FAQ'S

A. Mymoneysage provides you with powerful financial tools for a quick and easy money management. Once all of your asset accounts are aggregated on Mymoneysage, transactions of each account will be automatically classified into various categories. Set and track financial goals and feel satisfied as you proceed steadily towards their achievement. You can even ensure your expenses fall within the budgeted limits using the "Budget" feature. The SMS and email reminders of personal finance calendar help you to track due dates of insurance premiums, credit card payments, SIPs as well as maturities of deposits.

Create a portfolio and get a graphical representation of your asset allocation and net worth. Mymoneysage automatically generates consolidated and standalone reports which can be downloaded in PDF & Excel Formats. You can also invest directly in Mutual Funds using our investment platform. If you get stuck at some point, then get your queries solved by connecting to Registered Investment Advisors. Just like a personal financial assistant, it helps you to make most out of your money.

A. To get a 360° view of all your assets and liabilities and get actionable advice on the same, it's important that you add all your accounts to mymoneysage Money Manager, After you log in, click on "Add Account" wizard. Within that wizard, you may pick any of the three ways to add accounts to MMS.

In "Automatically Populate" option, simply feed your user ID and password of the respective institution. The system automatically fetches data from the institution and fills entries at required places in your MMS account. Every time you conduct a transaction, your MMS account automatically gets updated.

In "Upload Statement" option, you can upload the statement of the respective institution directly onto the portal. The system will seamlessly populate the transactions from the statements. You also have the option of adding all your accounts and transactions manually.

A. After you log in, click on "Go to Profile" wizard. Click on "Create Profile", fill in personal details and save. You can also add details of your family members. Moreover, assess your risk profile by answering a set of questions.

A. AWS's world-class, highly secure data centres utilise state-of-the-art electronic surveillance and multi-factor access control systems. Data centers are staffed 24x7 by trained security guards, and access is authorised strictly on a least privileged basis. Environmental systems are designed to minimise the impact of disruptions to operations.

A. On MMS platform, you get a whole range of money management services. You can choose from any of 3 plans i.e. Basic, Gold and Platinum. The Basic plan consists of all the features like creating & tracking budgets, setting goals & linking goal to the portfolio, create portfolio & customise, generate consolidated & standalone account reports, reminder settings in calendar & store documents. The Gold plan consists of all features of the Basic plan along with Free Consultation with Advisor and a Rs 1500 per annum fee-based feature i.e. MF Invest in Mutual Funds. The preferred plan provides you with an opportunity to get a comprehensive and custom-made financial plan from our empanelled Registered Investment Advisor. You would be charged as per the Asset Under Management in your portfolio.

A. Go to Portfolio tab and select Custom portfolio. Now, click on "Create Portfolio". You may give a name to the portfolio. Then, select the assets you want the portfolio to be composed of. You may indicate the percentage of assets that needs to be allocated to the portfolio. To link your goals to the portfolio, simply select a goal from the drop-down menu.

A. In the profile tab, you can tag your family member's accounts along with yours. Click on "Add family member" button. Fill in the necessary personal and financial details of the member in the pop-window. Click Save. Immediately that member's account appears in the list. Using common advisor, get your and family member's account merged at one place. All the benefits provided to your MMS account will be extended to them as well.

A. Direct mutual funds allow you to directly invest in MF scheme of your choice at a click without the need of any intermediary. Here, you earn higher returns at lower expense ratio without the need to pay any distributor commission.

You may invest in Direct Plans in the following ways:

  • 1. Invest via MMS (www.mymoneysage.in)
  • 2. Apply directly with each AMC in both offline/online route on their website

A. The expense ratio of a Direct Plan differs from that of the Existing plan. Hence, there will be considerable variation in the NAV of Direct plans as well.

A. No. Both the direct plan & the regular plan have similar scheme portfolio.

A. No. Scheme characteristics like Investment Objective, Asset Allocation Pattern, Investment Strategy, risk factors, facilities offered and terms and conditions including load structure remain the same in both plans.

A. Switching from regular plan to direct plan is possible only when the lock-in period gets over.

A. Expense Ratio indicates the operational efficiency of a particular fund. It includes the fund management fees, selling & promotion, agency commission, registration, etc. Higher the expense ratio of a mutual fund, the lower the rate of returns. Thus, you may choose a plan having a low expense ratio.

A. Every investment is made under your name that you make through MMS. Moreover, the funds directly move from your account to the AMC account. MMS just acts as a platform for the transaction and never interferes at any time in the process. Thus, whether MMS is there or not, your investments will remain intact as they were before. Moreover, you can manage your investments even outside the MMS framework.

A. Switch transaction helps you to move your investments from one scheme/plan of an AMC to other scheme/plan of the same AMC. You would require your folio number and scheme name to make a switch transaction. MMS helps you in doing so in a matter of seconds.

A. The NAV that you receive depends upon submission of payment to the AMC. For online transactions, the timing of MMS server will be considered. The basic rules regulating NAV remain applicable to transactions conducted through MMS.

A. Instructions received for Equity & Debt Schemes before 3:00 p.m. would receive same day NAV. For transactions received after cut off time, NAV of the next business day will be applicable. However, for Debt-Liquid Schemes, previous day NAV will be applicable before the cut-off time of 2:00 pm.

A. Initially, your money gets credited to a common collection escrow account. Afterwards, it is transferred to the respective AMC accounts according to the investments made by you. The escrow account takes at least T+1 business/working day to receive funds through net banking / NACH/ECS/Direct Debit mandates.

NAV is assigned as per the time of credit to respective AMC Accounts. The credit received in escrow account till 1:40 p.m. would be transferred to scheme account by 2:00 p.m. and credit received by 2:40 p.m. would be transferred by 3:00 p.m.

A. Of course, your request would be acted upon, and units in the Regular Plan will be redeemed. If you want to redeem units of Direct Plan, then it must be specified in the application.

A. You just need to invest the additional application amount for switching from regular plan to direct plan.

A. At present you can invest in Mutual Fund schemes of 26 AMCs as follows:

  • 1. Axis Asset Management Company Limited
  • 2. Birla Sun Life Asset Management Company Limited
  • 3. BNP Paribas Asset Management India Private Limited
  • 4. DSP BlackRock Investment Managers Private Limited
  • 5. Edelweiss Asset Management Limited
  • 6. Franklin Templeton Asset Management (India) Private Limited
  • 7. HDFC Asset Management Company Limited
  • 8. ICICI Prudential Asset Management Company Limited
  • 9. IDBI Asset Management Limited
  • 10. IDFC Asset Management Company Limited
  • 11. India Infoline Asset Management Company Limited
  • 12. Indiabulls Asset Management Company Limited
  • 13. Invesco Asset Management India Private Limited
  • 14. Kotak Mahindra Asset Management Company Limited
  • 15. L & T Investment Management Limited
  • 16. MotilalOswal Asset Management Company Limited
  • 17. Peerless Funds Management Company Limited
  • 18. PPFAS Asset Management Private Limited
  • 19. Principal PNB Asset Management Company Private Limited
  • 20. Quantum Asset Management Company Private Limited
  • 21. Reliance Capital Asset Management Limited
  • 22. SBI Funds Management Private Limited
  • 23. Sundaram Asset Management Company Limited
  • 24. Tata Asset Management Limited
  • 25. Taurus Asset Management Company Limited
  • 26. UTI Asset Management Company Limited

A. Mutual Fund selection is indeed an intricate process. You may choose from updated list of season's top picks. It is based on a scientific algorithm devised out of fund recommendations made by the experienced Registered Investment Advisers to their clients. These advisers are essentially users of MMS advisor portal.

You may even consult your financial adviser before settling for any mutual fund scheme.

A. The CAN is a new mutual fund investment identification number using which investor can hold schemes from different AMCs. To utilise the services of mymoneysage.in (Client) for investing in direct plans of mutual funds, you require a CAN. If you want to invest as a single holder in some schemes and as joint holders in others, then you will need two CANs to do so.

A. You don't need to pay any transaction fee at all. You can conduct unlimited transactions with your CAN absolutely free.

A. PayEezz is a payment facility under which you issue a ONE-TIME mandate to your bank and authorise MF Utility to debit your account for any Mutual Fund Subscription (Lump sum or SIP) transactions. Hence, you need not issue the cheque or other payment instructions for every transaction separately up to the amount mentioned in the PayEezz mandate.

A. Yes, you can invest in Mutual Funds on Mymoneysage as an NRI with the help of NRE/NRO Account.

A. Click on the Login on the website. Then, click on the "Forgot Password" link on the bottom of the web page. Here, enter your registered email id and click on Submit. A link would be sent to your registered email id. Click on the link and submit a new password.

A. e-CAN is a facility wherein investors can submit all the data required for opening a CAN electronically either at MFU website or through an Intermediary associated with MFU and get a CAN created instantly.

A. Our connection with your account is secure and read-only; we cannot transfer money. Mymoneysage uses bank-level encryption and a read-only connection; which means no one can transfer money into or out of your accounts through Mymoneysage, it does not have direct access to your financial accounts and will never ask for account numbers.

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