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FAQ

02. Account Opening

1) Which categories of investors can open an account with Fundsupermart.com?
2) Can foreign citizens open an account?
3) What is the process to open an investment account?
4) Are there any charges for opening an investment account or maintaining it?
5) What are the documents required to open opening an account?
6) What are the documents acceptable for address proof?
7) Regarding NRIs, is there any country restricted from investing in mutual funds in India?
8) How can I send my documents to Fundsupermart.com?
9) In case my account gets voided, how can I open the account again with Fundsupermart.com? Or, how can I get the account activated?
10) How will I know the status of my account opening?
11) Do I need to have an account in a particular bank to transact on Fundsupermart.com?
12) Which are the banks available for corporate net banking?
13) Can I make payment through demand draft or a cheque payment?
14) How many accounts can I open with Fundsupermart.com?
15) How do I open an additional account with Fundsupermart.com?
16) Will I have different IDs for the multiple accounts I have with Fundsupermart.com?
17) Do I have to invest a fixed amount every time?
18) What are the features available on your forum?
19) How do I register to participate in the forum at Fundsupermart.com?
20) Can my forum account be closed or barred?


Q: Which categories of investors can open an account with Fundsupermart.com?

A: 1.Resident individual
2.Sole proprietor
3.Corporate investor
4.Society
5.Trust
6.Partnership firm
7.Hindu Undivided Family (HUF)
8.Minor
9.Non Resident Indian (NRI)
10.Person of Indian Origin (PIO)
11.Overseas Citizen of India (OCI)
 
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Q: Can foreign citizens open an account?

A: No, a foreign citizen cannot open an account with Fundsupermart.com.
 
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Q: What is the process to open an investment account?

A: 1.Complete the online account opening process (select account type -> fill form -> confirm details)

2.Send us a printed copy of the form (which will be sent to you via email once you complete the online account opening process), and mandatory documents that are necessary to verify your ID, bank details, address details, etc

3.Login to your account to access the benefits of your FSM online account once you receive our e-mail confirming that your account has been activated
 
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Q: Are there any charges for opening an investment account or maintaining it?

A: No, there are no charges for opening or maintaining the account. It is a completely free-of-charge platform for investors.
 
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Q: What are the documents required to open opening an account?

A: Please click here to view the list of Documents required for opening an account.
 
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Q: What are the documents acceptable for address proof?

A: -Passport/ voters identity card/ ration card/ registered lease or sale agreement of residence/ driving license/ flat maintenance bill/ insurance policy copy

-Utility bills not older than 3 months on the date of submission: telephone (land line), electricity, gas

-Bank account statement/ passbook not more than 3 months old as on date of submission)

-Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts

-Proof of address issued by any of the following: bank managers of scheduled commercial bank/ scheduled co-operative bank/ multinational foreign bank/ gazetted officer/ notary public/ elected representatives to the legislative assembly/ parliament/ documents issued by any government or statutory authority

-Identity card/document with address issued by any of the following: central or state government and its departments, statutory/regulatory authorities, public sector undertakings, scheduled commercial banks, public financial institutions, colleges affiliated to universities and professional bodies such as ICAI, ICWAI, ICSI, Bar Council etc. to their members The proof of address in the name of the spouse is accepted along with relationship proof
 
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Q: Regarding NRIs, is there any country restricted from investing in mutual funds in India?

A: A few mutual fund houses restrict US and Canadian investors from investing into the schemes of their AMCs. The mutual fund houses that restrict NRIs residing in the US and Canada from investing in their funds are:

-Baroda Pioneer Asset Management Company Limited
-Birla Sun Life Asset Management Company Limited
-BNP Paribas Asset Management India Private Limited
-BOI AXA Investment Managers Private Limited
-Canara Robeco Asset Management Company Limited
-Deutsche Asset Management (India) Pvt. Ltd.
-DSP BlackRock Investment Managers Private Limited
-Edelweiss Asset Management Limited
-Franklin Templeton Asset Management (India) Private Limited
-Goldman Sachs Asset Management (India) Private Limited
-HDFC Asset Management Company Limited
-HSBC Asset Management (India) Private Ltd.
-ICICI Prudential Asset Mgmt.Company Limited
-IDBI Asset Management Ltd.
-IDFC Asset Management Company Limited
-India Infoline Asset Management Co. Ltd.
-Indiabulls Asset Management Company Ltd.
-ING Investment Management (India) Pvt. Ltd.
-JM Financial Asset Management Private Limited
-JPMorgan Asset Management India Pvt. Ltd.
-Kotak Mahindra Asset Management Company Limited(KMAMCL)
-L&T Investment Management Limited
-LIC NOMURA Mutual Fund Asset Management Company Limited
-Mirae Asset Global Investments (India) Pvt. Ltd.
-Morgan Stanley Investment Management Pvt.Ltd.
-Motilal Oswal Asset Management Company Limited
-Peerless Funds Management Co. Ltd.
-PineBridge Investments Asset Management Company (India) Pvt. Ltd.
-Pramerica Asset Managers Private Limited
-Principal Pnb Asset Management Co. Pvt. Ltd.
-Quantum Asset Management Company Private Limited
-Reliance Capital Asset Management Ltd.
-Religare Invesco Asset Management Company Private Limited
-SBI Funds Management Private Limited
-Sundaram Asset Management Company Limited
-Tata Asset Management Limited
-Union KBC Asset Management Company Private Limited
-UTI Asset Management Company Ltd

You are advised to read the Offer Document/Scheme Information Document of the individual fund to confirm the above.
 
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Q: How can I send my documents to Fundsupermart.com?

A: Please post us the requisite documents at our office address mentioned below:

iFAST Financial (India) Pvt. Ltd
1, Raheja Titanium,
Off Western Express Highway,
Goregaon East,
Mumbai 400063

We do not accept the documents sent by e-mail. As per regulatory requirements, we require hard copies of application forms along with all the supporting documents.
 
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Q: In case my account gets voided, how can I open the account again with Fundsupermart.com? Or, how can I get the account activated?

A: While opening the account initially you would have received the PDF format of your online application form. You may send us the account opening application form along with the supporting documents. On receipt of all documents in good order, we will activate your account and send you an e-mail confirming that your account has been activated.

In case you don't have the PDF format contact us at clienthelp.in@fundsupermart.com or call our helpline number at +91 22 4219 9494 from 9.30 am to 5.30 pm on weekdays (excluding public holidays).
 
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Q: How will I know the status of my account opening?

A: On completion of the online account opening process, a welcome e-mail will be sent to you with the list of documents required along with the form. At this point, the status of your account is 'pending'.

Once we receive the form with the documents as per the requirements, your account status will be updated to "received". As per the SEBI circular dated August 12, 2010 (Cir / IMD / DF / 9 / 2010), the account opening application form and relevant document(s) will be forwarded to the Registrar and Transfer agent (R&T) for processing. On receipt of confirmation from the R&T, we shall revert to you within 7 working days regarding the status of your account.

If you are already KYC verified, on confirmation from R&T agent, your account will be activated and you can place your transaction(s).

As per SEBI guidelines, you will be able to place transaction(s) through your Fundsupermart.com account only once the KYC verification is completed. On successful KYC verification, a separate account confirmation email will be sent to you.

In case your KYC verification has been rejected by the KYC Registration Agency (KRA), as per SEBI guidelines you will not be permitted to carry out any transaction.

Check the reason for the KYC verification failure at the point of service where you had submitted the KYC form and re-submit a fresh application.

 
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Q: Do I need to have an account in a particular bank to transact on Fundsupermart.com?

A: At the time of purchasing funds, you will be directed to a payment gateway to process your payment for the fund purchase. The following banks are available on our platform for transaction:

-ALLAHABAD BANK
-ANDHRA BANK*
-AXIS BANK
-BANK OF BAHRAIN AND KUWAIT
-BANK OF BARODA
-BANK OF INDIA
-BANK OF MAHARASHTRA
-CANARA BANK
-CENTRAL BANK OF INDIA
-CITI BANK*
-CITY UNION BANK
-CORPORATION BANK
-DCB BANK
-DEUTSCHE BANK
-DHANLAXMI BANK
-FEDERAL BANK
-HDFC BANK
-ICICI BANK
-IDBI BANK
-INDIAN BANK
-INDIAN OVERSEAS
-INDUSIND BANK*
-ING VYSYA BANK
-J&K BANK
-KARNATAKA BANK
-KARUR VYSYA BANK
-KOTAK MAHINDRA BANK
-LAKSHMI VILAS BANK*
-ORIENTAL BANK OF COMMERCE
-PUNJAB & SIND BANK*
-PUNJAB NATIONAL BANK
-SHAMRAO VITHAL CO-OPERATIVE BANK LTD*
-SOUTH INDIAN BANK
-STANDARD CHARTERED BANK
-STATE BANK OF BIKANER AND JAIPUR
-STATE BANK OF HYDERABAD
-STATE BANK OF INDIA
-STATE BANK OF MYSORE
-STATE BANK OF PATIALA
-STATE BANK OF TRAVANCORE
-SYNDICATE BANK*
-TAMILNAD MERCANTILE BANK
-UCO BANK*
-UNION BANK OF INDIA
-UNITED BANK OF INDIA
-VIJAYA BANK
-YES BANK BROKING
* Banks available only for open-ended, non-liquid funds and with limited AMC's
 
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Q: Which are the banks available for corporate net banking?

A: -ALLAHABAD BANK*
-ANDHRA BANK*
-AXIS BANK*
-BANK OF BAHRAIN AND KUWAIT*
-BANK OF BARODA
-BANK OF BARODA CORPORATE*
-BANK OF INDIA
-BANK OF MAHARASHTRA
-BNP PARIBAS
-CANARA BANK*
-CENTRAL BANK OF INDIA*
-CITI BANK CREDIT/DEBIT CARD*
-CITY UNION BANK
-CORPORATE PUNJAB NATIONAL BANK*
-CORPORATION BANK*
-DEUTSCHE BANK
-DEVELOPMENT CREDIT BANK*
-DHANLAXMI*
-FEDERAL BANK
-ICICI BANK
-ICICI BANK*
-IDBI BANK*
-INDIAN BANK*
-INDIAN OVERSEAS BANK
-INDUSIND BANK*
-ING VYSYA BANK*
-JAMMU AND KASHMIR BANK
-KARNATAKA BANK*
-KARUR VYSYA BANK
-KOTAK BANK*
-LAKSHMI VILAS BANK CORPORATE*
-LAKSHMI VILAS BANK RETAIL*
-ORIENTAL BANK OF COMMERCE
-PUNJAB & SIND BANK*
-PUNJAB NATIONAL BANK*
-SHAMRAO VITHAL CO-OPERATIVE BANK LTD.*
-SOUTH INDIAN BANK LTD*
-STANDARD CHARTERED BANK
-STATE BANK OF BIKANER AND JAIPUR*
-STATE BANK OF HYDERABAD
-STATE BANK OF INDIA
-STATE BANK OF PATIALA*
-STATE BANK OF TRAVANCORE
-STATE BANK  OF MYSORE
-SYNDICATE BANK*
-UCO BANK*
-UNION BANK OF INDIA*
-UNITED BANK OF INDIA*
-VIJAYA BANK*
-YES BANK*

* Banks are available only for open-ended, non-liquid funds and with limited AMC's
 
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Q: Can I make payment through demand draft or a cheque payment?

A: You can only pay for your buy transactions online through net banking using the payment gateway.
 
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Q: How many accounts can I open with Fundsupermart.com?

A: -Resident and NRI (individual and joint accounts): on the same PAN you can have 4 accounts

-Corporate, HUF, partnership, society, trust: one account per PAN

-If you have an existing "Individual" account with us, you cannot open an additional "Individual" account but can open an additional joint account
 
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Q: How do I open an additional account with Fundsupermart.com?

A: -You can open additional accounts with Fundsupermart.com once your first account has been activated

-Go to Getting Started > Account Opening

-On the Account Opening page, specify the detail of account you wish to open, your PAN and other details

-The system will recognise from your PAN that you are an existing customer and will direct you to the Login page

-Once logged in, you will be directed to the Account Opening Form

-Since your login and personal details are already filled in, you can follow the same process you followed at the time of opening your first account.
 
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Q: Will I have different IDs for the multiple accounts I have with Fundsupermart.com?

A: You will not have multiple login IDs and passwords for your multiple accounts with us. The login ID and password that you specify for your first account will be used for the additional accounts you create as well.
 
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Q: Do I have to invest a fixed amount every time?

A: Your investment amounts should meet the criteria for minimum investment as specified by the individual funds you are purchasing. No other guidelines apply.
 
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Q: What are the features available on your forum?

A: The Fundsupermart.com forum is focused on allowing mutual fund investors to discuss and debate on investment-related issues and questions. The forum has many categories of topics to help you identify areas that you would be interested in.

The forum is broadly divided into local and global. The local forum offers the chance to interact with Fundsupermart.com India account holders, whereas through the global forum you can interact with our investors across Singapore, Hong Kong and Malaysia as well. Given how the financial markets are integrating, we think it is beneficial for Indian investors to understand international markets as well.
 
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Q: How do I register to participate in the forum at Fundsupermart.com?

A: You must have an investment account in order to post on the forum. Once you have opened an investment account, you can create a forum ID and use that identity to post on our forum.

You can register either under your own name or a nickname at Forum > Forum Registration.
 
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Q: Can my forum account be closed or barred?

A: Here at Fundsupermart.com, we hope to build a strong community of mutual funds investors, by encouraging an atmosphere of active and open debate among our members. However, certain guidelines have to be set and laid down so that all members of the forum will continue to benefit from these exchanges. Discussions, regardless of the subject matter, would be conducted in a lawful and civil manner.

Our forums are moderated and reviewed to ensure that decorum is maintained. Forum participants may be warned in case their comments violate the spirit of the forum. In extreme cases, a user may be prevented access to the forum.
 
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For further assistance, call our helpline at +91 22 4219 9494 from 9.30 am to 5.30 pm on Monday to Friday, (excluding Saturday, Sunday and public holidays).