Terms & Conditions

Investors shall ensure to read carefully the Statement of Additional Information (SAI), Scheme Information Document (SID) / Key Information Memorandum (KIM) / Addenda of the scheme/s in which they would like to invest and it shall be deemed that investors are agreeable to the provisions/ terms and conditions as mentioned therein. Investors/Financial Advisors/Distributors (IFA/Distributor) shall also read the following guidelines carefully before entering into the arrangement by providing UTI SMaRT Form (one time debit mandate form hereinafter called "Mandate") which will be used for investing through SMS/mobile app such as SMS2invest and UTI Buddy or any other facility provided by UTI AMC in future to its investors/Financial Advisors/Distributor (hereinafter called "Facility").

The Facility is currently available only to KYC complied individual Investors who are holding units on Single or Anyone or Survivor basis only. UTI AMC may extend the facility to other categories of investors such as HUF, sole proprietor, non-individuals, minors, etc., at its sole discretion, in future.

Registration process: To avail this Facility, the Investors/Unit holder(s) of the UTI Mutual Fund are required to submit the UTI SMaRT Form with all the complete and correct details, in the UTI MF prescribed format only, authorising UTI AMC Ltd. (UTI AMC) and the investor's bank to debit his/her bank account as per the limit set by him/her for the day i.e as specified in the UTI SMaRT Form, whenever they choose to invest in any of the UTI Mutual Fund scheme using the Facility.

  • UTI AMC/its RTA/Service provider will endeavour to register the Mandate with investor’s bank using NPCI’s National Automated Clearing House (NACH) or any other mode offered by UTI AMC.
  • Mandate registration is a one-time process per Folio per IFA. However,  investors who wish to add a new folio or same folio with another IFA they may fill a new Mandate form. It may take 30 days to complete registration of Mandate form with investor’s bank.
  • Investors need to submit a copy of Cancelled cheque leaf of the bank account carrying the name and account number which is being mandated for this Facility along with its original for verification and return.
  • On registration of this Mandate form, under the facility called “UTI Buddy” investor’s registered IFA who is empanelled with UTI MF, KYD complied and having valid ARN can initiate transaction on behalf of the investor using the Facility (as stated in the Mandate form) for a) making fresh lump sum investments, b) starting new SIPs, c) redeeming investments, d) switching investments to another scheme of UTIMF or any other service as may be decided by UTI AMC from time to time. In future, UTI AMC may provide the Facility to the investor directly, i.e. the transactions may be initiated by the investor without it being routed through the IFA. In case the distributor is not meeting with any of the above conditions, the distributor will not be able to initiate any transaction for the customer.
  • Mobile Number and Email Id: Unit holder(s) should mandatorily provide their mobile number (registered in India) and email id on the Mandate form. Where the mobile number and email id mentioned on the Mandate form differs from the one already registered in the folio, the details provided on the Mandate will be updated in the folio. All future communication whatsoever would be, thereafter, sent to the updated mobile number and email id, till any further changes are informed by the investor.
  • For the new investors who wish to register the Mandate without any investment together with Mandate registration, UTI AMC may consider opening a folio with zero units under one of its schemes for the purpose of registration.

Transaction process: On receipt of SMS from the investor for purchase of units (which shall be treated as confirmation of transaction initiation), UTI AMC/its service provider shall arrange to debit the bank account of the investor on the same/next business day.

  • The date and time of receipt of SMS at the designated server/amount credited to UTI’s scheme collection bank account shall be considered as deemed time stamped.
  • Bank account details provided in the Mandate shall be used for additional purchase and/or for investment through SIP. All redemption payments will be made to registered primary bank account in the Folio only.
  • Any request received after the cut-off time will be processed on the next business day.
  • The bank account of the investor may be debited towards the purchase consideration within a period of one to seven business days depending upon the clearing/ECS cycle of the location concerned. However, in case of non-receipt of funds, for whatsoever reasons, the transaction shall stand cancelled and the units allotted, if any, shall be reversed. UTI Mutual Fund/ UTI Trustee Co. Ltd /UTIAMC/ service providers shall not be responsible or liable for any loss, claims, liability that may arise on account of such cancellation.

NAV applicability: Applicable NAV for the transaction will be based on the time of receipt of the transaction through the facility/SMS into the UTIAMC/its Registrar’s server and other factors like scheme, type of transaction, amount, date and time of realization of funds as per SEBI MF regulations and amount received in UTI MF’s designated account and will be treated on par with similar transactions received through other modes of payment. For Non liquid schemes upto Rs.2,00,000/-, units will be allotted on the date of receipt of SMS transaction before cut-off time and for above Rs.2,00,000/- the NAV applicability will be subject to realization of funds. For Liquid schemes irrespective of any amount, the NAV applicability will be subject to realization of funds.

Instruction to debit the investor account will be initiated by R&T only on T/T+1 day (depending on the time of receipt of SMS) on receipt of SMS from the investor. Hence, investors are required to ensure availability of funds in their bank account. The bank account may get debited from 1 to 7 days from the date of initiation of debit instruction. UTI Mutual Fund/ UTI Trustee Co. Ltd/UTI AMC/service providers shall not be responsible for delay in allotment of units in case of non-receipt of SMS or delay in debiting the investor’s account or crediting the scheme’s collection account, resulting in different applicable NAV or any loss arising out of the same to the investor.

This is subject to changes from time to time by way of Addendum to SID.

Cancellation of Mandate: For cancelling the registration of this Facility, Units holders/ Investors are required to send a written request, duly signed, at least 30 days in advance. The unit holders/ Investors agree that the cancellation/termination / withdrawal request is an authority to the UTIMF/UTI AMC/Registrar to instruct the bank with respect to the discontinuation of Mandate and investor will not hold UTI MF/ UTI Trustee Co. Ltd./UTI AMC/Bank/Registrar/service providers responsible for any such cancellation based on UTIAMC instruction.

General:

  • Non commercial transaction requests such as change in bank mandate, change of nomination, change in mode of holding, change of address or other non commercial transaction requests are not allowed using this Facility.
  • The responsibility of correctness of bank account information provided in this form solely rests with the investors and UTI Mutual Fund/ UTI AMC Ltd./ UTI Trustee Co.Pvt. Ltd/ service providers shall not be responsible or liable for any loss, claims, liability that may arise on account of any incorrect and / or erroneous data / information furnished by the investor.
  • Investors confirm, acknowledge and undertake that they are eligible to carry out the subject transactions as per the Scheme Documents, applicable, laws, rules & regulations and  will make payments for subscription of units from their respective bank account(s) in compliance with applicable provisions relating to third party payments and that the payment will be through legitimate sources only and as permitted in accordance with Prevention of Money Laundering Act, 2002 (PMLA) and applicable Anti Money Laundering Guidelines.
  • If there is a change in bank details used for debiting the account, investors need to submit a fresh Mandate form. The existing Mandate will cease to exist. UTI MF/ UTI Trustee Co Pvt./UTI AMC  Ltd shall not be responsible for any transaction arising out of such existing registered bank account during the intervening period till the change is updated. Similarly, in case of change in mobile number/Email ID, the investor shall inform UTI AMC on priority.
  • Investors making investments through Financial Advisors may mention the EUIN of the person who has advised the investor. If left blank, the UTIMF/UTIAMC will assume and consider the declaration relating to EUIN signed by the Investor in this form and accordingly process the transaction.
  • In the event of an investor investing through a IFA/distributor, the investor hereby confirms that the ARN holder has disclosed all the commissions (in the form of trail commission or any other mode), payable to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to the Investor. The investor further confirms that they have not been offered/communicated any indicative portfolio and/or any indicative yield for this investment.
  • The Unit holder(s)/ Investors agree that they shall check their bank account records / account statements/Email or SMS confirmations carefully and promptly. The Unit holder(s)/ Investors will promptly inform the UTI AMC Ltd in case of any erroneous or unauthorized transaction/s being processed, any erroneous debit transactions. The Unit holder(s)/ Investors should inform the Fund for such discrepancy within a period of seven days, failing which it will be deemed that there is no  discrepancy in the transactions which were processed.
  • Unit Holder(s)/ Investors agree that the UTIMF/UTI AMC Ltd may discontinue this facility including for any investor / folio entirely at its discretion.
  • SIP registration using the facility shall be accepted for the period mentioned on the Mandate. In case the SIP end date is beyond the end date of the Mandate, then the end date of the Mandate shall be considered.
  • As a security feature, One Time Password (OTP) may be introduced in future for execution of the transactions. With the introduction/registration of this facility, Unit Holder(s)/ Investors authorizes UTI AMC/Its RTA/Service provider to send a one-time password (OTP) on the registered mobile number for the verification/confirmation of the transaction received through the IFA/distributor under this facility.
  • The investor agrees that the provisions relating to ‘Do Not Disturb’ /’DND’ under TRAI Regulations shall not be applicable for such communications/calls made by the UTIAMC/
  • That the Unit Holder(s)/ Investors agree and understand that they shall be bound by all the terms and condition including but not limited to the terms and conditions available on the website including the privacy policy and shall in addition to the above indemnify and hold harmless the UTI MF/ UTI Trustee Co. Ltd/ UTI AMC/ its RTA/ Service providers as per the various terms and conditions, the Privacy Policy, the Scheme Information Document, Statement of Additional information, Key Information memorandum etc.
  • By opting for the facility the Investor/s hereby authorizes and instructs the UTIAMC to do all such acts, deeds and things as UTI AMC Ltd may find necessary to provide the Facility.
  • The Investor/s shall at all times be bound by any modifications and/ or variations made to these Terms and Conditions by the UTI AMC Ltd at their sole discretion and without notice to them. The modification will be made available on the Website of UTI MF.
  • The Investor/s agrees and confirms that UTI AMC/RTA/Service providers/Contact centre have the right to ask the Investor/s for an oral or written confirmation for any transaction request through the Facility.
  • The Investor/s agrees and confirms that the UTIMF/UTIAMC may at its sole discretion suspend or withdraw the Facility in whole or in part at any time without prior notice.
  • The Investor/s shall be responsible for all the transactions conducted by using the Facility and will abide by the records (including electronic/ SMS records) of transactions maintained by the UTIAMC. Further, the Investor/s confirms that such records shall be conclusive proof and binding for all purposes and may be used as evidence in any proceedings and unconditionally waives all objections in this behalf.
  • The Investor/s agrees that use of the Facility will be deemed acceptance of the Terms and Conditions and the Investor/s will unequivocally be bound by these Terms and Conditions. By using the facility, the investor irrevocably authorises UTi MF/ UTI AMC/its service providers to do all such acts as may be necessary to provide this facility.
  • Investors agree and acknowledge that any transaction, undertaken using the registered mobile number shall be deemed to be that of the investor and UTI MF, UTI Trustee Company Pvt. Ltd. and UTIAMC or any of their service providers / RTA/agents shall not be responsible /liable for the same or any unauthorized usage of the facility.
  • In case of redemption/switch, clear units that are free from lock-in/STOP mark will be available for transaction.
  • UTI AMC may prescribe, from time to time a maximum limit per transactions. Currently, in case of facility of SMS2invest, such limit is Rs.10 lakh per transaction per day.
  • The regulatory guidelines issued by SEBI/AMFI etc., and the scheme provisions, as may be applicable, will prevail at all times.