How to invest in Mutual Funds Part – 1 (A guide for Non Resident Indians)

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Non Resident Indians are required to comply with following guidelines to invest in Indian Mutual Funds.

Non-Resident Indians -

If you are investing the money from your bank account outside India, or have a Non Resident External (NRE) account or a Foreign Currency Non Resident (FCNR) account in an Indian bank:

Obtain an offer document and an application form of the scheme you wish to invest in from your investment advisor or contact the AMC's office.

Fill in the application form and be sure to mark the "NRE" or "FCNR" (as applicable) box in the "Account Type" section within the "Statutory Details" subdivision and to fill in the section "For NRI/FII/OCB" marking the "Repatriable" box, if you want to transfer the money in foreign currency back to your foreign account in the future. Also, please mark the "NRI" box in the "Mode of Holding" section.

Attach an Indian Rupee Draft (INR) if your account resides outside India or a cheque drawn on a NRE account, if you have such an account in India. If you are attaching an Indian rupee draft, please accompany the same with a Foreign Inward Remittance Certificate (FIC) from your bank.

You can switch to another scheme or redeem your investment on any business day, as defined in the offer document of the chosen scheme, by submitting a completed transaction slip, obtained from your investment advisor or AMC's office, by the stipulated time as indicated in the offer document of the chosen scheme.

You can receive the money in the form of a cheque or have it directly credited to your NRE account within the time limit specified in the offer document of the chosen scheme.

If you are investing the money from your Non Resident Ordinary (NRO) account residing in an Indian bank:

1) Obtain an application form and an offer document of the scheme you wish to invest in from a investment advisor.

2) Fill in the application form and be sure to mark the NRO box in the "Account Type" section within the "Statutory Details" subdivision and to fill in the section "For NRI/FII/OCB" marking the Non-Repatriable box as you may not be permitted to transfer funds from your NRO account to your foreign currency account unless the funds are less than a certain amount per year as stipulated by the Reserve Bank of India.

- Attach a cheque drawn on your NRO account in India for the amount you wish to invest.

- You can switch to another scheme or redeem your investment on any business day, as
defined in the offer document of the chosen scheme, by submitting a completed transaction slip, obtained from your investment advisor or us, by the stipulated time as indicated in the offer document.

- You can receive the money in the form of a cheque or have it directly credited to your NRO account within the time limit specified in the chosen scheme's offer document.

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