Frequently Asked Questions

Payments for subscriptions through NEFT/RTGS

Currently, MFU has tie-up with Kotak Mahindra 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.

Beneficiary Name Beneficiary IFSC Beneficiary Bank Name & Branch Beneficiary A/c Number
MFU E-Collection Escrow Account KKBK0000958 Kotak Mahindra Bank Ltd
Mumbai - 400021

For CAN based transactions - MFKK<<CAN>>

e-g. If your CAN is 15101BAA01 then Beneficiary A/C Number is MFKK15101BAA01

For Folio based transactions - MFKK<<PAN>>

If your PAN is BCAAA1122X then Beneficiary A/c Number is MFKKBCAAA1122X

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

NewFollow the steps given below to Add Kotak Bank as a beneficiary under your Kotak Bank account

Fund Transfer Menu → Beneficiaries → Add a New beneficiary→ Select OTHER BANK→ enter IFSC (KKBK000VRTL) → enter your Virtual Account no i.e. MFKK<<CAN/PAN>> → Confirm Virtual Account Number → Account type – Current Account → Beneficiary Name as MFU ECollection Escrow Account → Set nickname → Continue → Review New Beneficiary → Submit

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/Folio, 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 60 minutes before the respective cut off time of the transacted scheme(s), 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.