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Category: ICICIDirect

ICICIDirect – Mutual Fund SIPs – Feature Required

ICICIDirect – Mutual Fund SIPs – Feature Required

One feature I would love to see in ICICIDirect’s implementation of MF SIPs is the ability to query the list of existing SIPs in different ways. This screen shot shows what exists now: This page is a just a list of active SIPs. While it does provide the basic functionality of working with Mutual Fund SIPs there are some important features missing: Sorting: The ability to sort the table by Scheme Name. This is particularly useful for people like me…

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ICICIDirect – Mutual Fund SIPs – Improvements & New Features

ICICIDirect – Mutual Fund SIPs – Improvements & New Features

I have used ICICIDirect for a long time and have watched with interest and appreciation their continuous efforts to innovate and improve the end user experience. Their platform was the first to offer many new features like SIPs in Mutual Funds. They did stumble with the implementation of various features. For example when they introduced SIPs in MFs in the mid 2000s they treated the individual SIP purchases as fresh purchases and this attracted the usual Entry Load. This was…

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More ICICIDirect Stupidities – Purchasing a Mutual Fund, Growth Option

More ICICIDirect Stupidities – Purchasing a Mutual Fund, Growth Option

I have had a long running love-hate relationship with ICICIDirect for half a decade now. More hate than love. Their platform is closely integrated with the ICICI Bank online banking platform and that makes things very convenient. Of course I haven’t looked at what others like Share Khan & Reliance Money are doing now in 2009 but back in 2004 they were not offering Mutual Funds and one had to write a cheque etc. So I am still with ICICIDirect….

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ICICIDirect Trying To Trick Retail Mutual Fund Investors, Again!

ICICIDirect Trying To Trick Retail Mutual Fund Investors, Again!

ICICIDirect is know for it’s shady practices. They are at it again with the SEBI ruling on Mutual Fund Entry Loads which comes in to effect today (August 1, 2009). I will show you how they are out to confuse people and how their entire approach is crafted to benefit the rich customers at the expense of the average Raju. I am customer of ICICIDirect. Yes, I know. Pathetic. I signed up in late 2004 and since I was primarily…

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ICICIDirect’s New Message On Mutual Fund Purchase Page

ICICIDirect’s New Message On Mutual Fund Purchase Page

The new direct sales no-load criteria for Mutual Funds in India came into effect on January 4, 2008. Under this investors are not charged an entry load if they purchase directly from the AMC. The operative word is “direct”. I have seen a lot of discussion on this issue on our internal mailing lists at work and elsewhere on the web. A lot of people seem to be confused about what “direct” means. The word was taken to mean “online”…

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