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7.1.a What is the minimum amount of investment in Mutual Fund.
Resolution:
- Minimum amount of investment varies from scheme to scheme.
- You can view the minimum investment amount once you login to ICICI Direct Account.
- Click on ' Purchase '> select the AMC name > Fund category as All > Fund
Sub Category as All. Click on Go.
- The initial minimum amount states the minimum amount that is required for investment.
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7.1.b How to place a purchase Order?
Resolution:
- Login to your ICICI Direct Account with your User ID and Password.
- Go to Mutual Fund Section and allocate Funds.
- Click on 'Modify Allocation' Link.
- Enter the amount under ' Mutual Fund, IPO, Tax ' Section
- Click on Submit
- Click on ' Purchase '> select the AMC > Fund category > Fund Sub Category
. Click on Go.
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7.1.b How to place a purchase Order?
Resolution:
- Click on Purchase against the Scheme name to invest.
- Proceed for confirmation.
- Once order placed cannot be cancelled.
- You can also view the Demo
available on our site of ICICI Direct
- Order would get executed in T ( Transaction ) +1 Day
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7.1.c I have invested in Dividend Re- Investment Scheme. How do I check if the same
has been executed.
Resolution:
You can check the Order Book. The order would reflect as ' DR' ( Dividend Re- investment
).
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7.1.d Order has been executed at wrong NAV.
Resolution:
- NAV would be applicable depending when the order has been placed.
- If the order has been placed before cut off time NAV would be applicable for the
same day.
- If the order has been placed after the cut off time NAV would be applicable of next
day.
Eg. Cut off time 13:00 hrs. Order placed on 15th July 2009.
Order placed before 13:00 hrs NAV
would be of 15th July
Order placed after 13:00 hrs NAV
would be of 16th July.
- You can verify the NAV on www.amfiindia.com
- Visit www.amfiindia.com>
Investor Zone> NAV History
- Select the Mutual Fund, scheme and date range.
- If you have purchased a fund you need to look at the NAV of Sell on AMFI.
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7.1.e Can I add Joint holders for investing in Mutual Fund?
Resolution:
You can add joint holders while investing in Mutual Fund. For
adding the Joint holders, you will have to complete the under mentioned
documents:
- Request Letter for availing Joint Holding facility needs to be submitted.
- Authorisation Letter to be submitted where all the proposed Joint Holders has signed.
To download forms Please click here
- Submitting of the MF KYC forms along with the KYC documents for each Joint Holders.
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7.2.a How to place a redemption order.
Resolution:
- Login to your ICICI Direct Account with your User ID and Password.
- Go to Mutual Fund Section.
- Click on ' Unit Holdings ' > Redeem
- Proceed for confirmation.
- Once order placed cannot be cancelled.
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7.2.a How to place a redemption order.
- You can also view the Demo available on our site of ICICI
Direct.
- Schemes which are processed on monthly basis.
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7.2.b When will I receive funds in my account on redeeming the mutual funds.
Resolution :
- Redemption amount would be credited on T+1 ( where T is the NAV date ) day if its
a Liquid Fund.
- If its an Equity Fund, redemption amount would be credited on T+3 working days.
- There are few schemes for which the credit would be processed on
T+5 or T+7 basis.
- Few
schemes provide on line for redemption however AMC do not give Direct Facility.
- Once the order is executed, you can click on the link ' Executed ' in order book
and can check the date of credit of the redemption amount.
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Schemes which are processed on monthly basis.
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7.2.c Order has been executed at wrong NAV
Resolution :
- NAV would be applicable depending when the order has been placed.
- If the order has been placed before cut off time NAV would be applicable of the
same day.
- If the order has been placed after the cut off time NAV would be applicable of next
day.
Eg. Cut off time 13:00 hrs. Order placed on 15th July 2009.
Order placed before
13:00 hrs NAV would be of 15th July.
Order placed after
13:00 hrs NAV would be of 16th July
- You can verify the NAV on www.amfiindia.com
- Visit www.amfiindia.com>
Investor Zone> NAV history
- Select the Mutual Fund, scheme and date range.
- If you have sold a fund you need to look at the NAV of purchase on AMFI.
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7.2.d Incorrect amount has been credited, though order executed at correct NAV.
Resolution :
- If any exit load is applicable, amount would be credited after deducting the exit
load.
- You can check if any exit load applicable while placing the redemption order.
- STT is also charged ******
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7.2.e Can I Switch Out from one Fund and Switch In to another fund.
Resolution:
- You cannot Switch Out from one fund and Switch In to another.
- Switch schemes should have same folio's.
- However you can Switch Out from one scheme and switch In to another Scheme under
the same fund.
- The fund may levy a switching fee.
- Login to your ICICI Direct Account with your User ID and Password. Go to Mutual
Fund Section.
- Click on 'Unit Holdings' > Switch
- You can select the scheme from which you wish to Switch In.
- Proceed for confirmation.
- Once order placed cannot be cancelled.
- You can also view the Demo
available on our site of ICICI Direct
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7.2.e Can I Switch Out from one Fund and Switch In to another fund.
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7.3.a Can we place a SIP order even if I don't hold that fund / scheme.
Resolution :
Yes you can. You need not make a purchase application in the scheme before you start
a SIP.
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7.3.b Do I need to allocate funds in order to execute the SIP.
Resolution :
- The SIP amount would be triggered from your Bank Account.
- You need to keep sufficient amount in your Bank account and need not allocate the
funds.
- If you have allocated the funds and there is no sufficient amount in your Bank account
the SIP order would get rejected.
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7.3.c Where do I check the due date of next SIP.
Resolution :
- You can log in to your ICICI Direct Account with your User ID and password.
- Click on the link 'SIP' > 'View existing Systematic Investment Plan'
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7.3.d How to place SIP order
Resolution :
- Login to your ICICI Direct Account with your User ID and Password.
- Click on 'SIP' > Create Systematic investment Plan > Select the AMC name
> Fund category as All > Fund Sub Category as All. Click on Go.
- There is a Tab 'SIP' under each Scheme. Select the scheme you wish to invest in.
- Not all schemes would be available for SIP.
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7.3.e How do I cancel the SIP order.
Resolution :
- Login to your ICICI Direct Account with your User ID and Password.
- Click on 'SIP' > View Existing Systematic investment Plan > Click on 'Cancel'
- Confirm the cancellation SIP order.
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7.4.a I have placed an Order in NFO scheme, it show 'Under Process'.
Resolution :
- The status of the order would be 'ordered', till the NFO is closed.
- After NFO is closed the order would be 'Under Process'. After completion of
allotment, Order status would be changed to 'Executed' .
- It basically takes 30 days after the NFO is closed for the allotment of the units.
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7.5.a How do I execute my Mutual Fund KYC.
Resolution :
- You need to fill in the KYC Form. Its also available on http://www.cvlindia.com/downloads01.html
- You need to provide
- PAN Card Copy
- Address Proof.
- You need to walk in with the self attested above mentioned documents along with
the originals and the MF KYC form at any of the ICICI Direct Centre. You can also
submit at any of the Point of Service ( POS ). List available on
www.cvlindia.com.
- It takes approximately 30 days for the execution of MF KYC.
- You can check the status on http://www.cvlindia.com
> Inquiry on KYC.
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7.6.a How do I transfer the Mutual Funds from Off line to ICICI Direct Account in
on line mode.
Resolution :
Criteria
- The offline folios should be in the name of the Account holder of the ICICIdirect
online trading 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
- Transfer In request Letter, which can be downloaded from the Icicidirect.com site,
after placing the transfer in order.
- 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
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7.6.a How do I transfer the Mutual Funds from Off line to ICICI Direct Account in
on line mode.
Resolution :
- 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.
- Self attested PAN copies for each Transfer-in request.
- Latest Statement of account for the MF holding.
- The documents can be submitted at any of the
ICICI Direct Centers.
- It takes 30 days to get the MF units transferred to ICICI Direct.
- You can check the status of the Transfer In in 'TI Book'.
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7.6.b How much time would it take to transfer the Mf holdings.
Resolution :
It would take 30 workings days from the date of receipt of the documents for Transfer
In of Mutual Funds.
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7.7.a How to transfer Out the Mutual Fund Holdings from ICICI Direct.
Resolution :
Criteria
- 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:
- You need to fill in Transfer Out Form.
They are available on www.icicidirect.com > Customer Service Page > Download
forms.
- 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 HDFC 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.
- The documents can be submitted at any of the
ICICI Direct Centers.
- It takes15 days to to process the Transfer Out request.
- .Once transfer out is done, the units holdings will become nil, and the details
of the transfer out will be reflected in customer's Order book.
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7.8.a Can I make a nomination for the mutual fund units purchased through www.icicidirect.com
?
Resolution :
- Yes. The website www.icicidirect.com provides you a facility to make nomination(s)
for your Mutual Fund units purchased online.
- You need to provide a separate copy of Nomination for each of the Fund ( AMC ) held by you in ICICIdirect.com
Account. To update Nominee details in HSBC & ING , Please fill standardised forms.
- Nomination form is available on Customer Service page of www.icicidirect.com under Download Forms.
- You need to send a physical document dully signed at the below address :
ICICI Securities Ltd
Mutual Fund Operations
Shree Sawan Knowledge Park,
Gr.Floor, Plot No: D-507,
T.T.C Industrial Area
M.I.D.C, Turbhe
Near Juinagar Railway Station
Navi Mumbai 400706.
- Nomination would be updated in 7 working days.
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7.8.b Will nomination(s) made in my linked demat/ bank account(s) be automatically
updated for the mutual fund units purchased online?
Resolution :
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.
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7.8.c Can I nominate more than one person in my Mutual Fund Folios ?
Resolution :
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.
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7.9.a How to change the address & Contact details in Mutual Fund at AMC?
You need to provide a separate copy of Request for Change of Address for each of the Fund ( AMC
) held by you in ICICIdirect.com Account.
If you are KYC Compliant through CDSL Ventures Limited ( CVL ), please
fill in KYC
Details Change Form for Individual ( For Change Request ) . You
would also require to provide attested copy of the Identity proof and address proof
as mentioned on the form. To check if you are KYC complaint visit http://www.cvlindia.com > Inquiry on KYC.
Please send the documents at the below address :
Mutual Fund 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.
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Note : |
You can check the folio number in Unit Holdings under Mutual Fund Section once you
login with your ICICI Direct user ID and password. |
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Resident Trading account number starts with 85***** |
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NRI Trading Account number starts with 65***** / 75***** |
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7.9.b How to change the Bank details in Mutual Fund at AMC?
To update the new Bank account at AMC we would require Request for Update Bank Account letter at the below address.
You need to provide a separate copy for each of the Fund ( AMC ) held by you in
ICICIdirect.com Account.
Mutual Fund 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.
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7.9.c How to update Tax status?
If your Residential Status has changed, please provide Change in Tax Status form at the below address. You need
to provide a separate copy for each of the Fund ( AMC ) held by you in ICICIdirect.com
Account. Please send the request at :
Mutual Fund 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.
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7.9.d How do I consolidate the Folio's?
Please provide Folio Consolidation Letter at the below address :
Mutual Fund 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.
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7.9.e I wish to change the Dividend Option Plan?
To change the dividend option from normal payout to re-investment or vice -versa,
you can place a request on line and need to provide request for Change in Dividend Option for every Scheme that you wish
to update.
Please send the request at :
Mutual Fund 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.
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7.10.a What are the charges applicable for investment in Mutual Fund.
Resolution
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AUM Cut-off |
PURCHASE TRANSACTIONS |
SIP TRANSACTIONS |
Service Tax per Transaction % |
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Charge Type |
Charge per Transaction |
Charge Type |
Charge per Transaction |
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Less than Rs. 8 lakhs |
Flat |
Rs. 100.00 |
Flat or Percentage |
Rs. 30 or 1.5% whichever is lower |
10.30 % |
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Rs. 8 lakhs or more |
NA |
Nil |
NA |
Nil |
Nil |
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* Transaction Charges will be charged on each investment made vide a Systematic
Investment Plan (SIP) at the prevailing rate for all SIPs registered from August
1,2009.
The "AUM cut-off" or "cumulative value" of your investments will be taken as per
Value at NAV of your entire MF holdings, at the time of order placement, as seen
on your MF Unit Holdings page. Transaction charges will be applied as per the new
fee structure, accordingly.
The new fee structure applies to all Mutual Fund purchases (excluding those in Liquid
fund schemes), started on or after August 1, 2009
*** You can also refer the details FAQ on MF Fee Structure
click here
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7.11.a What are the KYC requirements for a Mutual Fund Investor?
Resolution :
Individual investors will have to fill-up MF KYC application and need to produce his Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license etc.) and Proof of Address (any valid documents listed in section B of the MF KYC Application Form for Individuals). Non -Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the MF KYC process. A list of Mandatory Certified Documents to be submitted can be found in section C of the MF KYC application form for Non-Individual Investors.
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7.11.b Is there a charge I need to pay to get myself KYC Compliant?
Resolution :
Currently, KYC is being done free of cost.
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7.11.c If I am already providing my PAN/PAN Proof for my investment in Mutual Fund. Is that not sufficient for meeting the requirement of KYC?
Resolution :
The requirement of providing your PAN along with proof is sufficient for proof of identity. However, the current requirement for KYC requires the Mutual Fund to verify identity, address as well as obtain further information about the investor.
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