Frequently Asked Questions

Payments for subscriptions through NEFT/RTGS

Currently, MFU has tie-up with Kotak Mahindra Bank and ICICI Bank for transferring funds against your transactions via NEFT/RTGS.

Please note the beneficiary details as given below to be used for making the NEFT / RTGS payments.

  1. If made to Kotak Mahindra Bank:
    Beneficiary Name Beneficiary IFSC Beneficiary Bank Name & Branch Beneficiary A/c Number
    MFU E-Collection Escrow Account KKBK0000958 Kotak Mahindra Bank Ltd
    II -5C , MITTAL COURT ,
    224 , NARIMAN POINT
    Mumbai - 400021
    MFKK<<CAN>>

    The Beneficiary A/c Number is a combination of ‘MFKK’ followed by your CAN. The type of account is ‘Current’.

  2. If made to ICICI Bank:
    Beneficiary Name Beneficiary IFSC Beneficiary Bank Name & Branch Beneficiary A/c Number
    MFU E-Collection Escrow Account ICIC0000104 ICICI Bank Ltd.
    CMS Branch
    ICICI Bank Ltd. CMS,
    EMPIRE COMPLEX,
    LOWER PAREL,
    MUMBAI 400 013
    MFIB<<CAN>>

    The Beneficiary A/c Number is a combination of ‘MFIB’ followed by your CAN. The type of account is ‘Current’.

You will have to register at least one of the Beneficiary A/c details mentioned above as a beneficiary in your bank accounts registered under the CAN, from where you wish to make the payment.

Physical Transactions:

In case of physical transactions using MFU forms where the payment is done through NEFT/RTGS, please mention the ‘UTR Number’ (if available) or the ‘Beneficiary/Virtual A/c No’ as the payment reference number in the transaction form and enclose the proof of payment through NEFT/RTGS.

Electronic Transactions:

While capturing the transaction electronically through MFU, please choose NEFT or RTGS as the Payment Type on the Payment Details page. Please tick ‘Beneficiary/Virtual A/c No. already registered’ check box and enter the ‘Beneficiary/Virtual A/c No.’ to which the payment is/will be made.

If the NEFT/RTGS is already done, then tick ‘NEFT/RTGS already done’ check box and specify the UTR Number. If the NEFT/RTGS is not done at the time of transaction, please transfer the funds to the specified Beneficiary A/c via NEFT/RTGS from your bank account after successful submission of the transaction.

Credit Time for NAV Applicability purposes:

The Funds transferred through NEFT/RTGS into the MFU E-Collection Escrow Account will be transferred to the respective AMC accounts in proportion to the underlying investments and the time of credit to the AMC accounts will be considered for NAV applicability, if required, as per the respective scheme features.

Note: The funds transferred should be credited to MFU Escrow Account by at least 30 minutes before the respective cut off time of 2pm or 3pm as the case may be to be assured of transfer to AMC account before the cut off time. Any credit received by MFU after that will be transferred to AMC on best effort basis. MFU will not be liable for any delay in transferring the amount to AMC.