Currently, this feature supports the following modes of electronic payment:
- Net Banking
It may be noted that in case of Net Banking payments, MFU’s Escrow Account is credited at the earliest on T+1 business /working day, where T refers to the payment confirmation day.
NEFT / RTGS payments shall be made to the Virtual Account Number (VAN), which will be the Bank Code suffixed with the PAN Number of the Sole / First Holder or the Guardian in case of Minor. For example, if the PAN of the First holder is AAAAA1234B and if the funds are being transferred to Kotak Bank, then the VAN shall be MFKKAAAAA1234B.
It is strongly recommend that funds are transferred through NEFT/RTGS for transactions where NAV applicability is based on the "Fund Realisation Basis" so that we will be able to receive funds and the amount shall be transferred to AMC on the same day.