These terms and conditions ("T&Cs") govern the access to and use of the online Mutual Fund execution facilitation services ("Services") provided by INDstocks Private Limited (formerly INDmoney Private Limited), a company incorporated under the Companies Act, 2013, having its registered office at 616, 6th Floor, Suncity Success Tower, Golf Course Extension Road, Sector-65, Gurugram, Haryana – 122005, India (“Company”).
Please read these T&Cs carefully before using the Services. By proceeding with the Services, you agree to be bound by these T&Cs provided by the Company.
The Company is a SEBI registered stock broker bearing SEBI Registration No: INZ000305337, and has partnered with BSE StarMF platform. By accessing, downloading, installing, or using the INDmoney mobile application for mutual fund transactions, you ("User" or "Client") agree to be bound by these Terms and all applicable laws and regulations.
INDmoney mobile application (‘Platform’) operates exclusively as an execution facilitation platform, providing direct mutual fund transactions which includes lumpsum purchases, Systematic Investment Plans (SIP), redemptions, and switching from regular to direct mutual fund schemes. The Platform serves as an order collection and execution facility and does not provide any form of investment advisory, portfolio management, research recommendations, or solicitation services regarding mutual fund investments. All investment decisions are made solely by the User based on their independent research, judgment, and risk appetite, and the Company disclaims any responsibility for investment outcomes or suitability of chosen schemes.
All mutual fund transactions processed through the Platform are executed in partnership with BSE StarMF, which acts as the intermediary between Company and Asset Management Companies (AMCs). Company has integrated with BSE StarMF platform to facilitate order processing, payment gateway services, and transaction settlement, and consequently, only mutual fund schemes available on the BSE StarMF platform can be offered through Company. User's personal details including PAN, address, bank account information, signature specimens, and KYC documents will be shared with BSE StarMF platform to facilitate mutual fund order processing and payment settlements, which will then be forwarded to relevant AMCs and Registrar & Transfer Agents (RTAs) for final processing and unit allotment.
The Platform exclusively facilitates direct mutual fund transactions where no distribution commission is payable to Company from AMCs, enabling Users to benefit from lower expense ratios associated with direct plans. All transactions executed through the Platform are tagged with Company’s trading member code INZ000305337 and processed as direct mutual fund investments, and Users can switch from regular to direct mutual fund schemes subject to the terms and conditions of respective AMCs and regulatory guidelines.
Units of mutual funds executed through the Platform may be held either in Statement of Account (SoA) mode or, at the user’s discretion, in dematerialized (demat) form in accordance with regulatory norms. By default, mutual fund units will be held and serviced under SoA mode, in which all transactions are tracked and reported by the AMC’s registrar, and consolidated statements are provided to investors. Users opting to hold mutual fund units in demat form must ensure that their demat account is appropriately linked and eligible, and are subject to the processes, charges, and operational requirements of their Depository Participant.
Users must complete mandatory KYC (Know Your Customer) verification through SEBI registered KYC Registration Agencies (KRAs) and provide accurate, complete, and updated information including PAN, Aadhaar number, bank account information, address proof, signature specimens and such other documents / information as may be required by regulatory authorities. Financial transactions, including switches, may be blocked or rejected where the User’s KYC status is incomplete, until such status is rectified in accordance with applicable regulatory norms. The Company shall not be responsible or liable for any loss, delay, or inability to process transactions arising out of or connected with the User’s incomplete, deficient, or non-compliant KYC status. Users are obligated to maintain sufficient cleared funds in their linked bank accounts at all times to cover purchase amounts, applicable charges, taxes, and any other costs associated with mutual fund transactions. Users must immediately notify Company of any changes in their personal information, contact details, bank account information, or investment preferences, and ensure compliance with all applicable SEBI, BSE, AMFI regulations, and guidelines issued from time to time. The User agrees to maintain confidentiality of their login credentials, passwords, and transaction PINs, and accepts full responsibility for all transactions executed using their account, including unauthorized access resulting from compromise of security credentials.
Mutual fund transaction processing follows established cut-off timings as prescribed by SEBI and individual AMCs, where orders placed before the applicable cut-off time are processed on the same business day, while orders received after cut-off timings are processed on the next business day at the applicable Net Asset Value (NAV). Company may set cut-off timings prior to statutory SEBI cut-off times for operational convenience and system processing requirements. Upon order placement, funds are immediately debited from the User's linked bank account, and subsequently transferred to the respective AMC either on the same day (for pre-cut-off orders) or next business day (for post-cut-off orders), with Users acknowledging that there may be interim time lag between fund debit and credit to AMC accounts.
Units are allotted by AMCs at the applicable NAV prevailing on the transaction date as per the scheme's offer document, and Company does not warrant or guarantee the accuracy of NAV calculations or unit allotments performed by AMCs. Transaction confirmations, portfolio statements, and scheme-related communications will be sent directly by AMCs to Users' registered contact details, with duplicate communications being sent through the Platform for convenience.
Redemption proceeds and payouts from mutual fund investments are credited directly by AMCs to the User's registered bank account as per the AMC's records, provided the bank account is included in the AMC's approved bank list for direct credit arrangements. Company (including the Platform) is not responsible for delays in redemption processing, or any issues arising from bank account mismatches between the User's details available with Company / MF account held with Company and AMC records.
Exit loads, expense ratios, taxes, and other charges levied by AMCs apply as per the respective Scheme Information Documents (SID) and Key Information Memorandums (KIM), and Users are responsible for understanding all costs associated with their investments before executing transactions.
By initiating any switch transaction(s) from a Regular Plan to a Direct Plan, you hereby agree and acknowledge that such transaction shall be processed in accordance with applicable SEBI regulations, Income Tax laws, and other relevant statutory provisions, and shall be deemed a redemption from the Regular Plan followed by a fresh purchase into the Direct Plan. You further acknowledge that this may give rise to capital gains tax implications (whether short-term or long-term) under prevailing tax laws, with the holding period for tax purposes resetting from the date of investment in the Direct Plan, potentially resulting an impact on your overall tax liability, investment returns, and post-tax performance. You expressly agree that all responsibilities for tax liabilities, reporting, disclosures (including in income tax returns), and compliance obligations arising from or related to such switch transactions shall lie solely with you, and INDmoney (including its affiliates, directors, officers, employees, and agents) shall bear no liability, obligation, or responsibility whatsoever in connection therewith. You further acknowledge and agree that no redemption or switch of units shall be permitted prior to completion of the statutory lock-in period, and in the case of Systematic Investment Plans (“SIPs”), each instalment shall be subject to a separate lock-in(s). Any redemption or switch requests made in respect of locked-in units shall be automatically rejected without any liability on the Company .Furthermore, you confirm that any indicative or past performance data provided by INDmoney is not indicative of future results post-switch, and you are solely responsible for evaluating the financial and tax consequences thereof, with INDmoney disclaiming all warranties, express or implied, regarding the same.
By using the Platform, Users provide unconditional and irrevocable consent for sharing their personal and financial information with BSE StarMF, Asset Management Companies, Registrar & Transfer Agents, KYC Registration Agencies (KRAs), Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI), Unique Identification Authority of India (UIDAI), Central KYC Records Registry (CKYC), Income Tax Department, SEBI, BSE, AMFI, and other regulatory authorities or government agencies as required for transaction processing, compliance verification, or regulatory reporting purposes.
Users consent to receiving transactional and promotional communications via SMS, email, and/or mobile application notifications from Company, AMCs, and their authorized representatives regarding order confirmations, portfolio updates, new scheme launches, and other investment-related information, which shall override any registration with Do Not Call (DNC) or National Do Not Call (NDNC) registries.
Personal data collected and processed through the Platform will be handled in accordance with Company's Privacy Policy and applicable data protection regulations, including the Digital Personal Data Protection Act, 2023, with appropriate security measures implemented to protect sensitive information.
ALL MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS AND THERE CAN BE NO ASSURANCE THAT SCHEME OBJECTIVES WILL BE ACHIEVED, PAST PERFORMANCE OF SCHEMES DOES NOT GUARANTEE FUTURE RESULTS, AND THE NAV OF MUTUAL FUND SCHEMES MAY FLUCTUATE BASED ON MARKET CONDITIONS, ECONOMIC FACTORS, AND PORTFOLIO PERFORMANCE.
USERS ACKNOWLEDGE THAT MUTUAL FUND INVESTMENTS DO NOT PROVIDE ASSURED RETURNS AND PRINCIPAL AMOUNTS INVESTED ARE SUBJECT TO MARKET VOLATILITY AND MAY RESULT IN CAPITAL LOSS. THE INFORMATION PROVIDED ON THE PLATFORM REGARDING MUTUAL FUNDS, INCLUDING SCHEME DETAILS, PERFORMANCE DATA, PORTFOLIO COMPOSITION, AND NAV INFORMATION, IS SOURCED FROM THIRD-PARTY DATA PROVIDERS, AMCS, AND MARKET DATA VENDORS ON AN "AS-IS" BASIS, AND COMPANY DOES NOT WARRANT THE ACCURACY, COMPLETENESS, OR TIMELINESS OF SUCH INFORMATION.
USERS ARE ADVISED TO INDEPENDENTLY VERIFY ALL INFORMATION AND READ SCHEME-RELATED DOCUMENTS INCLUDING SID, KIM, STATEMENT OF ADDITIONAL INFORMATION (SAI), AND ANNUAL REPORTS BEFORE MAKING INVESTMENT DECISIONS. PRICE DATA AND NAV INFORMATION DISPLAYED ON THE PLATFORM MAY HAVE DELAYS DUE TO CONNECTIVITY ISSUES, DATA TRANSMISSION PROBLEMS, OR THIRD-PARTY DATA PROVIDER LIMITATIONS, AND COMPANY SHALL NOT BE LIABLE FOR ANY INVESTMENT DECISIONS BASED ON DELAYED OR INACCURATE INFORMATION.
THE COMPANY DOES NOT PROVIDE TAX ADVISORY, TAX PLANNING, OR TAX CONSULTATION SERVICES OF ANY NATURE WHATSOEVER. ANY INFORMATION DISPLAYED ON THE PLATFORM RELATING TO TAX IMPLICATIONS, CAPITAL GAINS, DIVIDEND TAXATION, OR OTHER TAX MATTERS IS PROVIDED PURELY FOR GENERAL INFORMATIONAL PURPOSES AND MUST NOT BE CONSTRUED AS PROFESSIONAL TAX ADVICE OR RECOMMENDATIONS. ALL MUTUAL FUND TRANSACTIONS INCLUDING PURCHASES, REDEMPTIONS, SWITCHES, AND DIVIDEND RECEIPTS MAY ATTRACT VARIOUS TAXES INCLUDING CAPITAL GAINS TAX (SHORT-TERM AND LONG-TERM), SECURITIES TRANSACTION TAX (STT), GOODS AND SERVICES TAX (GST), INCOME TAX, SURCHARGE, CESS, AND OTHER APPLICABLE TAXES AS PER PREVAILING TAX LAWS. THE TAX IMPLICATIONS VARY SIGNIFICANTLY BASED ON INDIVIDUAL FACTORS INCLUDING RESIDENTIAL STATUS, INCOME TAX SLAB, HOLDING PERIOD, TOTAL ANNUAL INCOME, AND OTHER INVESTMENT PORTFOLIO CONSIDERATIONS. USERS ARE STRONGLY ADVISED AND RECOMMENDED TO CONSULT QUALIFIED TAX PROFESSIONALS, CHARTERED ACCOUNTANTS, OR TAX ADVISORS BEFORE MAKING INVESTMENT DECISIONS AND TO SEEK WRITTEN CONFIRMATION REGARDING TAX IMPLICATIONS OF THEIR SPECIFIC INVESTMENTS. USERS ARE SOLELY AND EXCLUSIVELY RESPONSIBLE FOR INDEPENDENTLY ASSESSING, CALCULATING, AND UNDERSTANDING ALL TAX CONSEQUENCES ARISING FROM THEIR MUTUAL FUND INVESTMENTS AND ENSURING COMPLIANCE WITH ALL APPLICABLE TAX LAWS AND FILING OBLIGATIONS.
THE COMPANY MERELY FACILITATES EXECUTION OF SWITCH TRANSACTION(S) ON YOUR INSTRUCTION AND DOES NOT DETERMINE THEIR LEGAL OR TAX CHARACTERIZATION. THE COMPANY DOES NOT PROVIDE TAX, LEGAL, FINANCIAL, OR INVESTMENT ADVICE IN CONNECTION WITH SUCH TRANSACTIONS, AND YOU ARE STRONGLY ADVISED TO CONSULT YOUR INDEPENDENT TAX OR FINANCIAL ADVISOR BEFORE INITIATING ANY SWITCH.
THE COMPANY MAKES NO REPRESENTATION, WARRANTY, GUARANTEE, OR ASSURANCE REGARDING THE ACCURACY, COMPLETENESS, OR SUITABILITY OF ANY TAX-RELATED INFORMATION, CALCULATIONS, OR PROJECTIONS DISPLAYED ON THE PLATFORM. THE COMPANY EXPRESSLY DISCLAIMS ALL WARRANTIES RELATING TO TAX IMPLICATIONS INCLUDING IMPLIED WARRANTIES OF ACCURACY OF TAX CALCULATIONS OR COMPLIANCE WITH CURRENT TAX PROVISIONS. TAX LAWS, RULES, REGULATIONS, RATES, EXEMPTIONS, AND COMPLIANCE REQUIREMENTS ARE SUBJECT TO FREQUENT CHANGES BY REGULATORY AUTHORITIES, WHICH MAY HAVE RETROSPECTIVE OR PROSPECTIVE APPLICATION AND MAY MATERIALLY AFFECT THE TAX TREATMENT OF MUTUAL FUND INVESTMENTS. THE COMPANY IS UNDER NO OBLIGATION TO MONITOR, TRACK, UPDATE, OR NOTIFY USERS REGARDING CHANGES IN TAX LAWS, AND USERS ARE SOLELY RESPONSIBLE FOR STAYING INFORMED ABOUT APPLICABLE TAX PROVISIONS AND ENSURING ONGOING COMPLIANCE. UNDER NO CIRCUMSTANCES SHALL THE COMPANY BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM TAX IMPLICATIONS OF MUTUAL FUND INVESTMENTS, INCORRECT TAX CALCULATIONS, TAX COMPLIANCE FAILURES, PENALTIES IMPOSED BY TAX AUTHORITIES, LOSS OF TAX BENEFITS, OR ANY OTHER TAX-RELATED LOSSES OR EXPENSES INCURRED BY USERS, AND THE COMPANY'S TOTAL LIABILITY FOR ALL TAX-RELATED CLAIMS SHALL NOT EXCEED THE TOTAL PLATFORM CHARGES PAID BY THE USER IN THE TWELVE MONTHS IMMEDIATELY PRECEDING ANY SUCH CLAIM.
BY USING THE COMPANY'S PLATFORM FOR MUTUAL FUND TRANSACTIONS, USERS EXPLICITLY ACKNOWLEDGE HAVING READ AND UNDERSTOOD THIS TAX LIABILITY DISCLAIMER, CONFIRM THEIR UNDERSTANDING THAT THE COMPANY DOES NOT PROVIDE TAX ADVISORY SERVICES, ACCEPT FULL RESPONSIBILITY FOR ALL TAX IMPLICATIONS OF THEIR INVESTMENT DECISIONS, AND AGREE TO SEEK INDEPENDENT PROFESSIONAL TAX ADVICE FOR ALL TAX-RELATED MATTERS. USERS AGREE TO INDEMNIFY, DEFEND, AND HOLD HARMLESS THE COMPANY FROM ANY CLAIMS, DEMANDS, ACTIONS, LOSSES, DAMAGES, COSTS, PENALTIES, OR LIABILITIES ARISING FROM USER'S TAX OBLIGATIONS, TAX COMPLIANCE FAILURES, DISPUTES WITH TAX AUTHORITIES, OR ANY OTHER TAX-RELATED MATTERS IN CONNECTION WITH MUTUAL FUND INVESTMENTS MADE THROUGH THE PLATFORM. USERS FURTHER ACKNOWLEDGE THAT THEY SHALL NOT HOLD THE COMPANY RESPONSIBLE FOR ANY TAX CONSEQUENCES ARISING FROM THEIR INVESTMENTS AND THAT THIS DISCLAIMER FORMS AN INTEGRAL PART OF THE TERMS AND CONDITIONS GOVERNING THE COMPANY'S SERVICES.
COMPANY’S LIABILITY UNDER THESE TERMS IS LIMITED TO DIRECT DAMAGES ONLY AND EXCLUDES ALL CONSEQUENTIAL, INDIRECT, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES, LOSS OF PROFITS, LOSS OF OPPORTUNITY, BUSINESS INTERRUPTION, OR ANY OTHER COMMERCIAL DAMAGES ARISING FROM THE USE OF THE PLATFORM OR MUTUAL FUND TRANSACTIONS. COMPANY SHALL NOT BE LIABLE FOR ANY LOSSES ARISING FROM SYSTEM FAILURES, NETWORK CONNECTIVITY ISSUES, POWER OUTAGES, CYBER ATTACKS, UNAUTHORIZED ACCESS, DATA BREACHES, FORCE MAJEURE EVENTS, REGULATORY CHANGES, EXCHANGE CLOSURES, AMC POLICY MODIFICATIONS, SCHEME SUSPENSIONS OR CLOSURES, TAX IMPLICATIONS OR ANY OTHER CIRCUMSTANCES BEYOND ITS REASONABLE CONTROL. THE PLATFORM'S MAXIMUM LIABILITY FOR ANY CLAIM SHALL NOT EXCEED THE TOTAL CHARGES PAID BY THE USER TO COMPANY IN THE TWELVE MONTHS PRECEDING THE CLAIM WITH REGARD TO MUTUAL FUND TRANSACTION (IF ANY). USERS ACKNOWLEDGE THAT COMPANY OPERATES AS AN INTERMEDIARY PLATFORM AND CANNOT CONTROL AMC DECISIONS, REGULATORY CHANGES, MARKET CONDITIONS, OR THIRD-PARTY SERVICE PROVIDER PERFORMANCE, AND AGREE TO HOLD COMPANY HARMLESS FROM ANY CLAIMS ARISING FROM SUCH EXTERNAL FACTORS.
USERS ACKNOWLEDGE HAVING READ AND UNDERSTOOD ALL SCHEME-RELATED DOCUMENTS BEFORE INVESTING, ACCEPT THE EXECUTION-ONLY NATURE OF THE PLATFORM, UNDERSTAND THE RISKS ASSOCIATED WITH MUTUAL FUND INVESTMENTS, PROVIDE INFORMED CONSENT FOR ALL DATA SHARING ARRANGEMENTS SPECIFIED HEREIN, AND AGREE TO BE BOUND BY THESE TERMS AND ALL APPLICABLE REGULATORY REQUIREMENTS.
THE RELATIONSHIP BETWEEN COMPANY AND USERS IS LIMITED TO THAT OF A SERVICE PROVIDER AND CLIENT FOR EXECUTION-ONLY MUTUAL FUND TRANSACTION SERVICES, AND NO FIDUCIARY, ADVISORY, OR AGENT RELATIONSHIP IS CREATED BY THESE TERMS OR THE USE OF PLATFORM SERVICES. THESE TERMS CONSTITUTE THE ENTIRE AGREEMENT BETWEEN THE PARTIES REGARDING MUTUAL FUND SERVICES AND SUPERSEDE ALL PRIOR COMMUNICATIONS, REPRESENTATIONS, OR AGREEMENTS RELATING TO THE SUBJECT MATTER HEREOF.
THE COMPANY DOES NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE. THE SERVICE IS PROVIDED IN AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE CLIENT AGREES THAT COMPANY SHALL NOT BE HELD RESPONSIBLE FOR DELAYS IN TRANSMISSION OF ORDERS DUE TO BREAKDOWN OF THE SYSTEM OR FAILURE OF COMMUNICATION FACILITIES EITHER DUE TO THE FAULT OF THE SYSTEMS OF COMPANY OR OF THE EXCHANGES OR OTHERWISE OR FOR ANY OTHER DELAY BEYOND THE REASONABLE CONTROL OF COMPANY DUE TO A BREAKDOWN OR FAILURE OF COMMUNICATION FACILITIES OR FOR ANY OTHER DELAY BEYOND THE REASONABLE CONTROL OF COMPANY.
These Terms are governed by Indian laws and regulations including the Securities and Exchange Board of India Act 1992, SEBI (Mutual Funds) Regulations 1996, SEBI (Stock Brokers and Sub-Brokers) Regulations 1992, BSE rules and bye-laws, Prevention of Money Laundering Act 2002, Foreign Exchange Management Act 1999, Information Technology Act 2000, and other applicable legislation as amended from time to time. All disputes arising from these Terms or the use of mutual fund services shall be subject to the exclusive jurisdiction of competent courts in Delhi, and Users agree to submit to such jurisdiction.
All modification to this Agreement shall be made solely at the discretion of the Company and shall be intimated to the client by a suitable modification to the terms and conditions or other applicable section on the website or in any other manner.
In the event of any one or more of the provisions contained in this Agreement becoming invalid, illegal or unenforceable in any respect under any law for the time being in force, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be prejudiced or affected thereto.
Please note that the information contained herein is subject to change without notice. Continued usage of services post-update shall be deemed acceptance. Users are advised to periodically review terms & conditions.