Grab Your World of Financial Thoughts

You now know how to use “Mental Index Card” to present all your important financial thoughts to yourself. Also you know how to be in “Alpha Mind” so that you can get more from the power of your subconscious mind. That’s good, but how will you remember all your important financial thoughts which comes throughout the day?


Information is a source of learning. But unless it is organized, processed, and available to the right people in a format for decision making, it is a burden, not a benefit. – William Pollard

You need right tools to grab your world of financial thoughts. As and when there is an important financial thought pops up, you should be in a position to record the same.

Below are few excellent tools which can be very handy:

Evernote: This is one of the most popular note-taking applications available. With Evernote you will be able to fulfill all your note taking requirements. In addition to the text notes you can upload images, upload PDF, maintain links and even take audio notes. Evernote stores all your contents in Cloud, so you do not have to maintain your local copy. Evernote is not only available in mobile platforms like Android, iOS or windows phone, it also available for your PC and for your browsers. This means it has multi platform support and hence you can access your Evernote account from any device and from anywhere.

Google “Keep”: It helps to take notes, make lists, capture audio notes and store images. It has mobile application, also has web version. With your google account you can access your “Keep” from any device.

Microsoft OneNote: This is available for Windows computers, Windows Phones, iPhones, iPads, Androids; you can also use the free Office Web App in most web browsers. You can share your notes with other person via a shared link, this is helpful when you work as a team.

With any application mentioned above, you can start taking notes on your important financial thoughts. This will also will help you in the later time when you will access your notes to understand how your mind works with respect to personal finance.

Alpha Mind State for your important Financial Thoughts

Alpha Mind State is a state where our mind is relaxed and aware. While in this state we are able to use power of our subconscious mind. And hence we are more aware of everything, we are more creative and we are able to take better decisions. Meditation is a way through which we can reach Alpha Mind State. With the help of a trained instructor we can learn how to reach Alpha Mind State.

Interesting thing is unknowingly sometimes we go into Alpha Mind State even though we are fully awake. It happens when we are doing some tasks which does not demand much of our concentration/complete mind awareness.

For instance one of our friend loves to clean the dishes, according to him it helps him in two ways; one is his wife is happy that he is helping her and the other one is, since cleaning dishes does not require much of his brain hence while doing this he is able to solve many complex problems. Doing it he says, he is able to concentrate more; this is because not many thoughts go around due to his body and brain involvement in the cleaning task.

One more example is another friend of mine does ironing by himself. He feels, while doing ironing he comes up with many great ideas which he is able to apply in his life and gets really great results.

All the above are examples of Alpha State of Mind. Which means while doing some of our day to day work also we can go to this Alpha State of Mind and use the power of our subconscious mind.

Now some of you might be thinking that I also do similar kind of works but I never used my subconscious mind; why? The answer is, when you go to Alpha Mind State you should be very clear with your problems/goals of life. That means you should have thoughts coming to your mind during that Alpha Mind State which are really meaningful for you. As we discussed in our earlier article, if you have your Mental Index Card ready, you can have all your meaningful thoughts. We suggest you to go through our previous article to get more benefit of Alpha Mind State.

So what all activities you can do to go to Alpha Mind Set:

  • Meditation
  • Gardening
  • Listening to songs (recommend only musical instrumental such as “Bach Music Therapy”)
  • Any activity where you do not have to use your complete brain and you feel relax

For more on Alpha Mind you can visit

New Experience – HDFCLife Virtual Assistant

As mentioned in our earlier article “Due to mobile phone penetration and good network availability, banking sector is now constantly working on innovative products for their customers. “. HDFC Life introduced their Virtual Assistant “Elle”.

What is Virtual Assistant?

As per wikipedia “A virtual assistant is a software agent that can perform tasks or services for an individual. Sometimes the term “chatbot” is used to refer to virtual assistants generally or specifically those accessed by online chat (or in some cases online chat programs that are for entertainment and not useful purposes).”

HDFC Life’s Elle is a Chatbot. Elle can help you to:

  • Check Fund Value
  • Check Units
  • Premium Amount
  • Premium Due Date
  • Premium Frequency
  • Premium Receipt
  • Sum Assured
  • Payment History
  • Annual Premium Statement
  • Annual Unit Statement

As per Wikipedia “A chatbot (also known as a talkbot, chatterbot, Bot, IM bot, interactive agent, or Artificial Conversational Entity) is a computer program or an artificial intelligence which conducts a conversation via auditory or textual methods.[1] Such programs are often designed to convincingly simulate how a human would behave as a conversational partner, thereby passing the Turing test. Chatbots are typically used in dialog systems for various practical purposes including customer service or information acquisition. Some chatterbots use sophisticated natural language processing systems, but many simpler systems scan for keywords within the input, then pull a reply with the most matching keywords, or the most similar wording pattern, from a database.”

How to generate Aadhaar Virtual ID?

UIDAI (Unique Identification Authority of India) has launched Aadhaar Virtual ID for your existing Aadhaar Number. Which when you generate, this random Aadhaar Virtual ID will be mapped to your existing Aadhaar Number.

Why we need Aadhaar Virtual ID?

– This is one more step by UIDAI to provide one extra security layer of Aadhaar. When you generate this Virtual ID for your existing Aadhaar, UIDAI will create a random 12 digit number for you and this number will be mapped to your Aadhaar Number. Now when you are suppose to give your Aadaar number for any verification to any agency, you can give this Virtual ID (12 digit number), in this way you will not disclose your actual Aadhaar Number.

Is this Aadhaar Virtual ID accepted by all service provider?

– At present no. UIDAI made mandatory for all the agency that undertake the authentication to accept Aadhaar Virtual ID from June 1 2018. At present you can use this Aadhaar Virtual ID for to update address in Aadhaar online.

How to generate Aadhaar Virtual ID?

– Login to UIDAI site by clicking here. Select Virtual ID (VID) generator as below.

Provide your 12 digit Aadhaar Number and the mentioned security code as below. Then select “Send OTP”, once you get the OTP in your registered mobile, enter the same in the “Enter OTP” field and select “Submit”.

Your Aadhaar Virtual ID will be generated and send to your register mobile.


Should you lend money to your Friend and Relatives?

“Helping hands are better than Praying Lips” – Mother Teresa

 Yes we should always help our friend and relatives financially if there is actually a need. It should not be the case that with borrowed money from you, your friend/relative is fulfilling their wants. Consider below points before lending money to your friend and relative:

1. Try to find out why he/she needs the money:

Ask all the related questions and find out the actual reason why he/she needs the money. Validate the reason with someone else and repayment capability. Otherwise the repayment issue might lead to a relationship breakup.

2. Do not hamper your own finance:

While trying to help your friend/relative, you should not compromise on your own goals. You are responsible for your personal finance; hence do not take any risk. In case you are willing to lend, then make sure you have enough cash/investments which will save you if borrower fails to repay.

3. Help them to get loan from financial institutes:

Help him/her to identify the financial institutes from whom he/she can take a loan. He/she can take a personal loan or loan against FD or Gold loan etc.

4. Do not lend if you are not comfortable:

It’s ok; if you are not comfortable of lending then you can convey this message to the borrower, such that he/she should understand.

5. Lastly Follow Up:

If you finally lend money to your friend or relative, then make sure that you follow up for the repayment. Because most of the borrowers do not show any urgency for the repay. Since it is your money, you have to do the follow up.

As this is your money and you know better about your financial goals, take your own call whether to lend money or not. Above points will help you while taking this decision.

Reasons Why You Should Budget Your Money

“A budget is telling your money where to go instead of wondering where it went.” – Dave Ramsey

Many a times people say they do not have money left for saving at the end of the every month. When you ask why they will say, man you do not know things are getting expensive or somehow some important expenses come up every month which eats up everything etc. You can see people despite having good income they struggle to save enough. Most of these people do not a have clear idea what their expenses are and the result is financial disaster.

That’s why budgeting is very important if you want to keep track your hard earned money and committed to your long term goals.

Budgeting will help you to:

  • Categorize and allocate expenses, which will help you to organize your spending and spending
  • Helps you to set your priorities
  • Helps you to understand where your bulk money goes
  • It will give a more control over your money
  • Keeps you focused on your financial goals and helps you to reach your goal faster
  • Alert you in advance if there is a potential problem
  • Helps you to decide whether you can take loan and how much

So, how to make a budget?

  1. Create a monthly Cash-Flow statement: Here you are going to capture all your income per month from all the sources and all your monthly expenditures. Below is an example:
Per Month Cash Flow Statement  
Income Amount
From my salary 60000
From my spouse salary 30000
From other source 10000
Total Income (A) 100000
Expenditure Amount
EMI 45000
Food 10000
Utility 5000
Entertainment 4000
Clothing 2000
Insurance 8000
Total Expenditure (B) 74000
Surplus (A – B) 26000

From the above cash flow statement you will be able to understand your money movements. This will give you a clear idea how much surplus you have each month and then you can plan your saving & investments accordingly.

2. Categorize income and expenses based on your cash flow statement:

You can categorize your income as follows:

  • Salary
  • Bonus
  • Part time work

You can categorize your expenses as follows:

  • Food : Groceries, Restaurant
  • EMI: Home, Car
  • Automobile: Fuel, Insurance, Maintenance
  • Household: Rent, Maintenance
  • Insurance: Life, Health
  • Kid: Activity, Education
  • Utilities: Water, Cable TV, Electricity, Internet, Paper, Mobile bill
  • Personal: Books, Cloths, Personal care, Gift
  • Entertainment: Movies, Party
  • Travel: Hotel, Taxi, Airplane

3. Create a budget spreadsheet: You can use the below example:

Item Budgeted This month Actual this month
Food 11000 10000
EMI 45000 45000
Automobile 5000 7000
Household 5000 4000
Insurance 7000 7000
Kid 8000 9000
Utilities 6000 6000
Personal 3000 2000
Entertainment 3000 2500
Travel 2000 1800
Total Expenditure 95000 94300
Income   110000
Surplus   15700

4. Analyze your budget regularly: Firstly you will be aware of your spending pattern. This will help you to discover any unnecessary expenditure, which can help you to achieve your goals. Also you will be able to analyze your debts so that you can prevent yourself to be in debt trap.

5. Improvise: You can always tune your budget. As you move forward in life, your requirements and priorities will be changing and hence based on these you should adjust your budget also.

6. Finally invest what you save: To beat the inflation you must invest and hence with your surplus money you should plan your investment properly.

Always remember the below formula:

Your Income – Saving/Investment = Your expenditure.

This means you should plan your budget such that first save/invest from your income and the left-out money you should use for your expenditures.

Tips on sticking to your budget:

  • Use cash: I know everyone is going digital, but if you use cash for all your expenditure it will help you to stick to your budget. When you use cash and you spend, you can feel that money is going out from your pocket, which is not the case with plastic money.
  • Reward yourself: Every end of the month when you have successfully executed your budget, you can give a treat to yourself. This will give you the boost to stick to your budget.
  • Self discipline: Use your credit card properly and pay the entire money every month on time. Withdraw cash as per your budget and spend as your plan.

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Personal Financial Portfolio life cycle:

Step 1: Awareness

Step 2: Present Financial Status

Step 3: Goal Setting

Step 4: Planning

Step 5: Plan Execution

Step 6: Plan Evaluation

Step 7: Financial Achievement

Step 8: Asset Transfer

Want to know why we FAIL financially!!!

“Would you tell me, please, which way I ought to go from here?”
“That depends a good deal on where you want to get to.”
“I don’t much care where –”
“Then it doesn’t matter which way you go.”
― Lewis Carroll, Alice in Wonderland

The above quote from Alice in Wonderland is very true in every aspect of our life. You see if you do not know where you want to go or what you want to achieve financially or what you want to be; then it does not matter which path you choose.

That’s why GOAL is very important, when you have a goal in mind it is easier to appreciate the benefits of what you are doing. And the absence of GOAL is directly proportional to “why we fail financially”.

“Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins

Having goals make life great, it gives us a meaning, motivates and builds energy.

Most of the time we think we have our goal set such as “I want to be Rich”. “I want to be Rich” is a statement; you can also say it is a vision statement. It does not qualify as goal. It does not state “what is meant by Rich”, “how much assets you have to be qualified as a Rich”, it does not give us a reason or purpose behind this. Hence it is also important to know how to set a GOAL.

“Goals transform a random walk into a chase.” – Mihaly Csikszentmihalyi

First you have to create the “big picture”, what you want to do with your financial life and then separate these into little and little focuses. The best way to set your financial goal is to make your goals SMART.

       S            : Specific

      M           : Measurable

      A            : Adjustable

      R            : Realistic

      T            : Time bound

Specific: You should ask yourself whether your goal is specific or not. You should know why this goal, for whom is this goal  for, why do you want to achieve this goal, the purpose and benefits behind this goal? Hence the goals should be like:

I want to make 1 Crore as my asset within next 10 years.

“People with goals succeeded because they know where they’re going.” – Earl Nightingale

Measurable: Once you set your goal, you should start working on it. To understand whether you are working towards your goal or not, you should be able to measure it. That’s why the goals which can be measured are successfully achieved. For example if you want to save 2,00,000 for down payment of your car within 1 year, you can measure each month whether your savings are on track or you need to increase your saving or relax.

Adjustable: There are uncertainties in life, due to which your financial goals can get affected. That’s why the goals you set should not be so strict that you cannot adjust it. Let’s say you have a plan for long foreign vacation after 2years and for which you started saving towards this goal. But just before the vacation you came across some urgency for which you have no choice to use your vacation money.

Realistic: You just like that cannot set some random and unrealistic goals. The goals should be based on your ability so that you can really achieve your goal. You should always work on your earning ability so that you can achieve higher things in life, but while setting your goal you should be realistic.

Time bound: Without a timeline, it is impossible to plan and measure your goal. If you have a timeline set for your goal, it helps you to determine how much you have to save/invest each month and for how long. When you set a timeline, you bring discipline into yourself which makes you to succeed in achieving your goals.

Once you determine what you want your financial life to be after 1 year or 5 years or 10 years or even 20 years, it will definitely affect what you do today. In other way, the things you do today will determine what you will be after 1 year or 5 years or 10 years or even 20 years. Hence set your goal SMARTly, since it has a cost associate with today.

“Stay focused, go after your dreams and keep moving toward your goals.” – LL Cool J

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Personal Financial Portfolio life cycle:

Step 1: Awareness

Step 2: Present Financial Status

Step 3: Goal Setting

Step 4: Planning

Step 5: Plan Execution

Step 6: Plan Evaluation

Step 7: Financial Achievement

Step 8: Asset Transfer

Download your EPF statement using UMANG Application

As you know UMANG (Unified Mobile Application for New-age Governance) mobile application is developed by Ministry of Electronics and Information Technology (MeitY) and National e-Governance Division (NeGD).

Now it is very easy to download your EPF (Employee Provident Fund) statement using this amazing application “UMANG“.

Follow below simple steps to download your E-PF statement:


Step 1: Open the UMANG application and select EPFO icon as below:

Step 2: Select Employee Centric Services as below

Step 3: Select View Passbook option as below

Step 4: Provide your UAN number and select option “Login”, you will get OTP in your registered mobile number.

Step 5: Enter the OTP which you have received

Step 6: Select the link which appears in your screen as below

Step 7: You will be able to see all the details of your E-PF account. Scroll down the screen to see the complete information

Step 8: Select the Download option to download your E-PF statement as below

Everything about investing via MF Utility

MF Utility is a “Transaction Aggregating Portal” which facilities to open “Common Account Number (CAN)”, which enable investor to invest in mutual funds by different AMC’s through a single account. MFU offers 24/7 information access includes Online Common Account Statement, Composite Portfolio information, Portfolio holding and scheme related information.

MF Utility (MFU) provides a whole lot of features to the Mutual Fund customers like (Source: ):-

  • Provides Common Account Number (CAN) facility to Investors
  • Facilitates KYC registration through KYC Registration Agencies (KRAs) for CAN creation
  • Provides standardization of forms, processes and MIS across the industry
  • Provides multiple modes of access and transaction submission options
  • Provides broad and neutral Points of Service (POS) footprint for enhanced coverage
  • Enables transactions through a common transaction form
  • Enables single payment for multiple scheme investments across various Mutual Funds
  • Accepts payments through various physical and electronic modes
  • Provides CAN based consolidated view of investments across the industry
  • Provides industry level alerts, triggers, reminders etc.
  • Provides a centralized complaint management and tracking system

What is CAN?


CAN (Common Account Number) is an industry level Folio allotted by MF Utility (MFU) to an investor. It is a combination comprising of the following:-

Number of Investors i.e. 1 or 2 or 3

Order of holding i.e. A; A&B; A,B&C; B; B&A; B,C&A; C; C&B; C,A&B; and so on

Mode of holding i.e. Single, Joint and Anyone or Survivor

Social (Tax) Status i.e. Individual, Company, Non-Resident etc.,

Using a CAN, the investors will be able to submit single request for multiple transactions in various schemes across Mutual Funds using a single form/payment.

Below are the AMCs with whom you can invest in mutual funds through MF Utility:

How to create a CAN (Common Account Number) Offline?

KYC (Know Your Customer) compliance is compulsory for CAN creation. MF Utility (MFU) facilitates KYC registration for investors along with creation of CAN. Download below forms from MF Utility Site:

  • CAN Registration Forms
  • KYC Registration Forms
  • PayEezz Registration Form

Filled forms should be signed and submitted along with the required documents at any of the MFU Points of Service ( ) or sent to the MFU Office ( at Thane for the purpose of opening CAN.

Submit necessary documentary proof as listed below for the information provided in the respective sections of the CAN registration form:

  •     PAN proof where PAN is provided
  •     Proof of KYC for all applicants
  •     Proof of Date of Birth for all applicants
  •     Proof of Bank Account for Bank Mandates registered under the CAN
  •     Proof of Depository Account for Depository accounts registered under the CAN
  •     Proof of Guardian relationship (in case of Minor applicants)

How to create an eCAN (Common Account Number) Online?

Eligibility criteria for an Individual investor are:


  1. are KYC compliant (other than eKYC) through any of the KYC Registration Agencies (KRA) / CERSAI (CKYC); (AND)
  2.  a. already have an active folio with any of the AMCs participating in MFU and are registering ONLY the bank account(s) which is/are already registered bank account(s) in any of the active folios held in the participating AMCs (OR) b. do not have any investments in the AMCs participating in MFU

can complete the process of eCAN registration completely ONLINE, by uploading the required document proof(s) through the link provided as part of the confirmation email from MFU and there is no need to submit any document physically/later.

Note: Make sure pop-up blocker is deactivated in your internet browser.

Step 1: Go to eCAN online form site here and select “New Form” as below:

Step 2:

Select “Choice of eCAN registration” from the drop-down and select “Completely Electronic”. Leave blank for “ARN / RIA SEBI REGN No” and “EUIN”. Select appropriate “Tax Status” such as “Resident Individual”. Next is “Holding Nature”, options are “Single”, “Joint” & “Anyone or Survivor”. If you are married and you wish to include your spouse as the second holder of all your mutual fund investments, it is better to choose “Anyone or Survivor” option. This will help you later financial formalities if you do not have any WILL. Hit Save and select Next.

Step 3:

Please fill all the basic details such as Name, DOB, PAN, Aahaar, Moibile number, E-mail. Update all the additional KYC details and FATCA details. Once done Hit “Save” and select Next. If you have selected “Joint” or “Anyone or Survivor” option then in the next step you have update the similar details for the other holders also.

Step 4:

Here you have to provide your Bank Details which you want to register under CAN. At max you can add 3 bank accounts under a CAN. Also select the appropriate “Bank Proof”, as you have to provide this proof once you submit the CAN request. Once done Hit “Save” and select Next.

Step 4:

Update the nominee details. Select “I Agree to the eCAN Terms”, “Save” and “Submit for eCAN”.

Upon clicking ‘Submit for eCAN’ you will be provided with validation errors/warnings, if any and you may have to rectify them and submit again. If there are no validation errors/warnings, the data will be accepted for further process and you will be provided with a PROVISIONAL CAN instantly.

If your eCAN request is successful you will get the following message. The proof documents can be uploaded immediately by selecting “click here to upload the proof documents” button.

You also will get the above confirmation via mail and you can upload the proof documents later also via the link provided in the mail. You should upload the relevant document proof(s) as stated in the email, in the respective image formats. The CAN will be approved and activated for further transactions, after necessary validations / verifications at the MFU office. In case the information / details / proofs / images (including signatures) either submitted by you / sourced by MFU from the KRAs / CERSAI / RTAs does not satisfy the requirements of “Completely Electronic” eCAN, the record will be converted to “Partially Electronic” eCAN and an email will be sent to the registered email ID of the Sole / Primary holder along with a pre-filled “eCAN Registration Form”, which needs to be printed and duly signed by all the holder(s) / guardian and submitted along with the necessary documentary proof(s), to a MFU authorized entity or a MFU Point of Service (POS) for further processing. The CAN will be approved and activated for further transactions, upon submission of the physical documents as stated.


What to do next once you  have Ssuccessfully submitted your “eCAN Application” and uploaded “proof documents”?

Wait for two weeks. If everything is fine then you will get a confirmation mail from MF Utility with subject “Allotment of Common Account Number (CAN)”. It will contain two attachments; CAN allotment letter and CAN registration summary.

  • If you do not get any confirmation from MF Utility within two weeks:
    • Call Toll Free: 1800 266 1415 number and ask for the status of your allotted CAN.
    • Write a mail to [email protected] and ask for the status of your allotted CAN.
  • You can also check what is the status of your CAN application form online:

Go to and provide the Primary Holder’s Mail Id which you have given while filling the eCAN form and select “Look Up” option. A verification mail will be sent with the verification code to the given mail id. Enter the verification code; this will lead to following screen. You can see “i” icon, select that icon; you will the current status.

What to do once you get the CAN confirmation mail from MF Utility?

Post allotment of CAN, you need to request for online access by sending an email to [email protected] after which you will be given an username and password. Once you have user name and password, login to

Important Note while creating your “Username” and “Password”: When asked for security question and answer, make sure you remember these information, as once you update there is no way to change these security questions & answers.

For SIP transactions you have to register PayEezz. So how to register PayEezz?

  • Download the PayEezz form from -> Forms -> PayEezz Form. Fill the form with your registered CAN number and your Bank Details. Where PayEezz is registered under an existing CAN, investors should submit a cancelled cheque (or a self-attested photocopy) with the name and account number pre-printed on the cheque along with the PayEezz form. If the cheque does not bear the sole/first/primary holder’s name, a copy of the passbook/bank account statement or a letter from the banker has to be submitted which indicates that the sole/first/primary holder is one of the account holders in the account.
  • PRN (PayEezz Reference Number) is the unique reference number allotted to each PayEezz registration. The same will be communicated to the investor/distributor upon successful registration of the PayEezz.
  • To get more information on PayEezz please check here .

How to buy mutual funds through MF Utility portal?

Note: Make sure pop-up blocker is deactivated in your internet browser.

Login to with your user name and password.

Once you are logged in you will land to your home page. If you have already invested via Mutual Fund Utilities, you will see your home page as below:

To invest in Mutual Funds Direct Plan, you have to select “CAN Transaction” option as shown in below picture. Here you will have 6 options:

Option 1 is Purchase:  You will choose this if you want to invest one time.

Option 2 is Redeem: You will choose this if you want to redeem few/all units from your existing mutual funds.

Option 3 is Switch:  You will choose this if you want to Switch from one fund to another fund with the same AMC.

Option 4 is SIP: You will choose this if you want to start a Systematic Investment Plan.

Option 5 is STP:  You will choose this if you want to start a Systematic Transfer Plan.

Option 6 is SWP:  You will choose this if you want to start a Systematic Withdraw Plan.

How to use “Purchase” Option to invest in Mutual Fund Direct Plan one time?

Step1: In ARN/Transaction Entry Details, select “Direct” option as below and “Proceed”.

Step 2:

In Transaction Details: Select AMC name, Folio number as “New”, select Scheme Name and Amount, then select “Proceed”.


Skip Depository AC details, select “Proceed”.

Step 4:

In this step you have to select the payment option and “Submit” your request.

What is CaRT?

As per information provided in MF Utilities site “Create and Retain Transaction (CaRT) is a facility where frequently ordered transactions can be created and retained as a template to be executed later whenever desired by a SINGLE CLICK. Every such CaRT template can be identified by an exclusive CaRT Name.

    If some funds are expected to be available for investment on a future date, a purchase transaction can be added to the CaRT to be placed later using this facility.

    If there is a future cash out flow, a redemption transaction can be added to the CaRT to be placed later using this facility.

For more information on CaRT, please click here

What is CaST?

As per information provided in MF Utilities site “Create and Schedule Transaction (CaST) is a facility where a Distributor / RIA can create and schedule a transaction to be executed on a defined future date to better manage future cash flow situations. For e.g.

    If some funds are expected to be available for investment on a future date, a purchase transaction can be scheduled to be executed on an appropriate date to utilise those funds using this facility.

    If there is a planned cash out flow (payments like EMI, rent, premium etc.) on a future date, a redemption transaction can be scheduled to be executed on an appropriate date.

Currently, the scheduled date of the transaction should not be beyond 5 years.”

 For more information on CaST, please click here.

How to use “Redeem” option?

Select your existing fund information, Redeem Option (All units or Specific Amount or Specific Units) and “Submit”.

How to use “Switch” Option?

Select your existing fund information: AMC, Folio No and Switch-Out Scheme. Now select the new Scheme “Switch-In Scheme”, you can select “All Units or Specific Amount or Specific Units” to switch. DO NOT select “Allot in Depository” from “Depository AC Details” and “Submit”.

How to use SIP option?

Note: For investing via SIP, you need to have PayEezz registered and the PayEezz reference number.

Step 1: Select “Direct” option in “ARN/Transaction Entity Details” and “Proceed”.

Step 2:

Select the AMC name, Folio number as “New”, Scheme Name, Amount (which you want to invest as per your selected Frequency), Frequency as “Monthly or Quarterly”, Instalment Date/Day (As per the option available, make sure the instalment start date and month is at least 15 days away from today). At last select the Start Date and End Date.

Step 3:

In the payment details there are two sections. In the first section “Current Dated 1st Instalment Details”, you have to provide all the details so that the first instalment will get paid. In the second section you have to select the PayEezz reference number.

When you sign SIP mandate you provide the tenure, such as 5 years/ 10 years etc in the end-date column. In case you leave this column blank then mutual fund house assume this SIP will continue till December 2099. This is called Perpetual SIP.” Select this Perpetual option as per your interest.

How to use STP option?

Select your existing liquid fund from where you want to do STP “STP-Out Scheme” and choose your “STP-In Scheme” and other details.

How to use SWP?

Select your existing fund information and “Withdraw Option”, “Amount”, “Frequency”, “Installment Date/Day”, “Start Date” and “End Date”.

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How to invest in Mutual funds Direct Plan?

Congratulation!! You know why Mutual Fund Direct Plan is better than a Regular Plan. You can read our article on the benefits of Direct Plan HERE.

Before you invest in Mutual Fund whether in Direct Plan or Regular Plan, you have to complete your KYC (Know Your Customer) formalities. SEBI requires investors to ensure compliance with the KYC norms when they initiate a transaction with any Mutual Fund house.

The Government has appointed the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) to establish a central KYC registry, which simplifies the process of complying to KYC procedures  —  and you need to do it just once; either with a bank, mutual fund, or an insurance company that you’ve invested in.

Get KYC done Offline:

You can visit CAMS-KRA website, download the KYC form and submit the same in pan India network of Customer Service Centers (CSCs). Customer service center locators are present in the website.

Get KYC Online:

  • You can visit CAMS eKYC site and avail the online facility. CAMS eKYC is a paperless Aadhaar-based process for fulfilling KYC requirements to start investing in Mutual Funds. SEBI has recently allowed Aadhaar-based KYC to be used for MF investments, for the convenience of investors. Investors completing KYC through OTP based CAMS eKYC are permitted to invest ₹50,000 Mutual Fund per year. KYC completion using biometric verification permits investments without any upper limit. Investors can avail Biometric CAMS eKYC at CAMS service centres.
  • This is the best way to get your KYC done without physically visiting to any place. This facility is provided by Quantum Mutual Fund House. Follow below steps to get your KYC done
    1. Visit and enter your PAN number. It also checks if your KYC is already verified.
    2. Enter your personal details along with your Aadhaar number and on the next page further details for Central KYC purpose.
    3. Upload self-attested scanned copies of your pan card and address proof. And for the signature, you need to sign on a plain paper piece of paper and place it in front of the camera and capture it.
    4. This is In Person Verification (IPV). Unlike the physical verification, here your live video is recorded through your device camera.
    5. In this step confirm all your information and submit it. Lastly, all you need to now is wait for 2 weeks while your KYC will be uploaded on Central KYC servers and will be verified during this time period. Further, you will also get a confirmation e-mail about your KYC Status. After the entire process is done, you will receive a 14-digit identification number- KIN (KYC Identification Number)

How to check KYC status?

Please check your KYC status HERE.

How to invest in Mutual Fund Direct Plans?

  • Respective AMC websites: Once you have decided in which fund to invest, you can visit the corresponding AMC websites and invest in direct plan. If you have selected multiple funds, you will need to register and invest in each fund house individually. This can be inconvenient if you have a number of schemes from different fund houses.
  • Mutual Fund Utilities: Mutual Fund Utilities ( is a shared platform of different fund houses. Here you have to create Common Account Number (CAN) and then start investing in different fund houses form a single account. As of Dec 2017 it supports 28 mutual fund AMCs and once you have an account with MFU you can invest across all these fund houses seamlessly.
  • CAMS & KARVY: Registrar and Transfer Agent are the one who handle transactions on behalf of mutual funds. There are four RTAs in India. CAMS, KARVY, Templeton RTA serves Franklin Templeton Mutual Fund and Sundaram RTA serves Sundaram Mutual Fund. Both Karvy & CAMS offer online investment through their website and Apps. Mutual fund AMCs supported by CAMS & KARVY are as below:

Axis Mutual Fund

Baroda Pioneer Mutual Fund

BOI AXA Mutual Fund

Canara Robeco Mutual Fund

DHFL Pramerica Mutual Fund

Edelweiss Mutual Fund

Franklin Templeton Mutual Fund

IDBI Mutual Fund

Indiabulls Mutual Fund

INVESCO Mutual Fund

JM Mutual Fund

LIC Mutual Fund

Mirae Asset Mutual Fund

Motilal Oswal Mutual Fund

Peerless Mutual Fund

Principal Mutual Fund

Quantum Mutual Fund

Reliance Mutual Fund

Sahara Mutual Fund

Taurus Mutual Fund

UTI Mutual Fund


Birla Sun Life Mutual Fund

DSP BlackRock Mutual Fund

HDFC Mutual Fund

HSBC  Mutual Fund

ICICI Prudential Mutual Fund

IDFC Mutual Fund

IIFL  Mutual Fund

Kotak Mutual Fund

L&T Mutual Fund

Mahindra Mutual Fund

PPFAS Mutual Fund

SBI Mutual Fund

Shriram Mutual Fund

Tata Mutual Fund

Union KBC Mutual Fund

What is NOT Direct Investment?

  • Demat Account.
  • Websites like, etc.
  • Banks, Brokers & Distributors.

Best online choice for investing in Direct Plan?

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