Question for NRIs with HDFC Securities

[Birjuram]

I(Non-US NRI) recently opened NRE,NRO,demate and trading accounts with HDFC. To my surprise, I found out that I can only trade in equities and ETF on their trading platform:annoyed::annoyed:. To me this is a big big surprise, how a trading platform not allow MF transaction when all major ICICI,Sharekhan,Kotak allows.

HDFC customer care said NRIs are not allowed to invest in MFs via HDFC trading platform. I am now checking ways to invest via HDFC netbanking using H-PIN.

Any comment or way forward

 

[DSM]

HDFC platform has limitations. Also check on the brokerage you pay. NRI's are considered as customers who can be 'milked' as they are captive client base. Speak to your relationship manager. You may be able to buy mutual funds from their banking/investing arm - offline.

I(Non-US NRI) recently opened NRE,NRO,demate and trading accounts with HDFC. To my surprise, I found out that I can only trade in equities and ETF on their trading platform:annoyed::annoyed:. To me this is a big big surprise, how a trading platform not allow MF transaction when all major ICICI,Sharekhan,Kotak allows.

HDFC customer care said NRIs are not allowed to invest in MFs via HDFC trading platform. I am now checking ways to invest via HDFC netbanking using H-PIN.

Any comment or way forward

 

[Birjuram]

You are right...most banks charge NRIs premium rates and provide mediocre service. But, this obvious thing is no where mentioned clearly on HDFC website nor was I made aware of this at any point. Indeed, I also share partial blame for not asking this as I thought this would be the most obvious feature of any trading platform.

I am trying for mutual funds via HDFC Netbanking, see how it goes and works.

 

[dineshN]

HDFC Sec charges 75 paise to NRI's for equity trading and that is too steep!
Also 1000 Rs per annum for DP maintenance charges.
Also mutual fund transaction facility is charged at 125 Rs quarterly (or monthly) separately besides entry load.