How to invest in Mutual Funds via NEFT/RTGS on Fyers Direct?

How to invest in Mutual Funds via NEFT/RTGS on Fyers Direct?

Investing in mutual funds on Fyers Direct using NEFT/RTGS is a streamlined process designed to facilitate efficient fund mapping on the BSE StAR MF platform. Here is a step-by-step guide tailored for mutual fund distributors (MFDs) and their clients across different banking platforms:
  1. For HDFC Bank Account Holders: Go to Fund Transfer in HDFC's internet banking facility and select eCMS Module and select 'Transfer within Bank' to add Indian Clearing Corporation Ltd (ICCL) as a beneficiary. This is a one-time requirement. Make the payment via NEFT/RTGS. Once the transfer is successful, note down the Unique Transfer Reference (UTR) Number.
  2. For Clients of Other Banks: Clients who has account with banks other than HDFC bank can still proceed with NEFT/RTGS transfers using the ICCL account details with HDFC bank as per your convenience.
ICCL Bank Account Details for NEFT/RTGS:

Bank
Beneficiary Account No
Beneficiary Name
IFSC Code
Account Type
HDFC Bank
MFDICC
Indian Clearing Corporation Ltd -MFD A/c
HDFC0000240
Current

*Ensure all payments to ICCL are strictly through NEFT/RTGS to maintain the integrity of your transactions and prevent delays or rejections.
​
Points to Remember:
  1. Funds transferred via RTGS are valid for T+1 days, after which they will be reversed to the source account.
  2. Orders have a 5-day validity for NEFT/RTGS transactions. During this period, any funds transferred will automatically be mapped to pending orders, provided the fund amount is higher or equal to the order amount.
  3. Unmapped balance funds will be reversed to the source account in T+1 day. The system will not map funds to any pending or new order if the order value is higher than the balance amount. No partial allocation is done.
Note: The ICICI bank fund transfer has been discontinued from 15th September 2024. For more details, kindly refer to this circular.

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