MF Insta-Invest - Terms and Conditions

MF Insta–invest facility is offered by Birla Sun Life Distribution Company Limited (‘BSDL’) to enable its customers on its website for on line transactions in the units of the mutual funds.

The MF Insta–invest facility is being enabled through a third party service provider who has entered into necessary agreements and link up with Banks for offering various facilities through the internet, which facilities and services including Net Banking and settlement facilities in respect of payment instructions initiated by the Investors using Online Banking Account. Accordingly, MF Insta-invest facility is available to those investors who hold bank account with these banks and has availed the facility for online payments / Net Banking.

This facility is made available with respect to select Mutual Funds only, with whom BSDL has entered into a separate arrangement and accordingly provides online platform to deal in the units of the scheme of these mutual funds that are existing / launched / offered by them from time to time.

By subscribing for the MF Insta-invest facility, you agree and accept to abide and bound by these terms and conditions. You further agree to execute all the necessary documents which may be needed from time to time to permit BSDL to send the necessary dealing details to the Mutual Funds to give effect to the dealings made through MF Insta-invest.

1. The Registration to the MF Insta-invest facility is subject to the satisfactory completion MF Insta-invest registration form and submission of all mandatory documents and valid Permanent Account Number (“PAN”) and its subsequent verification.
2. You shall provide BSDL with a copy of valid PAN or other details as may be prescribed by BSDL and BSDL will further get these details verified with the Central Depository Services (India) Limited (CVL) or any other authority that may be appointed for providing KYC verification from time to time.
3. Once BSDL gets a confirmation from CVL or any other relevant authority with respect to PAN and other details of such customers as required for the purpose of KYC, BSDL shall provide the registration for MF Insta – invest facility and shall communicate the user ID and password on the mobile number provided in MF Insta-invest registration form.
4. You agree and unconditionally confirm that you shall be solely responsible to ensure protection and confidentiality of the user ID and password and any disclosure thereof shall be entirely at your risk and accept the sole responsibility to maintain the secrecy of all information of confidential nature and shall ensure that the same is not disclosed to any other person.
5. You agree that BSDL may suspend / cancel / terminate the registration or all the services provided for the purpose of dealing, without liability, in whole or in part, at any time without prior notice if you do not comply with any of these Terms or any modifications thereof.

1. You grant authority to BSDL for giving effect to dealing requests made by you through the MF Insta-invest authenticated by the user ID and password and authorise BSDL to execute your instructions with regards to purchase /redemption / switch/sell or other transactions/ activities in respect of mutual funds on your behalf, as may be instructed by you from time to time, on the terms and conditions mentioned herein.
2. You agree and confirm that BSDL and/or its authorised representatives is not in a position to verify that the dealings are indeed undertaken by you at the time of dealing through the MF Insta-invest and BSDL shall be not held responsible for any transactions arising out of the misuse of the password by any person other than you.
3. You shall be responsible for the systems used by you with respect to dealings with BSDL and for various security measures which you have to take to prevent unauthorised access to details relating to the dealing with BSDL through the MF Insta-invest, and BSDL shall not be liable for any such unauthorised access.
4. You agree and consent to the transmission of data by electronic means through the MF Insta-invest with respect to dealing with BSDL.
5. You agree that the data provided by you pursuant to dealing with BSDL could be shared by BSDL with its authorised agents, representatives, affiliates, group companies and subsidiaries.
6. You agree that submission of a transaction request through the MF Insta-invest shall not be deemed to be acceptance of the transaction by Mutual Funds or its authorised registrar and the transaction could be rejected if does not comply with the provisions of the offer document / scheme information document of the respective Mutual Fund or for any other reason which BSDL/its authorised representatives/Mutual Funds deems fit.
7. BSDL does not guarantee any returns on investments made in Mutual Fund scheme(s).
8. Investments in Mutual Funds are subject to market and other risk. You are advised to read the offer document / scheme information document carefully for details on risk factor / terms and conditions before investing.
9. The transactions carried out through the MF Insta-invest in Units of various schemes offered by the Mutual Funds shall be subject to the provisions contained in the respective offer documents / scheme information document / addendum thereto.
10. You agree to comply with KYC (Know your Client/Customer) requirements as required to be complied with in order to use the MF Insta – invest facility, SEBI Act 1992, Prevention of Money Laundering Act, 2002, all laws and regulations including but not limited to the Foreign Exchange Management Act, Reserve Bank of India (RBI) guidelines, to the extent applicable for availing this services.
11. You agree to pay the transaction fees / service charges as specified on the website from time to time, which is subject to change without any prior intimation.
12. You acknowledge that dealing through the MF Insta-invest will be at your own risks. You shall solely be responsible to evaluate all the risks arising out of the same. The risks would, inter alia include:
    • Internet frauds - The MF Insta-invest may be susceptible to number of frauds, misuse, phishing, hacking and other actions, which could affect instructions sent to BSDL/its authorised representatives. There cannot be any guarantee from such internet frauds, phishing, hacking and other actions.
    • The susceptibility of the MF Insta-invest to virus(es) or other malicious, destructive or corrupting codes or programs.

1. The on line requests will be executed based on the instructions of customers registered for MF Insta - invest facility. Registered customers can only Purchase, Redeem and Switch Mutual Fund units through this facility.
2. You agree and confirm that all the authorised and complete transactions will be processed at the applicable NAV (as defined in the offer documents of respective schemes of Mutual Funds) subject to receipt of funds and acceptance of your transaction by the Mutual Funds.
3. You agree not to hold BSDL liable for any loss that may arise to you as a result of the incorrect NAV applied on units allotted to you by the Mutual Fund.
4. The money debited from your Bank Account shall be collected in the pool account of the third party service provider and from there it will be credited / transferred to the respective Mutual Funds either on the same day (in case the order is placed before the cut off time) or the next working day (in case the order is placed after the cut off time). Hence, You agree, understand and acknowledge that there would be an interim time lag in transferring / crediting the money from the pool account of the third party service provider to the respective Mutual Fund.
5. The units of the schemes shall be allotted, redeemed or switched, as the case may be, at the Net Asset Value (NAV) prevalent on the date of the transaction request by the Mutual fund, if the request for purchase, redemption or switch is placed before the cut-off time.
6. You agree that any transaction request falling due on a holiday or after the cut off time would be processed on the next working day and respective NAV would be applicable as per the Mutual Fund's offer document / Scheme Information Document.
7. Cut of time for the purpose of this facility means 1130 hrs Indian Standard Time for liquid schemes and 1400 hrs Indian Standard Time for other schemes. Holidays means banking holidays as applicable in Mumbai, India. The transactions once placed cannot be cancelled.
8. The cut-off timing mentioned above is prior to the statutory cut-off timing specified under the SEBI Regulations and the Scheme Information Document for operational convenience.
9. BSDL does not take any responsibility for any delay in acceptance / execution or non-execution / rejection of the order by the AMC. BSDL will be informed by the Mutual Funds for the rejection and customer will be informed accordingly.
10. You agree that there may be a time lag between the time a transaction is completed and before the same is updated in the records of BSDL/its authorised representatives. There may be a possibility of variances in values arising out of delayed data feeds, transmission losses in electronic data etc. for which BSDL/its authorised representatives shall not be liable.
11. You agree to maintain clear balance in your Bank Account at all times to cover the purchase price and other costs and charges / quantity of units. You are advised to check your daily fund transfer limits with your Bank before placing the purchase transaction / units held in the particular scheme before placing a redemption request.
12. In absence of sufficient funds (in case of purchase) / lesser quantity of units (in case of sell/ switch), BSDL shall not be responsible for the non execution / rejection of your instructions.
13. You agree that the payment for the transaction undertaken by the you through the MF Insta-invest will be facilitated through a payment gateway and BSDL/its authorised representatives will not be liable for any failures in the link or for any fraud (either payment gateway’s and/or bank’s end) that could take place at the time of at the time of making payment and you shall inform BSDL/its authorised representatives immediately if the your bank account is debited and wherein corresponding Units have not been allotted.
14. In case of rejection of your purchase request by the mutual fund, the amount will be credited into your bank account after the receipt of the refund from the relevant Mutual Fund.
15. Redemption proceeds and dividend payouts shall get credited directly by the AMC into your bank account provided at the time of registration for MF Insta –invest facility. Provided, the bank account provided by you is from the list of banks with which the Mutual Fund has a direct credit arrangement. The list of such banks is mentioned in the common application form of the respective Mutual Fund.
16. All the purchase transactions pertaining to mutual funds made on the website shall be allotted an online folio number and you will get the transaction account statement in electronic format.
17. You agree and acknowledge that you cannot execute any transaction of the mutual fund units falling under an online folio number directly with mutual funds. Any direct transaction request if any received by the Mutual Fund /or it Authorised Registrar will be rejected. Further, the Units purchased through on line mode can be redeemed through on line mode only.
18. You can get the online folio converted to an off-line folio through a duly signed written request, and a no-objection letter from BSDL and submitting such other documents as may be specified by the concerned Mutual Fund and their subsequent confirmation.
19. You can also covert existing folios to an online folio by giving a duly signed written request to convert such existing folios into online folios to Mutual Funds / BSDL in the specified format. The Offline folios will be converted into online folios after the subsequent confirmation of the same by the Mutual Fund to BSDL.
20. In the event of the termination of the agreement of BSDL with the Mutual Fund, you would cease to be customer of BSDL and shall not be allowed to execute through the website any transaction including but not limited to a transaction for Purchase, Redemption, etc of the Units of the Mutual Fund. BSDL shall make available all your details to the Mutual Fund, as are required by them to enable you to transact through the alternate method (Offline mode) with the Mutual Funds.
21. You agree that BSDL is offering MF Insta-invest and is eligible to collect service charges from you and that you have understood applicable service charges. The service charge is subject to change without prior notice and you consent to such changes, which may be made in future. You agree and understand that the BSDL’s charges/ fees are in addition to those levied by the Mutual funds and are non refundable. There may be applicable exit load/any other charge levied by the Mutual Funds will be chargeable in accordance with the offer documents.
22. Investments from residents in the United States of America and Canada are not permitted in certain mutual funds. BSDL shall not be liable for rejections of such applications by Mutual Funds, where investor is an US and Canada resident.
23. In case you are a NRI, you shall agree to submit a copy of a Foreign Inward Remittance Certificate ("FIRC") from the concerned authorized dealer/bank, in the event the funds for such Transaction/s are made from a Non Resident External (“NRE”) account.
24. This Facility is not offered nor is the Fund managed or intended to serve as a vehicle for frequent trading that seeks to take advantage of short term fluctuations in the market, hence you agree and acknowledge that the Mutual Funds or its authorised registrar in it’s sole discretion may reject any purchase or exchange of Unit that it reasonably believes may represent a pattern of market timing activity involving the funds of the Mutual Fund.

1. You agree to keep indemnified and hold BSDL/ its authorised representatives and its officers and agents free and harmless at all times, against all monetary and other harm, injury, costs, losses, liabilities, damages, charges, actions, legal proceedings, claims and expenses and consequences including without limitation any costs between attorney and client, whether direct or indirect, by reason of using MF Insta – invest facility / dealing with BSDL and/or doing and/or omitting to do anything in accordance with the Terms specified herein or any instructions relating to the dealing with BSDL other than liabilities caused as a direct result of BSDL’s negligence, knowing default, fraud or breach of the relevant applicable rules or of these Terms.
2. You agree that BSDL is not liable for any loss caused through a fall in value of investments / NAV etc which can go up or down depending on the factors and forces affecting capital markets or any any indirect, special or consequential loss you might suffer.
3. You agree not to hold BSDL liable for any loss or damage caused by reason of failure / refusal or delay of mutual fund to deliver any units purchased even though payment have been effected for the same or failure / refusal or delay in making payment in respect of any units sold though they may have been delivered and you shall save BSDL harmless and free from any claim in respect thereof. BSDL shall also not be liable for any delay, failure or refusal of the Mutual Funds or its authorised agent in registering or transferring units to your names of for any interest, dividend or other loss caused to you  arising therefrom. BSDL shall not be liable for any delay / refusal / non-payment of any proceeds on redemption or dividend payouts by the Mutual Funds to your accounts for any reason whatsoever.
4. You agree and undertake not to hold BSDL/its authorised representatives liable for the following:
   1. any delay or failure in processing the transactions carried out by the you due to any system failure or for any other reason whatsoever.
   2. for any loss or damage incurred or suffered by you due to any error, defect, failure or interruption in the dealing arising from or caused by any reason whatsoever.
   3. for any fraud, negligence/mistake or misconduct by you including failure to comply with the KYC or provision of a valid PAN.
   4. for any breach or non-compliance by you of these Terms.
   5. for not permitting you to deal with BSDL after such reasonable verification as BSDL/its authorised representatives may deem fit.
   6. for permitting any person who provides BSDL/its authorised representatives with the password to deal with BSDL. BSDL/its authorised representatives shall be under no obligation to further ascertain your identification at the time of dealing with BSDL.
   7. for any loss or damage incurred or suffered by you due to withdrawal or termination or suspension of the dealing facility by BSDL arising from or caused by any reason whatsoever.
5. You agree that this undertaking shall be valid until such time you have not expressly informed BSDL in writing that you do not wish to deal with BSDL any longer and it shall be also valid in respect of any claims made on account of or relating to your dealing with BSDL.
6. If the foregoing limitation is held to be unenforceable, the maximum liability of BSDL and its service providers to you shall not exceed the amount of fees / service charges paid by you for availing the services through the Website.

1. BSDL may, at its sole discretion, at any time suspend / disallow the facility for such reason and for such time period as it may deem fit like inactive / dormant user id, non-compliance of the terms stated herein, death, insolvency, bankruptcy of the investor, any other cause arising out of the operation of law or such other reason as BSDL deems proper.
2. BSDL may terminate this facility by giving you one month’s intimation. You may terminate dealing with BSDL at any time by giving prior written notice to BSDL/its authorised representatives or deactivation of your user id and password.
3. In the event of termination for any reason whatsoever, BSDL shall be entitled to recover all outstanding charges and dues from you, if any.
4. In case you cease to be a customer of BSDL, then the BSDL shall provide all your details to the Mutual Fund and as are required by them for the protection of the your interest as a Unit holder and to enable you to transact with them through the Offline mode .

BSDL may amend these terms and conditions for such reason as deem fit and proper including but not limited to comply with changes in law or regulation, correct inaccuracies, omissions, errors or ambiguities,  reflect changes in the process flow, scope and nature of the services, company re-organisation, market practice or customer requirements.

The intellectual property in all material provided on the website (excluding any applicable third party materials)   is held by BSDL unless otherwise stated. Except as expressly permitted herein or on the website, none of the material provided on the website may be copied, reproduced, distributed, republished, downloaded, displayed, posted, transferred or transmitted in any form or by any means, including, but not limited to, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of BSDL. Further, you  shall not transfer, reverse engineer, decompile, disassemble, modify or create derivate works based on the materials provided on the Website except as permitted herein or by law.
The copyright, trademarks, service marks, registered designs, database rights, patents and all similar rights in and relating to the website arising or subsisting in any country in the world and the information contained in it are owned by BSDL, its licensors or relevant third party content providers. Nothing on the website should be construed as granting, by implication, estoppel or otherwise, any license or right to use any trademark displayed on the website without the written permission of BSDL or its relevant affiliate.

You also agree not to use any information available on BSDL website for any unlawful purpose, and you shall comply with any request of BSDL or any of the third party providers to protect their respective rights in the information.

1. The data, reports and information provided on the website of BSDL does not constitute an investment advice and therefore should not be relied upon while taking investment decisions. You are therefore advised to obtain applicable legal, accounting, tax or other professional advice or services before taking an Investment decision.
2. This service does not constitute an offer to buy or to sale or a solicitation to any person in any jurisdiction where it is unlawful to make such an offer or solicitation.
3. BSDL is not responsible for any omissions, errors or investment consequences arising from the use of this material available on the website of BSDL by you.
4. Whilst every reasonable precaution has been taken to ensure the accuracy, security and confidentiality of data and information available through the MF Insta-invest, BSDL shall not be held responsible for any consequence of any action carried out by you.
5. BSDL may suspend or withdraw MF Insta-invest at any time, and you acknowledge that the MF Insta Invest is also subject to interruption for reasons beyond BSDL’s control.
6. MF Insta – invest facility is linked to the backend infrastructure of a third paty service provider / Bank etc. You acknowledge and agree that BSDL’s Website and the linked the backend infrastructure may be inaccessible and/or unavailable at times. In such an event BSDL will not be liable for any damage, liability, action, cause of action, suit, claim, demand, loss, cost, and expense arising directly or indirectly from or in connection with such system inaccessibility and/or unavailability.
7. BSDL makes no express or implied warranty:
   1. that the dealing with BSDL through the MF Insta-invest will be uninterrupted or free from errors or that any identified defect will be corrected;
   2. that the MF Insta-invest service is free from any virus or other malicious, destructive or corrupting code, program;
   3. in relation to non-infringement of any third party rights, merchantability, satisfactory quality or fitness for a particular purpose.
8. BSDL shall not be liable for any loss or damage or other consequences arising from any suspension, breakdown, withdrawal, interruption, technical flaw, the presence of virus or other malicious, destructive or corrupting code, programs over the MF Insta-invest or otherwise and any consequent delay or failure in completion of any payment or other instructions as a consequence thereof arising from the use or inability to use the MF Insta-invest.
9. BSDL  shall not be liable for any failure to perform any of its obligations or service standards etc if the performance is prevented, hindered or delayed by a Force Majeure Event, which  includes any event due to any cause beyond the reasonable control of BSDL  including, without limitation, unavailability of any communication system including Internet, breach or virus in the processes or payment mechanism, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, breach of security and encryption codes.

BSDL shall make reasonable efforts to keep all the information relating your dealing with BSDL confidential. Provided however that BSDL shall be entitled to disclose any information or particulars pertaining to you to any authority, statutory or otherwise as may be required by law or third party service provider   required to effect the transactions requested by you.

Governing Law and Jurisdiction