Insta SIP

• INSTASIP is a feature/facility provided for customers of Kotak Mahindra Bank Ltd, An AMFI-registered Mutual Fund Distributor, ARN-1390, (Bank) to invest in a basket of mutual fund schemes recommended by the Bank through SIP mode. The customer understands and agrees that Mutual Fund investments are subject to market risks, and the customer agrees to invest in Mutual Fund schemes through SIP mode using the INSTASIP facility at his/her/their own risks and the Bank is not liable for any loss, damage of any nature, incurred by him/her/them from their investments.
  
  
• The customer hereby authorizes the Bank to subscribe/purchase and/or redeem units of mutual funds on his/her/their behalf and to pay for the units so purchased, on customer’s specific intructions.
  
  
• The customer understands and agrees that the mutual fund scheme recommendations are based on the Bank’s in-house evaluation of mutual fund schemes and that the Bank has right to change the recommendations at its discretion at any point in time. The customer also agrees that it will not hold the Bank liable for any such change in recommendations.  
  
  
• The customer agrees that he/she/they are not under any obligation to use INSTASIP facility and he/she/they are using this facility with their free will and the convenience they accrue compared with the conventional method of investing in SIPs of mutual fund schemes
  
  
• The customer hereby confirms that he/she/they have undertaken proper risk assessment and are investing in mutual fund schemes with complete knowledge of their risk tolerance limits. The customer also agrees that the Bank has given them adequate information on the product suitability before investment. The customer also agrees that the Bank has triggered alert in case of non-suitability of the product and only upon receiving customer’s consent/confirmations has the Bank processed the purchase/subscription transaction.
  
  
• The customer hereby confirms that he/she/they shall independently evaluate the services and capabilities of the intermediaries and he/she/they shall enter into same at his/her/their sole discretion, judgement and opinion.
  
  
• The customer agrees that only he/she/they shall be responsible for all the investment decisions executed through this facility and he/she/they will not hold the Bank liable for any loss, claim or damage of whatsoever nature, if any instruction(s) of the customer is not carried out by the Bank for any reason whatsoever.
  
  
• The Bank may in its own discretion decide not to carry out the Customer's instructions where the Bank has reason to believe (which decision of the Bank the Customer shall not question or dispute) that the instructions are not genuine or are otherwise improper or unclear or are in a manner that raise a doubt.
  
  
• The Customer agrees and understands that the Bank is required to receive clear written instructions from the Customer to enable the Bank to effect fund transfer activities on behalf of the Customer.
  
  
• The Customer hereby indemnifies and shall keep indemnified the Bank against any loss, claim or damages of whatsoever nature which Bank may suffer on account of any improper / fraudulent fund transfer instruction purported to be received from the Customer.
  
  
• The customer confirms that he has read all the relevant documents/brochures/printed materials/fund factsheets/SID/KIM etc. either available on the Bank’s website or the Asset Management Company’s website or physically or at any reliable sources before making the transactions using the INSTASIP facility. The customer also agrees that it will not held the Bank liable for lack of information.
  
  
• All decisions in relation to Investments are based on the customer’s own evaluation of his/her/their financial circumstances and investment objectives. Any decision, action or omission to buy, sell or hold Investments shall be based solely on customer’s own verification and a proper evaluation of all the relevant facts, financials and other circumstances and neither the Bank nor any of it’s employees, officers, directors, personnel, agents or representatives shall be responsible or held liable for the same for any reason whatsoever
  
  
• Schemes mentioned under INSTASIP pack may change depending upon internal review and recommendation process at regular interval or as and when required or at the discretion of the Bank subject to proper reasons as may be updated with its internal committees. Such actions may typically occur due to some structural change in such mutual fund company which as per the Bank’s evaluation or judgement may not act in the best interest of the customer.
  
  
• The Bank may discontinue INSTASIP feature in case there is upgradation or changes suggested by regulator or services offered by the bank in future.
  
  
• SIP tenure by default is 60 months/ 5years which is kept with regards to ease of execution of sip transaction. The customer may change the tenure best suited to him/her/them.
  
  
• Save and except under conditions beyond the reasonable control of the Bank, all requests received by Bank prior to the cut off time shall be processed on best effort basis on the same day & all requests received after cut off time shall be processed on next business day. Such 'cut off-time' shall be communicated by the Bank to the customer on website from time to time.
  
  
• All instructions including instructions for modification shall be given only by the Customer named in bank's records and shall be binding on the Customer personally.
  
  
• The Bank reserves the right to amend, modify or vary any of the terms stated herein at any time in its sole and absolute discretion and any such amendment, modification or variation shall take into effect and bind you from such date as may be prescribed by the bank