FAQ (ICICIdirect Investment Account)

1. How do I become an ICICIdirect Investment account customer?

You can open an ICICIdirect Investment account by filling an application form. To open an account with us, Click here.

 

2. What is unique about ICICIdirect Investment account?

Investment Account is specifically designed keeping in mind your unique needs, and offers you a full suite of Investment products and services to help you achieve your financial goals. It enables you to invest in Mutual Funds, Life Insurance,General Insurance, IPOs, Fixed Deposits, Loans and many more exciting products and services. You may link your ICICI Bank or any other preferred bank account, appearing in the approved list of banks as provided by I-Sec, to your Investment account. Similarly, we can map your preferred bank account, if you do not have an ICICI Bank demat account already.

 

3. What if I already have a Demat/Bank account with other Bank or Depository?

You may link your ICICI Bank or any other preferred bank account, appearing in the approved list of banks as provided by I-Sec, to your Investment account. Similarly, we can also link your Investment Account with your preferred Demat account, if you do not have an ICICI Bank demat account already. However, this service is currently unavailable and will be introduced in a phased manner.

 

4. Can I have multiple Bank accounts mapped to my Investment account?

Yes, you can map up to 3 preferred bank account to your investment account. These accounts can either be in ICICI Bank or any other bank of your choice. Please find the list of banks as offered by ICICI Direct.

ICICI Direct will soon enable you to bring funds from Non-ICICI Bank accounts.

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5. Who is eligible for Investment account?

All resident Indians are eligible to open an Investment account as an individual or HUF.

Products and Features are enabled for NRI Customers based on select countries as per local laws & jurisdiction.

   

6. How do I request an Investment account opening form?

You can request for a form by:

Sending us an e-mail at helpdesk@icicidirect.com or
Visiting any of the ICICIdirect Stores

   

7. I have sent in my application, what happens next?

Your application will be processed and you will be informed once your application is accepted and the account is set up. In case your application is not processed, you will be contacted by our representative or by mail.

   

8. How do I know the status of my application?

You can check your account opening status on the customer service page of our website, under the "Know your account status" section. We shall also inform you by an e-mail in case your application has been accepted.

   

9. What type of Bank Account can I use with my investment account?

You will need an ordinary savings account with ICICI Bank Ltd or any of the preferred banks for your investment account. You can specify the account in the form and it will be linked with your Investment account. In case you do not have an existing ICICI Bank account, you may link a new ICICI Bank account or any other preferred bank account, appearing in the approved list of banks as provided by I-Sec, to your investment account.

   

10. New ICICIdirect Investment Customers

I am a new customer and have just been informed that my ICICIdirect Investment account has been set up. How do I make my first investment?
Please check our comprehensive section on Investment Guide

   

11. I want to make an investment. I do not have any money in my Bank Account. What do I do?

Please deposit a cheque/cash in your Bank Account by filling the pay-in slip. In case of a cheque, the money should come into your Bank account as soon as the cheque is cleared. Once you have funds in your bank account, you need to allocate the required amount for Investment. Alternatively you can sell some investment from your Demat Account in the Cash Segment and use the money to purchase the investment you want to buy. The amount of money required before placing a buy order or a sell order would depend on the value of the order.

   

12. I have deposited a cheque but I am still not able to place a purchase order:

There could be two reasons for this either the cheque is not cleared or you do not have adequate Investment Limit.

Please check your Bank balance to find if you have adequate funds in your designated bank account. It is possible that there could be a delay in clearance of cheques deposited, at times. Your Bank Branch representatives may be able to help provide more details on that.

Once you have sufficient funds in your account, they will be available to you for Investment only if you have allocated the funds specifically for Investment. You can do this by going to "Modify Allocation" in your Investment account, and adding specified amounts against the relevant category of investment product/service.

You can always reduce the funds allocated by you for Investment, to the extent that the amount allocated has not been blocked on account of orders placed by you. Once any amount is de-allocated, it can be withdrawn from your bank account.

   

13. Can I withdraw the amount allocated for Investment?

You can always reduce the funds allocated by you for Investment, to the extent that the amount allocated has not been blocked on account of orders placed by you. Once any amount is de-allocated, it can be withdrawn from your bank account.

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Online Investing
   

14. Do I get online confirmation of orders ?

Yes, you will get the online confirmation of execution of your transactions in Mutual Fund , FD and General Insurance.The execution happens on T+1 basis. The entire process is fully automatic and there are no manual interventions. You will also receive an e-mail confirming the orders placed by you at the end of the transaction day.

   

15. Can I modify my order?

No you cannot modify an order

   

16. Can I enter orders after the cut off hours? What happens to such orders?

Yes,you can enter the orders post cut-off. Orders placed post cut off will get the processed for next business day.

   

17. How will I be informed of my  order execution?

The order executions are confirmed online and the order book is updated on T+1. In the Order Book, the status of each order is updated . On execution, the status changes to 'Executed' You can view details of the order executed by clicking on the link. In the Order Book you will be able to see all the orders that have taken place. On clicking the link of Tran ID. you will be able to see details of the order execution.

   
Mutual Fund
   
   

What is a Mutual Fund?

A Mutual Fund is a body corporate that pools the savings of a number of investors and invests the same in a variety of different financial instruments, or securities. The income earned through these investments and the capital appreciation realized by the scheme are shared by its unit holders in proportion to the number of units owned by them. Mutual funds can thus be considered as financial intermediaries in the investment business who collect funds from the public and invest on behalf of the investors. The losses and gains accrue to the investors only. The Investment objectives outlined by a Mutual Fund in its prospectus are binding on the Mutual Fund scheme. The investment objectives specify the class of securities a Mutual Fund can invest in. Mutual Funds invest in various asset classes like equity, bonds, debentures, commercial paper and government securities.

   

What is an Asset Management Company?

An Asset Management Company (AMC) is a highly regulated organization that pools money from investors and invests the same in a portfolio. They charge a small management fee, which is normally 1.5 per cent of the total funds managed.

   

What is NAV?

NAV or Net Asset Value of the fund is the cumulative market value of the assets of the fund net of its liabilities. NAV per unit is simply the net value of assets divided by the number of units outstanding. Buying and selling into funds is done on the basis of NAV-related prices. NAV is calculated as follows:

NAV=Market value of the fund's investments+Receivables+Accrued Income- Liabilities-Accrued Expenses / Number of Outstanding units

   

How often is the NAV declared?

The NAV of a scheme has to be declared at least once a week. However many Mutual Fund declare NAV for their schemes on a daily basis. As per SEBI Regulations, the NAV of a scheme shall be calculated and published at least in two daily newspapers at intervals not exceeding one week. However, NAV of a close-ended scheme targeted to a specific segment or any monthly income scheme (which are not mandatorily required to be listed on a stock exchange) may be published at monthly or quarterly intervals.

What are the benefits of investing in Mutual Funds?
1. Qualified and experienced professionals manage Mutual Funds. Generally, investors, by themselves, may have reasonable capability, but to assess a financial instrument a professional analytical approach is required in addition to access to research and information and time and methodology to make sound investment decisions and keep monitoring them.
2. Since Mutual Funds make investments in a number of stocks, the resultant diversification reduces risk. They provide the small investors with an opportunity to invest in a larger basket of securities.
3. The investor is spared the time and effort of tracking investments, collecting income, etc. from various issuers, etc.
4. It is possible to invest in small amounts as and when the investor has surplus funds to invest.
5. Mutual Funds are registered with SEBI. SEBI monitors the activities of Mutual Funds.
6. In case of open-ended funds, the investment is very liquid as it can be redeemed at any time with the fund unlike direct investment in stocks/bonds.

   

Are there any risks involved in investing in Mutual Funds?

Mutual Funds do not provide assured returns. Their returns are linked to their performance. They invest in shares, debentures and deposits. All these investments involve an element of risk. The unit value may vary depending upon the performance of the company and companies may default in payment of interest/principal on their debentures/bonds/deposits. Besides this, the government may come up with new regulation which may affect a particular industry or class of industries. All these factors influence the performance of Mutual Funds.

   

What are the different types of Mutual funds?

  1. On the basis of Objective
    • Equity Funds/ Growth Funds
      Funds that invest in equity shares are called equity funds. They carry the principal objective of capital appreciation of the investment over the medium to long-term. The returns in such funds are volatile since they are directly linked to the stock markets. They are best suited for investors who are seeking capital appreciation. There are different types of equity funds such as Diversified funds, Sector specific funds and Index based funds.
    • Diversified funds
      These funds invest in companies spread across sectors. These funds are generally meant for risk-taking investors who are not bullish about any particular sector.
    • Sector funds
      These funds invest primarily in equity shares of companies in a particular business sector or industry. These funds are targeted at investors who are extremely bullish about a particular sector.
    • Index funds
      These funds invest in the same pattern as popular market indices like S&P 500 and BSE Index. The value of the index fund varies in proportion to the benchmark index.
    • Tax Saving Funds
      These funds offer tax benefits to investors under the Income Tax Act. Opportunities provided under this scheme are in the form of tax rebates U/s 88 as well saving in Capital Gains U/s 54EA and 54EB. They are best suited for investors seeking tax concessions.
    • Debt / Income Funds
      These Funds invest predominantly in high-rated fixed-income-bearing instruments like bonds, debentures, government securities, commercial paper and other money market instruments. They are best suited for the medium to long-term investors who are averse to risk and seek capital preservation. They provide regular income and safety to the investor.
    • Liquid Funds / Money Market Funds
      These funds invest in highly liquid money market instruments. The period of investment could be as short as a day. They provide easy liquidity. They have emerged as an alternative for savings and short-term fixed deposit accounts with comparatively higher returns. These funds are ideal for Corporates, institutional investors and business houses who invest their funds for very short periods.
    • Gilt Funds
      These funds invest in Central and State Government securities. Since they are Government backed bonds they give a secured return and also ensure safety of the principal amount. They are best suited for the medium to long-term investors who are averse to risk.
    • Balanced Funds
      These funds invest both in equity shares and fixed-income-bearing instruments (debt) in some proportion. They provide a steady return and reduce the volatility of the fund while providing some upside for capital appreciation. They are ideal for medium- to long-term investors willing to take moderate risks.
    • Hedge Funds
      These funds adopt highly speculative trading strategies. They hedge risks in order to increase the value of the portfolio.
  2. On the basis of Flexibility
    • Open-ended Funds
      These funds do not have a fixed date of redemption. Generally they are open for subscription and redemption throughout the year. Their prices are linked to the daily net asset value (NAV). From the investors' perspective, they are much more liquid than closed-ended funds. Investors are permitted to join or withdraw from the fund after an initial lock-in period.
    • Close-ended Funds
      These funds are open initially for entry during the Initial Public Offering (IPO) and thereafter closed for entry as well as exit. These funds have a fixed date of redemption. One of the characteristics of the close-ended schemes is that they are generally traded at a discount to NAV; but the discount narrows as maturity nears. These funds are open for subscription only once and can be redeemed only on the fixed date of redemption. The units of these funds are listed (with certain exceptions), are tradable and the subscribers to the fund would be able to exit from the fund at any time through the secondary market.
    • Interval funds
      These funds combine the features of both open-ended and close-ended funds wherein the fund is close-ended for the first couple of years and open-ended thereafter. Some funds allow fresh subscriptions and redemption at fixed times every year (say every six months) in order to reduce the administrative aspects of daily entry or exit, yet providing reasonable liquidity.
  3. On the basis of geographic location
    • Domestic funds
      These funds mobilize the savings of nationals within the country.
    • Offshore Funds
      These funds facilitate cross border fund flow. They invest in securities of foreign companies. They attract foreign capital for investment.

   

Is there is any tax applicable on the redemption of mutual funds?

Yes. The tax applicable is called as STT i.e. Security transaction tax which is 0.25%. STT is applicable only in case of redemption of equity linked schemes

   

What are the different plans that Mutual Funds offer?

  1. Growth Plan and Dividend Plan
    A growth plan is a plan under a scheme wherein the returns from investments are reinvested and very few income distributions, if any, are made. The investor thus only realizes capital appreciation on the investment. This plan appeals to investors in the high income bracket. Under the dividend plan, income is distributed from time to time. This plan is ideal to those investors requiring regular income.
  2. Dividend Reinvestment Plan
    Dividend plans of schemes carry an additional option for reinvestment of income distribution. This is referred to as the dividend reinvestment plan. Under this plan, dividends declared by a fund are reinvested on behalf of the investor, thus increasing the number of units held by the investors.
  3. Automatic Investment Plan
    Under the Automatic Investment Plan (AIP) also called Systematic Investment Plan (SIP), the investor is given the option for investing in a specified frequency of months in a specified scheme of the Mutual Fund for a constant sum of investment. AIP allows the investors to plan their savings through a structured regular monthly savings program.
  4. Automatic Withdrawal Plan
    Under the Automatic Withdrawal Plan (AWP) also called Systematic Withdrawal Plan (SWP), a facility is provided to the investor to withdraw a pre-determined amount from his fund at a pre-determined interval.

   

What is Exit Load?

The non refundable fee paid to the Asset Management Company at the time of redemption/ transfer of units between schemes of mutual funds is termed as exit load. It is deducted from the NAV(selling price) at the time of such redemption/ transfer.

   

What is Purchase price?

Purchase price is the price paid by you to purchase a unit of a mutual fund scheme.

   

What is redemption price?

Redemption price is the price received on selling units of open-ended scheme. If the fund does not levy an exit load, the redemption price will be same as the NAV. The redemption price will be lower than the NAV in case the fund levies an exit load.

   

What is repurchase price?

Repurchase price is the price at which a close-ended scheme repurchases its units. Repurchase can either be at NAV or can have an exit load.

   

What is a Switch?

Some Mutual Funds provide the investor with an option to shift his investment from one scheme to another within that fund. For this option the fund may levy a switching fee. Switching allows the Investor to alter the allocation of their investment among the schemes in order to meet their changed investment needs, risk profiles or changing circumstances during their lifetime.

   

Is there any minimum lock-in period for my units? 

There is no lock-in period in the case of open-ended funds. However in the case of tax saving funds a minimum lock-in period is applicable. The lock-in period for different tax saving schemes are as follows:

section minimum lock-in period
U/s 88 3 yrs.
U/s 54EA 3 yrs.
U/s 54EB 7 yrs.

   

Who are the issuers of Mutual funds in India?

ICICIdirect.com allows you to choose from more than 1400 Mutual funds offered by 27 leading Fund Houses. To view the complete list of AMCs, Click here

   

What are the factors that influence the performance of Mutual Funds?

The performances of Mutual funds are influenced by the performance of the stock market as well as the economy as a whole. Equity Funds are influenced to a large extent by the stock market. The stock market in turn is influenced by the performance of the companies as well as the economy as a whole. The performance of the sector funds depends to a large extent on the companies within that sector. Bond-funds are influenced by interest rates and credit quality. As interest rates rise, bond prices fall, and vice versa. Similarly, bond funds with higher credit ratings are less influenced by changes in the economy.

   

As a new investor how do I select a particular scheme?

Choice of any scheme would depend to a large extent on the investor preferences. For an investor willing to undertake risks, equity funds would be the most suitable as they offer the maximum returns. Debt funds are suited for those investors who prefer regular income and safety. Gilt funds are best suited for the medium to long-term investors who are averse to risk. Balanced funds are ideal for medium- to long-term investors willing to take moderate risks. Liquid funds are ideal for Corporates, institutional investors and business houses who invest their funds for very short periods. Tax Saving Funds are ideal for those investors who want to avail tax benefits.

An important aspect while selecting a particular scheme is the duration of the investment. Depending on your time horizon you can select a particular scheme. Besides all this, factors like promoter's image, objective of the fund and returns given by the funds on different schemes should also be taken into account while selecting a particular scheme.

   

What are the rights that are available to a Mutual Fund holder?

As per SEBI Regulations on Mutual Funds, an investor is entitled to

1. Receive Unit certificates or statements of accounts confirming your title within 6 weeks from the date your request for a unit certificate is received by the Mutual Fund.
2. Receive information about the investment policies, investment objectives, financial position and general affairs of the scheme;
3. Receive dividend within 42 days of their declaration and receive the redemption or repurchase proceeds within 10 days from the date of redemption or repurchase
4. The trustees shall be bound to make such disclosures to the unit holders as are essential in order to keep them informed about any information which may have an adverse bearing on their investments.
5. 75% of the unit holders with the prior approval of SEBI can terminate the AMC of the fund.
6. 75% of the unit holders can pass a resolution to wind-up the scheme.
7. An investor can send complaints to SEBI, who will take up the matter with the concerned Mutual Funds and follow up with them till they are resolved.

   

Will I receive a Statement of Holding and Transaction Statement for my order executed in Mutual Fund?

The Mutual Fund Statement of Transactions and Holding will be updated on monthly basis on the site. Customer can view and download the statement from the ICICI Direct Site.

   

It is very often said that Mutual Funds have performed badly. Please explain?

The performance of Mutual Funds is evaluated on the basis of absolute increase or decrease in its Net Asset Value (NAV). However a fund's performance should be evaluated on the basis of a comparison with the relevant indices and alternative instruments. The NAV varies from fund to fund. Therefore this argument is not entirely true. However some funds have performed poorly with their NAV quoting well below their original IPO price.

   

Can I make a nomination for the mutual fund units purchased through www.icicidirect.com?

Yes. The website www.icicidirect.com. provides you a facility to make nomination(s) for your Mutual Fund units purchased online.

   

Will nomination(s) made in my linked demat/ bank account(s) be automatically updated for the mutual fund units purchased online?

No. Nomination details of your linked bank or demat account are not considered for your online mutual fund purchases. Hence, you would be required to make a separate nomination request for your mutual fund folios.

   

What is the effect of making a nomination?

Nomination causes all rights and/or amount(s) payable in respect of your Mutual Fund Holdings to vest in and be transferred to your nominee upon your death. If your legal heir is different from your nominee, your legal heir cannot dispute this action as transfer by the respective AMC(s) in favour of a Nominee acts as valid discharge by the AMC(s) against the legal heir of the deceased holder.

   

Who can make a nomination?

Investors in the Category of "Individuals" are permitted to make a nomination for their mutual fund units. Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family and a holder of Power of Attorney are not allowed to nominate.

   

Whom can I nominate?

You can nominate any individual as your nominee. However, you cannot nominate the following as your nominee with regard to your mutual fund units:

1. A Trust
2. A Society
3. A Body Corporate
4. A Partnership Firm
5. Karta of a Hindu Undivided Family
6. A Power of Attorney Holder

   

Can I nominate a Non Resident Indian as my nominee?

Yes. A non-resident Indian can be a nominee subject to the exchange control regulations in force, from time to time.

   

Can I nominate a minor as my nominee?

Yes. You are permitted to nominate a minor. However, if you nominate a minor, do provide the name and address of the minor's guardian in the nomination request.

   

Can I nominate more than one person in my Mutual Fund Folios ?

You can nominate only one person per mutual fund folio held by you.

If you hold more than 1 folio, you can nominate different individuals for each folio but multiple nominees under the same folio is not permitted.

   

When will I be able to see my order details?

The order book reflects details of all the orders placed by you. All successful transactions will be updated in the Unit Holding link within T+3 or T+5 days (depending on the AMC's rules and regulation) .In certain cases, depending on the scheme charteristics mentioned in the offer document, the purchases will be processed within timeline other than T+3 or T+5(such as last Thursday of the month,first Wednesday of the month etc.)

Do I have to pay any entry load for mutual fund purchases made after August 01, 2009?

No. Prior to the implementation of the SEBI guideline, an entry load of 2.25% was charged on all Mutual fund purchases. As per the new guidelines issued by SEBI, with effect from August 1, 2009, entry load will not be charged on purchases in existing mutual fund schemes or on schemes launched thereafter . However, any investment made by you in an NFO which was launched prior to August 1, 2009 will continue to attract entry load and other charges as specified in the offer document.

   

What exit load will I have to pay as on date?

Exit Load varies for different schemes and is generally charged as a percentage of NAV. The Exit load normally varies between 0.25% to 2% of the redemption value. Some mutual funds however do not charge any exit load. Such mutual funds are referred to as 'No Load Funds'.

   

How does the new SEBI Guidelines impact my mutual fund transactions ?

SEBI Guidelines stipulate that with effect from August 1, 2009,there shall be no entry load for any Mutual Fund scheme whether existing or new. SEBI Guidelines further stipulate that investors will be required to pay upfront commission directly to distributors. This means that earlier if you invested Rs. 10,000/- in a mutual fund, your total invested amount was reduced to the extent of entry load charged ie Rs.225 (@ 2.25%) thereby making your actual investment Rs9775/-. However, w.e.f August 1, 2009, the entire Rs. 10.000/- invested by you would be your investment in the mutual fund. However, while you will not be charged any entry load, you will have to pay 'Transaction charges' directly to your distributor as per the applicable fee structure. Click here for more information on the I-Sec Fee structure.

   

In light of the new SEBI guidelines, what would be my effective purchase price?

Effective Purchase Price is the sum of the NAV, transaction charges and service charges divided by the number of units purchased. For example: Let's say you purchased 1,000 MF units for Rs. 10,000. If the transaction and service charges applicable are Rs. 100 and Rs. 10.30 respectively, then the effective purchase price per unit will be Rs. 10.11 (i.e. Rs. 10110.30/1000 units). It is the price which you actually pay to purchase a single unit of a Mutual Fund Scheme.

   

I have invested in a New Fund Offer (NFO) of a scheme launched prior to August 1, 2009. Will I too get the benefit of the new SEBI Guidelines on entry load?

No. Entry load has been abolished only with effect from August 1, 2009. Any investment made by you in an NFO which was launched prior to August 1, 2009 will continue to attract Entry Load and other charges as specified in the offer document.

   

Will I be charged Transaction Charges on investments made after August 01, 2009, in NFOs launched prior to August 01, 09?

Yes. Although upfront Transaction Charges and Service Tax(ST) would be charged to you on placing a purchase order in NFO launched prior to August 1, 2009, such charges will be refunded subsequently.

   

Do I need to allocate funds for investing in Mutual Funds?

Yes, just as in the secondary market, you will need to allocate funds for the purpose of investing in Mutual Funds. Under the Modify Allocation option you would have a separate section for allocating money for Mutual Funds. Also the funds which are allocated for investments in Mutual Fund will not be allowed for transactions in the secondary market.

   

Can I modify /cancel my transactions?

Yes, while placing any mutual fund order, modify or cancel option would be available to you till the final confirmation of the order is placed by you. Once you click on Final Confirmation you cannot modify or cancel the order placed by you. You can only modify / cancel any Systematic Investment Plan (SIP) / Systematic Withdrawal Plan (SWP) order placed by you.

   

Will I get an online confirmation of my transactions?

As soon as you confirm your order you can view the details of your transaction in the order book. Also an email will be sent to your email address.

   

Can I transact anytime during the day?

Yes, you can transact at any time of the day. However, in order to get the NAV of the current day you would have to transact before the cut-off time of the scheme. If you place any order after the said cut-off time, you would be eligible for NAV of the next day. As per SEBI guidelines the cutoff time for accepting orders in Non-liquid funds is 1500 hrs and in Liquid funds it is 1200 hrs. However taking into account internal transaction processing time, ICICIdirect.com has kept the cutoff time, for accepting orders in Non-liquid funds as 1400 hrs and in Liquid funds as 1100hrs.

   

Can I purchase after the time which is displayed beside the scheme?

In order to get the NAV of the same day, you can purchase up to the cut-off time of the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).

   

Is there a minimum transaction amount for each scheme?

As decided by the fund, there is a minimum transaction amount indicated against each scheme. You will get to see the minimum transaction amount in the Place Order screen.

   

Can I use the funds allocated for investments in secondary market towards investments in Mutual Fund ?

In order to invest in Mutual Fund, you will need to separately allocate funds for the same. This option is available to you in the Modify Allocation screen.

   

After my first purchase, can I immediately enter another transaction?

After your first purchase you will not be permitted to transact for a period of 4 to 7 days depending on the processing time of the Mutual Funds' Registrar. After you place an investment order in any Mutual Fund for the first time a Folio Number is generated for that particular fund. Until the Folio number is generated you will not be allowed to place any further orders for that particular Mutual Fund. After the Folio Number is generated you can place any number of order in any schemes of the Mutual Fund.

In the case of Franklin Templeton MF and Birla Sun Life MF, the Folio Number is generated for each scheme offered by the MF. Hence the processing time would be for each scheme of the Mutual Fund. Suppose if you place an order for a Liquid Fund, then a folio number is generated for that scheme only and to place an order for the first time in a balanced fund you will have again wait till a new folio number is generated.

   

Who are the users of this facility and how?

All ICICI Direct customers who are Non-resident Indians, whose accounts are activated, can use the same login Id and password to invest in Mutual Funds. You can invest in units of a Mutual fund from either the Non-Pins NRE or Non-Pins NRO account.

   

I do not have an account with ICICI Direct, but would like to invest in Mutual Funds. What do I do?

You can contact any ICICI Center to open accounts or fill in the application form on the web site and our Customer Service Executive will visit you for opening your Investment account. Once the processing of your form is completed, you can start investing in Mutual Funds online.

   

How do I convert my existing portfolio units to ICICIdirect's portfolio?

You can transfer in your existing mutual fund units to your ICICIdirect account by filling a Transfer-in request form which is available on the site. However this facility of Transfer-in can be availed only if you're a sole holder in the physical units else your request cannot be processed. Transfer In request can be placed through the "Transfer In" link under the Purchase hyperlink of the Mutual Fund page. Fill in the existing folio number alloted for that scheme. Thereafter you need to take a printout of the duly filled form and forward it to ICICIdirect. In case of transfer-in of dividend schemes, the dividend re-investment option will by default be activated and will appear as "Y". In case the dividend re-investment option as per your records is dividend pay-out "N", to change the dividend re-investment option you can use the modify dividend re-investment hyperlink. The units are converted to electronic form within 15 days. You can check the status of your request the TI Book link. Once the units are converted into electronic form, the same will be updated in the Unit Holdings link.

   

How do I purchase from your web site?

Click on the link "Place Order " in the MF Trading section. This will take you to all the schemes of the fund. The details of the scheme are indicated against each scheme. Select PURCHASE in the drop down menu and then click on GO to place your purchase order. You can also select the option for dividend reinvestment through the purchase order screen.

In case you are an NRI, first you need to decide is whether you want repatriation benefit or not. If you want repatriation benefit, select the Non-Pins NRE account. Select Non-Pins NRO account if you do not want repatriation benefit.

   

Can I as an NRI buy Mutual Fund Units in the PINS account?

No, you cannot purchase mutual fund units in the PINS account. You can only do so in the Non-Pins account.

   

When will I be able to see my purchase details?

The details of your transactions will be immediately updated in your order book. An email will also be sent to you and the entry in your portfolio will be displayed within T+3 days.

   

How do I redeem my Mutual Fund scheme units?

Click on the link "Place Order" in the MF Trading section. This will display all the scheme units held by you, with details against each scheme. Select the REDEEM option in the drop down menu and then click on GO to place your redemption request. You can either redeem a certain amount or specify the number of units held by you. There is a minimum transaction amount that is indicated against each scheme. A cut off time is also displayed to get that day's NAV. The details of your transactions will be immediately updated in your order book, an email will be sent and your bank account will be credited after T+3 days (the date of pay-out would differ for scheme and will not necessarily be T+3 days).

   

Will TDS be deducted on the redemption of units? If yes what will be the basis of deduction of TDS

TDS is not deducted on the sale proceeds for Resident Indians.

In case of NRI's, TDS will be deducted on the sale proceeds. The TDS will deducted depending upon whether it is a short-term capital gain or long term capital gains. For short term capital gain the tax is deducted @ 33% while in case of long term capital gains it is deducted @ 11%.

   

Where can I see the TDS deducted on the sale proceeds?

The TDS deducted for NRI can be seen by Clicking on the executed hyperlink against the transaction. You will find the complete details of the redemption including the TDS deducted.

   

How do I switch from a particular scheme?

Click on the link "Place Order" in the MF Trading section. This will display all the scheme units held by you, with details against each scheme. Select the SWITCH option in the drop down menu and then click on GO to place your switch request. Click on the scheme you wish to Switch From. There is a minimum transaction amount indicated against the scheme. Also the scheme you wish to "Switch To" carries a minimum transaction amount. Therefore the amount which you will be switching will be higher of the two. The details of your transactions will be immediately updated in your order book, an email will be sent showing the "Switch From" and "Switch To" units. The entry in your portfolio will be displayed within T+3 days. Since this does not involve any transfer of funds, your bank account will not be affected.

Switch Out is treated as redemption. Hence, in case of NRI's, TDS will be deducted on Switch out transaction also. The gross amount after deducting the TDS will be used for switch in Transaction i.e. units worth equivalent to the net amount will be utilized to switching in into the desired scheme.

   

How does the Automatic/ Systematic Investment Plan (AIP/ SIP) work?

Select the option "SIP" followed by "Create a Systematic Investment Plan". Select the fund name and the scheme. A screen will appear with the details of that scheme similar to that in the Purchase screen. In addition to these details you will have to fill up the frequency with which the investments will be made and the start date. From the date specified a fixed amount will be debited to your bank account. An email will be sent showing the details of the amount invested and the entry in your portfolio will be displayed within T+3 days. You can however enter into only one plan per scheme. In case you do not have sufficient funds in your account in any specific month, the SIP would be rejected for that particular month.

   

How does the Automatic/ Systematic Withdrawal Plan (AWP/SWP) work?

Select the option for "Systematic Withdrawal Plan". Select the fund name and the scheme. A screen will appear with the details of that scheme similar to that in the Redemption screen. In addition to these details you will have to fill up the frequency with which the withdrawals will be made and the start date. From the date specified a fixed amount will be credited to your bank account. An email will be sent showing the details of the amount withdrawn and the entry in your portfolio will be displayed within T+3 days. You can however enter into only one plan per scheme. However if a SWP\AWP request is rejected for insufficient units, then the entire Plan will be scraped automatically. You will also receive an e-mail indicating that the plan has been scrapped.

   

Will TDS be deducted on dividend received?

No, TDS will not be deducted on Dividend payments for both Resident as well as NRI's.

   

If I change my address, what do I need to do?

For change of address, you will have to send a letter to us with both the old and new address mentioned in it. All the co-holders should sign this letter. It can be sent by post or faxed to us.

   

Can I transact on a holiday?

Yes, You can place your request even on a holiday. However, the request would be processed on the next business day and respective NAV would be applicable as per the Mutual Fund's offer document.

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GOI Savings Bonds
   

What are different kinds of bonds available? What is the maturity period?

Currently 8% Savings (Taxable) Bonds are available. The same are available online through ICICIdirect. The maturity period of 8% Saving Bonds is 6 years without any early redemption option.

   

Who issues Savings bonds? Is payment guaranteed on maturity?

Saving Bonds are issued by the Government of India. As these bonds are sovereign in nature, payment is guaranteed on maturity.

   

Who can invest in Saving Bonds through ICICIdirect?

All Individuals and Hindu Undivided Families (HUFs), who are customers of ICICIdirect can invest in these Bonds through ICICIdirect.

   

What is the role of ICICI Bank?

All applications made through ICICIdirect shall be handled by ICICI Bank who would act as a RBI authorized Receiving Office. ICICI Bank would allot the Bond Ledger Account (BLA) no. for the investments made through ICICIdirect.

   

What is the minimum and maximum permissible investment?

The minimum permissible investment for 8% Savings Bonds is Rs.1000/- and in multiples of Rs. 1000/- thereof.There is however is no maximum limit of investment.

   

How do I apply for Saving Bonds through ICICIdirect?

For investing in Saving Bonds you will need to first allocate funds for the purpose of investing. You will need to click on the modify allocation page and allocate funds for investing in "Mutual Funds, IPO and Others". Once sufficient funds have been allocated you can apply for these bonds by clicking on the button for GoI bonds. Thereafter click on the place order button and apply for Bonds by filling in the required details.

   

When is Interest Payable?

Interest is payable at half-yearly intervals from the date of issue or compounded with half-yearly rests, payable on maturity along with the principal, as the investor may choose. The interest payment dates are 1st July and 1st January every year.

   

How would I receive the Interest?

The interest on your Saving Bonds would be directly credited to your ICICI Bank account linked to ICICIdirect.

   

What is the value date? How is the same determined?

Value date is the date from which the bond starts earning interest. In the case of investments in Saving Bonds through ICICIdirect, all investments made before 2:30 p.m. i.e. the cut-off time, would receive the value date as the transaction date. All investments made after 2:30 p.m. would receive the next business day's value date. Investment made on Saturday or other holidays would receive the next business day's value date. Since the processing of applications would be at Mumbai, bank holidays as applicable in the State of Maharashtra would apply and next working day shall be considered as Business Day.

For e.g.: Investment made on June 9th before 2:30 p.m. would receive the value date of June 9th itself. However if the investment were made on June 9th, after 2:30 p.m. the value date would be of June 10th. If June 10th and 11th fall on a Saturday and Sunday respectively, the value date would be of the next business day i.e. June 12th. If June 9th is a bank holiday in Maharashtra, even for investments made before 2.30 p.m., the value date shall be June 13, Monday.

   

Will I receive any confirmation for the transaction?

Yes. an e-mail will be sent to you detailing the transaction.

   

When will I receive my Bond Ledger Account number?

As soon as the bonds are credited to your Bond Ledger Account, an e-mail will be sent to you specifying the Bond ledger Account number and the number of bonds held. You can also view your Bond Ledger Account number on the Portfolio Page and the Order Book.

ICICI Bank will also send a certificate of holding detailing your investment. This should reach you within 15 days of allotment of Bond Ledger Account number.

   

Can I view my holdings Online?

In case you wish to view your holdings online, please click on the option "portfolio" in the GoI Bond Page. You will be able to view your investments in 8% Saving Bonds through ICICIdirect.

   

Are joint holders permitted?

As your e-broking account is a single account, all investments through icicidirect.com in 8% Saving Bonds would have a single holder and no joint holdings would be permitted.

   

How can I appoint a nominee for my Bonds?

In case you wish to make any nomination for your Bonds, you shall have to download the nomination form put up on the website, and send us the duly filled form. You can see the status of your nomination on the website on the "order book" and the "portfolio page" of the GoI Bond page. You will have to fill up the nomination details on the nomination page on the site itself otherwise the nomination will not be processed.

   

How can I redeem the bonds?

On maturity of bonds you would need to discharge your Certificate of Holding and submit the same to the nearest branch of ICICI Bank.

   

In case I do not encash the bonds on expiry will I continue to earn interest?

No interest would be payable after maturity in case the bonds are not encashed.

   

Can I transfer the bonds prior to maturity?

8% Saving Bonds are non-transferable except by way of gift to a relative as defined in Section 6 of the Indian Companies Act, 1956.

   

What are the tax benefits available?

Interest on 8% Saving Bonds will be taxable under the Income-Tax Act, 1961 as applicable according to the relevant tax status of the bondholder. However these bonds will be exempt from Wealth-tax under the Wealth-tax Act.

   

Is Tax deductible at source on the interest payment in case of 8% Saving Bonds?

In case of 8% Saving Bonds tax will be deducted at source while making payment of interest on the non-cumulative bonds from time to time and credited to Government Account. Tax on interest portion of the maturity value will be deducted at source at the time of payment of the maturity proceeds on the cumulative bonds and credited to Government Account.

   

Can I use these bonds as collateral for obtaining loans?

No, the Bonds are not tradable in the secondary market and are not eligible as collateral for loans from banks, financial Institutions and Non Banking Financial Companies, (NBFC) etc.

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ICICI HFC Fixed Deposit
   

1. What options are available while opening a Fixed Deposit ("FD") account with ICICI Home Finance Company Limited ("ICICI HFC")?

You have the option of opening/renewing the fixed deposits under either of the traditional or cumulative scheme. Under the traditional scheme, interest would be paid on monthly, quarterly, or annual basis depending on the scheme subscribed to, by you as depositor. In cumulative deposits, interest is accumulated with the deposit amount, which again is eligible to earn interest on monthly/quarterly/annually compounding principle. The principal as well as the accumulated interest is paid to the customer only upon maturity or premature withdrawal.

   

2. Who can open FD account with ICICI HFC?

Following entities can open FD account with ICICI HFC:
(a) Any resident Indian
(b)Any individual who comes under definition of ''Person of Indian Origin' as defined by the Government of India/Reserve Bank of India, from time to time.
(c)Non-individual resident legal entities like Hindu Undivided Family, Trust, Association of Persons, Societies, Firms, Companies, etc.

   

3. Under what regulations, the fixed deposits accepted by HFC's are governed?

The public fixed deposit schemes of HFC's are governed by regulations issued by National Housing Bank ("NHB"), the regulatory authority of HFC's. The applicable regulations include National Housing Bank Act, 1987, Housing Finance Companies (NHB) Directions, 2001, guidelines circulars and notifications issued by NHB from time to time.

   

4. How do purchase ICICI HFC FD online from www.icicidirect.com ?

You may logon to www.icicidirect.com with your login id & password, click on " Fixed Deposit " & select ICICI Home Finance Fixed Deposit.

   

5. What is the minimum amount required to place a FD with ICICI HFC?

The minimum amount required to place a Fixed Deposit with ICICI HFC is Rs. 5,000 and thereafter-in multiples of Rs. 1,000.

   

6. Will I get the FD receipt?

Yes, ICICI HFC will issue FD receipt acknowledging the money deposited by you with us.

   

7. When will I get the FD receipt?  (Check timelines with Operations team)

FD receipt (for customers not opting for Nomination) will reach the customers within 7 working days from the date of order placement.

FDR for customers who are opting for nomination facility will only be dispatched after processing of nomination form. Customer will receive FDR within 3 weeks post this.

   
Features
   

8. What is the range of tenure for which I can open a FD account?

If you are a resident Indian individual/entity, you can open a FD account with ICICI HFC for a minimum tenure of 1 year to maximum tenure of 7 years. However, within these time limits, the tenure of deposits may differ from scheme to scheme.

   

9.At what frequency will I receive interest on my FD?

Interest is paid as per the FD income plan selected by you while depositing money with ICICI HFC. For the Traditional scheme, the interest on FD is paid on a monthly/quarterly/annual basis based on the monthly / quarterly / annual Income Plan opted by you. For the Reinvestment scheme, the interest is compounded to the deposit amount on an annual basis on March 31st, every year and the accumulated interest will be paid on maturity along with deposit amount.

   

10.What is compounding in FDs?

In case of deposit with Cumulative option, interest accrued is added to the existing deposit amount at the end of every year on 31st March. Cumulative scheme of ICICI HFC's FD is compounded annually.

   

11. What is the start date of interest on FD?

Interest would accrue from the date when the money is debited from your ICICI Bank account. ICICI HFC may revise the above policy of interest accrual from time to time, at its sole discretion.

   

12. Can different FD accounts be opened in the name of single depositor?

Yes, single depositor may open several deposit accounts in the same name only.

   

13. What is 'nomination'?

Through nomination facility, the depositor may nominate a person to whom ICICI HFC should pay the deposit amount in case of death of the depositor. For availing this facility, you should download & fill the nomination form from link provided in the order book under Fixed Deposit section & send it to ICICI Securities within 7 days of making the application. Nomination form need to be sent at below mentioned address:

ICICI HFC FD Operations, ICICI Securities Limited, Shree sawan knowledge park, Ground floor, Plot no. D-507 T.T.C. Industrial area, MIDC Turbhe, Navi Mumbai 400706.

Fixed Deposit Receipt (FDR) would only be issued after receipt of the duly filled nomination form.

   

14. How can the deposits be redeemed?

The deposit receipt duly discharged with a revenue stamp of requisite value should be surrendered to ICICI HFC at least two weeks prior to the maturity date of FD. FDR to be dispatched along with the maturity form at below mentioned address:

ICICI HFC Central Operations Team,
ICICI Bank ,
2nd Floor,
Trans  Center,
Opposite Floral Deck Plaza,
MIDC, Andheri (E),
Seepz,
Mumbai

   

15. What is the mode of getting payment on redemption/interest?

The redemption/interest payment will be directly credited to your ICICI Bank Limited account.

   

16. Can I redeem my FD before the original term? If so, are there any conditions applicable to the same?

Yes, FD can be withdrawn before the original term of the FD. In accordance with the provisions of the Housing Finance Companies (NHB) Directions, 2001, on a request being made by a depositor, premature withdrawal of the deposit may be allowed subject to the following conditions:  

No deposit will be repaid within three months from the date of its acceptance.  

No interest shall be paid if the deposit is withdrawn within six months but after three months from the date of deposit.  

For premature withdrawal after six months but before one year from the date of its acceptance, the interest may be paid @ 3% lower than the minimum rate of interest offered by IHFC while accepting public deposits.  

For premature withdrawal after one year from the date of its acceptance, the interest may be paid @ 2% lower than the interest rate applicable for tenure for which deposit has run if the deposit had been originally accepted for such tenure.  

In case of death of the depositor, the deposit will be repaid to the joint depositor/ nominee/ legal heirs (as applicable) with interest at the contracted rate up to the date of repayment of such deposit.

   

17. How is the FD renewed?

Subject to the FD scheme being open, the deposit may be renewed on maturity by submitting a duly filled fresh FD Application Form within one month from the date of maturity. It is necessary that the fresh FD Application Form should be submitted along with the duly discharged old FD receipt with revenue stamp of requisite value. The renewal will be subject to the terms and conditions of the FD scheme as applicable on the maturity date of the old deposit.

   

18. Is FD transferable?

No, FD is non- transferable.

   

19. Can a loan be obtained from ICICI HFC against the security of the FD?

Yes, loan facility is available at the discretion of ICICI HFC, which can be availed only after three months from the date of deposits and up to 75% of the deposit amount subject to certain terms and conditions. Interest on such loans will be 2% above the deposit rate. Please note that this facility is available only to individuals (other than minors and NRIs) and HUFs.

   

20. How can a depositor change the address etc. during the term of deposit?

An application requesting to update the address etc. may be submitted to ICICI HFC Central Operations team along with the proof of such change, like new residence proof'. The account holders should sign the application.

   

21. What if one loses the FD Receipt.?

In the event of loss of the Fixed Deposit Receipt, ICICI HFC should be immediately informed about the loss of the instrument. ICICI HFC may issue a duplicate Fixed Deposit Receipt, subject to non encashment of the original instrument, upon receipt from the depositor of a 'letter of loss of instrument' and an indemnity in the prescribed form to its satisfaction and after compliance with such other formalities as may be required by the ICICI HFC.

   

22. If legal disputes arise, what is the resolution mechanism?

Disputes, if any, arising in connection with ICICI HFC's FDs, will be subject to jurisdiction of Courts at Mumbai.

   

23. Are public deposits of any HFC guaranteed by NHB?  

No. Though ICICI HFC is within its regulatory framework, NHB does not undertake any responsibility for the repayment of deposits/discharge of liabilities by ICICI HFC. The depositor is advised to satisfy himself about the financial position and all relevant aspects before placing his deposit with any HFC.

   
Tax Deducted at Source (TDS)
   

24. When do I become liable for TDS?

If the aggregate interest income that you are likely to earn for all your deposits is greater than Rs. 5,000/- in a financial year, you become liable for TDS, subject to submission of Form 15G (For entities other than Companies/Firms)/15H (For Senior Citizen who is of the age of 65 years or more) or a certificate for lower/nil deduction of TDS issued by Income Tax Authorities u/s 197 of the Income Tax Act, 1961.

   

25. When is TDS deducted?

TDS is deducted every time the Company pays or credit interest during the financial year. In addition, TDS is also deducted on interest accrued (but not yet paid) at the end of the financial year viz. 31st March.

   

26. Where should I submit form 15 G / 15 H ?

You should download applicable form 15 G / 15 H by clicking on the link provided in the order book under Fixed Deposit section & send it to ICICI HFC Central Operations team within 7 days of making the application. Form need to be sent at below mentioned address :

ICICI HFC Central Operations Team,
ICICI Bank , 2nd Floor,
Trans Trade Center,
Opposite Floral Deck Plaza,
MIDC, Andheri (E),
Seepz,
Mumbai.

   
Senior citizens
   

27. Who is considered Senior citizen?

Citizens above the age of 60 years are considered as senior citizens.

   

28. Do senior citizens get any extra benefit on the FDs?

Yes, they do get extra benefits in the form of special interest rates that may vary from scheme to scheme.

NOTE: This FAQ is only meant to clarify certain basic questions on Fixed Deposit scheme. The information given is included only for general purpose and the depositors should be aware that the relevant rules, regulations, or their interpretation might change. We strongly advise depositors to contact our Call Center/ICICI HFC branches/Registrar for any additional information/clarifications. Please read the terms & conditions, Financial statements & Declarations available on www.icicidirect.com before investing in ICICI HFC FD. ICICI Securities Ltd. acts as a referral agent to ICICI Home Finance Company Ltd. and the offer is brought to you by ICICI Home Finance Company Ltd subjective to fulfillment of eligibility criteria, terms and conditions etc.

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Research And Other Resources
   

What other resources will the site offer me to help in taking smarter online investment decisions?

Our site will offer you a comprehensive set of resources like online quotes, news, charts, financial databases, company reports, earnings estimates and a host of research based tools to help you make better decisions. We will also offer a comprehensive markets page where you can get to the latest update on markets, trends, news and events affecting the markets.

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Password
   

How do I get my Logon ID and PASSWORD for the first time?

If you have filled up the application forms for Investment account directly without registering on the site, We would dispatch your LOGIN-id and password by normal post / courier in a sealed envelope. You need to activate your account for Investment by visiting the Activate your account link on the Customer Service page.

   

How do I Change my password:

You can change your password anytime by accessing our Customer Service Section. In fact we strongly advise you to periodically change your password for added security. Your password must have minimum 8 characters and not more than 12 characters. The password will have to be alphanumeric, and preferably with one special character. As per NSE prescribed guidelines, you need to change your password every 15 days. On login after the 14th day from your previous change of password, you will be taken to the "Change Password" screen.

   

If I have forgotten my password or if my account gets locked, then what do I do?

If you have forgotten your password, you could place a request for a new password or unlock your account by visiting the Unlock account / Request for new password link on the Customer Service page.

   

If I am requesting for new password then how will I receive my password?

You will receive your password at your communication address which is updated with us within 6 working days. You can check the status of the password on Unlock account / Request for new password link available on the Customer Service page.

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Security
   

How secure are my transactions?

ICICIdirect brings you the highest standards of security, which are commercially available on the net. Millions of customers are dealing in investments on the net. We bring you the same level of security standards, which are used by leading international trading sites.

We use two level of securities on our web site : Secure Socket Layers (SSL) and 128 bit encryption technology to provide you the higher commercial available security standard on our web site. This is a worldwide standard of security adopted by all international online trading sites. SSL is a method of sending private documents through the internet by using a private key to secure messages. Data encryption methods are used to achieve data security.

   

How safe is my Bank Account?

Although your bank account is linked to the brokerage account, only you have access to it. ICICIdirect has access to it to the extent of the amount that you allocate exclusively for Investment.

   

How safe are my Logon Id and password?

Your Logon Id and Password are only known to you as these are stored in encrypted form with us. In fact, even the first time also you get your own Logon Id and Password that are known only to you.

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Access To Website
   

If I don't have access to internet will I be able to use this service?

Yes and No. You must have access to Internet, but it need not be from your residence or your office. You can walk into one of our ICICI Centers, where we shall be putting up terminals, and access our site on the Internet. You can also walk into any cyber café and access our website ICICIdirect.com for online investing. You may also call on our Customer Care numbers to order  through the facility called Call N Trade where our officers would place orders on your behalf after a thorough authentication.

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Transaction Statements
   

As an intermediary for distribution of mutual funds, ISEC enters into arrangements with various Asset Management Companies (AMC) for facilitating buying of mutual funds primarily through the website www.icicidirect.com. Pursuant to the arrangement, in compliance with SEBI Regulations, ISEC issues physical statements at the end of every month for mutual fund transactions entered by the clients in the immediately preceding month.  

In addition to the above, annual Mutual Fund statements are also issued to clients.  

Kindly note that the afore-mentioned details are as per the current company policies and are subject to change to comply with any future regulatory / company requirements.  

To place a request for statements, you could visit the Request for duplicate statement link on Customer Service page

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CALL N TRADE
   

Order effortlessly over the phone with the ICICIdirect.com CallNtrade® facility. You can place orders in , IPO, Mutual Funds etc. at your own convenience by calling at any of our below mentioned Customer Care numbers, and our well trained executives will take your orders and place them on your behalf after due verification.

This facility is especially useful for those of our customers who are on the move or prefer to  order over phone. Please Click here to obtain the Customer Care numbers.

   

What do I need to do to  orderthrough the CallNTrade® facility?

In order to be able to avail the facility, you need to ensure that:

1. You have a Investment  account with ICICIdirect.com
2. You have accepted the online terms and conditions displayed on the site
3.
a. You have the access code for your account
OR
b. You have your contact numbers updated in your Investment account

   

What is the procedure for placing orders through the facility?

You can call at any of the above-mentioned Customer Care numbers. On getting connected, you need to follow the instructions as mentioned below:

STEP I: Dial 1 for English or 2 for Hindi for opting the desired language of interaction
STEP 2: Dial 4 on the product menu for opting Online Trading
STEP 3: Dial 1 for opting the CallNTrade facility.
STEP 4: Dial the desired option for choosing the product/service in which you wish to  make an investment

For Quick access, you may dial 1,4,1 once you are connected and hear our welcome message and then choose the option in which you want to  make an investment.

On completing the above process, you will be connected to our Customer Care executive. On being connected, our Executive will request you to provide your Investment account number/User ID and Access code for accessing your account.
A Investment account number is unique account number allotted to every customer holding a Investment  account. You may quote your user id instead of your Investment  account number, in case you do not have your Investment account number handy. Access code is a numeric code (which is minimum 6 digits and maximum 8 digits long) and it is required to place orders through CallNTrade facility. You can generate/ change your access code by clicking on the link "Change Access Code" on the Customer Service page of the site ICICIdirect.com.
Our executive will be able to place orders on your behalf only if the combination of the Investment account number/User Id and the Access code as provided by you is authenticated as correct by the system.

   

What if I don't have my access code?

In case you do not have an "Access code", please call us from your registered contact number. Our Customer Care executive will ask you a few questions to establish your identity. On satisfactory verification, our executive will place orders on your behalf.

   

What if my contact details are not registered?

You may avail the CallNTrade facility by providing your access code along with your Investment Account Number / User Id. In case you do not have an access code, you may generate one online.

Alternatively, you may get your contact details updated in your Investment account. This would make using the CallNTrade facility simpler when you call the next time.

   

Are there any specific timings during which I can avail of the facility ?

You may avail of the facility anytime between 9AM to 7 PM - Monday to Saturday (except trading holidays).

   

What numbers can I call on?

Please Click here to obtain the Customer Care numbers.

   

What are the charges for CallNTrade facility?

The charges are as follows:

First 20 Calls per month - Free
>20 Calls - Rs. 25 per call

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Online Password Re-Generation
   

What is Online Password Re-Generation?

Online Password Re-Generation facility provides you with an option to re-generate your password online and have access to your Investment account through www.icicidirect.com, in case you forget your password. In order to avail this facility, you would be required to register yourself through www.icicidirect.com.(please replace with appropriate URL)

   

Who can avail Online Password Re-Generation facility?

All online customers can avail Online Password Re-Generation facility through www.icicidirect.com.

   

Can I avail the Online Password Re-Generation facility without being registered for this facility?

No. To avail this facility you will have to register with ICICIdirect.com. The registration process is a one time activity.

   

How can I register for Online Password Re-Generation facility?

You can login to your ICICIdirect.com account with your existing user id and password and visit Customer Service Page > "PASSWORD RE-GENERATION" link, then fill in your Email address and Mobile number and click on "Register" button. You will be successfully registered if your Date of Birth and valid PAN number are available in the system. On successful registration, the Grid will be sent to your Email address registered with us.

   

What is a Grid? Why is a grid required?

A Grid is a system generated encrypted pdf file containing series of alphabets with corresponding numeric values arranged in a tabular form. The Grid will be required for your authentication and online re-generation of password.

   

How can I generate a Grid? How will I receive the Grid for generation of online password?

On successful registration, the Grid will be automatically sent to you at your registered email address.

   

What happens if wrong email address and or wrong mobile number is entered at the time of generating Grid?

System will not allow you to generate the Grid if the email address and/or mobile number entered by you is incorrect or does not match with our records.

   

Where can I view my registered mobile number and email address? Can the mobile number and email address be changed online?

Yes. You can login into your account and visit the Customer Service Page > General Profile to view or change your mobile number (valid country code is a must) and email address.

   

When does the online change of email address and mobile number get updated at ICICIdirect?

The online change in email address and/or mobile number gets updated immediately in the ICICIdirect systems.

   

What is the validity of the Grid received by email?

The Grid i.e. the pdf file will expire in 90 days and a new set of grid values would be sent to your registered email address after 85 days of generation of the earlier Grid. You are required to use the new set of grid values for online password generation after 90 days.

   

Where can I view the validity period of the Grid?

The validity period of the Grid is mentioned on the pdf for your ready reference as the "from and to date" for which the Grid would remain valid.

   

Can I use the Grid more than once for online password generation?

Yes. You can use the Grid more than once for online password generation by entering the required values from the grid whenever requested for the same.

   

Can I generate the Grid more than once?

Yes. You can re-generate the Grid again in case you do not have the earlier Grid available with you.. But the grid cannot be generated more than once on the same day.

   

How do I re-generate the Grid?

Once you are registered you can at any point of time re-generate the Grid by visiting the Customer Service Page > "PASSWORD RE-GENERATION" link > Re-generate Grid.

   

Can the grid be used after the validity period?

No. The Grid values should not be used after the validity period since the same expires for authentication. The new grid values should be used.

   

What happens if the wrong or expired Grid values are entered?

Your authentication would fail if wrong or expired Grid values are entered. In case incorrect values are entered 3 consecutive times, you will be automatically disabled from availing the online password re-generation facility after the third attempt.

   

How do I generate my password online after receipt of the Grid?

Once you have received the Grid you can generate your password online at any time by following the below steps:

  Visit the Login Page > select "Trouble Logging In" option

Fill in the below details:

User Id or Form No.
Bank Account No.
Date of Birth and
PAN
Select "Online Password" link
On selecting the above link you will be required to enter 4 values from the Grid
Click 'Get URN'
URN will be sent you on SMS
On receipt of URN repeat steps 1 - 3

Enter the below fields:

4 values from Grid
URN
New Password
Confirm Password

   

What is URN?

URN is a "Unique Reference Number" required to generate your password online. It is a 8 digit number which would be asked by the system while you re-generate your password online.

   

Why is URN required?

URN is required for authentication purpose for your online password re-generation.

   

How is URN received?

URN will be sent to your registered mobile number. Kindly note that your mobile number registered with us should have a valid country code.

   

What is the validity of the URN?

The URN is valid for 24 hours from the time of placing the request on site. To re-generate your password after 24 hours you need to re-generate a fresh URN.

   

How to re-generate URN?

You can re-generate URN by following the below steps:

  Visit the Login Page > select "Trouble Logging In" option
Fill in the below details:

User Id or Form No.
Bank Account No.
Date of Birth and
PAN
Select "Online Password" link
On selecting the above link you will be required to enter 4 values from the Grid
Click on 'Re-generate URN' option

   

What happens if incorrect or expired URN is entered at the time of online password re-generation?

The system authentication would fail if the wrong or expired URN values are entered by you. In case incorrect values are entered 3 consecutive times, you will be automatically disabled from availing the online password re-generation facility after the third attempt.

   

How can I get enabled for the online password re-generation facility if I have been disabled?

In case you get disabled from the Online Password Re-Generation facility, you may follow below steps:

You can request for issue of new password through the normal process . You can either:

Call up the Call Center and request for new password
OR
Visit the Customer Service Page > Unlock Investment account or Issue new password.
The PIN mailer containing your new password will be sent to your registered address.
On successfully changing your password with the above PIN mailer, you would be be automatically activated again for the Online Password Re-generation facility.

   

Can I De-Register from the Online Password Re-Generation facility?

No. You can not De-register from the Online Password Re-Generation facility.

   

How can I get a password if I have not registered for Online Password Re-Generation facility?

If you have not registered for Online Password Re-Generation facility and you forget your password, you will have to go through the normal process of requesting issue of new password. You can either call up the Call Center or visit the Customer Service Page > Unlock Investment account or Issue new password. The PIN mailer containing your new password will be sent to your registered address.

   

Can I Register or generate the Online Password through Call Center or Call N Trade?

No. Registration for Online Password Re-Generation facility can be availed only by you through www.icicidirect.com.To register click here.

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Mutual Fund Help

Place Order

Please select the Mutual Fund

Please also select the Transaction Type out of the followings:

Purchase : For investing in the fund.
Redemption : To redeem your existing holding.
Switch : To switch your investment from one scheme to another of the same Mutual Fund.
Systemic Investment Plan : To create your own plan for regular investment periodically. Also known as SIP.
Systemic Withdrawal Plan : To create your own plan for regular redemption of your holdings periodically. Also known as SWP.
You can view the details of respective Mutual Fund by clicking on the Mutual Fund's name.

   

Purchase

You can select the Scheme wherein you want to place your Purchase (Investment) order.
Select the scheme you want to invest in by clicking on the link "GO". It would take you to "Place Purchase Request" Page.
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can purchase up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount, which can be invested. Minimum investment amount may be different for initial investment in a scheme and subsequent investment therein. The applicable minimum amount of investment is displayed here.
You are also displayed the information with regard to you're the existing holdings in the scheme and its valuation at the latest NAV.

   

Place Purchase Request

You are displayed all the relevant information for purchase here. You need to enter the amount to be invested.

Dividend Re-Investment: If the Scheme offers the dividend re-investment option (i.e. automatic re-investment of dividends as and when paid out), you are provided with the option to select Dividend Re-Investment or not. Know more about Shut down period.

   

Confirm Your Purchase Request

This is final confirmation page for your purchase Request.
In case of any mistake/rethought, you have the option to modify/cancel the request.
Once you have clicked on the final confirmation, the transaction would be reflected in the Order Book but the same can not be modified/cancelled.
On confirmation, you would be allotted a transaction number, which would also be reflected in the order book, and an e-mail confirmation would be sent to you.
You are requested to kindly go through the Terms and Conditions.

   

Redemption

You can select the Scheme wherein you want to place your Redemption order/Request.
Select the scheme you want to invest in by clicking on the link "GO". It would take you to "Place Redemption Request" Page.
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can place your redemption request up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount which can be redeemed.
You are also displayed the information with regard to you're the existing holdings in the scheme and its valuation at the latest NAV.

   

Place Redemption Request

You are displayed all the relevant information for Redemption here. You need to enter the amount to be invested.
Exit Load : You can also view the details of exit load applicable on the transaction by clicking on link "Exit Load".

   

Dividend Re-Investment : It indicates the status whether you have opted for dividend re-investment or not. Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can place your redemption request up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day). Minimum Amount indicates the minimum amount which can be redeemed. Minimum Units indicates the minimum number of units which can be redeemed.

Some / All Units : You have the option to specify the redemption of specified number of units or to redeem all units at a time held under the Scheme. Know more about Shut down period.

   

Confirm Your Redemption Request

This is final confirmation page for your Redemption Request.
In case of any mistake/rethought, you have the option to modify/cancel the request.
Once you have clicked on the final confirmation, the transaction would be reflected in the Order Book but the same can not be modified/cancelled.
On confirmation, you would be allotted a transaction number which would also be reflected in the order book and an e-mail confirmation would be sent to you.
You are requested to kindly go through the Terms and Conditions.

   

Switch

You can select the Scheme from where you want to place your Switch order/Request by clicking on "GO"
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can place your switch request up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount which can be redeemed/switched.
You are also displayed the information with regard to you're the existing holdings in the scheme and its valuation at the latest NAV.

   

Switch From / Switch To

A. Switch From
You are displayed all the relevant information for Switch here. You need to enter the amount to be switched.
Exit Load : You can also view the details of exit load applicable on the transaction by clicking on link "Exit Load".
Dividend Re-Investment : It indicates the status whether you have opted for dividend re-investment or not.
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can place your switch request up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount which can be switched.
Minimum Units indicates the minimum number of units which can be switched.
Some / All Units : You have the option to specify switch of specified number of units or to switch all units at a time held under the Scheme.
Know more about Shut down period.

B. Switch To
You have to select the scheme where you want to switch the above portfolio.

   

Confirm Your Switch Request

This is final confirmation page for your Switch Request.
In case of any mistake/rethought, you have the option to modify/cancel the request.
Once you have clicked on the final confirmation, the transaction would be reflected in the Order Book but the same can not be modified/cancelled.
On confirmation, you would be allotted two transaction numbers (one for switch out and one for switch in) which would also be reflected in the order book and an e-mail confirmation would be sent to you.
You are requested to kindly go through the Terms and Conditions.

   

Systemic Investment Plans (SIP)

You can select the Scheme wherein you want to create your SIP.
Select the scheme you want to invest in by clicking on the link "GO". It would take you to "Create SIP " Page.
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can purchase up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount which can be invested. Minimum investment amount may be different for initial investment in a scheme and subsequent investment therein. The applicable minimum amount of investment is displayed here.
You are also displayed the information with regard to you're the existing holdings in the scheme and its valuation at the latest NAV.
You can create SIP only if you have some existing holding in the Scheme.

   

Create Your SIP

You are displayed all the relevant information for purchase here. You need to enter the details required to create your SIP.
Dividend Re-Investment : It indicates the status whether you have opted for dividend re-investment or not.
If the SIP date falls on 31st and the month is only of 30 days, it would be taken up for processing on next business day.
Know more about Shut down period. You may keep the same in mind while creating your SIP.

   

Confirm Your SIP Request

This is final confirmation page for your SIP Request.
In case of any mistake/rethought, you have the option to modify/cancel the request.
Once you have clicked on the final confirmation, the transaction would be reflected on the Systemic Plans page and the same can be modified/cancelled at any time.
You are requested to kindly go through the Terms and Conditions.

   

Systemic Withdrawal Plan (SWP)

You can select the Scheme wherein you want to place your SWP.
Select the scheme you want to create SWP in by clicking on the link "GO". It would take you to "Create SWP Request" Page.
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can place your redemption request up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount which can be redeemed.
You are also displayed the information with regard to you're the existing holdings in the scheme and its valuation at the latest NAV.

   

Create SWP Request

You are displayed all the relevant information for SWP here. You need to enter the amount/units to be redeemed, frequency, periodicity and start date.
Exit Load : You can also view the details of exit load specified by the Mutual Fund by clicking on link "Exit Load".
Dividend Re-Investment : It indicates the status whether you have opted for dividend re-investment or not.
Cut-off time indicates the time line within which any transaction request received would be eligible for the same business day NAV. Any transaction put after the cut-off time would be taken at NAV for the next business day. It implies that in order to get the NAV of the same day, you can place your redemption request up to the time displayed beside the scheme, after which you will get the next day's NAV. (If the next day is a holiday, then the NAV of the next working day).
Minimum Amount indicates the minimum amount which can be redeemed.
Minimum Units indicates the minimum number of units which can be redeemed.
Know more about Shut down period.

   

Confirm Your SWP Request

This is final confirmation page for your SWP Request.
In case of any mistake/rethought, you have the option to modify/cancel the request.
Once you have clicked on the final confirmation, the transaction would be reflected on the Systemic Plans page and the same can be modified/cancelled at any time.
You are requested to kindly go through the Terms and Conditions.

   

Order Book

Transaction ID is a unique transaction number assigned by our system to every transaction recorded with us.

   

Transaction Status

Ordered : Your transaction has been recorded with us to be processed further. When the transaction is
Process / Under Process : Your transaction acceptance/rejection is awaited from the concerned Mutual Fund.
Executed :Transaction has been accepted by the Mutual Fund. The price, no. of units allotted/redeemed and transaction amount, as the case may be shall be updated in the order book at the time of updating the transaction as Executed.
Rejected : The transaction has been rejected by the Mutual Fund.
Every Switch request shall have two underlying transactions in the order book, one for switch out and another for switch in.

   

Unit Holdings

You can view your holdings and its valuation at latest NAV.
To view the underlying transactions which has constituted the holdings, click on the link "view".

   

Systematic Plans

You can select Systemic Investment Plan (SIP) and Systemic Withdrawal Plan (SWP) and view the plans created by you.

   

Systematic Investment Plan (SIP) - View

It displays the details of SIP created by you.
You have the option to modify the date/amount of the next SIP installment.
You can cancel SIP created.

   

Systematic Withdrawal Plan (SWP) - View

It displays the details of SWP created by you.
You have the option to modify the date/amount of the next SWP installment.
You can cancel SWP created.

   

Modify Dividend Option

You can register your request online for change in dividend pay-out option from normal pay-out to dividend automatic re-investment or vice versa.
Your request once confirmed by the Mutual Fund shall be shown in the Unit holdings page where the dividend option shall be updated accordingly.

   

Modify Allocation

The user can further allocate or reduce allocation of funds out of his available clear bank balance exclusively for investment in Mutual Funds/FD/Insurance.
Amount once allocated does not form part of withdrawable balance of the user. The limits are enhanced or reduced to the extent additional amount is allocated or reduced from allocation.
Please note that on bank holidays and on weekly off days this facility is not available.
Block for Allocation is a block placed by you using the 'Modify Allocations' screen on the  Buy & Sell Home Page wherein you can allocate amount from your clear balance for investment .
You can increase the Block for Allocation amount and can also reduce the Block for Allocation provided the same is not used for  investment.
Example:-
Let us consider you want to invest Rs.25,000 and your bank balance is Rs.1,00,000.You would need to allocate Rs.25,000 from Modify allocation page in your investment account. Post allocation the scenario is illustrated below:
Total Balance Rs.10000.00
Net Withdrawal Balance Rs.75000.00
Block for Allocation Rs.25000.00

   

Limits

Indicates the current limits available for mutual fund purchase transactions.

   

Transfer In :

Transfer In is a process where the customer can bring his offline folio (folio held with some other broker or directly with the AMC) to ICICI Securities. For this he needs to have an ICICIdirect A/c.

  • Criteria of offline folio for Transfer In:
    • The offline folios should be in the name of the Account holder of the ICICIdirect online(please replace with appropriate URL) Investment  Account.
    • The offline folio should be in the single holding pattern. If the customer has joint holding in offline folio, it will be rejected as in ICICIdirect, only sole holding pattern is allowed for mutual funds.
    • If the customer has an SIP in the offline folio, it should be cancelled, before placing a transfer in request. This is because, the offline SIP transactions done after transfer in will not be reflected on ICICIdirect. Once transfer in is done, the customer can start an SIP online.
  • Documents Required for transfer In:
    • Transfer In request Letter, which can be downloaded from the Icicidirect.com site, after placing the transfer in order.
    • No Objection Certificate of the previous broker, stating that they have no objection if the customer transfers his units to ICICI Securities. This NOC should be on the Letter Head of the previous distributor. It should be signed and stamped by the broker from whom the offline units were purchased. If there is more than one broker for the offline folio, the customer needs to obtain the NOC from each of them, seperately for all AMC's.
    • Self attested PAN copies for each Transfer-in request.
  • How to place transfer In orders?
    • Login to ICICIdirect A/c and go to Mutual Funds page
    • Click on Purchase
    • In front of the AMC for which you want to place a TI order, click on the link "Transfer In"
    • In the page that opens, Click on the "Place TI order" link
    • In the form that opens, select the offline scheme name from the drop down and the folio number and click on "Submit"
    • Once you click on submit, you will be given an option to print this application. You need to take a print of this
    • Application, sign it and send it along with NOC and PAN copy to the following address:
      Attn: Mutual Funds Operations Team
      ICICI Securities Ltd
      Shree Sawan Knowledge Park,
      Ground Floor, Plot No. D-507, T.T.C Ind Area,
      M.I.D.C, Turbhe, Opp. Juinagar Railway Station,
      Navi Mumbai - 400705
  • How does the Transfer In request take place?
    • Once the customer places a Transfer In request online, the status of the order will be ' Documents Awaited' in TI Book till the customer sends the documents to us.
    • On receipt of the documents for Transfer in, they are verified (signature verification,NOC and PAN card copies provided or not)
    • Post verification, the documents are sent to the AMC/Registrar for further processing and the status of the order is changed to "Sent to Registrar"
    • On confirmation from the AMC/Registrar, the number of units transferred in is updated on the site and the status of the order then becomes" Executed . The customer can then view the units online in his unit holdings.
    • The Turn Around Time (TAT) for the Transfer In process is 10 working days from the date of receipt of documents at ICICI Securities. ICICI Securities Ltd will process the request on best effort basis within a reasonable time and I-Sec cannot be held responsible for any loss of documents or delay in processing of the request.

   

Transfer Out :

Transfer Out is a procedure of change in broker code where an ICICIdirect customer wants to convert his mutual fund units offline and directly deal with the AMC.

  • Criteria for Transfer Out:
    • The customer cannot transfer out the unit holdings in joint name as only single holder is allowed in ICICIdirect
    • The customer should cancel the ongoing SIP before he places a transfer out request for these folios.
  • Documents Required for transfer Out:
    • Please click here to download the transfer out format. You need to sign this application and fill the scheme details, folio number, your correspondence address and bank name and Bank A/c number which you want to keep linked to that folio for future transactions(in offline mode).
    • If the transfer out request is for HDFC, ICICI PRUDENTIAL or HSBC schemes, you need to fill an additional form. Please click on the relevant links to download the format
    • Self attested PAN copies for each Transfer-out request.
  • You need to send the above mentioned documents at the following address:
    Attn: Mutual Funds Operations Team
    Transfer In/ Transfer Out Unit
    ICICI Securities Ltd
    Shree Sawan Knowledge Park,
    Ground Floor, Plot No. D-507, T.T.C Ind Area,
    M.I.D.C, Turbhe, Opp. Juinagar Railway Station,
    Navi Mumbai - 400705
  • On receipt of the Transfer Out request letter from the customer, we shall verify the customer details, address, the Bank mandate details and the signature with that in the records of ICICI Securities.
    • ICICI Securities will then issue an NOC, duly signed by the Authorized Signatory.
    • The customer's request letter (in original), along with the NOC and PAN copy is then sent to the respective AMC/Registrar for further processing.
    • Once transfer out is done, the units holdings of the customer will become nil, and the details of the transfer out will be reflected in customer's Order book. The Turn Around Time (TAT) for the Transfer In process is 10 working days from the date the Registrar /AMC receives the request. ICICI Securities Ltd will process the request on best effort basis within a reasonable time and I-Sec cannot be held responsible for any loss of documents or delay in processing of the request.

   

How will I get confirmation that transfer out is done?

Once transfer out is done, units will no longer reflect in your unit holdings. Also, transfer out order will reflect as executed in your MF order book. Please note that no physical statement/certificate will be sent by us confirming the transfer out. You need to contact the AMC for any statements regarding that folio in future.
Please note that once transfer out is done, any future purchase orders placed by you in that particular AMC through ICICIdirect are bound to be rejected.

   
Internal Transfer from one Match A/c to another:
   

Can I transfer My Mutual Fund Unit holdings from one ICICIdirect (please replace with appropriate URL))A/c to another?

Yes you can transfer your mutual fund unit holdings from one Match A/c (source A/c) to another(Target A/c), provided both the Match Accounts are in the same name. Please ensure that you close one of the Accounts after the transfer is done because as per SEBI guidelines, a customer cannot maintain more than one Investment A/c with a broker.
Such Internal transfer can be of following 3 types:

  • One Resident Match A/c to another Resident Match A/c
  • NRI ICICIdirect A/c to Resident ICICIdirect A/c
  • Resident ICICIdirect A/c to NRI ICICIdirect A/c

   

How do I transfer my units from one A/c to another?

  • You need to submit specific formats as mentioned in the next step
  • You need to place transfer in orders in the target Match A/c, for all the schemes that you want to transfer in.
  • You need to cancel any ongoing Systematic Investment plan (SIP) in the source ICICIdirect A/c before giving any internal transfer request. In case an internal transfer request is given with ongoing SIP's in the source Match A/c, the same will be cancelled. You may in future start a new SIP in the target ICICIdirect A/c.

   

What are the Documents required?

Click on the links to download the specified formats to be filled and sent by you. Also refer the additional documents required to be filled


You need to send the above mentioned documents at the following address:
Attn: Mutual Funds Operations Team
ICICI Securities Ltd
Shree Sawan Knowledge Park,
Ground Floor, Plot No. D-507, T.T.C Ind Area,
M.I.D.C, Turbhe, Opp. Juinagar Railway Station,
Navi Mumbai - 400705
The TAT for the same is 15 days from the receipt of documents at the corporate office. ICICI Securities Ltd will process the request on best effort basis within a reasonable time and I-Sec cannot be held responsible for any loss of documents or delay in processing of the request.

   

Can I make a nomination for the mutual fund units purchased through www.icicidirect.com?

Yes. The website www.icicidirect.com. provides you a facility to make nomination(s) for your Mutual Fund units purchased online.

   

Will nomination(s) made in my linked demat/ bank account(s) be automatically updated for the mutual fund units purchased online?

No. Nomination details of your linked bank or demat account are not considered for your online mutual fund purchases. Hence, you would be required to make a separate nomination request for your mutual fund folios.

   

What is the effect of making a nomination?

Nomination causes all rights and/or amount(s) payable in respect of your Mutual Fund Holdings to vest in and be transferred to your nominee upon your death. If your legal heir is different from your nominee, your legal heir cannot dispute this action as transfer by the respective AMC(s) in favour of a Nominee acts as valid discharge by the AMC(s) against the legal heir of the deceased holder.

   

Who can make a nomination?

Investors in the Category of "Individuals" are permitted to make a nomination for their mutual fund units. Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family and a holder of Power of Attorney are not allowed to nominate.

   

Whom can I nominate?

You can nominate any individual as your nominee. However, you cannot nominate the following as your nominee with regard to your mutual fund units:
1.    A Trust
2.    A Society
3.    A Body Corporate
4.    A Partnership Firm
5.    Karta of a Hindu Undivided Family
6.    A Power of Attorney Holder

   

Can I nominate a Non Resident Indian as my nominee?

Yes. A non-resident Indian can be a nominee subject to the exchange control regulations in force, from time to time.

   

Can I nominate a minor as my nominee?

Yes. You are permitted to nominate a minor. However, if you nominate a minor, do provide the name and address of the minor's guardian in the nomination request.

   

Can I nominate more than one person in my Mutual Fund Folios ?

You can nominate only one person per mutual fund folio held by you.
If you hold more than 1 folio, you can nominate different individuals for each folio but multiple nominees under the same folio is not permitted.

   

Where can I view the details of my mutual fund folios purchased through www.icicidirect.com ?

To view the details of your mutual fund folios purchased online visit the Unit Holdings page of the Mutual Fund section of your ICICIDirect  account.

   

Will my existing mutual fund nomination automatically get updated for all future online Mutual Fund purchases also?

No. Nomination made in your existing mutual fund folios will not be automatically updated for new folios created for fresh mutual fund purchases made by you. For all new folios, you will be required to make a separate nomination request.

   

Can I change my nominee?

Yes. You can change your nomination at any time before you redeem your mutual fund units. On making a change request, your existing nomination details will be substituted with the new details as provided by you.

   

Can I cancel a nomination made by me?

Yes. You can cancel your existing nomination at any time before you redeem your mutual fund units.

   

How do I place a request for Nomination or Change in nomination / Cancellation of my existing nomination through www.icicidirect.com?

To make a Nomination request or Cancel / Change an earlier Nomination, you would be required to fill the prescribed Form (click to download the form).
Please fill in all the relevant details and send the duly signed form to the following address:
Attn: Mutual Funds Operations Team
ICICI Securities Limited
Shree Sawan Knowledge Park,
Ground Floor, Plot No. D-507, T.T.C Ind Area,
M.I.D.C, Turbhe, Opp. Juinagar Railway Station,
Navi Mumbai - 400705
NOTE: Your nomination/ change/ cancellation request will be registered only for those folio numbers details of which are mentioned in the Request form.

   

How much time will the process of nomination/ change of nomination/ cancellation of nomination take ?

ICICI Securities Limited shall endeavour to process your request on best effort basis within a reasonable time (7 days from the date of receipt of the duly filled forms at our corporate office).
However, please note that ICICI Securities Limited cannot be held responsible for any delay in processing of your request or loss of documents for reasons beyond the control of ICICI Securities Limited.

   

How will I know about the status of my nomination related requests?

The status of your request will be updated by ICICI Securities Limited in the "My messages" section of your ICICIDirect(please replace with appropriate URL) Investment  account.
In case your request is rejected, the reason(s) for such rejection will also be updated.

   

I have purchased mutual fund units through www.icicidirect.com. Can I send my nomination request directly to the respective Asset Management Company (AMC) of the mutual fund(s) ?

No. AMC(s) do not accept any direct/ offline request for nomination or other transactions in mutual fund folios that are purchased online. Hence you will have to route all your transactions including nomination related requests through www.icicidirect.com.

   

Transmission Procedure
Documents required in case of death of the single holder without nominee are mentioned below :
Copy of Legal Heir Certificate (duly attested). Tahsildar or Revenue Officer should issue this legal heir certificate OR Succession Certificate OR Court order/ Probate duly attested by a Notary.
No Objection Letter from other legal heirs (duly attested)
Letter from the nominee
Copy of Death Certificate (duly attested)
Signature of the claimant (who is requesting for redemption),duly attested by the banker along with the bank details
Indemnity on Rs.20 stamp paper

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eLocker
   

Explain the concept of eLocker Document Management Services?

We are generating, storing and accessing more information than ever before and it becomes increasingly difficult to manage this explosion in document content. Examples of critical documents:

  • Personal will and legal papers
  • Banking documents like statements, checks, etc.
  • Investment documents like National Saving Certificate (NSC), Kisan Vikas Patra (KVP), Government of India (GoI) bonds
  • Insurance documents
  • Property documents
  • Personal ID, voter card, ration card, PAN card, driving license, etc
  • Health records
  • Personal credentials, certificates
  • Photographs and memoirs


When paper documents are stored in large volumes, retrieving them becomes a problem unless there is a proper system in place for managing this. Paper documents are also susceptible to:
  • Locational access - Papers stored in your house trays, closets or bank lockers are susceptible to locational access. In case of frequent traveling requirements for today's globe-trotting individuals, it is necessary that all critical documents are available with them during the tours, enabling them to access and use these papers whenever and wherever as required
  • Fire hazards - Paper documents are vulnerable to fire hazards, resulting in unnecessary anxiety and stress during the process of making duplicates
  • Theft - Theft and other untoward incidents could happen anywhere and could lead to the loss of documents. Protection from theft is a vital component that needs to be addressed to ensure a risk-free life for individuals


Your eLocker effectively supplements your physical lockers and paper storages to:
  • Ensure anywhere, anytime access
  • Ensure continuity, longevity of documents
  • Eliminate unproductive work
  • Reduce duplication activities

   

Why should I subscribe to eLocker services?

eLocker or electronic locker services ensure that you securely store, manage and access your documents online. It enables you to keep your critical documents safe. Now you can categorize your documents in electronic cabinets and get them in seconds to counter the common problems encountered when trying to retrieve information - like forgetting document names or the storage medium / place where the document is stored. The services enable you to free yourself from the risks associated with managing paper documents and devote your time to more productive activities.

   

How soon can I get eLocker services working for me?

All you need to do is click on the eLocker link, view the user demo, confirm on the subscription and you're ready to start!

   

How much will it cost me?

ICICIdirect.com offers this service to you at no extra cost. It is a part of the ICICIdirect investment account.

   

Are eLocker services easy to use?

eLocker services are extremely user-friendly, with a simple, intuitive interface. There is no need for any specialized skill or personnel. Anyyone can easily learn to use it by viewing the eLocker Demo available from the ICICIdirect.com website.

   

How do I log in to eLocker?

eLocker link will be displayed on the Customer Services page of the ICICIdirect.com website. If you are clicking on the link for the first time, the eLocker user demo shall pop up to guide you on the usage and functionalities of the Locker, and will finally give you the option to activate. Once you have accepted the service, you can log in and avail your electronic locker facility.

   

How do I categorize my documents in the electronic locker?

You can create folders and sub folders just like you do in your computer. You can create sub-folders and and categorize similar documents within 'dockets' in such sub-folders.
You can easily move, delete and also rename your documents as required for easy recall.

   

How do I upload documents to the electronic lockers?

There are various easy options to upload your documents:
1.Electronic files like Word / PDF / Excel files can be directly uploaded to the folders in the form of attachments.
2.Alternately you can scan & upload your physical paper documents into your eLocker.
You just need to have an internet connection to avail the service

   

How do I search for the files that I have stored?

Searching is simple. Just type in the document description and get the required document in seconds. If you forget the description then the advanced search feature shall allow you to find your document based on a variety of parameters like your document creation, access, modification dates and also on the document type, size etc. Our powerful, yet simple retrieval features allow you to get easy access to these documents, at the click of a mouse.

   

How do I download documents from the eLocker?

Just log in to your electronic locker, find your document and click download to save the document in your computer.

   

How do you ensure availability of data?

Our comprehensive back-up mechanisms ensure that your data is available to you 24x7.

   

How do I ensure that my data is secure and its integrity is not compromised?

Your data is stored in secure databases and not file folders. Any user who wants to access this data has to log into the system with the correct login name and password.

   

Does the online nature of eLocker make my data susceptible to viruses, etc.?

eLocker services have a very effective and strong virus scan mechanism that is constantly updated. In addition, your documents are sent to you in an encrypted format, which means that you can easily check which documents have actually come from the e Locker server.

   

How can my documents be recovered in case of destruction from fires, floods or natural disasters?

Since the documents are stored in an electronic format on our server, your document content remains intact even if your physical documents get partially or completely destroyed due to any unforeseen calamity.

   

Can I access my documents from various locations?

Yes, eLocker documents are completely web-based, and can be accessed from any Internet-enabled computer.

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