Frequently Asked Questions

myMoneySage Account

myMoneySage is a 3-in-1 app that includes

  • Money Management – Aggregation of personal finance accounts across 256 financial institutions including banks/credit cards/mutual funds/equities/Savings/equity accounts, etc.
  • Financial Planning – Goal-based financial planning
  • Investment Management – Invest in Direct plan of Mutual Funds/Stocks/NPS(Coming soon)

You can create an account for free by registering on our platform.

Sign Up

Money Manager is the aggregation of all personal finance accounts across 256 financial institutions such as Banks, Mutual Funds, Equity Brokers, EPF, NPS, etc. It gives you a 360° view of your finance.

Please email support@mymoneysage.in.

Currently, our mobile app is under development. However, you can view and transact on our platform using your mobile browser.

myMoneySage Safety & Security

At myMoneySage, we require your minimum personal details which are required by law to start making investments. This data is not shared by us with any third-party apps or marketing companies. You can read about our Privacy policy here.

Privacy Policy

myMoneySage enables bank-level security, and all your personal information is stored using 256-bit encryption. All mutual fund transactions are done via MFUtility. At no point of time, your money reaches our accounts.

When you invest in a mutual fund on our platform, you are directed to the MFUtility page where you have to make the payment. MFUtility then directs the money from your account to the AMC managing your mutual fund scheme. Similarly, when you want to redeem your funds, you can place a request on our platform. The redemption amount is transferred from the AMC account to MFUtility which then credits the amount to your account.

You will be entering your bank details and PAN on our secure platform. It is not accessible by or visible to any of our team members.

myMoneySage uses bank-level encryption and a read-only connection and does not have direct access to your financial accounts. Our environment in Plynt-certified which means that it is safe against any security vulnerabilities.

Trust & Security
myMoneySage How-Tos

Below are the steps to invest through our platform:

  • Create an account on our platform.
  • Check if you are KYC compliant. If not, please complete your KYC.
  • Apply for eCAN. You can start investing in a lump sum or execute Switch/Redemption transactions immediately on receiving eCAN.
  • Apply for Payezz. You can start SIP/SWP transactions on receiving Payezz.

Currently, we don’t support equity investments through our platform.

You can enter all your financial accounts in the Money Manager. Create your financial goals in the Goals section. Map your assets to your financial goals to get your financial plan.

You can enter the data of all your financial accounts in the Money Manager in the following ways:

  • Manual Entry – You can enter your account and transaction details manually.
  • Auto-Populate – You can link your bank accounts using your online login and password.
  • Statement Upload – You can upload any of your financial statements.

In the profile tab, you can tag your family member's accounts along with yours. Click on the "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 on the list. Using common advisor, get your and family member's account merged in one place. All the benefits provided to your myMoneySage account will be extended to them as well.

Investments through myMoneySage

Currently, we support only the purchase of Direct Mutual Funds on our platform.

No.

Investment Readiness means that you become all set to invest through our platform. To become Investment Ready, you have to be KYC compliant and obtain eCAN & Payezz number. KYC compliance is required by law to make mutual fund investments in India.

Our platform is integrated into MFUtility through which the mutual fund transactions are executed. eCAN and Payezz are required to transact through MF Utility.

There is no minimum amount specified for investing through our platform. However, depending on the mutual fund scheme you are investing in, the minimum amount of investment will be specified.

The units are allotted to you on the day of purchase. However, it can take up to 3 days to reflect in your account.

If you are a free user, you can invest in any mutual fund of your choice.

Yes, we do provide investment proofs for ELSS.

Yes, you can avail of a free consultation with our advisors or get your investment portfolio evaluated for free. To book the consultation, please click here:

Book

CAN is a new mutual fund investment identification number using which investors can hold schemes from different AMCs using MFUtility. To utilize the services of 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.

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

You don't need to pay any transaction fee at all. You can do unlimited transactions on our platform without any additional charges.

PayEezz is a payment facility under which you issue a ONE-TIME mandate to your bank and authorize 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.

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

Transfer Investments to myMoneySage

You can view all your MF investments on our platform by uploading your statement or by auto-populate. If your MF investments are under the regular plan, you can switch to direct plans on our platform.


No.

Yes, you can view MF investments made on other channels by uploading your MF statements or linking your accounts or by manually entering the transactions.

Yes, you can transact once you are Investment Ready.

No, ongoing SIPs cannot be transferred to our platform.

Yes, you can invest in your minor child’s name by applying for a separate eCAN for your minor child.

MyMoneySage Advisory

No, there is no advisory fee if you are a free user. You can consider our DIY+ and Platinum Plans for advisory.

Wealth Management Plans

We offer holistic advisory which is unbiased and transparent. Our advice is based on your investing goals, risk tolerance, and your existing investments. Our advice does not just offer MF recommendations alone.

We leverage factors that can more reliably contribute to better portfolio returns and investor outcomes, below are the factors in the order of importance and their contribution to investment returns.

Investment Philosophy

Our platform is only for direct MF investments.

Our advisors will assist you if you are a Platinum or Priority plan subscriber.

Yes. Depending on the plan you have subscribed to, you will get limited or unlimited talk time with advisors. The advisory contact number will be shared with you on subscription.

Yes, we do provide Income Tax Filing services.

Wealth Management Plans
MyMoneySage Plans

We offer DIY+, Platinum, and Priority plans. You can check out the features of the plan below.

Compare Plans

Yes, you can upgrade your plan at any time.

No, there is no refund for any of the paid plans.

We accept online payment through NEFT and Credit/Debit cards.

No, we don’t provide the installment facility.

Direct MFs

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

You may invest in Direct Plans in the following ways:

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

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

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

We accept online payment through NEFT and Credit/Debit cards.

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.

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

The expense ratio indicates the operational efficiency of a particular fund. It includes 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.

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

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

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

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.

Initially, your money gets credited to a common collection escrow account. Afterward, it is transferred to the respective AMC accounts according to the investments made by you. The escrow account takes at least a 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 the escrow account till 1:40 p.m. would be transferred to the scheme account by 2:00 p.m. and credit received by 2:40 p.m. would be transferred by 3:00 p.m.

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.

If you want to get out of both the plans, then you need to submit redemption applications for each plan separately.

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

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

  • Axis Asset Management Company Limited
  • Aditya Birla Sun Life Asset Management Company Limited
  • BNP Paribas Asset Management India Private Limited
  • DSP Investment Managers Private Limited
  • Edelweiss Asset Management Limited
  • Franklin Templeton Asset Management (India) Private Limited
  • HDFC Asset Management Company Limited
  • ICICI Prudential Asset Management Company Limited
  • IDBI Asset Management Limited
  • IDFC Asset Management Company Limited
  • India Infoline Asset Management Company Limited
  • Indiabulls Asset Management Company Limited
  • Invesco Asset Management India Private Limited
  • Kotak Mahindra Asset Management Company Limited
  • L & T Investment Management Limited
  • Motilal Oswal Asset Management Company Limited
  • Essel Finance Asset Management Company Limited
  • PPFAS Asset Management Private Limited
  • Principal Asset Management Company Private Limited
  • Quantum Asset Management Company Private Limited
  • Nippon Life India Asset Management Limited
  • SBI Funds Management Private Limited
  • Sundaram Asset Management Company Limited
  • Tata Asset Management Limited
  • Taurus Asset Management Company Limited
  • UTI Asset Management Company Limited

Based on the plan selected, myMoneySage will recommend the most suitable funds for you based on your risk profile and your investment time horizon. Our fund selection is powered by AI & ML, and based on the qualitative and quantitative data points that not only evaluate the past performance but also identify the future potential.

Investment Methodology
DIY+

The stock recommendations are for meant for investment purpose and longer period provided better returns.

It is recommended to keep an investment horizon of 5+ years as equity generates good return over longer period. There is no specific target price given for the stocks. However, it will remain in the portfolio unless there is significant change in fundamentals or technicals of that stock, you should look at the portfolio as a whole instead of individual stocks.

There is no individual buy/sell recommendations given for Mutual funds, however there will be periodic alerts for inclusion or exclusion as well as re balancing of the funds from the model portfolio.

No, we do not provide guarantee of returns.

No, you cannot invest in stocks using myMoneySage platform.

Yes, you can invest in Mutual Funds using myMoneySage platform.

You can enter the transactions of your stock portfolio and Mutual Fund portfolio in our Money Manager either manually or through auto-populate or by uploading your statement. Our platform will analyze can calculate the returns.

The rebalancing will be done in the portfolio if there is significant change in fundamentals or technicals. Few stocks can be added or removed on monthly or quarterly basis depending on the trend and factors affecting the sectors or specific stocks.

Currently, we do not have the demat account opening facility. However, we may introduce it in future.

Since this plan in Do-it-yourself, it does not include support by our advisory team.

Refund Policy

No, there is no refund for any of the paid plans.