POSTED BY January 7, 2012 11:45 am ONE COMMENTON
I have recently moved back to India from US. When in US, I had a NRE account with HDFC which was linked to an ISA account. I made multiple MF purchases via NRE account and I have ongoing SIPs via the same account.
After moving back, HDFC bank is asking me close my NRE account and get a new resident account but the jokers their have no idea what I should do about my ISA account.
Some of the jokers suggest that I have to re-link my ISA account to resident account. Others tells me that I have to get new ISA account linked to resident account and transfer MF units from old to new account. Biggest joker told me that I have to redeem all units.
Does anyone know what I can do in this situation? Please help if you have been in this situation.