Mutual fund investment via HDFC securities

[Cherry]

Dear folks,
I hold a HDFC speciale gold savings account with HDFC bank. My RM is forcing to open demat account and invest in Mutual funds through HDFC securities to increase relationship value .
He says opening and Annual charges are free.

Currently I invest through Paytm money. Before opening an account with HDFC securities someone please clarify:

1. Can I invest in all companies MF through HDFC Securities?
2. Are there any transaction charges for Purchase / Redemption/ SIP?
3. Are direct mutual funds are available on this platform?
4. Are there any additional/ hidden charges through HDFC securities platform?
5. Any other suggestions please

Thanks in advance

 

[sourpai]

I don't think HDFC securities offer direct MF investments. It will be only regular. There itself you will loose ~1%, which compounds and becomes bigger number over the years. Zerodha Coin or Paytm Money (which you are using already) are better options to invest in MFs. Overall it is not a good idea to invest in MFs via full time brokers due to direct vs regular issue

Redemption charges for MFs will depend on exit load conditions of that scheme.

 

[Cherry]

I don't think HDFC securities offer direct MF investments. It will be only regular. There itself you will loose ~1%, which compounds and becomes bigger number over the years. Zerodha Coin or Paytm Money (which you are using already) are better options to invest in MFs. Overall it is not a good idea to invest in MFs via full time brokers due to direct vs regular issue

Redemption charges for MFs will depend on exit load conditions of that scheme.

Thanks for the info

 

[quino]

if you can't avoid it, i suggest purchase direct mfs and dematerialize them to hdfc in batches. they should still be direct. @sourpai any inputs?

 

[Cherry]

if you can't avoid it, i suggest purchase direct mfs and dematerialize them to hdfc in batches. they should still be direct. @sourpai any inputs?

Thanks for the suggestion. But somewhere in this forum I have read that the mutual fund purchase has to be done through the broker ( in this case HDFC bank) inorder to count under TRV.

 

[credit_debit]

Open Zerodha account and connect your saving account to the same. Minimum charges and direct Mutual funds available.

 

[infinia_finally]

I categorically told my RM no MF through HDFC as no direct plans. A good RM understands and never bothers again. Any banking transaction should be win-win. Customer is not going to bear loss to please RM.

If you like Zerodha interface, 300 pa is not huge annual fees.

But I stopped SIP from Zerodha because of new rule where money can't come from Zerodha balance. Earlier I could just have standing instruction to transfer money to Zerodha balance every month and do SIP. But now every month I need to approve something on mobile. So I just directly use AMC websites and configure one-time. I track everything on VR

 

[kishorvr]

I categorically told my RM no MF through HDFC as no direct plans. A good RM understands and never bothers again. Any banking transaction should be win-win. Customer is not going to bear loss to please RM.

If you like Zerodha interface, 300 pa is not huge annual fees.

But I stopped SIP from Zerodha because of new rule where money can't come from Zerodha balance. Earlier I could just have standing instruction to transfer money to Zerodha balance every month and do SIP. But now every month I need to approve something on mobile. So I just directly use AMC websites and configure one-time. I track everything on VR

Oh yes, I too have opened accounts but have only tracked with AMCs. I stil pay on Zerodha so I don't have to open each account every month.

 

[COSMOCRAT]

to increase relationship value

What will he offer in return?

 

[sidp]

Currently I invest through Paytm money. Before opening an account with HDFC securities someone please clarify:

@S S V has invested in hdfc securities or sky. He might be able to help.

 

[SSV]

Dear folks,
I hold a HDFC speciale gold savings account with HDFC bank. My RM is forcing to open demat account and invest in Mutual funds through HDFC securities to increase relationship value .
He says opening and Annual charges are free.

Currently I invest through Paytm money. Before opening an account with HDFC securities someone please clarify:

1. Can I invest in all companies MF through HDFC Securities?
2. Are there any transaction charges for Purchase / Redemption/ SIP?
3. Are direct mutual funds are available on this platform?
4. Are there any additional/ hidden charges through HDFC securities platform?
5. Any other suggestions please

Thanks in advance

@S S V has invested in hdfc securities or sky. He might be able to help.

HDFC securities is expensive.
Look at HDFC sky. No direct MF

 

[Cherry]

What will he offer in return?

To maintain the preferred status of account aswell for a better credit card offering

 

[SSV]

To maintain the preferred status of account aswell for a better credit card offering

Not worth .. which betters cc he is offering?
Preferred or Imperia not worth at all

 

[sidp]

To maintain the preferred status of account aswell for a better credit card offering

For that you dont need to invest in hdfc securities. All depends on your negotiation skill. People have successfully leveraged hdfc sky, car/life/health insurance also.
They wanted me to invest in endowment funds and hdfc securities. But there are many fees, and clause. Better to invest directly.
If you want to increase relationship, their insurance is a good option. Here you lose very less. You would have anyway taken a policy. Just have to pay little more. I've heard good things about their insurance policy. So considering to transfer my car insurance 1st.

 

[sidp]

Not worth .. which betters cc he is offering?
Preferred or Imperia not worth at all

@Cherry That's useful only if you plan to use locker and take homeloan. As they reduce processing charge for that.

 

[COSMOCRAT]

To maintain the preferred status of account aswell for a better credit card offering

Carrot and stick