1. What is Invest Online?
Invest online is a secure online transaction facility offered on our website -www.motilaloswalmf.com whereby investors can login, view portfolio and transact online.
2. I am an existing investor with you. However, I have invested in your schemes in physical mode. Can I transact online with you?
Yes, you can. All you need to do is submit your PAN and an OTP will sent to your Email ID & Mobile number registered with us. With that you can log into invest online.
In case if you are a Joint holder in any of the Folios you can view and transact in the portfolio.
3. I am a new investor and not invested in your schemes even though I have invested with other Mutual Fund House. Can I transact online with you?
Yes, you can invest online if you are a KYC complied investor. All you need to do is visit the Motilal Oswal MF website and click on invest online and proceed.
4. Are there any document / agreement required to open an Online Transaction account?
There are no documents required to transact online if you are KYC compliant.
5. How will I know that I am KYC complaint?
You can visit www.cvlkra.com/kycpaninquiry and check whether you are KYC compliant or not by using your PAN number.
6. What are the features available in the online portal?
Invest online enables you to Purchase, Redeem, Switch, STP, SWP and also cancel the ISIP online. You also have the provision to view the portfolio and request for the account statement.
7. Can I settle my investments online through Invest Online? If so which banks are allowed?
Yes. You can settle your transactions online through Online payment mode. The below banks are enabled for online banking
- Allahabad Bank
- Andhra Bank
- Andhra Bank Corporate
- Andhra Pragathi Grameena Bank
- Axis Bank
- Axis Bank Corporate
- Axis Bank Debit card
- Bandhan Bank
- Bank of Bahrain and Kuwait
- Bank of Baroda- Retail
- Bank of Baroda-Corporate
- Bank Of India
- Bank of Maharashtra
- BOB Debit Card
- BOI Debit Card
- BOM Debit Card
- Canara Bank
- Canara Bank Debit Card
- Catholic Syrian Bank
- Central Bank of India
- City Union Bank
- Corporate Punjab National Bank
- Corporation Bank
- Cosmos Bank
- Dena Bank Net Banking
- Deutsche Bank
- Development Credit Bank
- Dhanlakshmi Bank
- DIGI Bank
- Equitas Bank
- Federal Bank
- Fincare Small Finance Bank Ltd
- HDFC Bank Limited
- HDFC UPI
- ICICI Bank
- IDBI Bank
- IDFC Bank Debit card
- IDFC Bank Netbanking
- Indian Bank
- Indian Overseas Bank
- Indusbank Debit card
- Indusind Bank
- IOB Debit Card
- Jammu & Kashmir Bank Limited
- Janata Sahakari Bank
- Kalupur Cooperative Bank
- Karnataka Bank
- Karur Vysya Bank Limited
- Kerala Gramin Bank Debit card
- Kotak Mahindra Bank
- Lakshmi Vilas Bank Retail
- NKGSB Bank
- ORIENTAL BANK OF COMMERCE
- Pragathi Krishna Bank
- Pragathikrishna Bank Debit card
- Punjab & Maharashtra Co-op Bank
- Punjab and Sind Bank
- Punjab National Bank
- Rajasthan State cooperative Bank Debit card
- Ratnakar Bank
- Rupay Card
- Saraswat Bank
- SCB Net Banking
- Shamrao Vithal Co.Operative Bank Ltd
- Shivalik Bank Debit card
- South Indian Bank Ltd
- State Bank of India
- Syndicate Bank
- Tamilnad Mercantile Bank Ltd
- TJSB
- TNSC Bank
- UBI Debit Card
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
- YES Bank
8. Can I use Debit card for online transaction?
Yes, you can use all VISA/Master and Rupay debit cards issued in India.
9. Can I use Credit card for online transaction?
No, Credit cards cannot be used for online purchase of Mutual Fund Schemes
10. Is there any limit in the investment amount for online transaction?
There is no limit specified by Motilal Oswal Mutual fund for online transactions. However certain banks maintain transaction limits in their net banking and the same varies from bank to bank.
11. Which browser can I use to transact online?
Our website is compatible with IE 10+, Mozilla Firefox 31.0+ , Google Chrome 30.0+ , Opera 22.0+ and Safari 5
12. Can I use my Mobile or Tab to transact online?
Yes, our website is built on HTML 5 platform and adapts into any size of your mobile to give you optimal viewing experience like a Mobile App.
13. Is transacting through Transact Online safe?
Yes! Motilal Oswal Mutual Fund website uses SSL technology to ensure that the information transmitted between you and us across the internet is safe and secured. Secure Sockets Layer (SSL) is a common and the most effective protocol for sending confidential information securely over the Internet. SSL works by using a private, mathematical key to encrypt (or scramble) data that's transferred between your Web browser and the website you're visiting. This Digital Security certificate has one 128-bit encryption level and is obtained from VeriSign (Safe script).
14. List of schemes available for online transactions
All schemes of Motilal Oswal Mutual Funds expect ETF.
15. Can I use both your website and the physical mode (submitting a transaction slip at a branch) for transacting for the folio created or transacted online?
Yes. You can transact both offline and online for the folios either created or transacted online.
16. Will I be charged for availing this facility?
No. The Online facility is being offered free of cost to the investors.
17. What is the NAV applicable for my transaction submitted through Invest Online?
The transactions submitted are processed based on the transaction time and fund realisation.
Note:
- Although your bank account may get debited instantaneously against this transaction, the funds may not be received in the scheme's account the same day. This time lag is due to settlement and reconciliation mechanism which is common to all MF's. This may impact the allotment of NAV especially for amount Rs. 2 lacs and above and in Liquid Funds, irrespective of the amount.
- The Fund has entered into a direct credit tie-up with 4 banks namely, HDFC Bank, ICICI Bank, and Axis Bank For monies routed through any of these banks, the scheme receives credit immediately which is beneficial in cases where NAV applicability is based on realisation.
18. What acknowledgment do I receive for my transactions?
An instant transaction confirmation will be sent to your e-mail ID and mobile number registered with us. Once your transaction is processed, you would receive an account statement via e-mail and SMS
19. Can I change my address and bank mandate using your website?
For security reasons the change of address or bank details cannot be submitted through our website. With regard to address updation, investor will have to visit the KRA and submit the new address along with the supporting proof as AMC will replicate the address from the KRA records only. For change in bank mandate you would need to submit a physical request for the same along with request letter and cancel cheque copy of the old and new bank.
20. What information I can view through online facility?
You can view your portfolio, capital gains, if any, last 5 transaction and performance of your scheme with the scheme benchmark
21. Can I link my Aadhaar Number through online facility?
Yes. You can link your Aadhaar Number in your online access. You have to provide your PAN to proceed for linking Aadhar Number.
For an Existing investor there is a link given in the login screen for linking the Aadhar. A new investor has been given a provision in the invest online to enter his Aadhar details during the transaction.
On entering the details the system will connect to the RTA page for necessary updation and validation.
22. Can I use UPI facility for online transaction?
Yes, you can use the UPI facility. Here is a list of UPI enabled banks. Customers of these banks can link their bank account by just setting a UPI PIN.
- HDFC Bank LTD
- Allahabad Bank
- Andhra Bank
- Apna Sahakari Bank Ltd.
- Axis Bank Ltd
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Catholic Syrian Bank
- Central Bank of India
- City Union Bank
- Corporation Bank
- DBS Bank Ltd
- DCB Bank Ltd
- Dena Bank
- Equitas Bank
- Federal Bank
- HSBC Bank
- ICICI Bank
- IDBI Bank Ltd
- IDFC Bank
- INDUSIND BANK
- Indian Bank
- Indian Overseas Bank
- Jammu and Kashmir Bank
- Janata Sahakari Bank Ltd
- Karnataka Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- Lakshmi Vilas Bank
- Mehsana Urban Bank
- Oriental Bank of Commerce
- Punjab National Bank
- Punjab and Maharashtra Bank
- Punjab and Sind Bank
- RBL Bank
- Saraswat Bank
- South Indian BanK
- Standard Chartered
- State Bank Of India
- Syndicate Bank
- TJSB Bank
- Thane Bharat Sahakari Bank Ltd
- UCO Bank
- Union Bank of India
- United Bank of India
- Vasai Vikas Sahakari Bank Ltd
- Vijaya Bank
- Yes Bank
1. What is an iSIP?
iSIP is an online paperless systematic investment plan (SIP) for both existing and first time investors in Motilal Oswal Mutual Fund. You can start a SIP in our Mutual Fund Schemes at your convenience using electronic device namely mobile, laptop at your convenience.
2. What are the details I need to provide for iSIP?
In case if you are a new investor and already KYC complied, then you have to provide your PAN, bank account, additional KYC and FATCA details, contact information and SIP details for online registration
If you are an existing investor, you have to select your KYC complied folio and provide SIP details for registration.
3. How I will inform my bank about the SIP registration to ensure monthly instalments are debited from my bank account on instalment dates?
On successful completion of iSIP registration, we shall provide you a Unique Registration Number (URN). This URN has an expiry date for security reasons and you have to register this number with your bank under “Utility BillPay” option within 7 days. Successful registration of URN will enable monthly instalments are debited from your bank account. In case the URN has failed to register on the banker page and expired then a new iSIP registration request has to be submitted.
4. What is a URN?
Unique Registration Number (URN) is generated for every iSIP you register with us which comes with the validity of 7 calendar days from the date it is generated on our website.
5. How to register a URN at bank’s site?
You have to register the URN similar to how you currently include your utility bills with your bank for online payment, such as Mobile, Electricity, MTNL, Gas, etc.
You have to login to your bank’s website and register Motilal Oswal Asset Management as a biller under BillPay option along with the exact URN allotted to you, by selecting our name and registering it as a biller. At the time of registration you will be asked for the mode of payment depending upon the bank you are registering with.
6. Can I register the iSIP through any bank?
You can register through any of the below listed banks. However, you need to have online access with your bank to avail this facility.
Aditya Aarthik Niyojan Co. Operative Credit Society Ltd
- Andhra Bank
- Axis Bank
- Bank of Baroda
- Bank of Maharashtra
- City Union Bank
- Corporation Bank
- Development Bank of Singapore (DBS)
- Dhanalakshmi Bank
- quitas Small Finance Bank
- Federal bank
- FIRSTRAND BANK
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IDFC Bank
- Indian bank
- Indian Overseas Bank
- IndusInd Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- Lakshmi Vilas Bank
- Ratnakar Bank
- Saraswat Bank
- South Indian bank
- State Bank of India
- UCO Bank
- Union Bank of India
- Yes Bank
7. Whether the URN registered after the expiry date will be valid?
If you register the URN at your bank beyond the stipulated time limit determined by the AMC, the URN gets expired at the AMC’s end. New SIP has to be registered to generate the new URN.
8. What are the reasons for a URN registration not being successful at the bank’s end?
If you register an incorrect URN at bank’s end, the same will be rejected at bank’s end.
9. What type of account do I need to avail of the iSIP facility?
You can invest through a current or savings account held with the registered banks. NRI require to hold the NRO/NRE account to invest. This facility is not applicable for USA and Canada investors.
10. What are the modes of payment available at bank’s end for iSIP?
Below are the two types of payment options available at bank’s end for iSIP
Auto-pay mode:
If you opt for this mode, the SIP amount will be debited automatically on the due date provided your account has sufficient balance.
View and pay mode:
If you opt for this mode, you have to login in and schedule the payments failing which the bill gets expired and this is termed as Failure due to funds not received from your bank.
We strongly recommend you to select Auto-Pay mode to enjoy the uninterrupted wealth creation journey else you have to do this manually every month with the other option.
11. Can the payment option be changed during the tenure of the SIP?
Yes. You can switch the payment option at any point of time. This change will come into effect for the next instalment instruction getting uploaded in your bank account. If any transaction is pending at the time of option change, the change will not come into effect for the pending transaction. In short, the change has to be done by you before the transaction gets posted in your bank account.
12. What are the possible reasons for failure of a transaction, if the registration is under an Auto-pay option?
- a. The primary reason could be insufficient balance at the time of debit.
- b. Few banks provide the facility of setting up an auto-pay limit to its customers and if this is not within the limit of the transaction amount, the transaction gets failed. Banks send notification for such cases to you.
- c. Technical issues at bank’s end at the time of debiting the amount from your account.
13. What are the possible reasons for failure of a transaction for View and Pay option?
- a. You forgot to authorize the transaction within the stipulated time resulting in the bill getting expired.
- b. Not having sufficient balance at the time of authorizing payments.
- c. Technical issues at bank’s end at the time of debiting the amount from your account.
14. Can I keep track of my transactions debited for the iSIP in my bank?
Yes. You can track in the Bill History option provided by your bank.
15. How can I discontinue/cancel my iSIP/SIP?
SIP if registered offline, for cancellation a physical request is required to be submitted to KARVY/AMC branches.
iSIP registered online on the website shall be cancelled any time by deleting the URN registration under the Utility Bill Pay option in your bank and also the investor can login on the AMC website and place the cancellation request.
16. How to invest in iSIP?
For new investors:
- Submit your PAN and Applicant Details
- Provide KYC & FATCA Details
- Select your scheme SIP Amount, SIP Date and the Duration/Period for which you would like to invest in scheme detail
- On Submission a Unique Registration Number (URN) will be generated for that particular transaction
- Register the URN with your bank on or before the expiry date of URN
For Existing investor:
- Submit your PAN and OTP shared to your registered Mobile/email ID
- Select your Folio, scheme SIP Amount, SIP Date and the Duration/Period for which you would like to invest in scheme detail
- On Submission a Unique Registration Number (URN) will be generated for that particular transaction
- Register the URN with your bank on or before the expiry date of URN
17. Can I check my SIP registration status on the website ?
Yes, investor will be in a position to check the status of the SIP in his/her login. The information will be displayed in the summary and the same will be available in the reports menu as SIP registration details.
1. What is CKYC- Central KYC Registry?
It is a centralised repository of the KYC records of the customer in the financial
sector with the uniform KYC norms and inter-use ability of the KYC information across
all the Financial Institution.
2. What are the salient features of the CKYC?
a.Unique KYC identifier linked to independent ID proof.
b.All the investor information is central maintained in a digital form.
c.Secure and advance user authentication mechanism given to Mutual funds and Intermediaries
for seeking the investor information across all financial sectors.
d.No duplication of data will be stored in the CKYCR system.
3. When should the investor submit the CKYC form?
In an ideal scenario, KYC should be complete before the client is on-boarded in
the system. As per Prevention of Money-laundering (Maintenance of Records) Amendment
Rules, 2015, Rule 9 (1A), every reporting entity shall within three days after the
commencement of an account-based relationship with a client, file the electronic
copy of the client's KYC records with the Central KYC Registry.
4. Documents required for completing the CKYC process?
The investor is required to submit any of the following documents for ID proof and
same is required to be shown to the AMC for verification.
a.Passport
b.Voter ID
c.Driving License
d.Aadhar Card
e.NREGA Job card
f. Any central govt document along with the identification no.
The following are the list of documents required to be submitted for address proof?
a.Passport
b.Voter ID
c.Driving License
d.NREGA Job Card
e.Any central govt document along with the identification no.
Note: For all investments in Mutual Fund, PMS and AIF; PAN is a mandatory.
5. List of the people authorised to attest the documents after verifying the originals?
a.Authorised officials of Asset Management Companies (AMC).
b.Authorised officials of Registrar & Transfer Agent (R&T) acting on behalf of the
AMC.
c.KYD compliant mutual fund distributors.
4. Notary Public, Gazetted Officer, Manager of a Scheduled Commercial/Co-operative
Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed
on the copy along with date).
d.In case of NRIs, authorized officials of overseas branches of Scheduled Commercial
Banks registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy/
Consulate General in the country where the client resides are permitted to attest
the documents.
6. Government authorised officials who are empowered to issue Apostle Certificates.
6. Is IPV compulsory in CKYC?
As per CERSAI guidelines IPV is not mandatory, but as per the existing laws/ regulations
laid down under the KRA Regime its mandatory unless the same is revoked/ called
back by the Regulators. As on the date of the document, same will remain mandatory
in AMC industry. This is also a required for re-routing the KYC Applications through
KRA until process at CERSAI is streamlined.
7. List of people who can do the IPV?
a.Authorised officials of Asset Management Companies (AMC).
b.Authorised officials of Registrar & Transfer Agent (R&T) acting on behalf of the
AMC
c.KYD compliant mutual fund distributors.
d.Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks
(for investors investing directly).
e.In case of NRI applicants,a person permitted to attest documents, may also conduct
the In Person Verification and confirm this in the KYC Form.
8. If the investor is already CKYC compliant do they have to submit new CKCY forms?
If an investor is already a KYC complaint as per the KRA guidelines, then they are
required to fill the “CKYC Supplementary Form” to comply with the additional data
requirement as per the CKYC guidelines.
9. If an investor is a KRA KYC complaint and not a CKYC complaint will the additional
purchase/Fresh purchase be rejected by the AMC?
AMC will not reject the transaction. However such investor will be informed to fill
the supplementary CKYC form either online or through any of the AMC/RTA branches
10. Will the investor get any communication for the supplementary KYC updated?
Yes. The investor will get an SMS and an email confirmation to his registered email
id and mobile no once the same is registered with the CKYC both for successful submission
and also once the CKYC reference no is received from the CKYC
11. Is supplementary CKYC mandatory for folio(s) in demat mode?
Yes. The investor has to get in touch with the source financial institution in this
regard and do the needful.
12. What are the modes in which the investor can do his supplementary KYC?
The investor can visit any of the nearest AMC location or KARVY RTA and submit his/her
supplementary KYC form.
13. Does the investor have to do CKYC formalities multiple times?
The investor is required to do the formalities only once with anyone of the financial
institutions. For any future investment, investor is required to quote only the
KIN (CKYC reference number) received from CERSAI.
14. If an investor is holding a KIN – KYC identification number, is he still required
to do fill the CKYC forms again?
No. AMC will take the KYC information from CERSAI based on the KIN no. Provided
he is tagged as “Normal KYC” complaint investor under CKYC norms.
15. Can an investor with PAN exempt apply for CKYC?
Yes.
16. In case of a folio maintained in joint holding does all investor have to be
CKYC complaint ?
Yes, w.e.f Feb 1,2017 all holders have to be CKYC compliant. Existing KRA complaint
investors will also have to submit the CKYC supplementary forms within the time
lines that will be specified by the AMC. Separate communication will be triggered
in this regards.
17. In a joint holder folio if one holder is KRAKYC complaint and the other is CKYC
complaint will the transaction be processed or rejected by the AMC?
With effect from 1st Feb 2017, all new investors have to be mandatorily CKCYC compliant
and all the holders in the folio have to be CKYC complied. AMC will not reject the
application if KRAKYC compliant is submitting supplementary CKYC form along with
the application.
18. In case of investor submitted the KYC form however the KYC status as per KRA
system is “Pending” or “Hold” or “Failed” then should the investor submit CKYC form
or supplementary CKYC form?
Investor whose KYC status is “On hold”/ “Under process”/ “In progress”/ “Rejected”/
”Pending” in the KRA records are required to fill up the New CKYC form to be CKYC
complied . Supplementary CKYC form will be used ONLY by the investors if they are
already “KYC- complained” as per the existing KRA guidelines
19. Do the investors need to update the information at the KRA and CKYC?
No. Investor will fill only the forms related to CKYC. AMC will update the same
at the KRA /CKYC end.
20. How many correspondence address can be updated in the CKYC?
If an investor is doing his CKYC formalities for the first time he is required to
provide the permanent address and correspondence address for communication. Later
if the investor wishes to add more communication (specify to type of communication
based on the financial institution) he is required to submit the separate form provided
by CKYC for local address updation.
1. What is One Time Mandate (OTM) facility of Motilal Oswal Mutual Fund?
It is a one - time registration process where you authorize your bank to execute debits to your bank account up to a certain specified limit, as and when you invest with MOTILAL OSWAL MUTUAL FUND without having to initiate payment through any other mode from your end.
2. How do I register for OTM facility if I’m an existing investor?
In case you are an existing investor, you need to fill and submit the 'OTM debit Mandate Form' to any of our Investor Service Centre identified as Official Point of Transaction acceptance of MOTILAL OSWAL MUTUAL FUND.
3. How much time will it take to register for OTM facility?
The turn-around time of registering OTM facility is 30 working days from the date of submission.
4. I already have a folio. Which forms do I need to submit to register for OTM facility if I choose to invest in SIP or additional purchase?
If you are an existing investor having valid folio, you have to submit the SIP registration form along with the OTM registration Form /additional purchase transaction request cum OTM registration from for additional purchase.
5. I have already registered for OTM facility. Which form do I need to submit to start an SIP?
As you have already registered for OTM facility, you only need to submit the physical SIP registration form mentioning the UMRN number provided by the bank based on the OTM registration.
6. How many SIPs can I register through the OTM facility?
There is no cap on the number of SIPs that can be registered through the OTM facility. However, the sum total of your various SIP instalments in a day should not be more than the amount limit mentioned in the OTM form at the time of registration.
7. How long does it take to register new SIPs through the OTM facility?
Once the OTM facility is registered in the folio, any new SIP registration request will be registered within 15 working days. However, if you submit the SIP registration request along with the OTM form, the SIP will be registered within 30 working days.
8. How will I be informed once the registration is completed?
Once the OTM facility is registered in your folio, email/SMS/written intimation will be sent to the registered address maintained in the folio. In addition, the OTM registered will be activated, on receipt of successful registration confirmation of the mandate from your banker, The OTM activation will also be informed similar to the registration.
9. Is there any transaction limit for the OTM facility?
Yes. You can specify the limit in the amount field on the OTM form. This limit is a daily limit on the maximum amount that you can to invest on any given day.
10. What are the various types of transactions submitted under OTM facility?
This Facility would enable for starting a Systematic Investment Plan (SIP) or invest lump sum amounts for additional purchase in any of the Motilal Oswal Mutual fund through offline or any other mode as enabled by AMC from time to time. The payment towards your investment will happen directly through your bank account based on your defined limit on the OTM form and you need not submit a cheque/ DD every time/transfer funds online.
11. Is this facility available for all schemes of Motilal Oswal Mutual Fund?
This facility is available for Equity &Debt Schemes and not for ETF scheme of Motilal Oswal Mutual Fund.
12. Is there any upper or lower limit for transacting through the OTM facility?
The only upper limit is as mentioned in the OTM form. The limit in the OTM form is your daily limit for transactions through any mode. The lower limit applicable is the minimum purchase/SIP amount in the respective plan/ option of the Schemes of the Fund as defined in the Scheme Information Document (SID).
13. How do I make an additional investment through the OTM facility?
At the time of submission of additional purchase transaction all you need to do is provide the UMRN no. in the application form.
14. How do I cancel my registration for OTM facility?
You can request for cancellation of the OTM facility by submitting the physical request in this regard to Motilal Oswal Mutual Fund. It will take about 15 working days for the cancellation.
15. What are the critical details should be filled in the One Time Mandate form?
Investor needs to fill the below key information:
1. Date
2. Select the Bank account Type.
3. Provide complete Core Banking System Bank account.
4. Bank Name with which the bank account is held.
5. IFSC / MICR code of the bank with which the account is held.
6. Upper limit of the Amount that can be debited from the account against transaction.
7. Folio number.
8. Contact details of the investor.
9. Period for which the mandate need to be registered.
10. Signatures and Names of all the account holders as per mode of holding in the bank.
16. Is the OTM mandate registration at a scheme level or at Folio level?
The OTM mandate Registration would be at Folio Level.
17. If an investor has multiple bank accounts registered, should he/she register multiple OTM mandates?
Investors should sign an OTM mandate form for the bank account which he would want to debit for his investments in schemes of Motilal Oswal Mutual Fund. OTM mandate is an agreement between Investor, his/her Bank and Motilal Oswal Mutual Fund mandating Fund to debit the investor bank account based on investor request.
18. Does the investor need to have an account with specific bank only to register for OTM facility?
The OTM facility is not restricted to a particular bank/ branch/ location. As long as a bank is participating in the NACH system, investors can register OTM facility for any of the bank branches. For updated list of banks eligible for OTM Facility please refers to http://www.npci.org.in/home.aspx Product & Services Tab -> National Automated Clearing House Drop Down -> Live Bank Drop Down.
19. Is there a frequency of debit for OTM mandate registration?
We are offering only one option as frequency - ‘As and when presented’. This would enable any time debit and allow the investor to perform both Lump-sum and SIP.
NACH offers to select the frequency of debit - Monthly, Bi-Monthly, Quarterly, Half-Yearly, Yearly and ‘As and when presented’. However, in all these options except when ‘As and when presented’ is selected the debit cannot be done beyond the specified frequency. Hence, if an investor, who has selected ‘Monthly’ as frequency, has a SIP running and wants to make second purchase in the same month then the investor would not be able to do so as his/her bank would reject this transaction. This would cause inconvenience to the investor. Therefore, we are offering only one option as frequency - ‘As and when presented’.
20. Is there a validity period for OTM Mandate Form?
Yes, OTM Form (NACH Form) has a validity period till 31/12/2099.
21. Under what circumstances does an OTM form get rejected?
An OTM form gets rejected if the investor has provided an incorrect bank account, folio number or other incorrect details. It also gets rejected if the investor’s bank is not participating in NACH. Please visit the website http://www.npci.org.in/clearing.aspx for updated list of banks eligible for NACH Facility.
22. What will be the applicable NAV for the transaction?
The applicable NAV for the transaction will be dependent on various factors under provisions of SEBI (Mutual Fund) Regulations, 1996 like receipt time of the Physical form; the scheme, the type of transaction, and in case of investments of Rs Two Lakhs or more, the date & time of realization of funds. All transactions under OTM facility will be treated on par with similar transactions received through any other modes.