Mutual Fund Disclosure
In accordance with the extant regulations (SEBI circular: SEBI/IMD/CIR No. 4/ 168230/09 and RBI guidelines on Marketing / Distribution of Mutual Fund / Insurance etc., dated November 16,2009.) following are the details of the comparative commission earned by the Bank from various fund-houses, whose products are being distributed:
|Commission Disclosure (October 2021-December 2021)|
|City Category||T-30 Cities||B-30 Cities|
|Equity||0.60% to 1.80%||0.60% to 3.70%|
|ELSS||0.65% to 1.75%||0.65% to 3.50%|
|Hybrid Fund||0.50% to 1.90%||0.50% to 3.65%|
|Arbitrage Fund||0.25% to 0.90%||0.25% to 0.85%|
|Asset Allocation Fund||0.10% to 1.65%||0.05% to 3.40%|
|Debt & Liquid Schemes|
|Low/Medium/Long Duration Fund||0.00% to 1.45%||0.00% to 2.70%|
|Bond Funds||0.15% to 1.10%||0.15% to 2.10%|
|Gilt Fund||0.10% to 0.90%||0.07% to 1.18%|
|Liquid/Overnight/ Money Market Fund||0.01% to 0.75%||0.01% to 0.75%|
|Floater Fund||0.15% to 0.50%||0.15% to 0.50%|
|Solution Oriented Schemes|
|Retirement Fund||0.50% to 1.90%||1.50% to 3.40%|
|Children’s Fund||0.50% to 1.30%||0.50% to 2.80%|
|Index Funds/ ETFs||0.10% to 0.75%||0.10% to 0.80%|
|FoFs (Overseas/ Domestic)||0.14% to 1.25%||0.13% to 2.65%|
ICICI Bank Limited is an “AMFI - Registered Mutual Fund Distributor”
Detailed commission for each AMC, Click here
The above mentioned rates are subject to change without any prior consent and at a discretion and agreement between ICICI Bank and the respective AMCs.
ICICI Bank distributes mutual fund schemes of its Affiliates or Group Companies. ICICI Prudential Asset Management Company is subsidiary of ICICI Bank Limited.
With effect from October 1, 2013, ICICI Bank has Opted Out of transaction charges for all Mutual Fund schemes. Hence no transaction charges will be levied on purchases of any Mutual Fund products. Consequently, the respective Asset Management Companies (AMCs) will issue Mutual Fund units equivalent to the full subscription amount to the investors.
The above changes will be effective for both online and offline transactions initiated on or after October 1, 2013.
Mutual Funds Important Information
1) Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing. Please also take note of risks highlighted about the product in the offer document and due caution should be exercised (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking any decision, acting or omitting, to act on the basis of the information contained therein.
2) ICICI Bank is acting merely as a distributor of third parties for mutual funds and any investment in such third party products/services shall constitute a contract between the investor and the third party. ICICI Bank shall not be liable or responsible for any loss resulting from third party's products/services. The products, services and benefits referred to herein are subject to the terms and conditions governing them as specified by ICICI Bank / third party from time to time.
3) ICICI Bank is distributor of Mutual funds, the transactions are done on "Execution only" basis unless otherwise agreed between ICICI Bank and customer.
4) Please note that in respect of purchase of units of mutual fund schemes (other than liquid schemes), the closing NAV of the day on which the funds are available for utilisation shall be applicable for application amount equal to or more than Rs 2 Lacs , irrespective of the time of receipt of such application. In case of other investment also Investors should note that they will receive NAV of the day when application form reaches registrar/ AMC.
5) Investor shall be responsible to ensure that the mutual fund application form is complete and all details as required are duly filled in. ICICI Bank is not liable for any consequence in case any of the particulars provided are false, incorrect or incomplete.
6) In the event investor gives direct instruction to the AMC or their agents, ICICI Bank may not be held/responsible in this regard for any reason whatsoever.
7) Based upon the category of the branch that is accepting the MF application form, the customer will be given an indicative timelines within which the form will reach the nearest collection center of the AMC / Registrar. The Bank has identified following timelines for the branches:
Metro : Within T+1 working days
Urban : Within T+1 working days
Semi Urban : Within T+3 working days
Rural : Within T+3 working days
The above mentioned timelines are excluding Saturdays & Sundays.