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Are you an Indian investor looking to explore the US stock market? Diversifying your portfolio with US stocks is a smart way to protect your wealth against Indian rupee inflation. Luckily, transferring funds from your HDFC Bank account to your Vested Brokerage account is a simple process, and it involves no fixed fees. Let’s walk through the steps together.
How to Transfer Funds from HDFC Bank Account to Your Vested Brokerage Account
Step 1: Log in to Your Vested Account
Step 2: Navigate to the Transfer tab and select Add Funds.
Step 2: Choose HDFC Bank from the list of supported Indian banks.
Step 3: Enter Your HDFC Bank Details and Customer ID. Your Customer ID is a unique identifier provided by HDFC Bank. If you’re unsure of your Customer ID, you can quickly retrieve it online with just a few clicks here.
Step 4: Enter the amount that you wish to transfer in INR.
Step 5: Review the details of your transaction in the next screen. Click the “i” button to view more information if needed.
Step 6: Verify the transfer using the OTP sent to your registered mobile number.
Step 7: Carefully review and accept the FEMA regulations and terms & conditions.
Step 8: Once you confirm everything and complete the transaction, your funds will be transferred within 1-2 business days. You’ll receive a notification once the transaction is complete.
Conclusion
Investing in the US stock market via Vested is a fantastic way to diversify your portfolio. Transferring funds from your HDFC Bank account to your Vested Brokerage account is a straightforward process that can be completed in just a few steps. Remember, before making any financial decisions, always consider the associated risks and do your due diligence. Happy investing!
Frequently Asked Questions (FAQs)
What is the minimum amount I can transfer to my Vested Brokerage account from HDFC Bank?
The minimum amount for transferring funds from HDFC Bank to your Vested Brokerage account is 100 USD. This is a requirement from Kotak Mahindra Bank.
Can I transfer funds to a Vested Brokerage account using any other bank than HDFC Bank?
Yes, you can transfer funds to your Vested Brokerage account from any bank that supports international transfers. Some options include SBI, IDFC Bank, Axis Bank, Kotak Mahindra Bank, ICICI Bank, and others. Keep in mind that the process and fees may vary based on the bank and transfer method used.
For banks like Axis Bank and HDFC Bank, we have direct integrations that make the fund transfer process even easier. For other banks, you can follow the transfer instructions by:
- Logging into your Vested Brokerage account, selecting Transfer > Add funds > Indian Banks > Select Bank > Download Instructions. Additionally, you can watch this video where we break down the entire process step-by-step.
