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FAQ

10. Flexi-SIP Portfolio

1) What is Flexi SIP?
2) What are the advantages of Portfolio SIP?
3) What is the cost of setting up a Flexi SIP Portfolio?
4) How do I make my investments?
5) Can I register ECS through any bank?
6) How long will the ECS approval take?
7) Is there a limit to the maximum amount?
8) Do I have to utilize the entire amount of the ECS mandate?
9) Will this facility be available for all funds?
10) Is there any limit on the number of funds that can be selected?
11) When can I add funds to my portfolio?
12) Will I be stuck with the funds once I have selected them?
13) When will the SIPs start?
14) Do I need to keep registering for an ECS mandate whenever I apply for a new fund?
15) When will the amount get deducted from my bank account for the SIPs?
16) What will be the SIP subscription dates?
17) Who will debit the amount from my bank account?
18) Can I change my bank mandate or any detail mentioned in the ECS mandate once registered?
19) Can I keep the ECS mandate but terminate my SIPs before the tenure?
20) Can I change the selected funds or the amount being invested during an ongoing Flexi SIP tenure?
21) What happens if I don't have sufficient balance in my bank account on the due date?
22) If the payment does not get processed for a particular transaction, how will I be informed?
23) What's the turnaround time for terminating my Flexi SIP?


Q: What is Flexi SIP?

A: The Flexi-SIP Portfolio is like a regular SIP where specific amounts will be invested on specific dates for a chosen period. This fixed amount is used to buy units at the NAV prevailing on the date of investment. Since a fixed amount is invested, more units are bought when the price is low and fewer units are bought when the price is high. The main benefit of a Flexi-SIP Portfolio is that the ECS mandate is registered for a maximum amount and for a maximum tenure. Within this tenure and amount, you can add or delete funds, change the SIP amount and dates.
 
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Q: What are the advantages of Portfolio SIP?

A: -Disciplined investing on an ongoing basis
-The advantage of rupee cost averaging
-No need to register an ECS mandate for each fund
-Add and delete funds
-Pause and edit your portfolio
-Add as many funds and increase the SIP amount till you reach the maximum limit of your ECS mandate
-Immediate SIP registration
-Amazing flexibility
-Greater control over finances
 
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Q: What is the cost of setting up a Flexi SIP Portfolio?

A: Right now, it is absolutely free.
 
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Q: How do I make my investments?

A: You have to give us an ECS mandate and the amount will be directly debited from your bank account.
 
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Q: Can I register ECS through any bank?

A: You can register with any bank that participates in the ECS clearing cycle. You will not be able to do so with those banks that take more than 1 day for clearance of funds. In order to adhere to our payment timelines with the AMCs, we cater to only those locations where the clearance of funds can be done in a day.
 
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Q: How long will the ECS approval take?

A: You will have to submit the filled ECS mandate form to us along with a self-attested photocopy of a cancelled cheque. On receipt, we will hand it to your bank for approval. The ECS approval process may take up to 35 business days. Once the ECS is approved and registered we shall inform you about it via email.
 
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Q: Is there a limit to the maximum amount?

A: The ECS mandate starts at Rs 10,000 with no upper limit.
 
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Q: Do I have to utilize the entire amount of the ECS mandate?

A: No, it's not at all mandatory. You decide an amount for your ECS mandate and then you have total freedom, flexibility and convenience up to this limit. Let's say your ECS bank mandate is set at Rs 10,000. You can start an SIP of just Rs 500. What it means is that in the future, you can continue with SIPs right up to Rs 10,000 with no effort on your part at all.
 
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Q: Will this facility be available for all funds?

A: Yes.
 
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Q: Is there any limit on the number of funds that can be selected?

A: No. You can select as many funds as you wish as long as the total SIP amounts in your portfolio is within the maximum limit as specified in your ECS mandate.
 
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Q: When can I add funds to my portfolio?

A: You can add funds to your Flexi-Sip Portfolio as soon as you register the ECS mandate.
 
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Q: Will I be stuck with the funds once I have selected them?

A: Not at all. You can terminate the SIP in any fund, anytime.
 
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Q: When will the SIPs start?

A: Once your ECS mandate is approved for Flexi-SIP, the SIPs will start within 7 working days.
 
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Q: Do I need to keep registering for an ECS mandate whenever I apply for a new fund?

A: No, you do not have that bother at all. Once you have registered an ECS mandate for your Flexi-SIP Portfolio, you can invest in however many funds you want. You can keep adding funds in your portfolio till you touch the maximum limit of the ECS mandate.
 
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Q: When will the amount get deducted from my bank account for the SIPs?

A: The amount will be debited one business day prior to your SIP date. If the previous day is a non-business day, then the amount will be debited on the prior business day.
 
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Q: What will be the SIP subscription dates?

A: The dates will be the 1st, 7th, 10th, 14th, 21st, 25th or 28th of each month, or next business day if the said date is a non-business day. The deduction will take place one business day before the SIP subscription date.
 
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Q: Who will debit the amount from my bank account?

A: As mentioned in the ECS mandate, you (the customer) are authorizing the payment gateway of iFAST Financial India Pvt Ltd to debit the amount from the bank account updated in the ECS mandate.
 
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Q: Can I change my bank mandate or any detail mentioned in the ECS mandate once registered?

A: No. Once the ECS mandate is registered you cannot make changes. However, you can terminate the existing mandate by sending an email from your registered e-mail ID to clienthelp.in@fundsupermart.com. Once you terminate the existing ECS mandate, all systematic investments in the funds in your portfolio will also stop.
 
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Q: Can I keep the ECS mandate but terminate my SIPs before the tenure?

A: Yes, you can.
 
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Q: Can I change the selected funds or the amount being invested during an ongoing Flexi SIP tenure?

A: Yes. You can change details like the funds selected, the amount and the installment dates by terminating the existing fund SIP and then renewing it. All the modifications will be done within 7 working days.
 
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Q: What happens if I don't have sufficient balance in my bank account on the due date?

A: If there is insufficient balance in your account to complete the SIP, then the transaction for that fund will fail. After three consecutive SIP transaction failures for a particular fund, the SIP for that fund will get auto-terminated.
 
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Q: If the payment does not get processed for a particular transaction, how will I be informed?

A: You will be informed via e -mail. If the transactions fail for two consecutive months, you will receive a reminder e-mail informing you about the same. Should the third SIP deduction be unsuccessful, the SIP for that particular fund will be auto-terminated.
 
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Q: What's the turnaround time for terminating my Flexi SIP?

A: On receipt of the request, it takes 10 working days for the Flexi SIP to get terminated.

NAV: Net Asset Value / ECS: Electronic Clearing Service / AMC: Asset Management Company / SIP: Systematic Investment Plan
 
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