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:
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.
For ICICI Bank Account Holders: Go to Fund transfer in ICICI's internet banking facility and use the 'Other Bank Payee' option to add ICCL as a payee, also a one-time activity Make the payment via NEFT/RTGS. Once the transfer is successful, note down the UTR Number.
For Clients of Other Banks: Clients who has account with banks other than HDFC or ICICI can still proceed with NEFT/RTGS transfers using the ICCL account details with either HDFC or ICICI 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 | | |
ICICI Bank | 3922 | Indian Clearing Corporation Ltd MF A/c | ICIC0000104 | |
Important: Ensure all payments to ICCL are strictly through NEFT/RTGS to maintain the integrity of your transactions and prevent delays or rejections.
Post-Transfer Process on Fyers Direct:
Choose the mutual fund scheme you're interested in, select 'Lumpsum,' and enter the investment amount.
Select NEFT/RTGS from the dropdown menu and enter the UTR number received after the fund transfer. Your transaction will be completed.
Points to Remember:
Funds transferred via RTGS are valid for T+1 days, after which they will be reversed to the source account.
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.
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.
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