Arkade Developers Limited IPO Message Board (Page 13)

I have the same question

Yes, you can.

IDFC - No
Yes - Yes
AU - Yes
RBL - I guess yes

RBL - Yes

anyone please confirm what is minimum amount needed to avail flexi FD in IndusInd. for instant in Kotak minimum balance need to be 25000 to start flexi deposit to work.

IndusInd also provide the link FD. I have read on this forum. others may confirm.

I tried opening a HUF savings account in ICICI and they said in branches they service only Wealth and privilege banking (min balance 1L or FD of 1L). There is no way for a minimum balance savings account to be opened in ICICI for HUF then.

​@BR Groot  i have kotak A/C , i want to know about FD based IPO applying process, seems you have and you are using that process, so kindly please tell me full process step by step. thank you in advance

​@CASuraj  In AU bank, will an overdraft will be taken automatically on fds?
I mean, will applying ipo's on fd will have an effect on interest?

In case of kotak, interest was not affected at all for me

​@SRINIBAS REDDY Goto your kotak app or netbanking and select the optnion ActivMoney->select sweep limit. for me any amount 50k becomes an FD automatically every night in multiples of 1000s. Else walk into kotak and fill the form to enable ActivMoney.

​@BR Groot Currently I am using Indusind account but I faced some troubles during operating the account, I am using its ASBA from last 8 months but sometimes it's doesn't allow to cancel the retail bids , faced this around 4-5 times , you can't change the mobile number online or using your cards you must have to go the branch to change the number , ATM's have option to change but doesn't work. Thier system is so rigid that it doesn't allow thier bank employees to undo things , faced this problem while opening my mother account, online account opening failed by thier employees so it took me around 18 days to open the bank account by filling the form and my funds were blocked for those 18 days. Now I am thinking to move on to yes bank from Indusind , because I am using my friend yes bank account from past 4 months and not faced any major problem. And you will feel like using an old age website while using indusnet, I think they need to upgrade their old age website to something new. This is my personal opinion some people may have better experience.

​@shahsd No, interest will not be affected in any way in AU.

OD against FD is a different concept all together.

​@Scube  Thank you sir for your information. Could you please share the details of Indusind and Yes Bank for the following?
1. Min balance required to open aact
2. Does bank support FD linked ipo application?
3. Cut off time for HNI application?
4. Does ASBA save demat detail?
5. Does netbanking require OTP to login?
6. Can i apply ipo via bank mobile app?

I can see both IndusInd and yes bank has HUF savings account facility. Thanks once again for your support🙏🏻

​@BR Groot 1- MAB in yes bank is 10k and for HUF also it is same , I am also looking for a bank for my HUF.
When I opened my account in Indus they asked me to maintain 25k as they were not opening account variant of 10k , but they have reduced the 25k MAB to 10k on the same variant of account.

2- Both bank support Linked fd and you can apply ipo from linked fd.

3- Cut Off time is most probably 3 PM for both bank for HNI bid. I mostly apply on the 2nd day so I don't know the exact timing.

4- Both bank save ASBA detail. You have to register for 1st time then you can select the registered account.

5- Indus net-banking doesn't require otp to login but require otp for ipo bidding.Yes bank require otp for login and also for ipo bidding, yes bank require otp for everything and the otp have time limit of 100 seconds in yes bank .

6- Indus allow ipo bidding only through their net banking.
Yes bank allow ipo bidding through thier Yes Online app , but it will promote you to the yes iris app which doesn't have the feature to bid on the app. So you have to bid through thier net-banking.

Hope this clears your doubts.

​@Scube Thank you very much sir for your valuable information. Based on your input, i went ahead and opened a HUF savings account with MAB 10k. Will probably look to open trading account

Hi @BR Groot and all,

Is it ok to open HUF only for IPO apply?

​@Pangaj Don't be like me If you are married and have a kid you can open one.

Thanks @BR Groot  for the info.
Do we need to file ITR for HUF even it income in less than exemption limit?

​@Pangaj Don't be like me  You have to check with your auditor on this. My auditor mentioned any amount going into HUF bank account will be considered as an income and taxable. More details on HUF please contact your auditor

​@BR Groot So when we got ipo (applied through activ money) the money get debited through activ money and we didn't get any fd interest right?

​@Dev Agarwal yes, the IPO allotment money that got debited from your activ money fd will not get the full 7% but will get interest as per savings bank account slabs for the duration held. You can check kotak fd rates table, its the same for activ money i believe

​@BR Groot Thnks for explaining sir

​@BR Groot I had one query, are they still opening Regular Savings account in ICICI bank?

​@Henry Avery I donno about your location, but in chennai the staff at branch said they dont open any regular savings account (10k min balance) also. They say the reason as regular savings account "kit" is unavailable at any branch chennai. But you can open regular savings account online. HUF cannot open online. Hence i opened mine in YES bank

​@BR Groot Thanks for sharing. Facing the same issue in my city with ICICI. Going to contact yes bank tomorrow.

Do you have any suggestion which account shall I open in yes bank? (For an individual) + Get the benefits of auto sweep facility.

Real estate company dont react on revenue numbers posted in P&L. It depends on pre sales, collection, increase in volume and price and GDV

​@Bala murali 
I Had The Same Thoughts

I have Verified the Numbers
They Are Genuine

Instead Kalpataru in on verge of bankruptcy....Cash trapped company...Being Ex auditor, cannot disclose details....One of my friend was employee of kalpataru and salary of last 3 months is pending....from that you can judge that company....ipo of that company is coming, so beware of that company...