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FAQ

02. Account Opening
1) Who can open an account with Fundsupermart?
2) Can Foreign citizens open an account?
3) What is the minimum age to be eligible for opening an investment account?
4) How do I open an Investment account?
5) What are the requirements for opening the NRI account?
6) Are there any charges for opening investment account or to maintain the account?
7) Can I come to your office to open the account?
8) What are the forms / documents required by resident,non resident and minor investor for opening an account?
9) What are the forms / documents required for corporate to open an account?
10) What are the documents acceptable for address proof?
11) Is there any country restricted from investing in mutual funds in India for NRI investors?
12) How can I send my documents to Fundsupermart.com? Can I e-mail my documents to your office?
13) In case my account gets voided how can I open the account again with Fundsupermart.com? Or how can I get the account activated?
14) What will happen to my account application if I do not send in completed documents?
15) What is the permitted time-frame for furnishing the pending documents if any?
16) How will I know status of my account opening?
17) Do I need to have an account in a particular bank to transact on Fundsupermart?
18) Which are the banks available for corporate net banking?
19) Can I make payment through Demand Draft or cheque payment?
20) If I open/have a joint account what bank account details do I need to provide?
21) How many accounts can I open with Fundsupermart.com?
22) How do I open an additional account with Fundsupermart.com?
23) Will I have different IDs for the multiple accounts I have with Fundsupermart?
24) How much money do I need to open an account?
25) Do I have to invest a fixed amount every time?
26) What are the features available on your Forum?
27) How do I register to participate in the forum at fundsupermart.com?
28) Can my forum account be closed or barred?

Q: Who can open an account with Fundsupermart?

A: The following entities are eligible to open an account with us
1 Resident Individual
2 Sole Proprietor
3 Corporate Investors
4 Societies
5 Trusts
6 Partnership Firms
7 HUF
8 Minor
9 Non Resident Indian (NRI, PIO, OCI)
 
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Q: Can Foreign citizens open an account?

A: No, a foreign citizen cannot open an account with Fundsupermart and invest in Indian mutual fund.
 
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Q: What is the minimum age to be eligible for opening an investment account?

A: The minimum age to be eligible for opening an account with Fundsupermart.com is 18 years.
 
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Q: How do I open an Investment account?

A: Opening an account with us is a three-step process involving:

1. Completing the online account opening process (selecting account type -> filling in form -> confirming details).

2. Sending 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 for verifying your ID, bank details, address details, etc.

3. Login to your account to access the benefits of FSM online account once you receive our email confirming that your account has been activated.
 
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Q: What are the requirements for opening the NRI account?

A: You need to have an NRO bank account, Pan Card and Overseas address proof to open an account with Fundsupermart
 
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Q: Are there any charges for opening investment account or to maintain the account?

A: No, there are no charges for opening or maintaining the account.
 
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Q: Can I come to your office to open the account?

A: We would be happy to assist you with the account opening process. However, we would still need you to submit the verification documents mandatory for account opening.
 
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Q: What are the forms / documents required by resident,non resident and minor investor for opening an account?

A: Following are the types of entities who can open investment accounts with Fundsupermart.com, and the documents they need to submit for the processing of their account opening request:

A. Individual / Joint/ Sole Proprietor

-Self Certified copy of PAN Card
-Self Certified copy of Address Proof
-Self Certified copy of Cancelled Cheque (Personalized cheque leaf, if not, kindly also attach your latest bank statement or passbook copy duly self attested)
-Self certified copy of KYC acknowledgment letter or KYC verified letter
In case of Joint account, all the above mentioned documents will be required for all applicants.

B. NRI (Non Residend Indian)

-Self Certified copy of PAN Card
-Self Certified copy of Passport
-Self Certified copy of Overseas Address Proof (Mandatory)
-Self Certified copy of Indian Address proof (In case you have mentioned Indian address in Account Opening Form)
-Self Certified copy of Cancelled Cheque (Personalized cheque leaf, if not kindly also attach your latest bank statement or passbook copy duly self attested)
-Self certified copy of KYC acknowledgment letter or KYC verified letter

-For Person of India origin (PIO) and Overseas citizen of India (OCI) following additional documents will be required :

I.Foreign Passport attested by local Indian embassy
II.Self Certified Copy of PIO or OCI card

-Following documents will be required of Power of Attorney holder:

I.Self Certified Copy of KYC acknowledgement letter
II.Self Certified Copy of PAN Card
III.Original or Notarized copy of Power of Attorney

C. Minor

-Age proof of minor - any one of the following: birth certificate/school or junior college certificate/school or college mark sheet/passport /PAN card
-Guardian PAN card
-Guardian Address proof
-Guardian KYC acknowledgement
-Relation proof between minor and guardian - any one of the following: Birth certificate/passport /PAN card/school or college certificate/school or college mark sheet/copy of court order (in case of legal guardian)
-Bank details - any one of the following: Minor's bank account/Minor + guardian bank account/Individual bank account of guardian /Joint account of Guardian
All document to be self attested by guardian.

Please note:
-In case the documents are in any language other than English, the same must be translated to English and certified by Government Authority in country of residence or by the Indian Embassy.
-All the photo copies of document should be on A4 size paper.
 
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Q: What are the forms / documents required for corporate to open an account?

A: The following are the type of entities who can open an corporate account with Fundsupermart.com and the documents to be submitted for account opening:

A. Corporate

-Company PAN card
-Company address proof
-Cancelled cheque, Bank pass book/bank statement in name of company
-KYC acknowledgment letter or KYC verified letter of company
-Certified true copy List of Directors
-Copy of Proof of Identity, Proof of Address, PAN and DIN numbers of whole time directors/two directors in charge of day to day operations
-Copy of Memorandum and Articles of Association and certificate of Incorporation
-Copy of the Board Resolution for investment in securities market
-Authorised signatories list with specimen signatures, PAN card and address proof
To be duly certified by Director/Authorised Signatory/Company Secretary.

B. Partnership firm

-Firm's PAN Card
-Firm's address proof
-Cancelled cheque, Bank pass book/bank statement in name of Firm
-KYC acknowledgment letter or KYC verified letter
-Copy of Certificate of registration (for registered partnership firms only)
-Copy of partnership deed
-Authorised signatories list with specimen signatures, PAN card and address proof
-Self attested copy of Proof of Identity, Proof of Address, PAN of all Partners
To be duly certified by Authorised signatory

C. Trust

-Trust PAN card
-Trust address proof
-Cancelled cheque, Bank pass book/bank statement in name of Trust
-KYC acknowledgment letter or KYC verified letter of Trust
-Copy of Certificate of registration (for registered trust only)
-Copy of Trust deed
-List of trustees along with self attested copy of Proof of Identity, Proof of Address, PAN
-Authorised signatories list with specimen signatures, PAN card and address proof
To be duly certified by Authorised signatories/Managing Trustee.

D. HUFs (Hindu Undivided Families)

-PAN of HUF
-Deed of declaration of HUF/List of coparceners
-Cancelled cheque, Bank pass book/bank statement in name of HUF Proof of Identity, Proof of Address, PAN of Karta
-KYC acknowledgment letter or KYC verified letter of HUF
To be duly certified by Karta.

E. Society

-Society PAN card
-Society address proof
-Cancelled cheque, Bank pass book/bank statement in name of Society
-KYC acknowledgment letter or KYC verified letter of Society
-Copy of Registration Certificate under Societies Registration Act
-List of Managing Committee members
-Committee resolution for persons authorised to act as authorised signatories with specimen signatures
-Copy of Society Rules and Bye Laws
-List of Society board member along with Proof of Identity, Proof of Address, PAN
-Authorised signatories list with specimen signatures, PAN card and address proof
To be duly certified by the Authorised Signatory/Chairman/Secretary of the Committee.

Please note:
-In case the documents are in any language other than English, the same must be translated to English and certified by Government Authority in country of residence or by the Indian Embassy.
-All the photo copies of document should be on A4 size paper.
 
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Q: What are the documents acceptable for address proof?

A: Following documents are acceptable as address proof to open fundsupermart.com account:

-Passport/Voters Identity Card/Ration Card/Registered Lease or Sale Agreement of Residence/Driving License/Flat Maintenance bill/Insurance Copy.

-Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill (Not more than 3 months old as on date of submission).

-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 Banks/Scheduled Co-Operative Bank/Multinational Foreign Banks/Gazetted Officer/Notary public/Elected representatives to the Legislative Assembly/Parliament/Documents issued by any Govt. or Statutory Authority.

-Identity card/document with address, issued by any of the following:Central/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: Is there any country restricted from investing in mutual funds in India for NRI investors?

A: A few mutual fund houses restrict US and Canadian investors from investing into the schemes of their AMCs.
Please read the Offer Document/Scheme Information Document of the individual fund to confirm this.
 
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Q: How can I send my documents to Fundsupermart.com? Can I e-mail my documents to your office?

A: You can courier the documents at the nearest office of our investor services vendor, Deutsche Investor Services Private Limited (DISPL) offices in more than 75 locations all over India (http://displ.co.in/Centres.htm).
We don't accept the documents sent by e-mail. Hard copies of all documents are required.
 
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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 you 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 no. at +91 22 4219 9494 from 9.30am to 5.30 pm on weekdays (excluding public holidays) .
 
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Q: What will happen to my account application if I do not send in completed documents?

A: The account would not be processed for activation. To activate the account the investor has to provide the complete set of documents within 120 days post which the account will be voided.
 
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Q: What is the permitted time-frame for furnishing the pending documents if any?

A: Your documents can reach us for processing of the account within 120 days. After this period, the application will be voided.
 
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Q: How will I know 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 requirement, your account status will be updated to "received". As per 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 Registrar and Transfer agent (R&T) your account will be activated and you can place transaction(s).

In case your KYC is in process, as per SEBI guidelines, please note that 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 CDSL Ventures Ltd , your account with us will be suspended. As per SEBI guidelines, please note that 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?

A: The investment accounts in Fundsupermart.com need not be tied to a particular bank. At the time of purchasing funds, you will be directed to a payment gateway to process your payment for the fund purchase.

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 Bank
-Indusind Bank*
-ING Vysya Bank
-Jammu and Kashmir Bank
-Karnataka Bank
-Karur Vysya Bank
-Kotak Mahindra Bank
-Lakshmi Vilas Bank*
-Oriental Bank of Commerce
-Punjab & Sind Bank*
-Punjab National Bank*
-State Bank of India
-Shamrao Vithal Co-Operative Bank*
-South Indian Bank
-Standard Chartered Bank
-State Bank of Bikaner and Jaipur
-State Bank of Hyderabad
-State Bank of Mysore
-State Bank of Patiala
-State Bank of Travencore
-Syndicate Bank*
-Tamilnad Mercantile Bank
-UCO Bank*
-Union Bank of India
-United Bank of India
-Vijaya Bank
-Yes Bank

Please note: Banks with * mark are available only for open ended non liquid fund and with limited AMC's.
 
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Q: Which are the banks available for corporate net banking?

A: Following banks are available for corporate net banking

-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*
-Deutsche Bank
-Development Credit Bank*
-Dhanlaxmi Bank*
-Federal Bank*
-ICICI Bank*
-IDBI Bank*
-Indian Bank*
-Indian Overseas Bank
-Indusind Bank*
-ING Vysya Bank*
-Jammu And Kashmir Bank
-Karnataka Bank*
-Karur Vysya Bank Limited*
-Kotak Bank*
-Lakshmi Vilas Bank*
-Oriental Bank of Commerce
-Punjab & Sind Bank*
-Punjab National Bank*
-Shamrao Vithal Co-Operative Bank*
-South Indian Bank*
-Standard Chartered Bank
-State Bank of Mysore
-State Bank of Bikaner And Jaipur*
-State Bank of Hyderabad
-State Bank of India
-State Bank of Patiala*
-State Bank of Travencore
-Syndicate Bank*
-UCO Bank*
-Union Bank of India*
-United Bank of India*
-Vijaya Bank*
-Yes Bank*

Please note: Banks with * mark are available only for open ended non liquid fund and with limited AMC's.
 
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Q: Can I make payment through Demand Draft or cheque payment?

A: You can only pay for your buy transaction online through net banking using the payment gateway.
 
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Q: If I open/have a joint account what bank account details do I need to provide?

A: As per SEBI regulation in case of a joint account you need to provide us joint bank account details. In case there is any change in mode of operation in the joint account you are requested to intimate Fundsupermart.com.
 
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Q: How many accounts can I open with Fundsupermart.com?

A: In case of resident and NRI individual account types (individual, joint) on the same PAN number you can have 4 accounts. In case of non individual account types (corporate, HUF, partnership, society, trust) you can have only one account per PAN.

Please note that if you have an existing "Individual" account with us, you cannot open an additional "Individual" account. You can open 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 type 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. Your login and personal details are already filled in. From there, 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?

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: How much money do I need to open an account?

A: You do not need any initial amount to open an investment account with Fundsupermart.com. There is no requirement of minimum balance in the account. Payments for purchases of funds will be made directly through payment gateway at the time of purchasing funds.
 
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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 Forum and Global Forum. 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 your 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 the decorum is maintained. Forum participants may be warned in case their comments violate the spirit of the forum. In extreme cases, a user may need to 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).