CHARGES OF ICICI DIRECT

POSTED BY sanjay ON November 29, 2011 4:00 pm COMMENTS (13)

What are the charges of mf investment through icici direct.com? I am investing in three mf through sip in physical mode.But I want to covert my investment in demat mode.Recently I went through an article of manishji where i found that i shall have to pay some transaction charges for each sip done through icici direct.com.Is it right?

13 replies on this article “CHARGES OF ICICI DIRECT”

  1. Dear Sanjay Goswami, when we are talking about online investing, netbanking is a precondition.

    Thanks

    Ashal

  2. SANJAY GOSWAMI says:

    Yes, now I have decided to open account with http://www.fundsindia.com.But currently my account is not net banking enabled.Is it compulsory to have net banking account???????

  3. Dear Sanjay Goswami, for investing in Gold ETF, demat account is compulsory. For Infra Bonds it’s optional. http://www.fundsindia.com has a tie up with amkay global for demat & trading services. If you want to use that set up for your demat requirement, you may do so. Else you may opt the MF services of http://www.fundsindia.com & may use demat account of your choice.

    Thanks

    Ashal

  4. VIGNESH BASKARAN says:

    Hi sanjay

    Yes u need to open a demat account with fundsindia for buying gold etf. but i dont know about infra bonds. ..

  5. SANJAY GOSWAMI says:

    Thanks all.But one more question.If I purchase infra bond or gold ETF through http://www.fundsindia.com shall I have to open a demat account or not?

  6. Dear Sanjay, http://www.fundsindia.com is merely a platform to invest electronically in MFs. Demat is not required to invest through http://www.fundsindia.com.

    Thanks

    Ashal

  7. VIGNESH BASKARAN says:

    Dear sanjay

    No need of any demat account for mutual fund transactions. They are having a separate account for mutual fund investments. So u need to fill all the details in the internet , download the form and submit that thru courier along with your identity , and address proof. They will complete the process in 3 business days. No need to provide any money for account opening. After that You can give ECS mandate for automatic deduction for sip investments and this will take another 3 weeks of time.

    They are providing excellent service. and you can rely them. For your safety u can take a print out and file all your account statement.

    I hope I am clear.
    Revert back if you have any query.

    Regards
    Vignesh

  8. SANJAY GOSWAMI says:

    Dear Ashal Jauhari,If I want to open account with http://www.fundsindia.com shall I have to open a seperate demat account??

    Thanks
    Ashal

  9. Dear Sanjay Goswami, I can’t say about moneysights but as I’m using http://www.fundsindia.com for myself – here is my own experience – whenever I’m doing a transaction using http://www.fundsindia.com, I’m getting account statements in e-mails from the MFs I’m dealing with. Some of the MFs are also sending me the physical statements also.

    This is apart from the usual alerts generated by the http://www.fundsindia.com & mailed to my registered e-mail id as well as sms confirmation on my mobile. Investments in multiple funds of a single AMC are done under a single folio no. & by quoting that folio no. to the registrar of the AMC (CAMS or Karvy), we may get separate statements or may invest either directly or with another broker in future.

    Thanks

    Ashal

  10. TheZionView says:

    Hi

    Opening a account with Fundsindia is similar to opening a mutual fund with any other broker. They are your broker and they give you services and they take the trail commission given my AMC to run their business.

    All that you invest is under ur name and you can get account statement from the AMC. So for example if Fundsindia or moneysights go bust tomorrow you just have to change your broker/make it direct and you can continue investing or holding you money.

    You can look at http://www.FundsIndia.com and also http://www.Moneysights.com both are offering transaction fee free service at the moment.

    Choose one and go ahead.

    I personally am using Fundsindia

  11. SANJAY GOSWAMI says:

    Dear ashal and vignesh, thanks for your prompt answers.If I invest through fundsindia.com will they give me any physical record of my mutual fund investments???If something happen to fundsindia in future then who will be responsible for that?

    Thanks
    Sanjay

  12. Dear Sanjay Goswami, ICICI Direct charges for SIP if done though it’s online portal. I’m not sure for physical SIPs done with I-direct.

    As rightly pointed out by dear Vignesh Baskaran, it’s advisable to go for http://www.fundsindia.com for your MF investments.

    Disclosure – I’m also an investor with http://www.fundsindia.com

    Thanks

    Ashal

  13. VIGNESH BASKARAN says:

    hi

    i dont know the charges of icici direct .

    But if you want to convert ur physical mode sip to any of the broker Fundsindia is the best place for mutual fund transaction without any extra charges.

    I cant see any negatives in fundsindia service.its wonderful.I have been investing in mutual funds for the past 2 months.

    I strongly recommend you to open an acocunt and transfer the physical one also to them

    http://www.fundsindia.com
    Happy investing!!!

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