MF Investment via HDFC Netbanking

[Birjuram]

All,

I am considering MF investments via HDFC Netbanking by applying for Investment Service Account.

Any experience about the charges involved for this please share.

Many thanks.

 

[Smart_trade]

All,

I am considering MF investments via HDFC Netbanking by applying for Investment Service Account.

Any experience about the charges involved for this please share.

Many thanks.

No idea about HDFC Investment Service Account but For netbanking there are no charges. I regularly do investments in mutual funds through my Axis Bank Net banking account and there are no charges for that. You can register with the AMC ( mutual fund company ) and they give you IPIN,Log in ID, Password for online investment.

Smart_trade

 

[TracerBullet]

I dont know about HDFC Investment Service Account, but IF its like ICICIDirect (seems so), then they act as distributers and get extra from expense ratio. In that case you will not be able to buy DIRECT versions of MF schemes that have lower expense ratio.

Do consider Direct MF instead of non direct. Over long periods, the 0.5-1 % expense difference will have double compound effect - 1) expense itself 2) Missed returns on that expense.

With a portfolio of say 50L, if we assume expense difference is 0.5%, you would be indirectly paying 50k EVERY year to Distributor. So its not free.

Once setup, I didnt find anything missing vs ICICI direct. You can get consolidated statements/transaction reports from CAMS/Karvy

 

[muralimr]

You can try using FundsIndia.com..
I am doing MF investment through them for long time and no extra charges & excellent service..