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Frequently Asked Questions

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OTM, or One Time Mandate is a one-time registration process where in the investor authorizes his banker to execute debits to his bank account up to a certain limit based on requests. We shall forward the debit requests to the bank based on the transaction request from the investor for SIP/ Lump Sum purchases. The debits will happen through National Automated Clearing House (NACH).

We are offering only one option as frequency - As and When Presented. This would enable any time debit and allow the investor to perform both Lump-sum and SIP. OTM offers to select the frequency of debit - Monthly, Bi-Monthly, Quarterly, Half-Yearly, Yearly and ‘As and When Presented’. However, in all these options except when ‘As and When Presented’ is selected the debit cannot be done beyond the specified frequency. Hence, if an investor, who has selected ‘Monthly’ as frequency, has a SIP running and wants to make second purchase in the same month then the investor would not be able to do so as his/her bank would reject this transaction. This would cause inconvenience to the investor. Therefore, we are offering only one option as frequency - ‘As and When Presented’.

The Investor can specify this in the debit amount field. Per transaction should be less than or equal to the amount as mentioned in OTM.

1) Reduction in registration time to just 10 days as against the current registration time of 30 days in ECS. 2) This system provides a positive confirmation from investors' bank about registration acceptance or non-acceptance, unlike ECS. 3) Investors can opt for a one time registration and avail this facility any time for their future investments. 4) Investors can make use of this payment mode for their Lump-sum Mutual Fund investments apart from SIPs. 5) Offers flexibility to the investors in making subsequent investments across all schemes without payment instruments (Cheques/DDs).

Yes, investor should sign an Auto Debit Form - OTM for each bank account. OTM is an agreement between Investor, his/her Bank and Moneybase to debit the investor bank account anytime based on investor request.

An OTM is for one bank. The maximum amount in the form indicates the maximum limit for a SIP transaction which we register through that bank . We cannot register SIP beyond the maximum amount we have mentioned in the form.

OTM will be sending the particular bank in which it is registering. Signature mismatch, Mistake in holder name as per bank records, over writing are the main reasons for OTM rejection.