Here is some Good News for ICICI users :
This is further to my last email on our revised charges for mutual funds schemes post the SEBI regulation effective August 1, 2009.
We are delighted to record an overwhelming response to our new and changed charges. Most customers have appreciated the benefit that they tangibly see in our offer. Even so, a few customers, who have relatively smaller investments in SIPs, have expressed concerns.
From what we have understood, they seem to be saying that if their investments in mutual funds are large, then ICICIdirect.com is giving a very sweet deal. But when investments are in small SIPs, the charges appear expensive.
In the meantime, we want to reassure our customers, that when in our last email, I said 'we value your feedback', it was not just a sign-off line. We really meant it. Accordingly we are delighted to offer revised set of charges for SIPs and liquid funds.
Thus in case of SIPs, we would now charge Rs. 30/- per transaction or 1.5% of the transaction amount, whichever is lower. This would be effective retrospectively from August 1, 2009. To read the new fee structure click here.
To elaborate a little bit, let us take a small example:
If you have a SIP of Rs. 500/-, then what you were typically paying as entry load at 2.25% was Rs. 11.25/-. Under the revised charges of 1.5%, you pay Rs. 7.50/-, which is 33.3% lower than your previous charges.
Moreover, the charges on liquid funds, would be zero.
I also suggest that you take out a little time to click here and access our comprehensive FAQs that we have posted. We have collated this from various queries we have received through email and calls.
With this, I do hope and trust that we have addressed concerns of all our investors including those with smaller SIPs.
I would now urge you to closely look at your investments in mutual funds and balance your portfolios with a reasonable allocation in this besides your other financial investments.
As you are aware, ICICIdirect.com is a cutting edge full-service transaction platform available 24x7, allowing you to invest in a wide range of Investment & Protection products. The product range is backed by our award-winning Research and Advisory services and supported by easy-to-use Financial Planning tools that can help you review your financial health and align your investments to clearly spelt out objectives.
You can avail all this online through ICICIdirect.com as well as offline through ICICIdirect - The Neighbourhood Financial Superstore in your vicinity , where you can interact with a trained and well informed Relationship Manager.
May I once again stress that 'we value your feedback'!
To reiterate, we cherish our relationship with you and recognize you as a discerning customer, whose feedback enables us to provide greater value.
With warm regards,
Vineet Arora
Head - Products and Distribution
This is further to my last email on our revised charges for mutual funds schemes post the SEBI regulation effective August 1, 2009.
We are delighted to record an overwhelming response to our new and changed charges. Most customers have appreciated the benefit that they tangibly see in our offer. Even so, a few customers, who have relatively smaller investments in SIPs, have expressed concerns.
From what we have understood, they seem to be saying that if their investments in mutual funds are large, then ICICIdirect.com is giving a very sweet deal. But when investments are in small SIPs, the charges appear expensive.
In the meantime, we want to reassure our customers, that when in our last email, I said 'we value your feedback', it was not just a sign-off line. We really meant it. Accordingly we are delighted to offer revised set of charges for SIPs and liquid funds.
Thus in case of SIPs, we would now charge Rs. 30/- per transaction or 1.5% of the transaction amount, whichever is lower. This would be effective retrospectively from August 1, 2009. To read the new fee structure click here.
To elaborate a little bit, let us take a small example:
If you have a SIP of Rs. 500/-, then what you were typically paying as entry load at 2.25% was Rs. 11.25/-. Under the revised charges of 1.5%, you pay Rs. 7.50/-, which is 33.3% lower than your previous charges.
Moreover, the charges on liquid funds, would be zero.
I also suggest that you take out a little time to click here and access our comprehensive FAQs that we have posted. We have collated this from various queries we have received through email and calls.
With this, I do hope and trust that we have addressed concerns of all our investors including those with smaller SIPs.
I would now urge you to closely look at your investments in mutual funds and balance your portfolios with a reasonable allocation in this besides your other financial investments.
As you are aware, ICICIdirect.com is a cutting edge full-service transaction platform available 24x7, allowing you to invest in a wide range of Investment & Protection products. The product range is backed by our award-winning Research and Advisory services and supported by easy-to-use Financial Planning tools that can help you review your financial health and align your investments to clearly spelt out objectives.
You can avail all this online through ICICIdirect.com as well as offline through ICICIdirect - The Neighbourhood Financial Superstore in your vicinity , where you can interact with a trained and well informed Relationship Manager.
May I once again stress that 'we value your feedback'!
To reiterate, we cherish our relationship with you and recognize you as a discerning customer, whose feedback enables us to provide greater value.
With warm regards,
Vineet Arora
Head - Products and Distribution
