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FAQ
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11. One Time Mandate (OTM)
1) What is One Time Mandate (OTM)?
2) What are the advantages of OTM?
3) What is the cost of setting up a OTM?
4) How do I register for an OTM with Fundsupermart.com?
5) How do I make my investments?
6) Can I register OTM through any bank?
7) How long will it take for the approval of OTM?
8) Is there a limit to the maximum amount?
9) Do I have to utilize the entire amount of the OTM ?
10) Will this facility be available for all funds?
11) Is there any limit on the number of funds that can be selected?
12) Are the limits provided in OTM monthly or daily?
13) When can I start investing through OTM?
14) When will the OTM amount be debited from my bank account?
15) What if I wish to increase my OTM limits?
16) Who will debit the amount from my bank account?
17) Can I change my bank mandate or any detail mentioned in the OTM once registered?
18) What happens if I don't have sufficient funds in my bank account on the transaction date, are there any charges?
19) If the payment does not get processed for a particular transaction, how will I be informed?
20) Do I need to register separately if I have to make SIP investments?
21) How can I invest in SIP through OTM?
22) How can I add funds or get started with SIP investments?

Q: What is One Time Mandate (OTM)?

A: OTM stands for One Time Mandate. It is a onetime registration process that enables the investor to transact seamlessly on the Fundsupermart platform.
 
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Q: What are the advantages of OTM?

A: Using the OTM feature, the investor instructs his bank to allow a debit of a certain limit set in his account on a daily basis. With these instruction the investor can proceed to carry out SIP and lump sum transactions in his Fundsupermart account thereby eliminating the dependency on any particular mode of payment.
 
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Q: What is the cost of setting up a OTM?

A: Right now, it is absolutely free.
 
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Q: How do I register for an OTM with Fundsupermart.com?

A: a. Login
b. Click on the transactions tab
c. OTM
d. Create OTM
e. Click on next
f. Enter the portfolio name
g. Maximum debit amount for daily transaction h. Select bank
i. Enter the bank details
j. Submit
k. Click on the "Print Form" option > kindly print the form and attach an original self attested cancelled cheque and send it to us on the address given below:

iFAST Financial India Private Limited.
1, Ground Floor, Raheja Titanium,
Western Express Highway,
Goregaon East,
Mumbai- 400063
 
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Q: How do I make my investments?

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

A: You can register with any bank that participates in the list of *NACH banks.
 
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Q: How long will it take for the approval of OTM?

A: You are required to submit the filled OTM 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 OTM approval process may take up to 20 business days. Once the OTM is approved and registered we will inform you about it through email.
 
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Q: Is there a limit to the maximum amount?

A: The OTM starts at Rs 25,000 with no upper limit.
 
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Q: Do I have to utilize the entire amount of the OTM ?

A: No, utilizing the entire amount of the OTM is not mandatory. You can enjoy total freedom, flexibility and convenience up to the OTM limit that you have set. Let's say your OTM limit is set at Rs 25,000. You can start investments with just Rs 500 even and continue investing with lump sum investments up to Rs.25,000.
 
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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 amount in your portfolio is within the maximum limit as specified in your OTM.
 
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Q: Are the limits provided in OTM monthly or daily?

A: You get daily limits up to the maximum limit specified in the OTM.
 
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Q: When can I start investing through OTM?

A: Once the OTM is approved by your bank, you can start making investments.
 
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Q: When will the OTM amount be debited from my bank account?

A: The OTM amount will be debited on a T+1 working day basis i.e. one business day subsequent/next to your transaction date. If the subsequent/next day is a non-business day, then the OTM amount will be debited on the subsequent/next business day.
 
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Q: What if I wish to increase my OTM limits?

A: In case you want to increase your OTM limits, you are required to undergo the OTM process again.
 
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Q: Who will debit the amount from my bank account?

A: As mentioned in the OTM, you (the customer) will be authorizing our payment gateway to debit the transaction amount from the bank account updated in the OTM mandate.
 
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Q: Can I change my bank mandate or any detail mentioned in the OTM once registered?

A: Once the OTM 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.
 
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Q: What happens if I don't have sufficient funds in my bank account on the transaction date, are there any charges?

A: In case you do not have sufficient funds on the transaction date, your transaction will not proceed, it will be rejected by the AMC. Fundsupermart will not charge you for the payment bounce. However, your bank may charge you penalty for the same (Kindly check with the respective bank on payment bounce charges).
 
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Q: If the payment does not get processed for a particular transaction, how will I be informed?

A: If the transaction fails, you will receive an e-mail informing you about the same.
 
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Q: Do I need to register separately if I have to make SIP investments?

A: No. You do not have to register separately for making SIP investments.
 
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Q: How can I invest in SIP through OTM?

A: You can simply follow the below listed steps for making SIP investments through OTM:

a) Login
b) Click on the transactions tab
c) OTM
d) View/Edit OTM
e) Click on Add DDA¿s
f) Enter the portfolio name
g) Maximum debit amount
h) Submit
 
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Q: How can I add funds or get started with SIP investments?

A: You can add funds by following these steps:

Click on OTM > View/Edit OTM > View details > Select the portfolio > View details > Add funds.
 
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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 public holidays).