1.How can I purchase units of Union Mutual Fund?

You must complete the "Know Your Customer" (KYC) verification before investing in mutual funds.

Please click here to check if you are compliant with KYC regulations. If you have not completed the KYC process, you can do the same online through our website click here.

Once you have completed your KYC verification, you may invest by visiting www.unionmf.com

Alternatively, you may submit the physical form to any of our branches or CAMS service centres near you.

2.Who can transact online?

• Adult Resident Indian Individuals with folios under individual name or joint name (not exceeding three).

• Non - Resident Indians and Persons of Indian Origin residing abroad, on a non-repatriable/full repatriation basis, excluding investors residing in the US, Canada and non-compliant FATF Countries.

• Parents / Lawful guardians on behalf of Minors

Please Note: Only investors who are KYC compliant as per the latest KYC norms can invest.

3.What payment modes can I use to purchase a Union Mutual Fund scheme?

• eNACH (NACH = National Automated Clearing House)
• Cheque: Cheque should be drawn in favour of the scheme
• Funds Transfer or RTGS/NEFT: Our bank details will be shared on request
• UPI (UPI = Unified Payments Interface)
• One Time Mandate

4.My account was debited while making an online purchase, but the transaction failed. What should I do?

This usually happens because of a payment failure at your bank’s end or, sometimes, due to poor internet connectivity.

Rest assured, if your bank 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 investorcare@unionmf.com or call us on the Toll-Free number: 18002002268 or 18005722268 (Monday to Friday - 9:00 am to 6:00 pm, Saturday - 9:00 am to 1:00 pm)

1. How can I redeem my units with Union Mutual Fund?

You may redeem your units online.(Click Here)

Alternatively, you may submit a duly filled and signed Transaction Form to any of our UNIONMF branch or at any CAMS Investor Service Centres near you.

2. Once I redeem, how soon will the redemption proceeds be credited to my bank account?

Funds will usually be credited to your registered bank account within 1-3 business days, depending on the scheme you have redeemed from.

• Liquid/Debt schemes: T+1
• Equity & Hybrid Schemes: T+2

'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.

3. How will I receive my redemption proceeds?

The redemption proceeds are paid directly to your registered bank account through RTGS/NEFT, provided we have complete core banking account details registered in the folio.

4. What can I do if I want to change my bank details along with redemption?

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 the protection of investors, to reduce fraud and other operational risk.

1.What is an Instant Access Facility?

Instant Access Facility is a facility which allows the investor to place a redemption request in the specified scheme and have the amount credited into the registered bank account using the Immediate Payment Services (IMPS) facility.(Click Here)

2.This facility is available for which schemes?

The Instant Access facility is only available under the Growth Option of Union Liquid Fund (i.e. Union Liquid Fund - Direct Plan - Growth Option and Union Liquid Fund -Growth Option). Investors of this scheme only will be allowed to avail this facility.

3.What are the prerequisites for placing a successful redemption request under the Instant Access Facility?

a) This facility is available only for Resident Indian individuals;
b) The investor should have the complete CBS (Core Banking System) account number registered in the folio along with the IFSC code; and
c) The Investor’s bank should be Immediate Payment Service (IMPS) enabled.
In addition to the above, the investor should not have placed a Change of Bank request in the folio for the past 10 days.

4.From where and when can the request for availing the Instant Access Facility be placed?

A request under Instant Access Facility can be placed through the Link from any place, at any time, as per the investor’s convenience.

5.Can I place a physical request for the Instant Access Facility?

No. A physical request cannot be placed for the Instant Access Facility. This Facility is available only for transactions through online mode.

6.What are the maximum and minimum amounts for which a redemption request under the Instant Access Facility can be made?

The maximum per day redeemable amount would be Rs 50,000 or 90% of the current value of available units with the investor, whichever is lower. The minimum redemption amount is Rs 1000/-, and in multiples of Re. 1/- thereafter.

7.Can I place a redemption request in terms of units?

Under the Instant Access facility, investors can submit redemption request only in terms of amount, and not in terms of units.

8.How would the NAV be applied to these instant redemption requests?

1) If the request is received up to 3.00 pm, the applicable NAV would be the lower of:
a) The NAV of the previous calendar day; and
b) The NAV of the calendar day on which the Instant Redemption request is received.

2) If the request is received after 3.00 pm, the applicable NAV would be the lower of:
a) The NAV of the calendar day on which such application is received, and
b) The NAV of the next calendar day.

9.Are there any charges for using this facility?

No. For using this facility, there are no additional fees or costs.

10.Is the Instant Access Facility available for units held in dematerialized mode?

No, the Instant Access Facility is not available for units held in dematerialized form. It is available only for units held in physical mode.

1. Can I switch my investment from one Union MF scheme to another Union MF scheme?

Yes, you may switch your units by visiting our website.(Click Here)

Alternatively, you may submit a transaction form to any of our branches or at any CAMS Investor Service Centres near you.

2. Is exit load applicable on switching?

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. Therefore, relevant entry or exit loads will apply.
All the information pertaining to the scheme loads is available on the relevant scheme pages on our website.

3. Is exit load applicable while switching from Direct Plan to the Regular Plan or vice versa?

No. There is no exit load applicable for switching from the Direct Plan to the Regular Plan. However, such a switch would be taxable, wherever capital gains tax applies.

General

Online SIP FAQs

1. What is a Systematic Transfer Plan (STP) Intello Facility?

STP Intello ("the facility") is a facility wherein unit holder(s) can opt to transfer variable amount(s) from designated open-ended scheme(s) of Union Mutual Fund (Source Scheme) to the designated open-ended scheme(s) of Union Mutual Fund (Target Scheme) at defined intervals. The unitholder would be required to provide a Base Instalment Amount that is intended to be transferred to the Target Scheme.

Please refer to the STP Intello form uploaded on our website www.unionmf.com for complete details about the facility.

2. What is the benefit of investing through an STP?

STP provides all the benefits that one would get in the case of an SIP. However, if you have a lumpsum amount at your disposal, you may consider investing in one scheme and then systematically transferring the amount to another scheme through the STP facility. This transfer will also benefit you from earning interest income in the transferor scheme until the entire money is systematically transferred to the transferee scheme.

3. What is the procedure for setting up an STP?

An investor having an existing folio can register for an online STP. To register an STP online, go to www.unionmf.com Log-in section

Then follow the below-given steps-
• Click on transact
• Click on STP
• Select Folio
• Choose the scheme you wish to switch from
• Select the scheme you want to switch into
• Enter units or amount
• Click on continue to confirm the transaction
• Enter OTP, which is sent on your registered email id/mobile number
After the above step, the transaction will be processed.

If the investor is unfamiliar with an online system and does not have an existing folio, the investor can fill the physical STP registration form. The details like Folio number, Transferor & Transferee scheme, STP amount, Frequency & Tenure in the enrolment form need to be clearly mentioned. Then, the duly filled-in STP form must be submitted to the nearest CAMS, ISC or AMC office.

4. How many days will it take to register my STP?

A minimum period of 8 days shall be required for registration under STP. If the required time of 8 calendar days is not met, then the STP will be processed from the next STP cycle.

5. What is the minimum amount, minimum number of instalments and the frequency available in the STP facility?

6. What will happen if my STP transactions fail for any reason?

If the minimum required balance is not available in the source scheme (switch-out scheme) for 3 consecutive attempts, the STP registered will be terminated. Similarly, the STP will be automatically terminated if all units are liquidated or withdrawn from the source scheme or pledged or upon receipt of intimation of death of the unitholder.

7. Can I modify my STP details like STP amount, STP frequency, etc.?

Yes. You can modify your existing STP details (amount and/or frequency). A written request duly filled with whatever modifications are required needs to be signed by all the unit holder(s) according to the mode of holding and sent to the Customer Service Centres (CSC) Customer Service Centres (CSC) of the AMC or its Registrar 8 days prior to the next STP date.

8. What is the online procedure to discontinue, my existing STP online?

You can cancel an existing STP, registered online or offline, by using the online portal. You must first login using your credentials, then under the quick links option, select the ongoing STP that you seek to cancel and click on 'Cancel STP'. This should be done at least 2 days prior to the next STP due date.

Alternatively, investors may discontinue the STP at any time by sending a written request to the Customer Service Centres (CSC) of the AMC or its Registrar. But in this case, the STP cancellation request must be submitted at least 8 days before the next STP due date.

1. What is a Systematic Withdrawal Plan (SWP)?

A Systematic Withdrawal Plan is a facility through which investors can withdraw fixed amounts (subject to exit load and tax deduction at source, if applicable) at a specified frequency by giving a single instruction. For example – monthly/ quarterly/ yearly withdrawal from the investments held in any mutual fund scheme. The amount shall be automatically withdrawn from the selected scheme and credited to the investor's bank account basis pre-defined SWP frequency.

Illustration:
Assume a person has registered an SWP with monthly frequency for an amount of Rs. 2000.
Total units held by the person in the scheme = 8000 units.
The Net Asset Value (NAV) of the Scheme at the time of first instalment is Rs. 20.
Units equivalent to the instalment amount shall be withdrawn = Rs. 2000/ Rs. 20 = 100 units. The amount of Rs. 2000 (subject to exit load and tax deduction at source, if applicable) shall be credited to the investor's bank account.
Units remaining after the first instalment = 8000 -100 = 7900.

2. What is the benefit of opting for SWP?

SWP is beneficial for investors seeking regular cash flows from their investments. The SWP facility provides the investor the convenience of auto-withdrawal without having to place a redemption request every time the investor wants some amount at his/her disposal.

3. What is the procedure to register for an SWP?

SWP can be registered by various modes:
Online - Log in to unionmf.com/investorlogin/
Physical – You can register an SWP by submitting a duly filled and signed SWP registration form at any of our branches or CAMS Investor Service Centres.

4. How many days will it take to register an SWP request?

A minimum period of 8 days shall be required for registration under SWP. If the required time of 8 days is not met, then the SWP will be processed from the next SWP cycle.

5. Is SWP available in all Schemes?

Yes. An SWP is offered in all schemes of Union Mutual Fund.
However, the SWP facility will not be available under demat mode of holding units.

6. What is the minimum amount, minimum number of instalments and the frequency available in the SWP Facility?

7. Is exit load applicable for an SWP?

An exit load will be charged as per the applicable load structure for the specific scheme at the time of registering the SWP.

8. Will there be any penalty if an SWP transactions fail for any reason?

There will be no penalty if an SWP transaction fails for any reason. However, if the minimum required balance is not available in the scheme for 3 consecutive attempts, the SWP registration will be terminated. The SWP will automatically be terminated if all units are liquidated or withdrawn from the scheme or pledged. Termination will also occur upon receipt of intimation of the death of the unitholder.

9. What is the procedure to discontinue an existing SWP?

An SWP can be discontinued by various modes:
Online - Log in to www.unionmf.com
Physical – You can cancel an SWP by submitting the SWP registration form at any of our branches or CAMS Investor Service Centres. This should be done at least 8 days prior to the next SWP due date.

10. Is there any end date that applies to an SWP?

The date specified by the investor in the application form shall be the end date of an SWP. If the investor does not select the SWP end date, then the SWP will continue till all units are liquidated or withdrawn from the account or pledged. If a unit holder passes away, the SWP will continue until the AMC receives a notification of the death of the unit holder.

11. Can an investor register multiple SWPs under the same folio or same the scheme?

Yes, an investor can register multiple SWPs in the same folio/ scheme.

12. What happens if an investor makes an additional investment in the scheme?

If an investor makes additional investment in the scheme, the additional amount will increase the number of units available for SWP. The SWP will continue until units are available in the source scheme.

13. What if the amount available in the scheme is less than the minimum withdrawal amount at any given time?

Investors may consider making additional investments in the Scheme to keep the SWP active. However, if for some reason, the balance in the source Scheme falls below the minimum withdrawal amount, the SWP will not be processed and on 3 consecutive failures the SWP will stand cancelled.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Statutory Details: Constitution: Union Mutual Fund has been set up as a Trust under the Indian Trusts Act, 1882; Sponsors: Union Bank of India and Dai-ichi Life Holdings, Inc.; Trustee: Union Trustee Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198198], a company incorporated under the Companies Act, 1956 with a limited liability; Investment Manager: Union Asset Management Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198201], a company incorporated under the Companies Act, 1956 with a limited liability. Registered Office: Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai - 400059. Toll Free No.18005722268/ 18002022268 Non Toll Free. 022-67483333 Fax No: 022-67483401. Copy of all Scheme Related Documents can be obtained from any of our AMC offices/ Customer Service Centres/ distributors as well as from our website www.unionmf.com

1.How do I update my bank account details in my folio?

You may change your bank account online:

• Update your bank Mandate online, instantly by clicking on www.camsonline.com (only for folios that fall within the valuation limit of Rs 1.5 lakh)
• If your folio valuation exceeds Rs 1.5 lakh, use the log-in section of www.unionmf.com

Alternatively, you may submit the physical form to any of our branches or CAMS service centres near you.

2.What documents are required to change my bank account details using a physical form?

To change the bank account details using a physical form, the following documents needs to be submitted:

1. Bank Account Registration Form signed by all the unit holder(s) according to the mode of holding.
2. Proof of existing and new bank mandate – Self attested copy of any one of the following documents (originals should be produced for verification) or wherever the original documents cannot be brought for verification, a copy should be attested by the bank:

Cancelled original cheque of the new bank mandate with first unit holder’s name and bank account number printed on the face of the cheque.
                                                                                                            OR
Bank passbook with current entries not older than 3 months containing the first unit holder’s name and bank account number.

In the absence of originals / copy / bank attested documents of the old and new bank account, the investor will need to visit Union AMC or CAMS branches for an In Person Verification [IPV] along with the original PAN / photo Identification proof and new bank document.

3.How many bank accounts can I register against one folio?

Individuals, HUFs, Sole Proprietor firms can register up to 5 bank accounts and Non-Individuals can register up to 10 bank accounts in a single folio.

4.If a folio has multiple bank accounts registered against it, to which account will the redemption or dividend proceeds be transferred?

The bank account designated as the "default" bank account will receive the redemption and dividend proceeds.

5.Can I delete any of my registered bank accounts from the folio?

You can only delete your bank account if more than one bank account is registered against the folio.
You must have at least one registered bank account in the folio, as it is mandatory for redemptions and dividend pay-outs.

1.How can I change the email ID / mobile number registered against my folio?

Email ID or mobile number registered in the folio can be changed by the following modes:

• Online Process
1. Go to Investor Hub – Update Personal Details
2. Change your email id or phone number using your PAN , folio number & OTP.

Note: Please note that this facility is limited to individual investors. Only one change is allowed at a time and it requires OTP verification at the time of change. If both, your email ID and your mobile number are not updated in our records and you wish to provide both these details or if your email ID and your mobile number are registered in our records but you wish to update both of them together, then you need to follow the offline process as given below.

• Offline Process
1. Download the request form
2. Fill in the form
3. Submit the duly filled form at any of the Investor Service Centres (ISCs) of Union Mutual Fund or Computer Age Management Services Limited, Registrar and Transfer Agent of the Schemes of Union Mutual Fund.

1.How can I register/opt out of nomination in my folio?

1. Log in to our portal

2. Select the folio
3. Update nominee/ opt out of nomination by using OTP.

Alternatively, you may submit a duly signed Nomination Form at any of the Investor Service Centres (ISCs) of Union Mutual Fund near you.

2.Can I change the nominee registered in my folio?

Yes. You can change the nominee registered in the folio by following the same process as mentioned in "How can I register / opt out of nomination in my folio?" Once completed, the new nomination will replace the existing nomination in the folio.

3.How many nominees can I register in a folio?

You can register upto three nominees. If more than one nominee is registered, the percentage allocation/ share in favour of each of the nominees should be indicated against their name. Such allocation / share should be in whole numbers only, making a total of 100 percent. If no percentage is mentioned, all nominees will get equal weightage.

4.Who can register a nominee?

Only individuals and sole proprietors can register nominations.

Non-individuals, including societies, trusts, body corporates, partnership firms, Karta of Hindu Undivided Family, and holders of Power of Attorney, cannot register nominees.

Also, registering a nominee is not allowed in a folio held on behalf of a minor.

5.Who can be appointed as a nominee?

Nominees can be:

• An Individual
• A Minor. Minor(s) can be nominated and in that event, the name and address of the guardian of the minor nominee shall be provided by the unit holder. However, in such cases, the unit holder(s) cannot be the guardian of the nominated minor.
• Central Government, State Government, a local authority; any person designated by virtue of his/her office.
• Religious or charitable trust.
• A non-resident Indian subject to the exchange controls in force from time to time.

6.Is nomination mandatory?

Nomination or declaration to opt out of nomination is mandatory.

If you do not want to add any nominee to your folio, you need to submit "Nomination Opt Out Form" to any of our branches or at any Investor Service Centres of CAMS near you.

Applications where neither nomination nor declaration for opting out of nomination is provided, are liable to be rejected.

1. How do I update my address in the folio?

To update address in the folio, the same has to be first updated in your KYC records. Please submit a KYC Form to any of our branches or CAMS Investor Service Centres near you.

Copies of all required documents must be self-attested and accompanied by originals for verification. If originals cannot be provided, copies should be attested/ verified by authorized entities as per KYC guidelines.

Once the address is updated in the KYC Registration Agency (KRA) records, it will automatically be updated in the folio.

2. My address is updated on the KYC records, but not updated in my folio. What should I do?

Please send us an email from your registered email ID to investorcare@unionmf.com or call us on 18002002268 or 18005722268 from your registered mobile number.

1. How do I change my name in the folio?

Please submit “Change of signature/ Name: Request Form” along with the following required documentation at any of our Branches or at any CAMS Investor Service Centres near you.

• KYC – KRA Acknowledgement with New Name
• Self-attested copy of PAN card with the new name/ photo identity proof exempt cases.
• Duly attested copy of Marriage Certificate / Divorce Deed / Gazetted copy of name change.

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.

2.What is the process to update Signature in folio? (Applicable to Individuals/ NRIs/ Sole Proprietors/ HUF Karta)

You may submit the “Change of signature/ Name: Request Form” IN PERSON at any of our Branches or at CAMS Investor Service Centres along with:

• A PAN card copy, OR
• Banker's attestation Letter (mandatory in case of PAN exempt cases) & attested photo identity proof.
Bring the original documents for verification.

1.How can I consolidate my multiple folios?

Multiple folios can be consolidated by submitting a form for consolidation of folios which you can submit at any of our Customer Service Centres of AMC/Registrar nearest to you.

Consolidation can occur only if all of the below-mentioned details are identical in the folios:

• Names of unit holders
• Order of unit holders
• Mode of holdings
• Tax status
• Bank details
• Nomination

Also, please ensure the following tasks are completed before you submit the request to consolidate:
• The form is signed by all unit holders irrespective of the mode of holding
• KYC is registered for all the holders

1.I have turned 18. How do I update my 'Minor' status in the records?

You can submit the Minor to Majority form at any of our branches or at CAMS Investor Service Centres along with the following documents:

• KYC acknowledgement
• Signature attestation by a guardian
• Original cheque with name and account number pre-printed

2.How can a new 'Guardian' be updated in my folio?

Change of Guardian form can be submitted at any of our branches or CAMS Investor Service Centres along with the following documents:

• KYC of the new guardian
• No Objection Letter (NOC) or Consent Letter from an existing guardian or a court order for new guardian
• Relationship proof with the guardian
• Bank attestation of the bank account of the minor where the new guardian is appended
• A notarized copy or attested copy of the Death Certificate of the deceased guardian
Please note, the new guardian must be a natural guardian (i.e., father or mother) or a court appointed legal guardian.

1.How do I change my tax status from NRI to Resident Indian or from Resident Indian to NRI?

To update your tax status, you need to submit the following documents at any of our Customer Service Centres of AMC/Registrar:

• Non-Financial Transaction Form - Change in Tax Status
• Original cancelled cheque with pre-printed name & account number of the new bank account

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 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.

1. What is a Power of Attorney (POA?)

Power of Attorney is a written authority to act for another person in specified or all legal or financial matters to act on their behalf. Mutual fund investors can issue a power of attorney to a designated person in order to operate their folios and conduct transactions on their behalf. The POA holder may have only a limited set of powers as defined in the agreement.

2. Can investment be done through a Power of Attorney (POA)?

Yes, provide the POA must be executed on stamp paper and registered in India.

3. How do I register a POA in the folio?

A notarized copy of POA can be submitted along with the purchase application. Alternatively, you may submit Non -Financial Transaction Form and a notarized copy of the POA.

The documents required for POA registration are:
• KYC acknowledgement of POA holder
• FATCA details

4. Can a POA be cancelled or revoked? What are the steps that need to be taken to cancel or revoke the POA?

Yes. The investor or POA holder will have to submit a written confirmation to cancel or revoke the POA.

5. Can a POA make or modify the nomination registered in the folio?

No, the POA can neither make nor modify the nomination registered in the folio.