nature of isa fees

POSTED BY desaichinmay22 ON July 14, 2012 8:58 pm COMMENTS (3)

Dear friends,
please explain me the nature of charges which hdfc puts on purchase of Mf units of value more than rs.10000.
Is it a one time charge or its recurring? Is it applicable on redemption as well?
Is it in addition to their quarterly chages of rs.100 plus service tax.
I will invest 10000+ on monthly basis in certain funds each.their charges
seems unreasonable if they are charging on every transaction.

3 replies on this article “nature of isa fees”

  1. Ashal Jauhari says:
    July 16, 2012 at 9:53 pm

    Dear Desaichinmay, HDFC bank has opted in for these charges so it ‘ll apply the charges as per usual SEBI circular on the issue. ISA fee which is to be paid by you every qrtr. is different thing.

    Thanks

    Ashal

    Reply
  2. BanyanFA says:
    July 15, 2012 at 4:12 am

    Hi,
    I would also like to obtain more clarity on these charges. The only thing which I am aware of it is that these charges were on the discretion of the respective distributors. I as a distributor did not opt for these charges to be deducted from my client’s account. Hence if I opted it out, it had a flat affect on all of my clients. Hence irrespective of the mutual fund form mentioning about such charges to be deducted, my clients were not affected by such charges owing to me opting out of such charges.

    Hence, you may want to clarify with your Financial Planner / distributor if he / she has opted out of such charges. If yes, you won’t be affected in the first place.

    Regards
    BanyanFA

    Reply
    1. desaichinmay22@gmail.com says:
      July 15, 2012 at 2:07 pm

      I have a ISA account with HDFC bank. They have opted in. But dont know if they will charge it on every transaction.Please share the exact nature of these charges.

      Reply

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