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Mutual Funds
What is Mutual Fund Online?
Mutual Fund Online is a service for ICICI Bank Savings Account holders that allows you to invest in mutual funds through internet banking/iMobile.
Who can use Mutual Fund Online?
All resident Indians with an ICICI Bank Savings Account (single or either/survivor) can register.
How do I register for Mutual Fund Online?
If Mode of operation is single, then customer can login iMobile > go to Mutual fund section dashboard and complete the MF KYC digitally .
If Mode of operation is other than single than follow the below process :-
Download MF online registration form.
Submit it at any ICICI Bank branch along with:
Self-attested PAN copy
KYC acknowledgement or status screen
All account holders must be KYC compliant.
Registration takes about 5-6 working days.
What documents are required for registration?
PAN copy
KYC acknowledgement or status print from CVL KRA
How do I check my KYC status?
Visit CVL KRA and enter your PAN under the "KYC Inquiry" option.
Why is KYC required?
As per SEBI rules, KYC is mandatory to invest in mutual funds. It ensures that your identity, address, and other details are verified once for all market intermediaries.
How do I buy mutual funds online?
Log in to www.icicibank.com
Go to Investment & Insurance > Invest Online > Buy Mutual Funds
Select schemes by AMC and Invest
Can I cancel a mutual fund transaction?
No. Once placed, a mutual fund transaction cannot be cancelled.
How do I redeem (sell) mutual funds online?
Go to "My Portfolio"
Select the fund from “My Funds”
Click on 3 dots and Select “sell” and place the sell order
Amount will be credited to your bank account in 3–4 working days.
When will I receive the redemption amount?
The amount will be directly credited to your AMC registered mandate account in 3-4 working days.
What is the cut-off time for transactions?
Liquid & Overnight Funds: 12:30 PM
Other Funds: 2:00 PM
Redemptions (all schemes): 2:00 PM
- Transactions after these times will be processed for the next business day's NAV.
What is mutual fund?
A mutual fund pools money from many investors to invest in stocks, bonds, or money market instruments, based on a common investment goal.
What is NAV (Net Asset Value)?
NAV = (Total Assets - Liabilities) / Total Outstanding Units
It is the per-unit market value of a fund. Declared every business day.
What is a growth option in mutual funds?
All earnings are reinvested. Suitable for long-term investments. No periodic payouts.
What is a dividend option?
You receive earnings either as cash (payout) or reinvested as extra units (reinvest).
What is repurchase/redemption price?
It is the price at which the fund buys back your units, based on the latest NAV.
Is entry load applicable?
No. As per SEBI, entry loads are not allowed for mutual fund purchases since August 1, 2009.
How do I update my address, bank account, or nominee details?
For address/bank changes:
Customer first need to update the address in KRA KYC then same will get automatically updated in the AMC folio
For Bank account updation customer can do it through MF central or respective AMCs’
Is signature required for joint account holders?
Yes, all joint holders signature are mandatory depend on the holding pattern (Single/Jointly)
What schemes are available for online purchase?
You have thousand of schemes to choose from leading fund houses via Internet Banking/iMobile
How is a mutual fund set up?
A sponsor creates a Trust, which appoints an AMC. The trustees oversee compliance and investor interest.
What factors should I consider before investing in a mutual fund?
Risk appetite
Type and size of fund
Diversification
Investment goals
