Terms and conditions for online transactions

1. Definitions

For the purpose of these Terms and Conditions:

• “Investor” means the person/entity applying to purchase Units of a Scheme of HDFC Mutual Fund.
• “AMC” means HDFC Asset Management Company Limited.
• “HDFC Mutual Fund” / “Fund” / “HDFC MF” means HDFC Mutual Fund and the Schemes managed by the AMC.
• “Scheme” means a specific mutual fund scheme of HDFC Mutual Fund or a Specialized Investment Fund (“SIF”) strategy launched under HDFC Mutual Fund and selected by the Investor.
• “Units” means the units of a Scheme allotted to the Investor.
• “NAV” means the Net Asset Value declared by the AMC for a particular day.
• “Application Form” includes online, physical, purchase, redemption, switch, or other transaction instructions.
• “Mode of Investment” includes investments made under the Direct Plan of the AMC and investments made under the Regular Plan through a Mutual Fund Distributor registered with the AMC. It also includes investments through AMC websites, mobile applications, branches, online platforms/applications, MFU, exchange platforms, Registered Investment Advisers (“RIAs”), distributors, and other authorised platforms.
• “Platform” means the HDFC MF Investor Portal, including the chatbot facility through the HDFC MF website and/or WhatsApp, as applicable.
• “ISID” means the Investment Strategy Information Document applicable to strategies under SIF.
• “Scheme Related Documents” means, collectively, the ISID, Key Information Memorandum (“KIM”), Statement of Additional Information (“SAI”), addenda, and other applicable documents issued for the relevant Scheme or SIF strategy.

2. General Terms and Conditions

1. I/We confirm that I/we have read, understood, and agree to abide by the applicable Scheme Related Documents, including the Investment Strategy Information Document (ISID), KIM, SAI, addenda, Foreign Account Tax Compliance Act (“FATCA”) and Common Reporting Standards (“CRS”) disclosures, Privacy Policy, Terms of Use, and all terms, conditions, rules, and regulations applicable to the relevant Scheme or SIF strategy.
2. I/We agree to comply with all applicable requirements of SEBI, AMFI, the Prevention of Money Laundering Act, 2002, FEMA, and all other applicable laws, rules, regulations, circulars, notifications, and directions, as amended from time to time.
3. I/We confirm that my/our registered mobile number and e-mail address are correct and shall be reviewed and updated periodically. I/We undertake to promptly inform the AMC, HDFC MF, or its Registrar and Transfer Agent (“RTA”) of any change in my/our details.
4. I/We confirm that I/we are not residents of the United States of America, are not US Persons under the US Securities Act of 1933, as amended, and are not residents of Canada. I/We further confirm that I/we are not providing any false confirmation or disguising my/our country of residence.
5. The AMC may rely on the declarations and confirmations provided by the Investor. In the event any confirmation or information is found to be false, incomplete, incorrect, or erroneous, the AMC may reject the transaction. Members of the HDFC Group and/or their directors, officers, and employees shall not be liable for direct, indirect, special, incidental, or consequential losses arising from such false or incorrect confirmation or information.
6. I/We confirm that the amount invested is from legitimate sources only and is not intended for contravention or evasion of any applicable Act, regulation, rule, notification, or direction issued by the Government of India or any statutory or regulatory authority.
7. I/We confirm that neither I/we nor anyone on my/our behalf has received or been induced by any rebate or gift, directly or indirectly, in making the investment or transaction.
8. I/We confirm that no indicative portfolio and/or indicative yield has been offered or communicated by HDFC AMC, HDFC MF, or the distributor in respect of the investment or transaction.
9. Where applicable, I/we confirm that the ARN holder/distributor has disclosed all commissions, including trail commissions or commissions payable through any other mode, in relation to competing schemes from among which the Scheme has been recommended.
10. By mentioning an RIA code or Mutual Fund Distributor registration code/ARN in the Application Form, I/we authorise the AMC to share details of my/our transactions in HDFC Mutual Fund Schemes with the relevant RIA and/or distributor.
11. Consolidated Account Statements/Statements of Account shall reflect Units based on net investment, namely gross subscription less applicable stamp duty, if any.
12. The Investor may opt to hold Units in dematerialised form. If no option is selected, the default option shall be “No”. The sequence of names in the Application Form must match the sequence in the Depository Participant records. Incomplete, incorrect, or unmatched demat details may render the application invalid.
13. The Application Form for demat holding must be accompanied by the latest Client Investor Master or demat account statement. Demat facility shall not be available for Daily, Weekly, or Fortnightly IDCW options.
14. Units held in dematerialised form shall be freely transferable, subject to applicable regulations and Scheme Related Documents, except Units of Equity Linked Savings Schemes during the lock-in period. Units allotted in demat form shall be credited to the Investor’s demat account on a weekly basis upon realisation of funds.
15. I/We provide consent for uploading, updating, and/or fetching my/our CKYC record from the Central KYC Records Registry.

3. Nomination Requirement

1. The Investor confirms having read and understood the nomination guidelines applicable to HDFC Mutual Fund folios.
2. New Investors investing in Mutual Fund Units must provide nomination details or opt out of nomination through physical or online mode. Nomination shall be mandatory for single holdings and optional for jointly held folios.
3. Nomination may be submitted:
   • through physical forms bearing wet signatures of all Unit holders; or
   • through online mode using two-factor authentication, with one factor being an OTP sent to the registered mobile number and e-mail address of the Unit holder.
4. Nomination shall be maintained at folio level and shall apply to investments in all Schemes under that folio.
5. Nomination may be made only by individuals holding Units in their own capacity, singly or jointly. Non-individuals, including societies, trusts, body corporates, partnership firms, Karta of HUF, Power of Attorney holders, and guardians of minor Unit holders, cannot make nominations.
6. Nomination is not permitted in a folio held by a minor Unit holder.
7. A maximum of three nominees may be appointed. Where multiple nominees are appointed, their percentage shares must be specified in whole numbers aggregating to 100%. If allocation percentages are not specified, the AMC may settle the claim equally among the nominees.
8. A minor may be appointed as nominee, subject to submission of the minor’s date of birth and guardian details.
9. A new nomination shall overwrite an existing nomination in the folio.
10. Nominee details shall include at least one personal identifier, namely PAN, driving licence number, or the last four digits of Aadhaar, together with contact details, relationship with the Investor, and date of birth where the nominee is a minor.
11. The AMC may request additional information or documents to establish the identity of a nominee or claimant, including an indemnity bond.
12. In the absence of nomination, transmission shall be processed in favour of the legal heir(s) or legal representative(s), as applicable and subject to the prescribed procedure.
13. Non-submission of choice of nomination shall not result in freezing of folios or demat accounts. Investors holding Units in physical form shall remain eligible to receive payments, lodge grievances, and avail service requests.

4. Purchase and Switch-in Transactions

1. I/We confirm that I/we understand the investment objectives, investment pattern, and risk factors applicable to the Plans/Options under the selected Scheme or SIF strategy.
2. I/We understand that past performance does not guarantee future returns and that NAV may fluctuate based on market movements.
3. A switch-in shall be treated as a purchase application. The applicable NAV for unit allotment shall be the closing NAV of the day on which the funds are available for utilisation, subject to applicable cut-off times and the Scheme Related Documents.
4. Transaction requests shall be time-stamped in accordance with the applicable Scheme Related Documents. NAV for purchase, redemption, switch-in, or switch-out transactions shall depend upon the time of receipt/completion of the transaction and, where applicable, the realisation of funds.
5. Transactions received or completed after the applicable cut-off time shall be treated as received on the next Business Day and processed accordingly. The AMC’s decision in this regard shall be final and binding.
6. I/We understand that the AMC shall not be liable for delays in crediting Scheme collection accounts by payment service providers, banks, payment aggregators, or other intermediaries, resulting in delayed unit pricing or allotment.
7. Payment for fresh or additional purchases shall be made through permitted modes, including electronic fund transfer from bank accounts registered with the Fund, subject to applicable verification and regulatory requirements.
8. Multiple investment applications under a holder’s PAN in a particular Scheme, irrespective of Plan, Option, or sub-option, received on the same Business Day may be aggregated to determine the applicable NAV and any relevant threshold.
9. For SIF strategies, aggregate investment by an Investor across all strategies offered under H-SIF at PAN and holding pattern level shall not be less than INR 10,00,000, being the Minimum Investment Threshold. Existing Investors under H-SIF may invest the minimum additional application amount specified for the relevant strategy.

5. Redemption and Switch-out Transactions

1. I/We confirm that I/we understand the investment objectives, investment pattern, and risk factors applicable to the Plans/Options under the selected Scheme or SIF strategy.
2. A switch-out shall be treated as a redemption application. The applicable NAV shall be determined based on the cut-off time applicable to redemption transactions of the relevant Scheme.
3. I/We confirm that the correct bank account details, including core banking account number and IFSC, are registered with the AMC or RTA.
4. NAV for redemption and switch-out transactions shall depend on the time at which the transaction is recorded on the AMC’s server, in accordance with the applicable cut-off time and Scheme Related Documents.
5. The AMC may make redemption and IDCW payments through direct credit arrangements with specified banks, where the Investor has a registered bank mandate. The AMC may issue a payment instrument instead of electronic payment and shall not be responsible for delays caused by the bank.
6. For H-SIF strategies, where a partial redemption or switch-out would cause the Investor’s aggregate holding across H-SIF strategies to fall below the Minimum Investment Threshold of INR 10,00,000, the AMC may reject such redemption or switch-out request entirely.

6. IDCW Disclosure

Under the Income Distribution cum Capital Withdrawal (“IDCW”) Option, distribution may be declared subject to availability of distributable surplus, computed in accordance with applicable SEBI regulations. Investors should note that IDCW amount may be distributed from the Investor’s capital, including the Equalisation Reserve, which forms part of the sale price and represents realised gains.

7. Payment Modes and NAV Applicability

1. NAV shall be determined based on receipt of the application and availability of clear funds for utilisation in the relevant Scheme collection account, subject to the applicable cut-off time.
2. A delay may occur between debit of the Investor’s bank account and credit of funds to the Scheme collection account. The AMC, its bankers, payment aggregators, and service providers shall not be liable for such delay or the resulting NAV applicability.
3. Unit allotment shall remain subject to actual receipt and realisation of funds in the Mutual Fund account before the applicable cut-off time.

Indicative Payment Timelines for Lump Sum Investments – Non-Liquid Schemes

T means the date of application, subject to the applicable cut-off time.

For the listed net banking banks, real-time credit may be technically enabled. However, where the payment aggregator is not integrated with the relevant bank, credit to the Mutual Fund account and unit allotment may occur on T+1.

Indicative Payment Timelines for SIP Investments

For SIP transactions, T means the SIP date. In certain circumstances, including delays at the bank or payment aggregator end, NACH credit and unit allotment may be delayed to T+1.

8. Net Banking, NEFT, OTM, HDFC Fund Transfer and UPI Purchases

Net Banking Purchases

1. Lumpsum purchase is permitted only through bank accounts registered in the Investor’s folio.
2. Net banking payments are permitted only through banks that provide Third Party Verification facility.
3. The transaction shall be validated by the RTA. Where the name in the bank account used for payment does not match the name in the folio, and verification cannot be completed because of insufficient proof, the allotment may be delayed, withheld, or treated as Not in Good Order (“NIGO”).
4. Units allotted, if any, may be refunded where the AMC or RTA cannot verify proof of source of funds as required.

NEFT Purchases

1. NEFT is available only to Investors who have already transferred the subscription amount into the designated Scheme collection account and wish to submit the transaction online.
2. The AMC shall not be responsible for any transfer made by the Investor into an incorrect account.

3. NAV allotment is subject to realisation of subscription funds in the designated Scheme collection account:

   Account Number: 57500002060900
   Account Name: H SIF RTGS AND NEFT COLLECTION A/C
   Account Type: Current Account
   NEFT/RTGS Code: HDFC0000060
   Beneficiary Bank: HDFC Bank
   Branch: Mumbai Fort

OTM Purchases

1. Available OTM mandates include mandates registered through physical forms and e-mandates registered online.
2. CAMS OTM (“COTM”) shall not be available for SIPs with first-instalment facility.

HDFC Fund Transfer Purchases

HDFC Fund Transfer transactions shall be subject to applicable validation, fund realisation, nomination requirements, bank account verification, and NAV applicability.

UPI Purchases

1. UPI is an instant payment system developed by the National Payments Corporation of India, an RBI-regulated entity.
2. The transaction limit under UPI is currently INR 5,00,000 per transaction per day, subject to variation by the relevant bank.
3. After selecting “Continue to Pay” on the website, the Investor shall receive a notification on the UPI application and must authorise the payment using the selected bank account.

9. SIP, Standing Instruction, OTM SIP and UPI Autopay

1. Payment of SIP with first instalment is temporarily unavailable through online registered mandates. Physical mandates may continue to be used.
2. CAMS OTM shall not be available for SIPs with first-instalment facility.
3. For SIP registration using Standing Instructions/Biller, the debit bank account must be registered in the folio and the relevant bank must support sharing of SIP instalment debit account details with the payment gateway for Third Party Payment verification.
4. Investors are advised to register SRN for SIPs using Autopay to avoid SIP cancellation due to non-availability of the debit bank account details from the bank.
5. Even if the first SIP instalment is not debited, SIP registration shall remain valid and the second instalment shall be debited on the scheduled date, provided the URN/UMRN is confirmed by the bank or service provider within 10 Business Days of the second instalment date.

UPI Autopay – SIP

1. For SIP instalments of INR 15,000 or less, subsequent instalments shall be deducted automatically.
2. For SIP instalments exceeding INR 15,000, a notification shall be sent for every instalment to the registered contact details linked with the UPI ID to complete payment.
3. UPI ID verification and mobile number verification shall be performed. The folio-registered bank account and UPI-linked bank account must be the same for successful completion of the transaction.
4. As per the applicable NPCI circular, mandates registered through e-mandate may have a maximum duration of 40 years from the date of issuance. Mandates registered through UPI Autopay shall commence from the current date and may have a maximum duration of 30 years from the date of issuance.

10. Systematic Transaction Cancellation

1. Notice for SIP cancellation must be received at least 3 days before the subsequent instalment date. Otherwise, the AMC may execute interim instalments.
2. Notice for STP/SWP cancellation must be received at least 10 Business Days before the subsequent instalment date. Otherwise, the AMC may execute interim instalments.
3. Cancellation facility applies only to registrations initiated directly through the AMC or its RTA, Computer Age Management Services Limited. The AMC shall not be liable to process cancellation requests for registrations initiated through exchanges, MFU, channel partners, or other sources.
4. SIP cancellation shall be processed after necessary validation and banker acceptance, wherever applicable.
5. Any SIP instalment already presented to the bank for debit prior to processing of the cancellation request may be debited and shall be treated as valid.
6. HDFC Mutual Fund, its RTA, and service providers shall not be responsible for any loss, damage, or compensation arising from use of this facility. The Investor assumes the entire risk and responsibility for using the facility.

11. Eligibility and Access to the Platform

1. The Platform is available to Resident Indian adults with mode of holding/operation as “Single” or “Anyone or Survivor”, who are eligible to invest in HDFC MF Schemes, have registered their mobile number and e-mail address with HDFC AMC/HDFC MF, and are not restricted by any legal, regulatory, judicial, quasi-judicial, or other authority.
2. The Platform shall not be available to US Persons or residents of Canada.
3. Investors accessing the Platform from outside India shall do so at their own risk and shall be solely responsible for compliance with applicable local laws. These Terms shall be governed by the laws of India.
4. The Platform is powered by CAMS. The terms and conditions applicable to CAMS and WhatsApp, where applicable, shall also apply.
5. The AMC may determine, add, modify, restrict, suspend, or withdraw services and facilities on the Platform at its discretion. There is no assurance that all facilities available through physical or offline mode will be available through the Platform.
6. The Investor shall be responsible for maintaining compatible hardware, software, operating systems, and uninterrupted internet connectivity for accessing the Platform.

12. Security and Transaction Execution

1. For enhanced security, Users may be required to answer authentication questions and validate their identity through an OTP sent to the registered mobile number.
2. Upon successful processing of a transaction request, a transaction completion receipt may be sent to the registered e-mail address and mobile number.
3. The User shall immediately notify HDFC AMC/HDFC MF of any unauthorised use of the Platform or other security breach.
4. A transaction request submitted on the Platform does not automatically require the AMC or HDFC MF to accept or process the transaction. The AMC may reject any request containing insufficient, incorrect, or incomplete information or documents, or for any other reason deemed appropriate.
5. Transactions may not be processed until clear funds sufficient to cover the subscription amount are received in the AMC’s bank account. Debit from the Investor’s bank account alone shall not be treated as receipt of funds by the AMC.
6. If the AMC does not receive the subscription amount within five working days from the date of the subscription transaction, the transaction shall be treated as cancelled.
7. A transaction shall be considered complete only upon written confirmation by HDFC AMC/HDFC MF.
8. Transactions once placed on the Platform cannot be cancelled by the User except where specifically permitted on the Platform.

13. Minor Investors

1. The Platform may be accessed on behalf of a minor Unit holder by the natural guardian or legal guardian.
2. The guardian shall represent the minor in all transactions until the minor attains majority.
3. The minor’s bank account details must be registered for redemption proceeds and IDCW payments. Until the minor’s bank account is opened and registered, the guardian’s bank account may be registered; however, payment shall be made only in the name of the minor Unit holder.
4. Nomination shall not be allowed in a minor’s folio until the minor attains majority.
5. Upon the minor attaining majority, the guardian’s authority to access the Platform on behalf of the minor shall terminate. The minor shall be required to complete prescribed formalities, including updating bank details, contact details, and nomination, before online facilities may be used.

14. Non-Resident Indian and Foreign Investor Declarations

I/We confirm and agree that:

1. I/We are eligible to invest in HDFC Mutual Fund Schemes under all laws applicable to me/us.
2. My/Our investments are made voluntarily, out of my/our own free will, knowledge, and understanding.
3. The relevant transaction has been or shall be executed by debiting my/our registered NRE bank account, where applicable.
4. I/We have read and understood the applicable provisions of FEMA and AMFI guidelines and authorise the AMC to release redemption or IDCW proceeds to the repatriable NRE account or another registered bank account in the folio, as applicable.
5. I/We shall notify HDFC Mutual Fund of changes in circumstances that may affect the accuracy of any declaration provided.
6. HDFC Mutual Fund, HDFC AMC, their directors, officers, employees, trustees, agents, and group companies shall not be liable for losses arising from false confirmations or incorrect declarations made by the Investor.

15. Unclaimed Redemption and IDCW Amounts

1. Unclaimed redemption and IDCW amounts may be deployed in TREPS and may also be deployed in other permissible instruments, including call money market instruments, money market instruments, or a separate plan under an Overnight, Liquid, or Money Market Mutual Fund Scheme.
2. Investors claiming unclaimed amounts within three years from the due date shall receive the original unclaimed amount along with income earned on its deployment.
3. Investors claiming such amounts after three years shall receive the original unclaimed amount along with income earned on deployment up to the end of the third year. Income earned thereafter shall be used for investor education purposes.
4. The AMC shall make continuous efforts to remind Investors to claim unclaimed amounts.
5. Information on unclaimed amounts and prevailing values shall be disclosed through periodic Statements of Account and/or Consolidated Account Statements.
6. The investment management fee charged by the AMC for managing unclaimed amounts shall not exceed 50 basis points.
7. Investors may trace inactive and unclaimed Mutual Fund folios through the MITRA service platform where no financial or non-financial transaction has taken place in the previous 10 years but Unit balance remains available.

16. Disclaimers and Limitation of Liability

1. The Platform is provided on an “as is” and “as available” basis.
2. The AMC and HDFC MF do not warrant uninterrupted, error-free, secure, or virus-free access to the Platform.
3. The internet is susceptible to fraud, hacking, misuse, technical failures, and other risks. The AMC and HDFC MF shall not be liable for loss arising from such events.
4. HDFC AMC/HDFC MF shall not be liable for disruption, delay, non-availability of the Platform, network failure, technical faults, software or hardware errors, payment gateway failure, banking failure, force majeure events, or any cause beyond its control.
5. HDFC AMC/HDFC MF shall not be liable for unauthorised transactions occurring through the Platform. The User shall indemnify and hold HDFC AMC/HDFC MF harmless against claims, losses, costs, or damages arising from unauthorised use, fraud, negligence, error, misconduct, or breach of these Terms by the User.
6. The User is solely responsible for accuracy of information provided to the AMC, HDFC MF, RTA, banks, payment gateways, or the Platform. The AMC and HDFC MF shall not be responsible for loss caused by incorrect information, including incorrect bank account details.

17. Disclosure and Use of Personal Information

The AMC, HDFC MF, and their service providers may use or disclose personal information for the following purposes:

• processing transaction and service requests;
• sending administrative notices, alerts, advice, notifications, and communications;
• analysing Platform usage and improving services;
• market research, project planning, troubleshooting, fraud detection, and prevention;
• compliance with applicable laws and directions of Indian or foreign statutory, regulatory, judicial, or quasi-judicial authorities, including FIU-IND;
• sharing with sponsors, trustees, employees, agents, institutions, and third-party service providers subject to confidentiality arrangements;
• participation in telecommunication or electronic clearing networks;
• fraud prevention and legal compliance; and
• sending promotional information, materials, and alerts through mobile number, e-mail, telecall, SMS, or other permitted means.

The AMC may record telephonic conversations for quality-control purposes. The Investor may opt out of promotional communications by contacting the toll-free numbers specified by HDFC MF or registering under its Do Not Call Register.

18. Indemnity

The User shall indemnify and keep indemnified HDFC AMC/HDFC MF against all claims, liabilities, losses, damages, costs, and expenses incurred directly or indirectly due to:

• access provided to the Platform and its facilities;
• unauthorised use of the Platform through the User’s personal or financial information;
• actions taken or not taken in good faith on electronic instructions received from the User;
• fraud, negligence, mistake, misconduct, illegal or improper use by the User;
• delay or failure to process transactions due to error, defect, interruption, or any other reason; or
• breach or non-compliance with these Terms.

19. Governing Law, Jurisdiction and Arbitration

1. These Terms and the use of the Platform shall be governed by the laws of the Republic of India.
2. The User and HDFC AMC/HDFC MF agree to submit to the exclusive jurisdiction of the courts in Mumbai in respect of disputes, claims, or matters arising from these Terms.
3. Any dispute shall be settled through arbitration in accordance with the Arbitration and Conciliation Act, 1996. HDFC AMC shall nominate the sole arbitrator. The place of arbitration shall be Mumbai and the language of arbitration shall be English.

20. Amendments, Suspension and Termination

1. HDFC AMC may amend or modify these Terms at any time, including to comply with legal or regulatory changes, correct inaccuracies, reflect changes in services, or address User requirements.
2. Continued use of the Platform after modification of these Terms shall constitute acceptance of the revised Terms.
3. HDFC AMC may suspend, restrict, modify, withdraw, or terminate access to the Platform or any facility at its sole discretion, including due to inactive User ID, non-compliance with Terms, death, insolvency, bankruptcy, legal or regulatory restriction, or any other reason considered appropriate by the AMC.
4. HDFC AMC shall not be liable for any loss arising from suspension, withdrawal, restriction, or termination of access or facilities.

21. User Communication and Grievance Redressal

For comments, feedback, complaints, or grievances regarding the Platform or online services, Investors may contact HDFC Mutual Fund through the toll-free numbers:

1800 3010 6767
1800 419 7676

or through the contact channels made available by HDFC Mutual Fund.

22. Interpretation and Precedence

1. Headings are for convenience only and shall not affect interpretation of these Terms.
2. References to “you”, “your”, and “User” include singular and plural forms. References to masculine gender include feminine and neuter genders.
3. In case of any conflict between these Terms and the Scheme Related Documents, the provisions of the Scheme Related Documents, including the applicable ISID, KIM, SAI, and addenda, shall prevail.