MF INVESTMENT ACCOUNT

The Customer hereby authorizes the Bank, at his / their risk and cost, all or any of the following:

• To subscribe to the units of the mutual fund & securities on his/their behalf and to pay for the units so purchased, on Customer's specific instructions;
• To purchase and redeem units of mutual funds on his/their behalf and to pay for the units so purchased, on Customer's specific instructions;
• To receive the account statement(s) and any other communication from the mutual fund pertaining to the above said units and/or to acknowledge receipt of the same;
• To redeem / sell the units held by Customer (whether solely or jointly with others) and to receive the payment of the redemption/ sale price and acknowledge receipt of the same, based on Customer specific instructions;
• To sign all such writings and do all such acts as may be required for redeeming any units;
• To collect, receive and give good and effectual receipts and discharges for any sum including dividend or income arising from the units and to sign and endorse dividend warrants;
• To collect and deposit monies in an account opened in Customer's name with the Bank and to make such debits in the said account as may be necessary;
• To correspond with and give notice to the mutual fund and the corresponding asset management company on behalf of the Customer;
• To instruct the mutual fund and/or the corresponding asset management company to make note of instructions with regard to nomination/change in investment plan/any other changes.
• To do, perform and execute all such other acts, deeds, instruments, matters and things for and on Customer's behalf as the Bank may think fit in accordance with the Investment Scheme and any related writings about these premises as fully and effectually and to all intents and purposes as the Customer could do if Customer were personally present Customer hereby agrees and confirms that all such acts and deeds done for and on behalf of the Customer shall be binding on him / them and their successors & legal heirs.

The customer further agrees and undertakes that:

• The customer understands that the bank may not send any communication received from the AMC to him / them.
• Transaction rights will be pursuant to the customer executing and granting a Power of Attorney (POA) or a mandate as the case may be in favour of the bank, in the manner and form as prescribed by the bank from time to time. POA or a mandate as the case may be will be applicable to all Investment Accounts whether presently existing or to be opened in future.
• All purchase requests are subject to the threshold limits as set by the AMC. All redemption requests are subject to sufficient mutual fund unit balance and on final discretion of the AMC / RTA. The unit balance refers to the balance units in a folio for a customer.
• Save and except under conditions beyond the reasonable control of the Bank, all requests received by Bank prior to the cut off time shall be processed on best effort basis on the same day & all requests received after cut off time shall be processed on next business day. Such 'cut off-time' shall be communicated by the Bank to the customer on website from time to time.
• All instructions including instructions for modification shall be given only by the Customer named in bank's records and shall be binding on the Customer personally.
• The Bank may refuse to act on any instruction unless instructions are given in writing in a manner and form as prescribed by the Bank or through the phone banking facility of the Bank subject to the Bank's absolute right to verify such instructions. Customer hereby consents and authorizes the Bank to record all or any communication between Customer and the Bank's officials / agents. Further Customer agrees and understands that, the Bank shall have no responsibility to determine the authenticity of any instructions given or purported to be given by the Customer. The Customer shall not hold the Bank liable on account of the Bank acting in good faith on any of Customer's instructions or instructions purported to be given by the Customer, orally or in writing.
• The Bank may in its own discretion decide not to carry out the Customer's instructions where the Bank has reason to believe (which decision of the Bank the Customer shall not question or dispute) that the instructions are not genuine or are otherwise improper or unclear or are in a manner that raise a doubt.
• Customer agrees and undertakes that notwithstanding anything contrary contained anywhere, the Customer shall not hold Bank responsible and the Bank shall not be liable for any loss, claim or damages of whatsoever nature, if any instruction(s) of the Customer is not carried out by the Bank for any reason whatsoever nature.
• The Customer agrees and understands that the Bank is required to receive clear written instructions from the Customer to enable the Bank to effect fund transfer activities on behalf of the Customer.
• The Customer hereby indemnifies and shall keep indemnified the Bank against any loss, claim or damages of whatsoever nature which Bank may suffer on account of any improper / fraudulent fund transfer instruction purported to be received from the Customer.
• The Customer agrees that the Bank shall not be obliged to accept from the Customer any oral or facsimile instructions. In order to, however, induce the Bank to act upon communications and instructions transmitted by manual procedures (Facsimile, Mail, Telephone only) he/they hereby irrevocably agree that, absent the Bank(s) gross negligence, bad faith or willful misconduct, as long as the Bank acts in compliance with such authorization/instruction, the Bank shall be indemnified for and held free and harmless from and against any and all responsibility for, any and all costs, claims, losses or liabilities of any nature (direct or indirect) resulting from any act or omission (or any delay) in response to instructions to the Bank to transfer funds or purchase, sell or otherwise dispose off units, together with any and all attendant costs and expenses including the Bank(s) reasonable legal fees and expenses, collectively referred to as losses.
• The Customer also acknowledges that the security and control procedures provided by the Bank are designed to verify the source of communication and not to detect errors in transmission or content including discrepancies between names and account numbers and that the Bank, or any intermediary, may execute an instruction by reference to account number only, even if the name on the account is also provided. Nothing contained herein shall require the Bank to violate any applicable laws, rules or procedures/instructions. The Bank shall have no further duty to verify the content of any instruction and communications, whether or not authorized, sent in its name and accepted by the Bank.
• The Customer confirms to have read and understood the terms and conditions of the Offer Document of the Mutual Fund. The Bank shall cause to make available to the Customer on the website of the Bank Offer documents of the schemes, annual reports, and addendums in respect of the Mutual Fund.
• The Customer confirms that the Bank is not responsible in any manner for the execution of the transaction and that the RTA / AMC are solely responsible for any act or omission in respect of the execution of transaction.
• Folios created through this route or existing folios used for this facility are deemed to be online folios by the AMC/RTA and customer can approach AMC directly for the transactions done.
• The Customer expressly agrees and acknowledges that any information contained in the Bank's brochure or other material or otherwise communicated by the Bank shall not be construed by him/them as investment and that all decisions to purchase or sell units made by him/them shall be on the basis of his/their own personal judgment arrived at after due consideration. He/they understand and agree that the Bank does not in any manner: a. provide any buy/sell or other recommendations except in the case of Mutual Funds wherein the Bank provides a recommendation list based on research; or b. That all rights and privileges granted in the Mandate shall stand cancelled should the customer move to a country in whose jurisdiction these facilities cannot be extended, as informed by the Bank from time to time. c. The NRI Customer hereby agrees to indemnify and keep indemnified the Bank against any losses, claims, costs, charges and expenses arising from or suffered by the Bank by reason of non-compliance by the NRI customer of the applicable laws.”
• The Customer is entitled to terminate this service by giving prior notice in writing to the Bank and the Bank shall require at least seven working days for giving effect to the same. The Customer agrees not to effect any transactions consequent to the receipt of such termination notice by the Bank provided that the Customer shall not be relieved of its obligations hereunder, notwithstanding such termination, incurred prior to the date on which such termination shall become effective. Upon termination of the services, the money and units with the Bank pursuant to thereto may be paid or delivered (as the case may be) by the Bank, after deduction of the Bank's dues if any, to the Customer and the same shall be a valid and complete discharge to the Bank.
• In case the investment is made in the name of a minor, the minor shall be the first and sole holder in the account represented by the natural guardian or a court appointed guardian. There shall not be any joint accounts with minor as the first holder or joint holder.
• The value of the customer's units may fluctuate. If he/they redeem his/their units, he/they may receive more or less than he/they paid depending upon the market value of the securities in the fund or trust at the time of redemption. Past results are not a guarantee to future performance. Yield or performance fluctuates and reflects past results. Yield or a fund's past performance should not be considered as an indication or guarantee of future yields or results.
• The Bank shall be under no duty to assess the prudence or otherwise of any instructions given by the customer(s) in case of an execution based transaction and would be justified in acting on his/their instructions irrespective of their prudence or otherwise.
• The service is provided at sole discretion of the bank and may be withdrawn without prior notice. The bank may levy charges at its sole discretion in respect of these services.
• Information displayed on the bank's website is based on data received from the AMC/RTA & subject to change without notice
• For Non-Resident Indian (NRI) customers - Transaction rights will be pursuant the customer agreeing to: a. undertaking to keep the Bank informed about the change in his country of residence forthwith; b. That all rights and privileges granted in the Mandate shall stand cancelled should the customer move to a country in whose jurisdiction these facilities cannot be extended, as informed by the Bank from time to time. c. The NRI Customer hereby agrees to indemnify and keep indemnified the Bank against any losses, claims, costs, charges and expenses arising from or suffered by the Bank by reason of non-compliance by the NRI customer of the applicable laws.
• The Customer is entitled to terminate this service by giving notice in writing to the Bank and the Bank shall require at least seven working days for giving effect to the same. The Customer agrees not to effect any transactions consequent to the receipt of such termination notice by the Bank provided that the Customer shall not be relieved of its obligations hereunder, notwithstanding such termination, incurred prior to the date on which such termination shall become effective. Upon termination of the services, the money and units with the Bank pursuant to thereto may be paid or delivered (as the case may be) by the Bank, after deduction of the Bank's dues if any, to the Customer and the same shall be a valid and complete discharge to the Bank.
• The customer is aware that as per AMFI guidelines third party funding is not allowed for mutual fund subscription. The customer agrees that in case of payment towards purchase of mutual fund scheme units/setting up of MFSI/setting up of SIP is from a joint account, the first named applicant/investor has to be one of the joint holders in the said joint account.
• Units purchased in Demat Mode will not be shown in the Investment account and can be viewed in the Investor’s Demat account.
• In case of standing instruction of daily frequency requests are not processed on weekends and holidays.
• Customer agree that he/she has been disclosed all the commissions (in the form of upfront or trail commission or any other mode), payable to the bank for different competing schemes of various Mutual Funds from amongst which the scheme is being recommended.
• For scheduled transactions customer should ensure that the account is funded one calendar day prior to execution.

TERMS AND CONDITIONS FOR AUTHENTICATION OF MUTUAL FUND TRANSACTIONS THROUGH OTP

• It is to be noted that the authentication of all the mutual fund transactions i.e., purchase and redemptions done through online mode shall be carried out using an OTP based authentication system. An OTP will be sent to your registered email id & mobile phone number via email/SMS in order to complete the mutual fund transactions. You must input the OTP sent to your email/ mobile phone number in order to complete the respective online mutual fund transaction request placed by you via the Bank.
• The OTP is sent only to the First account holder mobile phone number and/or email id registered with the Bank in case of all Inflow transaction (All Purchase/SIP/STP/SI/) and for all the outflow transaction (switches and Redemption transaction for existing folio) the OTP will be sent on registered mobile number and email id registered on the folio with respective AMCs.
• Please note that as per the guidelines provided by SEBI, with effect from [*], all the redemptions of the mutual funds shall be carried out by the Bank using two-factor authentication system, wherein a link with specific details of redemptions shall be shared with you on the email id registered by you with the Bank and on confirming the same, an OTP will be shared on your mobile number and email id registered with the respective AMC. Make sure your mobile number and email id is updated accordingly with respective AMC’s in which you have made investments. If not registered/updated, make sure you contact your relationship managers and get the same done/updated.
• If you are unable to provide your OTP, or if the authentication through the OTP fails, Bank/RTA/AMC may not carry out your online mutual fund transactions request. You agree that the Bank shall not be liable in any way in case OTP authentication is not completed or rejected at the AMC’s end and transaction will be ceased and not processed in that case, regardless of what the reasons may be.
• No authority or institution asks for any information like OTP, over the phone call. The OTP is to be inserted by inputting it. Do not share OTP with anyone, including bank officials over the call.
• While making a payment and entering OTP, be sure to double-verify the details of relating the mutual fund transaction.
• OTPs are valid only for a short period of time. In case of you inputting incorrect OTP for 5 consecutive times, your authentication process will be locked for 30 minutes and you will not be able to carry out the mutual fund transaction in the lock-in period. Alternatively you can call our 24 hours customer contact centre on 1860 266 2666 or visit your nearest branch to resolve the problem.

DISCLAIMERS: Kotak Mahindra Bank is an AMFI Registered Mutual Fund Distributor. Bank is Distributing the various Mutual Fund Schemes of its Affiliates /Subsidiaries/Group Companies (“Enitity/Entities”). Mutual Funds Schemes are not Bank deposits or obligations of or guaranteed by Kotak Bank. Bank is not liable or responsible for various actual or potential conflicts of interest that may arise between Bank or its entities and an investor of Mutual Funds Scheme(s), as a result of the various investment and/or commercial businesses and/or activities of the Entity/Entities. Bank shall bear no responsibility for any loss or shortfall resulting from the operations of Mutual Fund Schemes. MF Investment Account - View Rights: This means the right to view investments into units of Mutual Fund effected by the Bank at the request of the customer. Such view rights are available to MF Investment Account customers at their request. MF Investment Account Statements: The Bank may provide a facility to its customer for receiving statements on email. These statements may include but are not limited to transaction statement and holding statements. The Customer by requesting the Bank to furnish such particulars and details and statements by e-mail declares and confirms that he is aware of the risks concerning the e-mail and shall not hold the Bank liable therefore. The bank may also send a physical statement of the investment account to the customer at a frequency that it may decide from time to time. These statements may include but are not limited to transaction statement and holding statements. The customer undertakes to promptly inform the Bank in case any change to his email id or mailing address. Customer agrees that in the event of breach of any of the terms by the customer and/or any agent or representative, the customer shall be solely liable to pay damages and compensation including all direct and indirect damages, costs, charges and expenses that may be caused to or incurred or suffered by the Bank due to such breach. While the Bank shall use reasonable precautions, these services are provided on "No warranty No risk basis". For further information on mutual fund tariff please refer to this link: The aforesaid is for information purposes only and should not be construed to be investment advice under SEBI (Investment Advisory) Regulations. In the preparation of the material contained in this document, Kotak Mahindra Bank has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the Kotak Mahindra Bank and/or its affiliates and which may have been made available to Kotak Mahindra Bank and/or its affiliates. Information gathered & material used in this document is believed to be from reliable sources. Kotak Mahindra Bank however does not warrant the accuracy, reasonableness and/or completeness of any information. For data reference to any third party in this material no such party will assume any liability for the same. Kotak Mahindra Bank and/or any affiliate of Kotak Mahindra Bank does not in any way through this material solicit any offer for purchase, sale or any financial transaction/commodities/products of any financial instrument dealt in this material. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. We have included statements/opinions/recommendations in this document which contain words or phrases such as "will", "expect" "should" and similar expressions or variations of such expressions, that are "forward looking statements". Actual results may differ materially from those suggested by the forward looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the industry. By their nature, certain market risk disclosures are only estimates and could be materially different from what actually occurs in the future. As a result, actual future gains or losses could materially differ from those that have been estimated. Kotak Mahindra Bank (including its affiliates) and any of its officers directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/ are liable for any decision taken on the basis of this material. The investments discussed in this material may not be suitable for all investors. Any person subscribing to or investing in any product/financial instruments should do so on the basis of and after verifying the terms attached to such product/financial instrument. Financial products and instruments are subject to market risks and yields may fluctuate depending on various factors affecting capital/debt markets. Please note that past performance of the financial products and instruments does not necessarily indicate the future prospects and performance thereof. Such past performance may or may not be sustained in future. Kotak Mahindra Bank (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have long or short positions in, and buy or sell the securities mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation in the financial instruments/products/commodities discussed herein or act as advisor or lender / borrower in respect of such securities/financial instruments/products/commodities or have other potential conflict of interest with respect to any recommendation and related information and opinions. The said persons may have acted upon and/or in a manner contradictory with the information contained here. No part of this material may be duplicated in whole or in part in any form and or redistributed without the prior written consent of Kotak Mahindra Bank. This material is strictly confidential to the recipient and should not be reproduced or disseminated to anyone else Kotak Mahindra Bank is not liable or responsible for any loss or shortfall resulting from the operations of the scheme. This material is not a research report as per the SEBI (Research Analyst) Regulations, 2014. We may or may not have any relation with Kotak AMC. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. AMFI Registration Number (ARN) 1390.