FAQs
Kindly click on respective question for details.

1.What is an i-SIP?
An online platform for our New and Existing investors to start a Systematic Investment Plan (SIP) in our Mutual Fund Schemes without any paper work at your convenience using Laptop, Desktop, Mobile& Tab. All Applicants having online banking access with any of the listed banks as given in point 11 below, can avail this seamless facility. Please note, that the details in the Statement of Account, will be reflected only after the first Installment has been processed.
2. How to invest in i-SIP?
New Investors can follow the simple steps, and can quickly register SIP:

Step 1 : Feed in your PAN under “New Investor” tab.
Step 2 : Validate and Confirm FATCA details.
Step 3 : Fill in the Applicant Details with Contact and Nominee credentials.
Step 4 : Select SIP in Bank Details.
Step 5 : Select the Scheme, Plan, SIP Amount, SIP Date and the Duration/Period.
Step 6 : Fill Nomination and broker details if any.
Step 7 : Confirm Undertaking and Terms.
Step 8 : A Unique Registration Number (URN) will be generated for the intended registration.
Step 9 : The same URN has to be listed/registered with your bank on or before the expiry date of URN.

For Existing Investors:

Our Existing Investors need to access the transaction website with their (using their Login credentials or without Login using combination of folio,PAN and Bank accont credentials) and follow the below steps:
Step 1 : Click on the “SIP” option available at the left hand side menu.
Step 2 : Select the Folio Number under which you wish to invest.
Step 3 : Select SIP in Bank Details.
Step 4 : Select the Scheme, Plan, SIP Amount, SIP Date and the Duration/Period. It will show only the banks registered for i-SIP facility. Please ensure that the i-SIP, that you intend to start is from any of the above mentioned 40 banks.
Step 5 : Confirm Undertaking and Terms.
Step 6 : A Unique Registration Number (URN) will be generated for the intended registration.
Step 7 : The same URN has to be listed/registered with your bank on or before the expiry date of URN.
3.What is a URN?
Unique Registration Number (URN) is generated for every i-SIP you register with us which comes with the validity of 7 calendar days from the date it is generated on our website. You have to register this number with your bank under “Utility BillPay” option.

3a. What is the relevance of Unique reference number (URN) for my Internet SIP (i-SIP)

Unique reference number (URN) as the name suggests is a differentiator identification number for the intended i-SIP. This is a 15 digit combination of credentials which needs to be entered under the Bill Pay Section or the Billers section available under the Savings Bank account when the account is accessed using the internet banking platform of the bank where you hold the account.

To help understand the flow of the said combination and to understand the relevance please see an example carved out especially with a purpose of avoiding any inadvertent errors while activating the same by you. Kindly note that any clerical error while inputting the URN may lead to non-activation of the intended i-SIP or it may even result in debits that may not get mapped under your account.

Also note that the URN logic is particularly for Mirae Asset Mutual Fund and that this is not a uniform practice for any other Bill payment mechanism. Investors may please note that different logics and patterns may be followed by other institutions.

This is how you can read your Unique Reference Number(URN)

a) First 2 digits are Institution Identification. In this case ‘MA’ is used for ‘Mirae Asset’.

b) Next 2 digits are Scheme Identifier (generally referred as ‘IH’). In our Example we have used ‘EB’ which is for Mirae Asset Emerging Bluechip Fund.

c) Next 4 digits are system generated numerical identifiers (last 4 digits) for the Internet SIPregistered

d) Then followed by an hyphen (-). This is to separate two set of information.

e) The last of information is last 5 digits of the bank A/c number pre-fixed with check digit alphabet.

For the purpose of illustration, let us understand the URN MAEB2945-A40611 where the Account Number Is 0253555040611 & the system generated numerical identifier as 96802945 and the SIP is registered under Mirae Asset Emerging Bluechip Fund.

MA EB 2945 - A40611
A B C D E


4. How to register a URN at bank’s site?
Just the way you register any of your utility bills with your bank for online payment, such as Mobile, Electricity, MTNL, Gas, etc., you can register the URN with your bank for i-SIP.

You have to login to your bank’s website and register Mirae Asset Mutual Fund as a biller under BillPay option along with the exact URN allotted to you, by selecting our name and registering it as a biller. At the time of registration you will be asked for the mode of payment depending upon the bank you are registering with.

5. What are the reasons for a registration not being successful at the bank’s end/ Mutual Fund’s end?
i) - If you register an incorrect URN at bank’s end, the same will be rejected at bank’s end.
ii) -If you register the URN at your bank beyond the stipulated time limit determined by the AMC, the URN gets expired at the AMC’s end. Generally the URN will expire in 7 Calendar Days.
6. What are the modes of payment available at bank’s end for i-SIP?
Below are the two types of payment options available at bank’s end for i-SIP

i. Auto-pay mode:If you opt for this mode, the SIP amount will be debited automatically on the due date provided your account has sufficient balance.

ii. View and pay mode: If you opt for this mode, you have to login in and schedule the payments failing which the bill gets expired and this is termed as Failure
due to funds not received from your bank.

It is recommended to select Auto-Pay mode for continuity of SIP and also to do away with the manual intervention of every month authorizations, with the other option.
7. What are the possible reasons for failure of a transaction, if the registration is under an Auto-pay option?
a. The primary reason could be insufficient balance at the time of debit.

b. Few banks provide the facility of setting up an auto-pay limit to its customers and if this is not within the limit of the transaction amount, the transaction gets failed. Banks send notification for such cases to you.

c. Technical issues at bank’s end at the time of debiting the amount from your account.

8. What are the possible reasons for failure of a transaction for View and Pay option?
a. You forgot to authorize the transaction within the stipulated time resulting in the bill getting expired.

b. Not having sufficient balance at the time of authorizing payments.

c. Technical issues at bank’s end at the time of debiting the amount from your account.

9. Will Mirae Asset Mutual Fund represent the failed/unsuccessful transaction as stated above?
No. At Mirae Asset Mutual Fund, there is no policy to represent the failed/unsuccessful transaction and that the units for the failed installment will not be re-instated.
10. What is the validity of the payment instruction presented for the i-SIP transaction date?
Kindly note that the payment instruction so presented to your designated bank A/c shall be valid for the period of 2 weeks (14days) from the date of stipulated ISIP date and post that for any non receipt of funds due to any reasons be it due to technical reason at the banks end or for any operational reason, the AMC reserves right to reverse such units so allotted,with the reason 'payment not recieved from banks'.
11. Can I keep track of my paid/ missed bills?
Yes. You can track your bills in the Bill History option provided by your bank.
12. How can I discontinue/cancel my i-SIP?
At any point in time you can discontinue the registration at bank’s end by deleting the bill. The deletion information will be passed to us while providing the reverse transaction feed.
13.Can i register the i-SIP through any bank?
1. Axis Bank.
2. Bandhan Bank.
3. Bank of Baroda.
4. Bank of Maharashtra.
5. Cosmos Bank.
6. City Union Bank.
7. Catholic Syrian Bank.
8. DCB Bank
9. Development Bank of Singapore.
10. Federal bank.
11. HDFC Bank.
12. HSBC Bank.
13. ICICI Bank.
14. IDBI Bank.
15. IDFC Bank.
16. Indian bank.
17. India Post Payments Bank.
18. IndusInd Bank.
19. Karnataka Bank.
21. Karur Vysya Bank.
22. Kotak Mahindra Bank.
23. Maharashtra Gramin Bank
24. NKGSB bank.
24. Punjab National Bank.
25. Ratnakar Bank.
26. Saraswat Bank.
27. Shamrao Vithal Co-operative Bank.
28. Standard Chartered Bank.
29. State Bank of India.
30. South Indian Bank.
31. Surat People Co Op Bank Ltd
32. Survoday Small Finance Bank
33. The Dhanalakshmi Bank.
34. Tamilnad Mercantile Bank Ltd
35. UCO Bank.
36. Ujjivan Small Finance Bank.
37. Union Bank of India.
38. Yes Bank.
14. What will be the treatment for NAV for i-SIP transactions?
All our esteemed Investors are requested to take note of the NAV treatment as under –


Sr.No Transaction Category NAV Applicability
1. Mirae Asset Cash Management Fund (Liquid Scheme) and Mirae Asset Overnight Fund irrespective of the value of the transactions. Internet SIP is an arrangement through the service provider and the respective bank. The NAV for such transactions as mentioned in Sr.No 1 and 2 will not be of the designated SIP Date.
For such transactions the NAV will be of the day when the funds are received by the scheme in its bank collection account through the procedural channels and as per applicable cut-off, which is generally after a lag of 3-4 days after the designated SIP Date.
2. All other schemes transactions which are of Value of any amount. Internet SIP is an arrangement through the service provider and the respective bank. The NAV for such transactions as mentioned in Sr.No 1 and 2 will not be of the designated SIP Date.
For such transactions the NAV will be of the day when the funds are received by the scheme in its bank collection account through the procedural channels and as per applicable cut-off, which is generally after a lag of 3-4 days after the designated SIP Date, for more details please click here .
 
Disclaimers & Risk Factors: This FAQ is prepared based on the understanding "How to Transact Online" for Subscription of Units of various Schemes of Mirae Asset Mutual Fund. This information is meant for general reading purposes only and is not meant to serve as a professional guide for the readers. The Sponsor, the Investment Manager, the Trustee or any of their respective directors, employees, affiliates or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information. Whilst no action has been solicited based upon the information provided herein, due care has been taken to ensure that the facts are accurate and opinions given are fair and reasonable. This information is not intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Readers are advised to seek independent professional advice, verify the contents and arrive at an informed investment decision before making any investments. None of the Sponsor, the Investment Manager, the Trustee, their respective directors, employees, affiliates or representatives shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way from the information contained in this material.

Statutory Details: Mirae Asset Mutual Fund has been constituted as a trust in accordance with the provisions of the Indian Trusts Act, 1882. Sponsor: Mirae Asset Global Investments Company Limited-Seoul, Korea; Investment Manager: Mirae Asset Global Investments (India) Private Limited; Trustee: Mirae Asset Trustee Company Private Limited. The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956. The sponsors are not liable or responsible for any loss resulting from the operation of the fund beyond the initial contribution made by them of an aggregate amount of Rupees One Lakh towards setting up of the fund.

Mutual fund investments are subject to market risks and there is no assurance or guarantee that the objectives of the scheme will be achieved. As with any investment in securities, the Net Asset Value (NAV) of the units issued under the Schemes can go up or down depending on the factors and forces affecting the capital markets. Investments in mutual funds are prone to risks of fluctuation in NAVs, uncertainty of dividend distributions etc. Past performance of the Sponsor / AMC / Mutual Fund / Trustee does not indicate the future performance of the Schemes of Mirae Asset Mutual Fund. Please read the respective Scheme Information Document for scheme specific details. Unit holders in the Scheme are not being offered any guaranteed / assured returns. A copy of SAI / SID / Key Information Memorandum cum Application form will be available at AMC offices / AMC website www.miraeassetmf.co.in / Investor Service Centre / Distributors on request.

Mutual fund investments are subject to market risks, read all scheme related documents carefully.