Mutual Funds

The full form of NAV is Net Asset Value, which is the mutual fund's per-share value. It is the amount you pay or get when you buy or sell a mutual fund share. 

Yes, by investing in specific mutual funds like ELSS (Equity Linked Savings Scheme), you can save on taxes. These investments qualify for tax deductions under Section 80C of the Income Tax Act, helping you reduce your taxable income.

An NFO, or New Fund Offer, is the first time a new mutual fund scheme is offered to the public.

Yes, we have an option of Flexi SIP where we can pause and restart the SIP.
We also give an option to edit our SIP anytime. Follow the steps below to change the SIP amount.
Step 1: Go to the SIP section, under mutual fund dashboard.
Step 2: Open SIP Summary Page and click on manage SIP
Step 3: A bottom sheet will appear, click on edit SIP.
Step 4: An invest page will open, here you can edit your amount.

Note : Maximum Mandate amount should cater the new updated SIP amount.
For Example, if you have started a SIP via UPI and you have created a mandate for Rs 10000. In this case if you edit your SIP amount to 15000, you will receive invalid input.
You can edit the amount between SIP minimum investment amount ( created by AMC )  to maximum mandate amount ( created by user )

Journey to download the ELSS report on the INDmoney mobile app:
Step 1 → Go to the “My Profile” section by clicking on your profile picture on the left side of the screen. 
Step 2 → Scroll down and select Mutual Fund account ( BSE ) from the “account details” section
Step 3 → Click on the “ELSS Report” button from the “Reports” section. 
Step 4 → “Select Financial Year” and download the ELSS report.

Step 1 → Select the “Mutual Funds” tab
Step 2 → Click on the down arrow near the “overall portfolio”. A bottom sheet will appear. 
Step 3 → Click on the “refresh portfolio” button on the bottom sheet. 
Step 4 → Enter OTP
Step 5 → Click “my funds” to see your external portfolio. 

Below are the steps to cancel ongoing SIP from INDMoney. 
Step 1 → Select SIP chiclet from the “Orders” Tab. 
Step 2 → Select the SIP you want to cancel 
Step 3 → Click on the “Manage SIP” button. 
Step 4 → Select “Cancel SIP” from the Manage SIP bottom sheet
Step 5 → Click on Cancel SIP from the bottom sheet 

Adding a nominee to your mutual funds makes it simpler and faster to transfer your investment to your chosen nominee if something happens to you. It's a way to ensure your investments are easily passed on to the person you choose, without complications.

You cannot remove an external portfolio once you have fetched it on the INDmoney App platform. 

If your SIP falls under a non-business day then SIP will get processed on the next business day.

To check this → You can see your SIP amount separately under the SIP chicklet in the “Orders” Tab. 
Note: If you have redeemed that particular fund once, you will not be able to you cannot track it separately. 

Here are the steps involved to redeem you mutual funds
Step 1 --> On the INDmoney App, go to the main dashboard and click on mutual funds.
Step 2 --> Once you get to the Mutual Fund Main Home Page, select the My Funds tab.
Step 3 --> On the My Funds tab, select the mutual funds you want to redeem.
Step 4 --> After selecting the fund, a bottom sheet will open. Click on the View Details Button.
Step 5 --> Click on Redeem Button. A bottom sheet open, You can select between 1. Redeem One-Time or SWP (Systematic Withdrawal Plan)
Step 6 --> Enter the amount you want to redeem.
Step 7 --> Enter the OTP
Step 8 --> A screen will appear where you will find your sell order details. You will get the NAV date and the date when the amount will be credited in your bank account.