Wednesday, August 5, 2009

Mutual Funds - Entry Load & Exit Load

I have listed down the Entry Loads charged by the various distributors (for MFs):

1. CITIBANK:

SUBSCRIPTION/SIP (SYSTEMATIC INVESTMENT PLAN)
Amount in INR Transaction Fee**
Equity
Upto 2 Crs 2%
From 2 – 5 Crs 1.5%
5 Crs & above 1%
Equity Arbitrage Funds Nil
Debt Nil
MIP 0.5%
Liquid Nil
On top of it 10.3% service tax will be levied.

For redemption :
An exit load @ 2.25% has been applied on the NAV by the Fund House.

2. ICICIDirect
If MF holdings in ICICIDirect is less than 8 lakhs
SIPs : Rs 30 or 1.5% Whichever is lower
Lumpsum: Rs 100

On top of it 10.3% service tax will be levied.

If MF holdings in ICICIDirect is greater than 8 Lakhs then charges are NIL.

Not sure if the charges are applicable for Liquid/Debt funds. Citibank's response addressed this.

3. Kotak Securities
No charges levied.

Information has been taken from respective sites or emails sent by the respective distributors.