2 years.

if I start another SIP after two years, wudnt it be a new SIP with a 2 year term?

Plz clarify.

Why opt for SIP in the first place? If you are a disciplined saver just put in your money in a regular fund. This way you can not be forced to pay a fixed amount every month. In fact you can put more amount occassionally(like Diwali bonus etc.) Besides SIP and regular both attract same entry load. Nowadays you can eliminate the agents and buy MF directly without paying entry load.

[milind]

Originally Posted by hemant_b

Hello All

Am new to this website and find it very informative.

Am a relatively new investor and recently opened a MF Trading account with icicidirect.com.

I have invested into 3 different funds using SIP.

Trouble is, icicidirect.com only lets me set the maximum tenure for SIP as '24 Months'. has anyone else faced a similar problem? I was ideally looking to invest for 5 years however the maximum tenure on SIP's that I see on my account is 24 months.

Please help.

Thanks
Hemant

Why are you with ICICIDirect? Work directly with the AMC and save 2.25% load that you otherwise pay.

-- Milind

[hemant_b]

Thanks AR & Milind for your valuable suggestions.

What I hate the most is when people start giving unwarranted advice and think others havent done their homework before investing. I obviously have my reasons of investing in SIP and through ICICIDirect and know my goals and financial implications better than anybody else. Anyway, I wudnt want to comment on it further and turn this post into an argument of sorts.

My question still remains. If I was to start a new SIP after 2 years, it wudnt carry the investments and returns of my present SIP (As it'll be a new 24-month SIP) and hence will not be a 4-yr SIP. Plz clarify if my train of thought is correct.

Cheers
Hemant