Browse our FAQ library and find answers to any question you may have. Use the navigator on the right side to jump to specific sections and click on a question to view the answer.
KYC is an acronym for 'Know Your Customer'. KYC is commonly used to describe the 'Client Identification' Process and it is a one-time requirement applicable for all Unit Holders, including Guardians and Power of Attorney holders but excludes Nominees, Minors, Kartas.
The Securities and Exchange Board of India (SEBI) has prescribed certain requirements under the Prevention of Money Laundering Act 2002 for Financial Institutions and Financial Intermediaries including Mutual Funds to 'know' their Customers. The KYC process helps prevent money laundering and other suspicious transactions.
CKYC refers to Centralized KYC (Know Your Customer) which came into effect from February 01, 2017. The main objective is to have a single platform which facilitates investors to complete their KYC only once before interacting with various entities across the financial services sector.
^For existing SIP / STP / DTP registrations, KYC norms are applicable on the date of acceptance of the request, unless specifically mentioned.
^If you are an Individual Investor, you can complete your KYC process online, through our website invest.dspim.com.
Alternatively, you may submit the physical form to any of our branches or CAMS Investor Service Centres near you.
^A detailed note on the documentation is mentioned on the application form.
A PAN exempted KYC (PEKRN) would be needed to invest in Mutual Funds. An identity proof in lieu of PAN needs to be provided. (Refer form for the list of documents). Individuals, Minors, Sole Proprietor, Joint Holders NRIs (Not extended to PIOs & U.S. Persons and Residents of Canada) can invest with a PAN exempt KYC.
The total investment (including fresh purchase, additional purchase, switches and SIP installments) in a rolling 12 months' period or financial year i.e. April to March should not exceed Rs. 50,000 for a APN exempted KYC.
^KYC application needs to be mandatorily accompanied with an investment application i.e. purchase / switch/ redemption / SIP as per regulations.
^You can send an email from your registered email ID to [email protected] or call us on 1800 208 4499 from your registered mobile number to update your KYC Status
^You can check your KYC status online at the websites below:
^You should intimate your change of Name/Address/Contact Details/Status/Signature etc. to a point of service (POS) of the KRA or the AMC office.
Individuals can submit a CKYC Form along with the required documents.
Non Individuals need to submit a fresh KYC form along with the required documents.
^You need to complete the "Know Your Customer" (KYC) verification before you can begin investing in mutual funds.
Please click here to check if you are KYC complied. If you do not have a completed KYC, you can complete your KYC online, through our website invest.dspim.com.
Once you have completed your KYC verification, you may invest using the DSP app available on the Play Store as well as on the App Store or by visiting invest.dspim.com.
^If you are using the DSP App:
If you are using the DSP Website:
Alternatively, you may submit the physical form to any of our branches or CAMS Investor Service Centres near you.
If you are a MF Distributor and looking to initiate a purchase on behalf of your investor, you may do so using our IFAXpress App or the IFAXpress website ifaxpress.dspim.com.
^Any child below the age of 18 years can invest in DSP Mutual Fund under his/her name however he/she cannot operate accounts on their own. Once the folio is created in physical mode, the guardian can transact online on https://www.dspim.com/invest/ on behalf of the minor. The investment will be done under a guardian; either parent or court appointed guardian.
Documents needed to open a folio in a child’s name:
• Duly filled in common application form.
• KYC of the Guardian.
• The payment for subscription is to be made from the minor’s bank account itself and not from the guardian’s bank account.
• Date of Birth (DOB) proof of minor which is Birth Certificate, Passport, School Leaving Certificate/Marksheet issued by HSC Board of the respective state or any other suitable proof evidencing the DOB of Minor.
• Court order in case of Court appointed legal guardian.
a. eNACH (NACH = National Automated Clearing House)
b. Cheque: Cheque should made out to "DSP Mutual Fund Collection Account"
c. Funds Transfer or RTGS/NEFT: Our bank details will be shared on request
d. UPI (UPI = Unified Payments Interface)
e. One Time Mandate
eNACH, also known as 'One Time Mandate' is a one-time online registration process that allows you to seamlessly initiate all future investments with DSP in a completely digital manner.
It is a completely paperless process that lets you authorize your bank to debit your account up to a certain limit that you set up yourself.
This debit will happen through National Automated Clearing House (NACH) created by National Payments Corporation of India (NPCI), which is set up under a mandate from the Reserve Bank of India in 2008.
^Both are essentially the same. However, OTM is registered via a physical form and eNACH is registered online through our website dspim.com
Most investors prefer eNACH as it is paperless and therefore very convenient.
^• Make a purchase or register a SIP without the hassle of writing cheques or bank transfers.
• Register a SIP just 5 days after eNACH is registered in your folio.
• It is available for investing in all open ended schemes of DSP Mutual Fund (except DSP Liquid ETF)
33 Banks (authorized by NPCI) currently support eNACH. Here is a list for your quick reference:
| S.No. | BANK NAME |
| 1. | Andhra Bank |
| 2. | AU Small Finance Bank |
| 3. | Axis Bank Ltd |
| 4. | Bank of Baroda |
| 5. | Bank of Maharashtra |
| 6. | Canara Bank |
| 7. | Central Bank of India |
| 8. | City Union Bank |
| 9. | Deutsche Bank AG |
| 10. | Development Credit Bank Ltd |
| 11. | Dhanlaxmi Bank Ltd |
| 12. | Equitas Small Finance Bank Ltd |
| 13. | Federal Bank Ltd |
| 14. | HDFC Bank Ltd |
| 15. | ICICI Bank Ltd |
| 16. | IDBI Bank Ltd |
| 17. | IDFC Bank Ltd |
| 18. | Indian Overseas Bank |
| 19. | IndusInd Bank |
| 20. | Karnataka Bank Ltd |
| 21. | Kotak Mahindra Bank Ltd |
| 22. | Oriental Bank of Commerce. |
| 23. | Paytm Payments Bank Ltd |
| 24. | Prime Cooperative Bank Ltd |
| 25. | Punjab National Bank |
| 26. | Ratnakar Bank Ltd |
| 27. | South Indian Bank Ltd |
| 28. | Standard Chartered Bank Ltd |
| 29. | State Bank of India |
| 30. | Tamilnad Mercantile Bank Ltd |
| 31. | The Cosmos Coop Bank Ltd |
| 32. | Union Bank of India |
| 33. | Yes Bank |
In most cases, eNACH is registered in two working days from the date of registration. Once the eNACH Bank is registered on your folio, an e-mail and SMS confirmation will be sent to you on your registered details.
^Yes. You can cancel the eNACH online however cancellation will be allowed only if there are no underlying active SIPs linked to that eNACH. Please click on new.camsonline.com/Investors/Service-requests/eNACH-eMandate/eNACH-OTM-Cancellation/_yBwmB9T9OWY_bTCTLR6Og== to cancel the eNACH
^First, don’t worry. This usually happens because of a payment failure at your bank’s end or at times even due to poor internet connectivity.
Rest assured, if your account has been debited, we will definitely allot you the units after receiving a confirmation from your bank.
If your units are not allotted within 2-3 days, please email us at [email protected] or call us on 18002084499.
^You may redeem your units using our App available on the Play Store as well as on the App Store or by visiting invest.dspim.com
If you are using the DSP App:
Alternatively, if you still prefer to do things old school, you may submit a transaction form to any of our branches or at any CAMS Investor Service Centres near you.
If you are a MF Distributor and looking to initiate a redemption on behalf of your investor, you may do so using our IFAXpress App or the website ifaxpress.dspim.com
If you get stuck at any point, please call us at 1800 208 4499.
^Your funds will usually be credited to your registered bank account within 1-5 business days depending on the scheme you have redeemed from.
• Liquid/Fixed Income schemes: T+1
• Equity & Hybrid Schemes: T+3
• International/ Fund of Fund schemes: T+5
'T' here stands for transaction day (So 'T +1' means 1 day after the day you made the transaction). 'Business Day' is a day other than Saturday and Sunday or a day on which the Banks in Mumbai or BSE/NSE/RBI are closed.
^The redemption proceeds are paid directly to your registered bank account through RTGS/NEFT, provided we have your complete core banking account details.
In the absence of core banking account details, a cheque will be sent to your registered address. Please ensure you have your correct/latest address updated with us.
Also, to get your redemption proceeds on time, we request you to verify your bank details by creating an account on our App, available on the Play Store as well as on the App Store or by visiting invest.dspim.com.
^If there are non-business days after you placed the redemption request, or if the redemption has been done post cut off, there may be a delay of 1-2 days in receiving your redemption proceeds.
The payout mechanism (RTGS/NEFT or cheque) is mentioned on your account statement. We always endeavour to transfer the redemption proceeds to your registered bank account or to send the cheque as per the above mentioned payout cycle.
If it’s been 3-4 business days since you placed your redemption request and you still haven’t received the funds, please call us on 18002084499 or write to us on [email protected].
^Unfortunately, this is not possible in one single step. As per regulations, a change of bank mandate request and a redemption request cannot be processed together. There has to be a gap of 10 days between these two specific requests. This regulatory gap is for your own protection, to reduce fraud and other related operational risks.
^We have an ‘Instant Redemption’ facility where we endeavour to send the redemption proceeds to your registered bank account instantly at the time we receive your Instant Redemption request. We use the Immediate Payment Service (IMPS) provided by various banks to manage this and this service is available on all days, at all points of time.
^This facility is available only in DSP Liquidity Fund (Growth).
^You can withdraw a maximum of Rs. 50,000 or the redeemable balance from your investment in DSP Liquidity Fund, whichever is lower. The minimum redemption limit is Rs. 100.
^This facility is available to all investors, except NRIs. Your complete bank account details along with core bank account details must be registered with your account in order to use this facility.
^The Instant Redemption Facility is available on the DSP App as well as from our website invest.dspim.com.
^Yes, you may switch your investment using our DSP App available on the Play Store as well as on the App Store or by visiting invest.dspim.com
Alternatively, if you still prefer to do things old school, you may submit a transaction form to any of our branches or at any CAMS Investor Service Centres near you. You may also call us on our toll free no. 1800 208 4499.
If you are a MF Distributor and are looking to initiate a switch on behalf of your investor, you may do so using our IFAXpress App or the website ifaxpress.dspim.com.
If you get stuck at any point, please call us at 1800 208 4499.
^A switch from one scheme to the other is treated as a redemption from the switch-out scheme and a purchase into the switch-in scheme. Relevant entry or exit loads will apply.
All scheme loads and relevant information is available on any scheme page on our App or our website.
^We're so glad you asked - it is a great decision to start an SIP! This disciplined way of investing regularly helps you aim to build wealth, step by step, over a long period of time. You can start with as little as Rs.500 per installment and try to benefit from the power of compounding & cost averaging.
Watch this video or follow the below steps to start your SIP with us. Of course this means you are KYC compliant. If not, click here.
Register for eNACH or One Time Mandate (one-time online registration process that will enable you to invest with DSP digitally. It will take up to 2 business days to initiate your first SIP transaction post registration)
Log in to invest.dspim.com:
a. Log in or Create an Account
b. Click New Transaction
c. Click Purchase or SIP
d. Click Select or Create a Folio
e. Add Scheme
f. Add Amount, Frequency, Installment Date, SIP Tenure
g. Select payment mode
h. Specify plan & Distributor details
i. Review & Confirm SIP
You can also start a SIP from our App. Download it from the Play Store or from the App Store.
a. Log in
b. Click on Systematic Plans
c. Start SIP
d. Add a Scheme
e. Enter Amount
f. Frequency
g. Start and End date
h. Select payment mode
You can also start a SIP by submitting this SIP form at any of our Branches or at any CAMS Investor Service Centres.
Now is the right time to start- don't wait for markets to fall or rise, as they are unpredictable. So first thing- don't delay.
Remember that SIPs allow you to invest regularly and gradually, with the aim of building wealth in a disciplined manner, over time.
By investing via SIPs, you could benefit whether the markets go up or down. Here’s how this works.
In order to create wealth and have a good investment experience, we strongly recommend remaining invested for a long period of time - while 5 years seems like a good holding period, 10 years or longer is even better. This long-term commitment will mean you won't get worried by short-term volatility and will give your investment a better chance to do well for you over time.
^Always remember that there is no 'best scheme' whether at DSP or at another AMC, only the scheme 'right for your objective'.
You need to plan your individualized investment journey based on your personal objectives and risk profile- there is no one-size-fits all approach. What's right for others may not be right for you, so you really would need to speak with an expert mutual funds distributor who can understand your requirements, discuss your risk profile and recommend the right set of products to you.
Please also spend some time understanding the various products in our stable here. This will help you take a better, more informed decision whether you invest directly or via an expert MF distributor.
^You can start a SIP in a DSP scheme with as little as Rs.500/- per instalment.
^You can choose either a monthly or a quarterly option to start your SIP.
^A SIP can be registered for any date in a given month, the choice is yours.
^Yes, the minimum number of instalments is 12. Only in DSP ELSS Tax Saver Fund, you can register a SIP of 6 instalments (even though your investment will be locked-in for 3 years since this fund is an Equity Linked Savings Scheme).
^If you do not specify the SIP end date on the application form, the SIP will be treated as '‘perpetual'. Which is actually a good thing for most investors- in fact, we recommend this!
^There is no entry load for investments in mutual funds. An exit load will be charged for the specific scheme as per the applicable load structure at the time of registering the SIP.
^Instead of canceling your SIP, you can choose to pause it with our ‘SIP Pause’ Facility. This allows you to stop SIP installments for a certain period and then restart the SIP again at a later date.
If you still want to go ahead with your SIP cancellation, you can watch this video or follow the below steps to pause your SIP:
Yes. You can cancel the OTM online however cancellation will be allowed only if there are no underlying active SIPs linked to that OTM. Please click on camsonline.com/Investors/Service-requests/eNACH-eMandate/eNACH-OTM-Cancellation/_yBwmB9T9OWY_bTCTLR6Og== to cancel the OTM
^Watch this video to see how SIP can be modified online or follow the below:
For any modification to take place, it should be submitted 10 days prior to the next SIP date except for change of bank which may take up to 30 days.
^A SIP Top-Up is an option that allows you to increase your contribution / instalment in a SIP at predetermined intervals by a fixed amount during the tenure of your SIP.
The SIP Top-Up feature helps you start with a small amount and gradually increase the amount you invest with time. This will not only add to your initial principal, but will also help you stay with a long-term, disciplined approach to investing.
^You can choose either a half-yearly or a yearly top-up option.
^A Top-Up Facility has to be opted-in at the time of your SIP registration.
^Watch this video to see how you can do a new SIP Top UP or follow the below steps.
Log in to invest.dspim.com or Download the DSP Mutual Fund App from the Play Store or from the App Store
a. Log in or Create an Account
b. Click New Transaction
c. Click Purchase or SIP
d. Click Select or Create a Folio
e. Add Scheme
f. Add Amount, Frequency, Instalment Date, SIP Tenure
g. Add Top-Up details
h. Select Top-Up Frequency (6 months, 1 year)
i. Enter incremental Top-Up Amount
j. Enter the maximum Top-Up Amount
k. Click on Continue
l. Select payment mode
m. Specify plan & Distributor details
n. Review & Confirm SIP
You can also submit SIP Top-Up Form at any of our Branches or at CAMS Investor Service Centres.
Follow the below steps to convert your existing SIP to a Top-Up:
a. Log in
b. Systematic Plans
c. Select scheme you want to make a Top-Up
d. Click on convert to Top-Up SIP
e. Enter Amount, Frequency, Start Date & End Date of the existing SIP
f. Select Top-Up Frequency (6 months, 1 year)
g. Enter incremental Top-Up Amount
h. Enter the maximum Top-Up Amount
i. Click on Continue
j. Review & Confirm SIP Top-Up
You can also submit SIP Top-Up Form at any of our Branches or at CAMS Investor Service Centres.
^SIP Pause Facility allows you to pause your SIP installments for a certain period and then restart the SIP again at a later date, instead of cancelling your SIP. The feature helps investors who may have a temporary shortage of funds in their bank account for any reason.
^You can pause SIPs in your folio by these options:
Visit invest.dspim.com :
o Login
o Systematic Plans
o Select 'SIP Pause' from the drop down of the respective scheme
o Select Date and Number of instalments
o Submit
Download the DSP Mutual Fund App from the Play Store or from the App Store.
o Main menu
o Go to Systematic Plans
o Select 'SIP Pause' from the drop down of the respective scheme
o Select Date and Number of instalments
o Review and Submit
You can also submit a signed SIP Change Request Form at any of our Branches or at CAMS Investor Service Centres.
The detailed terms and conditions for availing this facility are as follows:
Please make sure that you have added the biller within 7 days of transaction approval. Post biller registration, the confirmation report will be sent to us by your bank within 3-4 working days. Only after we receive this confirmation, the SIP will be activated and post 27 days the first SIP can commence. There could be a delay if there are any bank holidays during this time. Also login to invest.dspim.com > Log in to your account > Systematic Plans and check the folio whether your SIP is showing cancelled due to Biller not registered.
^No, we will not levy any charges. If any charges are levied in your bank account, these would be from your bank and from NPCI (National Payment Corporation of India).
^Please note that online SIP cancellation takes 15 working days to process and any SIP instalment falling within that period gets debited post which no further debits will occur.
^You can still invest through a "Micro SIP", which is a SIP where the aggregate amount across all instalments during a rolling 12-month period or in a financial year (i.e. April to March) does not exceed Rs. 50,000.
However, you need to be KYC verified by producing any photo identification document, such as Voter Identity Card or Driving license or Government / Defence identification card or Passport or Photo ration card or any other photo ID card issued by the central government / state governments /municipal authorities / government organizations like ESIC / EPFO.
Once your KYC is registered, you can invest by logging on to your account on invest.dspim.com.
^A Systematic Transfer Plan or STP is a facility that allows you to invest a lump sum amount in a scheme and regularly transfer a fixed or variable amount from it into another scheme, in a systematic manner. To learn more about STPs, please check this link out.
^A STP can completed in several easy ways:
A STP can be registered either for a fixed amount or for capital appreciation in the source scheme for a minimum amount of Rs.500/- per instalment.
^Yes. It is offered in all Schemes, Plans and Options except DSP Liquidity Fund, where is not permitted.
^Yes, the minimum number of instalments is 6.
^You can choose from daily, weekly, monthly, quarterly, half-yearly and yearly options to start your STP
^An exit load may be charged as per the applicable load structure for the specific scheme when you redeem your investment.
^You can cancel your STP by:
Visit invest.dspim.com
o Log in
o Select 'Systematic Plans'
o Select 'STP'
o Choose Cancel STP from the dropdown
Download the DSP Mutual Fund App from the Play Store or from the App Store
o Log in
o Select 'Systematic Plans'
o Select 'STP'
o Choose Cancel STP from the dropdown
Other ways of cancelling:
o Call our contact centre on 1800 208 4499
o Send an email from your registered email ID to [email protected]
o Submit STP Cancellation form at any of our Branches or CAMS Investor Service Centres 10 days prior to the next STP date.
You can choose to modify the target scheme, date, tenor and amount by:
Flex STP is a type of STP that allows you to set up a process through which you can automatically invest a higher amount when the markets fall and a lower amount when the markets are rising. This means, the amount transferred as part of your STP will vary (based on a formula that takes into account the previous value of investments already made) on the registered Flex STP date.
^The first instalment will be as per the amount specified by you in the FLEX STP Registration form.
From the second Flex STP instalment onwards, the instalment amount shall be the higher amount of the two below:
i. The fixed instalment amount specified by you originally OR
ii. The amount determined by this formula: 'Instalment amount as originally indicated by you' X 'Number of instalments invested' (including current) minus 'Current market value of all instalments paid till now'.
| Source Scheme | DSP Liquidity Fund |
| Target Scheme | DSP Equity Fund - Growth |
| Date & Frequency of Flex STP | 7th date - Monthly Interval |
| Amount of Transfer per instalment | Rs.2,000 |
| Number of instalments | 12 |
| Enrollment Period | January 2018-December 2018 |
Here is how the 5th instalment amount of your Flex STP for May 7, 2018 will be calculated:
Hence, on May 7, 2018, the instalment amount transferred to the target Scheme will be Rs. 4,000/-
However, in case there is a redemption or switch-out of any units allotted under Flex STP, the balance instalments under Flex STP will be processed for the fixed instalment amount only as specified by the unit holder at the time of enrolment, subject to other terms and conditions available on Page 2 of FLEX STP Registration form.
You can submit it at any of our Branches or CAMS Investor Service Centres.
A Flex STP can be registered with a minimum amount of Rs.500/- per instalment.
^Yes, Flex STP is offered in all Open Ended Schemes, Plans and Growth Option except DSP Liquidity Fund.
^A Flex STP can be started for a minimum of 6 instalments in daily, monthly or quarterly frequencies. In case of daily frequency, the minimum period will be 6 days and the maximum period shall be one year.
^A Flex STP can be registered for any given date of any month.
^You can choose daily, monthly, quarterly option to start your FLEX STP.
^A Value STP, is a facility where Unit holder(s) of designated scheme(s) of the Fund can opt to systematically transfer amount(s), which may vary based on the value of investments already made/transferred under this facility, on the registered Value STP date. This facility also includes a feature of ‘Reverse Transfer’ from Switch In scheme into the Switch Out, in order to achieve the Target Market Value on each transfer date.
^You can register a Value STP by submitting Value STP Registration form at any of our Branches or CAMS Investor Service Centres.
To know more about this facility, please refer instructions available on page 2 of Value STP Registration form.
^A Value STP can be registered for a fixed amount in the source scheme for a minimum amount of Rs.500/- per installment.
^A Value STP is offered in all Open Ended Schemes, Plans and Growth Option (DSP Liquidity Fund & DSP TAX Saver Fund)
^A Value STP can be started with a minimum of 6 installments.
^A Value STP can be registered for these dates in a month: 1, 5, 7, 10, 14, 15, 20, 21, 25, 28.
^A Systematic Withdrawal Plan or SWP is a facility which provides the convenience to withdraw a specific amount of payout at pre-determined time intervals like monthly, quarterly etc.
^A SWP can be registered either for a fixed amount or capital appreciation for a minimum amount of Rs.500/- per instalment.
^You can register SWP by:
Log in to invest.dspim.com
a. Log in or Create an Account
b. Click New Transaction
c. Start SWP
d. Select Scheme to redeem from
e. Select Withdrawal Amount, Frequency & Tenure
f. Review & Confirm
You can also start a SWP from our App. Download it from the Play Store or from the App Store.
a. Log in
b. Click on Systematic Plans
c. Start SWP
d. Select Scheme to redeem from
e. Select Withdrawal Amount, Frequency & Tenure
f. Review & Confirm
You can also start a SWP by submitting this SWP Registration form at any of our Branches or CAMS Investor Service Centres.
A SWP can be started for a minimum of 6 installments.
^You can choose monthly, quarterly, half yearly and yearly option to start your SWP.
^An exit load will be charged as per the applicable load structure for the specific fund scheme at the time of registering the SWP.
^Yes. A SWP can be cancelled by submitting SWP Cancellation form. at any of our Branches or CAMS Investor Service Centres.
^Yes. You can modify the scheme, date, tenor and amount by submitting SWP Change form at any of our Branches or CAMS Investor Service Centres 10 days prior to the next SWP date.
^A Fixed Withdrawal Plan is an extension of the Systematic Withdrawal Plan facility. This allows you to redeem a fixed percentage of the invested amount periodically on pre-determined dates.
For eg: If you invested Rs.1 lakh in a mutual fund scheme (in which FWP is possible) and indicated that you wanted to withdraw a fixed %age of 0.75% every month from your investment the monthly withdrawal amount will be Rs.750 (0.7% of Rs.1 Lakh).
^Yes, the minimum amount required to register a FWP is Rs. 1 lakh and the minimum withdrawal percentage is 0.75% of the amount.
^You can register a FWP by submitting FWP Registration form at any of our Branches or at any CAMS Investor Service Centres.
^No. FWP is only available in the Growth option of DSP Credit Risk Fund, DSP Dynamic Asset Allocation Fund, DSP Equity & Bond Fund and DSP Regular Savings Fund.
^You may change your bank account using the using the DSP App or by visiting invest.dspim.com. You may download the app from the Play Store or from the App Store.
Note: For security reasons, bank details can be updated online only for folios where the mode of holding is Single.
You can also choose to submit a Change of Bank Form to any of our branches or at any CAMS Investor Service Centres near you.
^**Bank Letter / Attestation - Bank Letter or attestation should have bank manager's signature, name, designation, employee code, bank seal and contact number. In case the documents are older than 3 months, the same should be attested by the Bank again.
In the absence of originals / copy / bank attested documents of the old and new bank, the investor will need to visit DSP or CAMS ISC branches for an In Person Verification [IPV] along with the ORIGINAL PAN / Photo Identification proof and new bank documents.
^Individuals, HUFs, Sole Proprietor firms can register up to 5 banks and Non-Individuals can register up to 10 banks in a single folio.
^Bank details can be added online on our DSP app or website.
If you are using the app or website:
Alternatively, you can submit a Multiple Bank Account Registration Form to any of our branches or CAMS Investor Service Centres near you along with
The redemption and dividend proceeds will be transferred to your 'Default' bank account.
^Yes. Please send an email to [email protected] from your registered email ID or call us on 1800 208 4499 from your registered mobile number.
Alternatively, you can submit a Multiple Bank Account Registration Form to any of our branches or at any CAMS Investor Service Centres near you.
^You can delete your bank account only if more than one bank account is registered in the folio. You must have at least one registered bank account in the folio as it is mandatory for redemptions and dividend payouts.
^You may change your email ID/ mobile number using the DSP App or by visiting invest.dspim.com. You may download the app from the Play Store or from the App Store .
On the DSP App:
Alternatively, you can send us an email from your registered email ID to [email protected] OR call on 1800 208 4499 from your registered mobile number.
If neither your email ID nor your mobile number are updated in our records or if you wish to update both of them together, you will need to submit this form to any of our branches or at any CAMS Investor Service Centres near you.
^The Finance Act, 2020 has abolished Dividend Distribution Tax (DDT) where tax was paid by the mutual fund before declaring the dividend and dividends were tax-free in the hands of unit holders.
From April 1, 2020 any dividends declared have become taxable in the hands of the unit holders.
Mutual funds are now required to deduct tax at source ('TDS') on the dividend amount at prescribed rates. This is applicable only to individual investors, to all categories of mutual funds and for all dividend options.
^The exemption level is set at Rs. 5,000 per financial year. TDS will be deducted where the dividend amount exceeds Rs. 5,000 in a given financial year.
^For record dates between April 1, 2020 and May 25, 2020
TDS was deducted on all dividend amounts where the dividend amount was Rs. 1/- and above.
For effective record dates post May 26, 2020:
Section 194K provides for deduction of TDS when the dividend amount in a Financial Year exceeds Rs. 5000. To avoid shortfall in deduction of TDS, the threshold for TDS deduction has been kept at Rs. 4000 beyond which TDS will be deducted.
Let us understand with an example as to why the threshold is Rs. 4000
Unitholders less than 60 years of age need to submit ‘Form 15G’ before the start of the Financial Year if they are expecting their tax liability for the year to be Nil.
Senior citizens (aged 60+) need to submit 'Form 15H' before the start of the Financial Year if they are expecting their tax liability for the year to be Nil.
These forms are valid for one year only and need to be resubmitted to DSPMF every year.
^Yes, a TDS Certificate will be issued on a quarterly basis after the TDS return is filed by the Fund. The TDS amount will also reflect in your Form 26AS at the Income Tax return e-Filing Portal.
^You can update the Form 15G & 15H in your folio online through www.camsonline.com
Alternatively, you can also send an email along with a scanned and signed image of Form 15G or 15H to [email protected].
You can also submit a physical Form 15G & 15H to any of our branches or at any CAMS Investor Service Centres near you.
^You may update your nominee details using the using the DSP App or by visiting invest.dspim.com. You may download the app from the Play Store or from the App Store.
Alternatively, you may submit a Nomination Form to any of our branches or at any CAMS Investor Service Centres near you.
^Yes. You can change the nominee following the same process as when you set a nominee for the first time. The new nomination will replace the existing nominee in the folio.
^You can register upto three nominees. You can also assign the percentage allocation to each nominee. If no percentage is mentioned, all nominees will get equal weightage.
^Nominees can be:
Please inform us in case you were close to the unitholder. You can do so by the following process. Refer to the Transmission Documents Matrix for a list of the required documentation. You may submit the forms to any of our branches or CAMS Investor Service Centres near you.
^If you are KYC Compliant: You will need to update your address in KYC records. Please submit a CKYC Form to any of our branches or CAMS Investor Service Centres near you.
If you are not KYC Compliant: You will need to complete your KYC process. It can be done online at invest.dspim.com
Alternatively you may submit CKYC Form for Individual at any of our Branches or at any CAMS Investor Service Centres near you.
Non-Individuals will have to re-do the KYC formalities in case there is a change of address. You can submit this KYC form.
Copies of all required documents must be self-attested and accompanied by originals for verification. If originals are not produced, copies should be attested/ verified by authorized entities as per KYC guidelines.
Once the address is updated in your KRA records, it will automatically be updated in the folio.
^Please send us an email from your registered email ID to [email protected] or call us on 1800 208 4499 from your registered mobile number.
^A power of attorney is a legal document giving a person an authority to act on someone else’s behalf. It gives rights to operate their folios and conduct transactions.
^Yes. The POA must be executed on stamp paper and registered in India.
^A notarized copy of POA can be submitted along with the purchase application. Alternatively, you may add it later by submitting a Transaction form and a notarized copy of the POA.
The documents required for POA registration are:
• KYC acknowledgement of POA holder
• FATCA details (If POA is a Non Individual)
• FATCA details (If POA is Individual).
Yes, you can. Please send an email from your registered email ID to [email protected] OR call on 1800 208 4499 / 1800 200 4499 from your registered mobile number to remove the POA from your folio.
Alternatively, you may submit a letter at any of our Branches or at any CAMS Investor Service Centres near you.
^All your investments scattered across multiple folios can be consolidated by submitting a Consolidation Form which you can submit at any of our Branches or at any CAMS Investor Service Centres nearest to you.
Consolidation can occur only if all of the details below are identical in the folios:
Please also make sure that the following are completed before you submit the request to consolidate:
You can mention any folio as the Target folio. However, the mode of holding, bank mandate, address and nominations details in the Target Folio will be applicable and will prevail after consolidation even if they were different in source folios.
^You may do so by submitting a Change of Name form along with the following required documentation at any of our Branches or at any CAMS Investor Service Centres near you.
^The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.
^You may submit the Change of Signature form at any of our Branches or at CAMS Investor Service Centres along with:
The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.
^You can submit the Minor to Majority Form at any of our Branches or at CAMS Investor Service Centres along with the following documents:
Change of Guardian form can be submitted at any of our Branches or at CAMS Investor Service Centres along with the following documents:
Please note, the new guardian must be a natural guardian (i.e. father or mother) or a court appointed legal guardian.
^Please submit a Request letter/ Mode of Holding Form with all unitholders' signatures at any of our Branches or at CAMS Investor Service Centres.
The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.
^The default mode of holding will be "Joint".
^Addition of joint holder is not possible with DSP Mutual Fund.
^To update your tax status, you need to submit these documents at any of our Branches or at CAMS Investor Service Centres:
Also note that if there is a change of tax status from Individual to NRI, we can update the same only if the new bank mandate is an 'NRO Account' as the investments had originally come from Savings or NRO account.
The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.
^You can do this by opting for the IDCW Transfer Plan (Earlier known as Dividend Transfer Plan) facility. This facility lets you automatically invest or transfer the IDCW declared in a scheme in which you invested (source scheme) into another scheme of your choice (target scheme) without any effort on your part.
The minimum amount of IDCWs eligible for transfer under STP is Rs.500. If the IDCW is less than Rs.500, the IDCW will be automatically reinvested in the source scheme itself.
You can register for IDCW Transfer Plan in the following ways:
• Visit dspim.com/invest
• Download our App from the Play Store or from the App Store
• Send an email from your registered email ID to [email protected]
• Submit the IDCW Transfer Plan Registration form at any of our Branches or at any CAMS Investor Service Centres.
You can cancel your IDCW Transfer Plan in the following ways:
• Visit dspim.com/invest
• Download our App from the Play Store or from the App Store
• Call our contact centre on 1800 208 4499
• Send an email from your registered email ID to [email protected]
• Submit the IDCW Transfer Plan Cancellation form at any of our Branches or at any CAMS Investor Service Centres.
Lien can marked on either full or partial units by submitting these documents at any of our Branches or at CAMS Investor Service Centres. To mark a lien on mutual fund units:
The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means transaction requests will not be processed if KYC is not updated for all the unitholders in the folio.
^Yes, you can but only on clear units on which the 3-year lock in period has been completed.
^A lien can be removed by submitting a lien removal letter from the financier clearly specifying the scheme and unit details. The request can be submitted at any of our Branches or at CAMS Investor Service Centres.
^A lien invocation letter should be submitted by the Financier with an updated Authorized Signatory List at any of our Branches or at CAMS Investor Service Centres.
The redemption will be processed after verifying the documents and payment will be made to the financier as per the bank mandate provided in the Lien Invocation letter.
^
