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More About Mutual Funds – ISA

• Eligibility
• The applicant must already have a bank account, as a customer ID is required.
• Applicants must be KYC compliant. KYC compliance is mandatory for all Mutual Fund investments, regardless of the amount. For NRIs (non-face-to-face), the KYC acknowledgement must be attested by the Indian embassy.
• The Savings Bank Account must be Single or Either/Survivor.
• All Bank Account holders must sign the Account Opening Application Form.
• Fees and Charges
• Quarterly maintenance charges for the Investment Services Account (ISA) are ₹250 for resident customers and ₹500 for NR customers.
• As of 1st October 2015, HDFC Bank no longer applies transaction charges. 
• Quarterly Maintenance Charges for the Investment Services Account (ISA) are subject to 18% GST as per Government Regulations. 
• Cut off timings
• Starting on November 9, 2020, transactions completed before the 2 p.m. cutoff will receive the same-day NAV. Transactions submitted after this time will receive the next business day's NAV. 
• In Liquid Funds, transactions via ISA before the 12.30 PM cutoff use the previous day's NAV. Transactions between 12.30 p.m. and 2 p.m. use the same day's NAV. After 12.30 p.m. on Fridays, transactions use the Sunday NAV as per fund house rules.
• Redemptions/Switches for all schemes must be completed by 2 p.m.
• Physical applications forwarded to the AMC/RTAs:
• Cut-off timing w.e.f. 09-Nov-2020

 

S. No.	Scheme Category	Subscription	Redemption	Switches
1	Liquid and Overnight Funds	1:30 p.m.	3.00 p.m.	3.00 p.m.
2	Other than Liquid and Overnight Funds	3:00 p.m.	3:00 p.m.	3:00 p.m.

 

• Most Important Terms and Conditions
• *The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.