Invest with SmartWealth

Mutual Fund Order Execution

"As per the AMFI best practices all Financial and/or Non-Financial Transactions would be processed by the AMC/RTAs only for those customers (including existing customers) whose KYC status is KYC Verified - Registered KYC. Kindly ensure your PAN is KYC Compliant to avoid any transaction rejections".

New Rule on Applicable NAV effective from 1st Feb, 2021

As per SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated September 17, 2020 read with circular no. SEBI/HO/IMD/DF2/CIR/P/2020/253 dated December 31, 2020, effective from February 1, 2021, the applicable NAV in respect of purchase of units of mutual fund scheme shall be subject to realization & availability of the funds in the bank account of mutual fund before the applicable cut off timings for purchase transactions, irrespective of the amount of investment, under ALL mutual fund schemes. (The above rule is already applicable for purchase transactions under Liquid funds and Overnight Funds).

"Cut off time for Online Subscription Orders: W.e.f 9th November 2020 the cut off time for transacting in Mutual Funds on SmartWealth will be 2 PM. For Liquid Funds the cut off time shall be 12.30 PM to get the historic NAV." For transactions received post cut off time applicable NAV would be the next business day.

For Liquid Funds, previous day NAV is applicable for transactions through SmartWealth Account if invested before the cut off time 12.30 PM. Same day NAV is applicable for transactions through Investment if invested after the cut off time 12.30 PM but prior to cut off time 1400 hrs (2 PM). Hence for transactions done on Friday post 12.30 PM, customers will get NAV as per fund house rules i.e., Sunday NAV. 

For redemptions/Switches for all type of schemes cut off time is 2 PM.

As per regulatory requirement, individual investors and joint holders are required to provide extended KYC details. In absence of the same, transactions may get rejected by AMC/RTA. Joint holders of SmartWealth Account (Mutual Fund) accounts may update the same through Net Banking site.

With effect from 1st October 2015, HDFC Bank has "Opted-out" for transaction charge. 

As per SEBI circular Cir/IMD/DF/19/2010 dated November 26, 2010 splitting of transactions which aggregate to Rs 1 crore or more on a business day in income/debt oriented schemes (other than liquid fund schemes) is prohibited. We urge investors to avoid such practices.

With effect from 1st January 2011, any investor (all applicants in a folio) investing into mutual funds through the SmartWealth Account would be required to be KYC compliant without which the transactions may be liable to be rejected by the respective mutual fund houses.

To know more Click here

Nomination (either opt in or opt out) will be mandatory for all the Mutual Fund investments.

All transactions through the SmartWealth Platform are initiated by me and are "Execution only" transactions. I/We hereby confirm that the transactions executed by me through SmartWealth App

Platform do not require Employee Unique identification number (EUIN) as this transaction is executed without any interaction or advice by the employee/relationship manager/salesperson of the HDFC Bank or notwithstanding the advice of in-appropriateness, if any, provided by the employee/relationship manager/sales person of the distributor/sub broker.

I understand the inherent risks in investments in mutual funds that I am investing in and in my own assessment, I find that this investment is suitable for me considering my investment profile. I understand that mutual funds investments are subject to market risks and returns from such investments could be volatile and there exists possibility of capital erosion also. I would like to go ahead with the investments in mutual funds. Mutual Fund investments are subject to market risk. Please read all Scheme related documents carefully before investing.

Commission disclosure: (https://www.hdfcbank.com/personal/invest/mutual-funds)

In terms of the instructions issued by CBDT, Ministry of Finance, Government of India, with effect from May 01, 2017, all FATCA non-compliant MF folios (opened during the period July 01, 2014 to August 31, 2015) would be blocked for all types of commercial as well as non-commercial transactions. In case you/or Joint Holders have not yet updated your "Extended KYC (FATCA)" details kindly update the same from NetBanking or can also submit the physical Extended KYC (FATCA) documents at your nearest Branch.

From SmartWealth platform client can complete FATCA registration if same is unavailable while onboarding.

• W.e.f January 1,2016 any subscription whether fresh, additional investment, or switch shall not be permitted by the AMCs if the KYC status of PAN for Mutual Funds is not updated as "KYC Registered-New KYC".

• Demat Account is compulsory for an investor who wishes to avail tax benefits under RGESS schemes and the Demat details should be specified at the time of application. Unit holders holding units in physical and / or converting physical units into demat will not be eligible for claiming tax deduction under RGESS. Investments into RGESS funds through HDFC Bank's online platform would not be eligible for tax benefit.

• Important update for investors who have completed KYC formalities prior to January 01, 2012, through CVL: SEBI vide its circular no. MIRSD/Cir-5/2012 dated April 13th 2012 has advised to update KYC records for all customers by filling 'KYC Details Change Form'. Non-updation of records will lead to rejection of transactions. To access the form and instructions please click on the below links.

             https://kra.ndml.in/
             https://camskra.com/
             https://www.cvlkra.com/

• Important: Execution through SmartWealth Account will be initiated with instant debit hence customers are requested to check scheme details/business day's before initiating a transaction.

Note:

• With effect from 1st January 2011, any investor (all applicants in a folio) investing into mutual funds through the SmartWealth Account would be required to be KYC compliant without which the transactions may be liable to be rejected by the respective mutual fund houses.

• In terms of SEBI Circular No IMD/SM/7179/2010 dated June 2nd 2010 unitholders have been allowed unfettered and unrestricted access to transact at AMC/ RTA. Please note that in light of this change we are directly dependent on the AMC to ensure that feeds received from the AMCs / RTAs are in line with the above regulatory change. HDFC bank shall thus neither be liable for any mismatch in details with the AMCs nor to any rejection of transaction thereafter or delay in processing which results in customer not getting the same day NAV.
  
  

Terms and Conditions

The ARN holder, being HDFC Bank (AMFI Registered Mutual Funds Distributor) Limited has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us. In case of any queries / want to know the latest fees and charge, the same can be done by visiting the website ( https://www.hdfcbank.com/personal/invest/mutual-funds )

• In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load (Entry load is the commission that an investor has to pay while purchasing units of a mutual fund.)  will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor.

• In terms of SEBI Circular No IMD/SM/7179/2010 dated June 2nd 2010 unitholders have been allowed unfettered and unrestricted access to transact at AMC / RTA. Please note that in light of this change HDFC Bank (AMFI Registered Mutual Funds Distributor) is directly dependent on the AMC to ensure that feeds received from the AMCs / RTAs are in line with the above regulatory change. HDFC bank shall thus neither be liable for any mismatch in details with the AMCs nor to any rejection of transaction thereafter.

• Demat Account is compulsory for an investor who wishes to avail tax benefits under RGESS schemes and the Demat details should be specified at the time of application. Unit holders holding units in physical and / or converting physical units into demat will not be eligible for claiming tax deduction under RGESS. Investments into RGESS funds through HDFC Bank's online platform would not be eligible for tax benefit.

The transaction undertaken by the customer is an ‘execution only’ transaction and HDFC Bank has not provided any advice and the customer confirms and acknowledges that the HDFC bank has not advice in relation to appropriateness of the transaction and all investment decisions taken by the customer is independent.

Authorisation (This authorisation is voluntary. However, the same is required to be executed by the customers in order to avail of seamless trading platform with integrated bank account, demat account and this SmartWealth App Platform. This authorisation and instruction is being issued by the customer in furtherance of, pursuant to and forms an integral part of and supplements these terms and conditions. If you do not wish to use the services of HDFC Bank Limited, you need not provided this authorisation.)

• I/We hereby voluntarily appoint HDFC Bank Ltd. ("The Bank") to facilitate purchases and redeem units of mutual funds on my/our behalf, as may be instructed by me/us from time to time, on the terms and conditions mentioned herein. I/We agree that the Bank may at its sole discretion vary the terms and conditions or withdraw any of the facilities provided herein from time to time.

• I/We authorise the Bank to execute my /our instructions with regards to purchase or redemption of the units.

• Transaction rights will be pursuant to the customer executing and granting a mandate in favour of the bank, in the manner and form as prescribed by the bank from time to time. A mandate will be applicable to all SmartWealth Accounts whether presently existing or to be opened in future

• With respect to recent SEBI circular which requires 2FA authentication for web based orders all orders will be authenticated via OTP mechanism.

Purchase/Sale / Switch (Including SIP, STP & SWP)

All transactions through the SmartWealth App Platform are initiated by me and are "Execution only" transactions.

I/We hereby confirm that the transactions executed by me through SmartWealth App Platform do not require EUIN as this transaction is executed without any interaction or advice by the employee/relationship manager/sales person of the HDFC Bank (AMFI Registered Mutual Funds Distributor) or notwithstanding the advice of in-appropriateness, if any, provided by the employee/relationship manager/sales person of the distributor/sub broker.

Transaction instructions only from Registered Customers of SmartWealth Account would be processed. Registered customers can only Purchase, Redeem and Switch Mutual Fund units through this service.

There may be an Entry and/or Exit Load in Mutual Fund schemes, which are mentioned in the offer document. Please check the same before investing.

Investments from residents in the United States of America and Canada are not permitted in certain mutual funds. HDFC Bank (AMFI Registered Mutual Funds Distributor) shall not be liable for rejections of such applications by Mutual Funds, where investor is a resident, domicile or citizen US and Canada. HDFC Bank (AMFI Registered Mutual Funds Distributor) shall not be liable for rejections of such applications by Mutual Funds, where investor is a residence, domicile or citizen of any sanctioned countries.

Purchase instructions shall be processed only after funds sufficient to cover the purchase price and other costs and charges have been received by the Bank.

If for any reasons the Bank is unable to purchase or redeem the full quantity of units such as instructed by me/us, the Bank shall be entitled at its discretion and I/We hereby irrevocably authorised the bank to purchase or sell (as the case may be) a lesser quantity of units/securities. The Bank shall not be responsible for the non-execution of my/our instruction for the entire quantity or the remaining quantity.

If after execution of any transaction it is for any reason found that the Bank has not put in sufficient funds, I/We shall pay the deficient amount to the Bank forthwith on demand failing which the bank may (but shall not be bound to) square up the transaction at any time at my/our sole risk and cost. Any loss on such squaring up will be borne by me/us solely and I/We will pay to the Bank the additional amount that may be payable by me/us, the Bank's demand being conclusive.

The Bank has currently tied up with majority of the mutual funds and the same has been made available on this App. In the event the customer is interested in a mutual fund scheme that is not available on the App and the customer is interested in making investments in such mutual fund schemes, please visit your nearest HDFC Bank branch or the relevant mutual funds website.

Subject to SEBI regulations, I/We acknowledge that the units of the schemes shall be allotted, redeemed or switched, as the case may be, at the Net Asset Value (NAV) prevalent on the date of the application by the Mutual fund, if the application for purchase, redemption or switch is received by the Mutual Fund before the cut-off time (In the forex market, a particular point in time specified by a forex dealer to stand as the end of the current trading day and the beginning of a new trading day is known as the daily cut-off time.) as specified by the bank and consistent with the terms of the Scheme. However, the Bank shall not be liable for any loss that may arise to me/us as a result of the incorrect NAV (Net Asset Value. It is a mutual fund's price per share or exchange-traded fund's (ETF) per-share value. In both cases, the per-share dollar amount of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.) applied on units allotted to me/us by the Mutual Fund. NAV related information and calculations can be obtained from the website of the respective mutual fund. NAV related information of the respective mutual funds will be available on SEBI website.

For liquid funds please refer Cut off Timings Under Investment Service Account.
With effect from 1st October 2015, HDFC Bank (AMFI Registered Mutual Funds Distributor) has "Opted-out" for transaction charge.

As per SEBI circular Cir/IMD/DF/19/2010 dated November 26th 2010 splitting of transactions which aggregate to Rs 1 crore or more on a business day in income/debt oriented schemes (other than liquid fund schemes) is prohibited. We urge investors to avoid such practices

Important: Execution through SmartWealth Account will be initiated with instant debit hence customers are requested to check scheme details/business day's & cut-off time (In the forex market, a particular point in time specified by a forex dealer to stand as the end of the current trading day and the beginning of a new trading day is known as the daily cut-off time.) before initiating a transaction.

In case a customer wishes to change Bank as his distributor or wishes to go direct, Mutual Funds/AMC’s shall ensure compliance with the instruction of the customer informing his/ her desire to change his distributor and / or go direct, without compelling that investor to obtain a ‘No Objection Certificate’ from the Bank.

Communication of Instructions

All instructions (including instructions for modification of this clause) shall be given only by the first holder above, on behalf of both/all of us and for this purpose I/We the second and the third holders above irrevocably constitute the first holder above as my/our agent. All instructions given by the first holder above shall be binding on both/all as if given by each of us personally. I/We agree that the instructions may be for purchase of units in the sole name of the first holder or in the name of the first holder jointly with other persons to the exclusion of the second or the third holder. I/We hereby authorise the Bank to act on such instructions given from time to time.

Subject to applicable laws, the instructions for purchase or redemption of the units may be given through the Bank's App, or in any other manner as may be acceptable to the Bank.

I/We agree and acknowledge that units purchased by giving instructions through any of the above modes will be instructed for redemption through any of the above medium only.

I/We acknowledge that after the first purchase transaction in any Mutual fund, I/We may not be permitted to transact for a period of 4 to 7 business days till the Folio number is allotted, depending upon the processing time of the Mutual Fund's Registrar. The Bank does not accept any liability for delay in processing time at the Mutual Fund's or Registrar's end.

The Bank may refuse to act on any instruction unless they are given in a manner and form acceptable to the Bank or given orally over the telephone and in accordance with the bank's Phone facility subject to Bank's right to verify such instructions. However, the bank shall have no responsibility to determine the authenticity of any instruction given or purported to be given by me/us. I/We shall not hold the Bank liable on account of bank acting in good faith on any of my/our instructions.

The Bank may at its discretion not carry out my/our instructions where the bank has reasons to believe (which decision of the Bank I/We shall not question or dispute) that the instructions are not genuine or are otherwise improper or unclear or raise a doubt. The Bank shall not be liable if any instructions are not carried out for any reasons whatsoever.

I/We clearly agree that the bank needs to receive clear instructions from me/us to induce the bank to effect fund transfer activities on behalf of me/us. I/we agree to indemnify the Bank against any improper/fraudulent fund transfer instruction purported to be received from me/us. The Bank shall not be obliged to accept from me/us any oral or facsimile instructions. In order to, however, induce the bank to act upon communications and instructions transmitted by manual procedures (Facsimile, Mail, messenger, Telephone call centre) I/We hereby irrevocably agree that, absent the Bank(s) gross negligence, bad faith or wilful misconduct, as long as the Bank acts in Compliance with such authorisation / instruction, the Bank shall be indemnified for and held free and harmless from and against any and all responsibility for, any and all costs, claims, losses or liabilities of any nature (Direct or Indirect) resulting from any act of omission (or any delay) in response to instructions to the Bank to transfer or purchase, sell or otherwise dispose off commodities or securities, together with any and all attendant costs and expenses including the Bank(s) reasonable legal fees and expenses, collectively referred to as losses. I/we also acknowledge that the security and the control procedures provided by the Bank are designed to verify the source the communication and not to detect errors in transmission or content including discrepancies between names and account numbers and that the Bank, or any intermediary, may execute an instruction by reference account number only, even if the name on the account is also provided. Nothing contains herein shall require the Bank to violate any applicable laws, rules or the procedures/Instructions. The Bank shall have no further duty to verify the content of any instruction and communications, whether or not authorised, sent in its name and accepted by the Bank. The Bank will process the transaction instruction as it is received and will not validate the same for holdings, correctness of transaction and any other information.

Reports Disclaimer
Please note that this report, prepared specifically at your request, is for information purposes only and is not an official confirmation of any transaction. Asset / product allocation displayed in the report is based on standard tabulated profiler with a fixed percentage allocation to each asset category. This may vary from your actual asset allocation requirement. These are standard adopted procedures for each asset category. Please use this only for the purpose of guidance. This Report is compiled based on the Data received from various agencies like AMCs (Mutual Funds) and their RTAs (Registrars), Insurance companies, portfolio managers, private equity funds, Equity / Debt Brokers and based on Equity price & NAV data from various sources. The information herein is believed to be reliable and has been obtained from sources believed to be reliable and while effort was made to ensure accuracy of information indicated in this report, we cannot confirm full accuracy. Please refer to the actual statements issued by the respective fund house / product manufacturer for accuracy. In addition to this, the held-away transactions captured / executed by you through any external party / agency / agent etc. are included only for the purpose of consolidation, based on inputs received from you in this regard. Information on assets/debts in Non-HDFC BANK portfolio is based on data shared voluntarily by you on as is basis and is included in the report without any verification. The annualized return is calculated over the entire investment period considering all cash flows (for current active holdings) and is computed using the Extended Internal Rate of Return (XIRR) method. It is calculated on the market value as on the date preceding the statement date, which might be different than the Market Value shown in the report.

HDFC BANK neither guarantees nor makes any representations or warranties, express or implied, with respect to the fairness, correctness, accuracy, adequacy, reasonableness, viability for any particular purpose or completeness of the information contained in the report. Further, HDFC BANK disclaims all liability in relation to use of data or information used in this report which is sourced from third parties. Except where expressly stated otherwise, this report contains information on investments in third party mutual funds/insurance/Equities /investment funds and other alternate products, which may / may not be distributed by the HDFC BANK. HDFC Bank is not responsible for accuracy of this report as there is dependency on the data input and correct mapping of the data to you. HDFC Bank will not be liable for any transaction action taken by you based on this report. Neither HDFC Bank nor any of its employees shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including loss of profits arising in any way from the information contained in this report. It advised that Exit loads applicability is referred before taking any decision and that Exit load (if any) levied by the fund house would be recovered from redemption proceeds. HDFC Bank is not liable for any holdings not reflecting or wrongly reflecting in this report. HDFC Bank has compiled this report on best effort basis & report is not to be used for tax filing and related activities and you should refer actual transaction statements issued by fund house/product manufacturer and consult tax practitioner.

All the Bank Accounts linked to your Customer ID submitted / informed by you to your Relationship Manager / the person servicing you from the bank are reflected in the report in the form of Cash/Debt. Investment in FDs are displayed at the investment amount. The MF NFO transactions executed by you will be part of the holdings on the basis of receipt of NFO feed from respective AMCs/ RTA executed through HDFC Bank. MF Dividend payouts are part of the holding statements and the NAV is reduced to the extent of Dividend payout. The Direct equity portfolio reflects the equity holdings in the demat account held with HDFC Bank and are updated for providing the valuation of the equity portfolio. The cost price for equities / Insurance (unit linked schemes) is a dummy value (Last available NSDL Price only for equity) and is not to be used for return/gain calculation. Accrued interest on the Bonds is calculated on face value based on data received from vendor and is just for representation purpose. Market value for unlisted securities is not updated as the same is not available. For unlisted/not frequently traded securities, last traded price may not represent actual valuation and / or current market price, the stock / security prices are also dependent on the liquidity of that particular stock. Private Equity and portfolio management investments are updated as part of the equity holdings and are shown at the last available valuation/ cost price. Structured products are updated under the head Fixed Income and are valued at cost.

All returns are calculated on the net amount received by you post deduction of statutory levies and taxes if any. Rates mentioned for the Term Deposits with HDFC Bank is the applicable interest rate of the deposit(s). For Standalone Term Deposits i.e (Deposits held with Corporate), in case of partial withdrawal, interest paid/accrued will get adjusted at the next transaction/month end/maturity whichever is earlier. Transmission-In cases have been treated as Purchase Transactions, & Transmission-Out cases have been treated as Redemptions / Sales Transactions. Amount related figures are rounded off up to 2 decimal places in the report. In case the NAV for scheme / funds is not received from the RTA, the last available NAV or the face value of the respective scheme / fund is reflected. Under Equity Class, Units / Quantity are rounded off to the nearest integer value, however holdings where the units / quantity are less than 1 are excluded from the reports. For Insurance holdings Buy Cost is total premium paid. Units from Dividend reinvested have been added to Current Quantity and the 'Dividend/Interest Paid' column only refers to cash dividends and Interest Paid.

The referred information is based on the end of the day balance in the respective accounts held with HDFC BANK on the date of generation of this report. The prices, value, income and appreciation of the investments mentioned in this report are captured on the basis of data received from different sources and are subject to change. Note that the data used for this classification is obtained from a variety of sources and may not be current (see 'As of Date/NAV Date/Valuation Date' shown in the details section for the date the portfolio holdings reported by the fund). Mutual funds, closed end funds and the investment options of underlying annuities change their portfolio holdings on a regular basis (often daily). Accordingly, any analysis that includes mutual funds, closed end funds and the investment options of underlying annuities may not accurately reflect the current composition of these funds. In case of any change, please contact your relationship manager.

HDFC BANK acts merely as a distributor of mutual fund and insurance products and is not a custodian or advisor in respect of investments mentioned in the report. HDFC BANK shall not be liable for any delay in receipt of this report. Please notify us immediately and in any case within two weeks of the report date if you notice any error or discrepancy in the report. This report is for your exclusive and confidential use only. Any distribution, use or reproduction of this report without the prior written permission of HDFC BANK, is unauthorized and strictly prohibited. If you have received this report in error (or are not the intended recipient) please notify HDFC BANK immediately and destroy this report.