Comments on: Best way to apply in SIP

By: Binny Mathew

Binny Mathew — Fri, 23 Apr 2010 11:04:53 +0000

Hi All,

Most of you might not be aware of the HDFC ‘Investor Services Account” (ISA) which can be opened for free, if u have a savings/salary account with them. ISA account allows you to purchase any mutual fund of any company online without any entry load or any other charges.Just select the fund from the drop down that they provide and pay through internet banking. You can also do a SIP, sell units , view statements, view past and current NAVs etc. The only catch here is you have to pay a quarterly maintainance charge of Rs.100 flat (irrespective of the number of funds you buy/sell or the number of transactions), which i think is nominal for the service they offer . You dont have to run around different AMCs and fill huge forms and waste your cheque leaves.

By: Mahesh

Mahesh — Fri, 02 Apr 2010 09:50:25 +0000

thanks pankaj for the prompt response. Keep up the good work….

Regards
Mahesh

By: Pankaj Batra

Pankaj Batra — Fri, 02 Apr 2010 07:27:09 +0000

@Mahesh
Entry load has been scrapped by SEBI but brokers may charge brokerage or service charges for SIP or lump sum application.
Brokerage/Service charges varies from broker to broker and fund to fund.
You should be notified of the charges when you apply through them.

As per SEBI guidelines, payment of brokerage or commission, if any, to the sponsor or any of its associates, employees or their relatives, has to be disclosed in the half–yearly annual accounts of the mutual fund.

By: Mahesh

Mahesh — Fri, 02 Apr 2010 05:34:42 +0000

After the march 10th guidelines. Do brokers will charge me brokerage for SIP. For eg. I have a sharekhan account if I set up a SIP through sharekhan for HDFc equity fund.Will I be charged a brokerage every month by sharekhan ?

Regards
Mahesh

By: Pankaj Batra

Pankaj Batra — Mon, 29 Mar 2010 17:58:22 +0000

@Rajendiran
Every bank has its own policy on service charge/brokerage. You should consult with CitiBank regarding same.

By: Rajendran S

Rajendran S — Mon, 29 Mar 2010 12:35:06 +0000

If I submit for the SIP application for SBI Mutual fund through CITI bank account, will i be charged a brokerage ?

By: Pankaj Batra

Pankaj Batra — Fri, 12 Feb 2010 11:28:09 +0000

@Prasad,
Yes, you can transact in mutual funds on line without paying brokerage and other charges.
Most of the mutual fund companies provide this functionality on their website. You will have to login on different sites to transact in different funds.
Read more at : http://www.pankajbatra.com/finance/mutual-fund-investment-with-zero-entry-load/

By: Prasad

Prasad — Wed, 10 Feb 2010 15:25:55 +0000

Can we purchase mutual funds online without having to pay the brokerage.
Does CAMS, Karvy or mutual fund company has online transaction facility.

By: Santosh Surti

Santosh Surti — Fri, 06 Nov 2009 11:50:33 +0000

Good Info

By: broker

broker — Thu, 04 Jun 2009 00:25:14 +0000

Good piece.