India’s Premium HDFC Bank – Provides an Online Interface to Invest in Mutual Funds – a.k.a Investor Services Account. This Interface Sucks and is in Violation of AMFI / SEBI Rules and Guidelines.

1. The Cut Off time for Investors is 2:00PM on every day while SEBI / AMFI mandated Cut off time is 03:00PM This is a straight forward violation of the rules. Screenhot shown below

2. Once you do a fresh investment in some mutual fund, you will not be allowed to BUY in the same until a folio is created. That means you will have to wait for 2 or 3 days and cannot average the same like during the current fall in Market and subsequently the NAV

3. HDFC Bank Suckers will use their Financial Advisory Code and Get Trial Commission without even your authorization. There is no means to invest in Direct Mode, thus this is another violation and SEBI /AMFI are sleeping on this issue.

Do not use this Interface at all.

Aggrieved Consumer,
Chetan