Frequently
asked questions



Mutual Funds
WHAT IS A MUTUAL FUND ?
Mutual Fund is an investment vehicle that allows you to invest as per your risk appetite & time horizon.
WHAT ARE THE CATEGORIES OF MUTUAL FUNDS ?
The main categories of Mutual Funds are Equity, Fixed Income, Hybrid & Global. Under each of these categories, there are subcategories too such as Large Cap under Equity.
WHAT IS THE DIFFERENCE BETWEEN SIP AN LUMPSUM INVESTMENT ?
SIP is an investment type through which you can make regular and automated investments into a fund. The frequency of investments ranges from daily to quarterly.
Lumpsum investments are made one time and can be topped up at any point in time.
WHAT ARE GROWTH AND DIVIDEND OPTIONS ?
Under the Growth option, all the returns that a Mutual Fund earns would reflect in its NAV. When an investor redeems, the difference between the Sale NAV & Purchase NAV is her profit. These returns are classified as “capital gains”
Under the Dividend option, occasionally the fund will be paying out dividends to its unitholders based on the profits that it generates. The NAV of the fund will fall to the extent of the dividend pay-out. The investor returns will be in form of dividends and capital gains too if there is a change in the NAV.
WHAT IS AUM ( FUND SIZE ) ?
AUM is the sum total of the market value of all the securities held by a Mutual Fund including cash. AUM growth is a factor of investor inflows into the fund as well as a market appreciation of its underlying securities.
WHAT IS BENCHMARK ?
Benchmark is an index to which the fund will be compared on its performance and decide if the Fund Manager is doing a good job or not.
WHAT IS A LOCK-IN PERIOD? AND FOR WHICH FUND IS LOCK-IN APPLICABLE ?
The Lock-in period is a phenomenon where the investor will not be able to take out the money from the fund for a pre-defined period. Lock-Ins are applicable for Closed-End Funds & Tax Savings Funds.
WHAT IS EXIT LOAD ?
Exit Load is a penalty charged to the investor in the form of a fixed percentage when they redeem the units before a pre-defined period.
WHAT IS AN INVESTMENT OBJECTIVE ?
The investment objective is the mandate that the fund tries to meet at all times. This should be the single most factor that you as an investor must evaluate before investing in a fund.
WHAT IS CATEGORY COMPARISON ?
Category comparison is the process by which we will analyze if a fund is doing well in its respective category. It will check for the best, worst & average performance of the category and also the rank of this fund in the category across multiple periods.
WHAT IS THE LOCK-IN PERIOD FOR ELSS FUNDS ?
Every tax-saving instrument in India carries a lock-in period that is defined by the Central Government. For ELSS Funds, the lock-in period is defined as 3 years from the date of investment.
WHAT IS NAV ?
NAV is the price at which an investor will be buying a fund. The units that an investor gets is calculated by the investment amount divided by the fund NAV.
WHAT IS THE CURRENT NAV ?
Current NAV is the latest price of a mutual fund. It is computed by dividing the market value of all the securities that a fund holds (including cash) by the total number of units in the fund.
WHAT IS THE AVERAGE NAV ?
If you invest in a mutual fund at multiple time periods, the average price at which you have bought a unit is what the average NAV is.
Payment Modes
WHAT ARE THE VARIOUS PAYMENT MODES AVAILABLE ON THE APP ?
There are 2 payment modes available for you to make an investment. Net Banking & UPI
HOW TO PAY VIA UPI ?
When you select the UPI option, it will ask for your UPI ID. You can get your UPI ID from any of the Apps such as Paytm, Phone Pe, Google Pay, etc. Once you enter the UPI ID, you will receive a notification seeking approval to make a payment against the mutual fund transaction.
ARE THERE ANY EXTRA CHARGES FOR UPI ?
No, there are no extra charges for making a payment via UPI.
HOW TO PAY VIA NET BANKING ?
When you select the net banking option, you will be re-directed to your online banking page by our payment gateway with the specified amount. You will need to login in order to make the payment.
HOW TO CREATE A MANDATE ?
The mandate is a process through which the money can be automatically deducted from your bank account. This is required for facilitating SIP transactions.
MANDATE LIMIT ?
It varies from bank to bank. However, you may register a minimum mandate amount of 1 lac up to a maximum of 10 lacs.
HOW LONG DOES IT TAKE TO REGISTER MY MANDATE ?
It usually takes 3 – 4 business days for the mandate to be approved by your bank.
HOW TO CHECK THE STATUS OF MY MANDATE ?
Please visit your Profile – Mandate and you will be able to see the status.
WHAT IF MY MANDATE IS REJECTED? WHAT DO I DO NEXT ?
If the mandate is rejected, then it’s most likely by your bank. With the mandate ID, you may approach your bank for possible reasons.
Alternatively, you may also raise another mandate request from our App.
Investment
WHAT NAV IS APPLICABLE WHEN I BUY MUTUAL FUNDS? ( UPI, NET BANKING, MANDATE) ?
NAV will be applicable for the day that the funds get credited to the AMC account.
INVESTMENT IS DONE, WHEN WILL THE UNITS GET ALLOTTED ?
Units will be allotted for the same day as the AMC receives the credit. However, the confirmation and reports will be available in 3 – 4 business days, in the App.
MINIMUM INVESTMENT AMOUNT FOR SIP AND LUMPSUM
INVESTMENT ?
Although it is dependent on the scheme, you may start off with as low as Rs 100. We have curated funds for you that start with this amount.
CAN I START SIP WITHOUT CREATING A MANDATE ?
No. Mandate registration is necessary to create a SIP.
HOW CAN I PAY FOR A SIP INSTALLMENT THAT I MISSED ?
You can make a payment via UPI or Net Banking if you missed a SIP transaction. However, the units will be allotted for the day that you will be making the payment.
HOW TO INVEST? ( START SIP AND LUMPSUM PAYMENT ) ?
In the App, we have sections where we guide you to find the appropriate Mutual Funds. These are top handpicked funds, a curated list of mutual funds from our research desk, or funds to fulfill your financial goal.

You also have the option to browse through all categories of funds and choose your preference.

After the funds are suggested, it will ask you to choose between SIP or Lumpsum, or both. If it’s a lump sum, you can make the payment via Net Banking or UPI. In the case of SIPs, they will be deducted from your bank account, once you register a mandate in the App.
Withdrawal
HOW CAN I SELL / WITHDRAW MY INVESTMENT ?
Your mutual funds will be visible in the portfolio section. Should you wish to withdraw, you may go into the respective fund and click on the sell option.
I HAVE PLACED A SELL / WITHDRAWAL REQUEST BUT HAVEN’T
RECEIVED THE AMOUNT. WHAT TO DO? HOW MANY DAYS DOES IT
TAKE FOR THE AMOUNT TO GET CREDITED ?
If you place a sell transaction before 1 pm, in case of a Debt Fund, the money will be credited to your bank account the next business day. In the case of Equity Fund, it will be on the 3rd business day.
However, regulations allow AMCs a cooling period of up to 10 business days.
WHAT NAV IS APPLICABLE ON MY SELL / WITHDRAWAL REQUEST ?
If the sell request is placed before 1 pm, the NAV applicable will be on the day that you place the request.
IN WHICH ACCOUNT WILL THE AMOUNT GET CREDITED ?
It will be credited to the bank account provided at the time of the account opening.
WHAT IS THE MINIMUM SELL / WITHDRAWAL AMOUNT LIMIT ?
It depends on the AMC and the Funds. However, generally, it would be Rs 500/-
WHAT ARE THE WITHDRAWAL CHARGES ?
DO I HAVE TO PAY ANY TAX ? ( ALONG WITH DESCRIPTION PLEASE
ATTACH TAXATION ON MUTUAL FUND INVESTMENTS TABLE )
In Mutual Funds, if you withdraw the money within a stipulated time, the fund may charge an exit load. It is not all applicable for all the funds.

The tax liability is in form of capital gains tax. The current tax structure is given below.

Fund type Short-term capital gains Long-term capital gains
Equity fund 15% + cess + surcharge Up to Rs 1 lakh, a year is tax-exempt. Any gains above Rs 1 lakh are taxed at 10% + cess + surcharge
Debt funds Taxed at the investor’s income tax slab rate 20% + cess + surcharge
Hybrid equity-oriented funds 15% + cess + surcharge Up to Rs 1 lakh, a year is tax-exempt. Any gains above Rs 1 lakh are taxed at 10% + cess + surcharge
Hybrid debt-oriented funds Taxed at the investor’s income tax slab rate 20% + cess + surcharge
WHAT IS ABSOLUTE RETURN OR GAIN/ LOSS ?
As the name indicates, it is the absolute amount of gain or loss that you have made in your investments. It is also represented in % terms. It is usually used when the investment period is less than 1 year.
WHAT IS CAGR ?
CAGR is the compounded return that you have made from your investments. This is used when the investment period becomes more than 1 year.
WHAT IS XIRR ?
XIRR takes into consideration the time value of money and is used when there are multiple investments and withdrawals into the same fund over different periods.
HOW DO WEALTHCHUNK INVESTMENTS CALCULATE MUTUAL FUND RETURNS ?
We use Absolute Returns & XIRR to compute the returns.
Risk Profile
WHAT IS RISK PROFILING ?
Risk Profiling is a scientific way of assessing your attitude towards risk from the context of your investments.
HOW IS MY RISK ASSESSMENT DONE? ( ALONG WITH STEPS )
We use a questionnaire method to assess your risk profile. Based on the options given by you, our algorithm will calculate the score and identify your risk profile.
HOW WILL RISK PROFILING HELP ME ?
It will help you choose the appropriate funds and portfolio.
CAN I RETAKE THE RISK ASSESSMENT ?
Yes, you may re-take the risk assessment at any point in time.
Reports
WHAT STATEMENTS CAN I REQUEST ? ( TYPES OF STATEMENTS )
We have the Tax Reports, Capital Gains Reports & Scheme Performance Reports. These are available under the reports section in the profile tab.
HOW TO GENERATE A STATEMENT ?
You may choose to receive an email or download the report from the section mentioned above.
Portfolio
DESCRIPTION OF PORTFOLIO SECTION ? ( LIST OF PORTFOLIO USERS CAN SEE ON APP )
This section will help you know how your investments are performing. You will be able to know the current value of your investments, gains made, percentage-wise returns, etc.
FUND PORTFOLIO ? (FILTERS)
You have the option to view the portfolio as per Asset Allocation, Fund Category, Risk Profile & AMC wise.
Wealthchunk Investment App
HOW ARE FUNDS RECOMMENDED ? (METHODOLOGY)
Our research desk undertakes a rigorous filtering process in terms of returns, risk, and other qualitative factors such as AUM, Fund Manager, and Portfolio Quality to arrive at the final recommended list.
FEATURES ON APP ?
There are broadly 2 categories of investors. Do it yourself & Guided. The App caters to both categories.

For DIY, we have put together a lot of data that will get you the right funds to invest.

For Guided, we have a set of curated funds that we recommend towards your life goals.

The users can add any fund to the watch list for tracking, make use of multiple calculators, and also track their investments via the app.
TOP HANDPICKED FUNDS ? ( TOP 7 FUNDS FROM ALL THE MUTUAL
FUND COMPANIES ARE RECOMMENDED )
As explained above, we use a rigorous filtering process to arrive at the funds that fit into multiple investment themes. Some of these themes are Tax Savings, Funds for Retirement, Investment starting with 100, etc. For all these themes, we bring you the best 7 funds to fulfill them.
MUTUAL FUNDS FOR GOAL ? (LIST OF GOALS)
We use a portfolio approach (right funds with the right weightage) to fulfill your financial goals. When the time period of your goal is long, better are the chances of getting high returns from the portfolio. We strongly recommend you plan your financial goals with Wealthchunk.
HOW TO INVEST IN GOAL ? ( STEPS )
It’s very simple & straightforward. You tell us the value of the goal that you would want to achieve and by what period. We will suggest you the portfolio (mix of funds) and with just a couple of clicks, your investments can be done.
DO IT YOURSELF ?
If you don’t have a particular goal in mind and are comfortable picking the funds by yourself, then this section can be of great value. We have powerful screening tools that will sift through numerous parameters to get you to the best.
WEALTHCHUNK SMART SAVING OPTION ?
This is a facility that we offer in collaboration with Nippon India MF. The idle money that you have in the bank can be invested in Nippon Liquid Fund that will get you higher returns than your savings account and at the same time avail a debit card via which you may withdraw the money anytime.
FEATURES OF DEBIT CARD ?
Please click on this link to know more

Debit Card
WHAT IS INSTANT REDEMPTION ?
Through this feature, you will get either 90% of your investment value or 50,000 whichever is lower on an instant basis, whenever you would like to withdraw. The normal time for crediting your account is 1 working after you place the request. You may see these funds in the Instant Redemption section under the Top Hand-Picked Funds category.
WHAT ARE SAVED GOALS ?
When you plan for a goal, we will save it in your profile with the recommended portfolio. At any point in time, you can re-visit the goal and make investments if you have not done it already.
MY TRANSACTION WHAT USER CAN SEE ?
All your transactions such as purchase, redemption, SIPs will be visible under the My Transactions section. You may also see the transaction status against each one of those.
LIST OF PARTNERS ? ( MUTUAL FUND COMPANIES )
Currently, we have partnered with 13 Mutual Fund companies. You may see the list in the partners’ section.
HOW TO ADD FUNDS TO THE WATCHLIST ?
Click on the star icon on your fund page. The fund will be added to the watch list.
WHAT IS KYC ?
KYC is a process through which the regulator enforces that anyone who invests in Mutual Funds has succumbed to the laws related to capital markets and anti-money laundering. Multiple documents and details will be sought while undertaking the KYC process.
WHY DO I NEED TO DO MY KYC ?
KYC is mandatory from a regulatory perspective for anyone to invest in Mutual Funds.
I AM ALREADY INVESTING IN MUTUAL FUNDS. DO I NEED TO DO KYC VERIFICATION AGAIN ?
If you are already MF KYC compliant, then you do not need to perform KYC. However, to open the investment account, you would still need to provide us with some details.
STEPS TO COMPLETE KYC FOR KYC VERIFIED USERS AND KYC NOT VERIFIED USERS ?
If you are non-KYC compliant, you will be required to undergo a Video KYC process to be eligible for making investments. There are some documents that are required too.

If you are already KYC compliant, then the process is much lighter. You will need to provide some basic data along with your bank details. We will require the cheque & signature image too.
WHAT DOCUMENTS ARE REQUIRED FOR KYC ?
We will require the PAN Card Copy, Address Proof, Cancelled Cheque Image & Signature Image, and a Photograph.
HOW TO CHECK IF MY PAN IS KYC VERIFIED OR NOT ?
In the App, we have a provision to check if you are KYC verified. We will be assisting you with the account opening process based on this status.
HOW CAN I SUBMIT MY KYC ? ( IT TAKES LESS THAN 2 MINUTES )
There is a digital journey to undertake your KYC process. While accepting the documents listed above, we will also be asking for details as mandated by regulation. The entire process has been made paperless and takes less than 5 minutes.
HOW LONG DOES IT TAKE TO GET KYC VERIFIED ?
Normally it takes 2 -3 business days for the certified authority to approve the KYC.
IS MY KYC DATA SAFE? IS IT SHARED WITH ANYONE ?
Your KYC data will be shared only with KRAs – the authority to approve the KYC.
HOW TO CHECK KYC STATUS AFTER SUBMITTING ?
We will be checking it on your behalf and notifying you of the same.
I DO NOT HAVE A PAN CARD ? CAN I INVEST
No. PAN is a prerequisite for investing in Mutual Funds.
MY MOBILE NUMBER IS NOT LINKED WITH AADHAR, WHAT
SHOULD I DO ?
While this is not a prerequisite, if you are not KYC compliant, then there is an Aadhar based OTP that will be sent to your email & mobile. Hence, one of those needs to be linked.
I WANT TO UPDATE MY PERSONAL AND COMMUNICATION DETAILS? HOW DO I DO THAT ?
You do have the provision under the profile section.
HOW DO I CHANGE MY PASSWORD ?
You can change it in the settings tab in the profile section.
WHAT HAPPENS TO MY MONEY IF YOU CLOSE DOWN ?
Your money is invested with the Mutual Fund Houses, regulated by SEBI. Wealth Chunk is a digital distributor of these funds. We do not own your money and hence no repercussion even if we have to shut down.
HOW WILL YOU VERIFY MY BANK ACCOUNT ?
You are requested to provide a canceled cheque image, which will be matched with the bank details provided.
HOW MANY BANK ACCOUNTS CAN I ADD ? ( MAXIMUM 5 BANK ACCOUNT BUT WE WILL LAUNCH THIS FEATURE AT A LATER STAGE )
You may add up to 5 banks. But this facility is not available in the current version.
CAN I REMOVE MY BANK ACCOUNT ?
You cannot remove a bank account. But in case if you cease to use an account, you can make it non-primary so that you will no longer receive the redemption proceeds in this account.
WHAT IS A DEFAULT BANK ACCOUNT ?
A default bank account is an account to which the redemption proceeds will be credited.
WHAT IS INVESTMENT READINESS AND WHY IS IT REQUIRED ?
Investment readiness is the stage when your details are registered with BSE and are allotted a unique code. This is required for you to transact in mutual funds.
WHAT IS FATCA ?
FATCA is a tax regulation and is sought for any investor wanting to invest in capital markets.
WHAT DOES NOMINEE REGISTRATION MEAN ?
Nominee registration is the process by which you are assigning your heirs to have a claim on your investments, in the background of an unfortunate event.
HOW MANY NOMINEES CAN I ADD ?
You can add up to 3 nominees.
IS NOMINEE ADDING MANDATORY ? CAN I ADD AT A LATER STAGE ?
It’s not mandatory but recommended to have. You can add it at a later stage too.
CAN NRI INVEST IN THE WEALTHCHUNK INVESTMENT APP ?
In the current version, it’s not enabled.
ADD / DELETE / MODIFY GOALS ? ( UNDER SAVED GOALS )
When you add a goal, it gets saved in the profile section. At any point in time, you may choose to edit or delete these goals.
FORGOT MY PASSWORD HOW DO I RESET IT ?
You may provide your registered email id and we will send you a link for the password reset.
I AM NEW TO MUTUAL FUND INVESTMENTS, HOW TO INVEST
THROUGH THE WEALTHCHUNK INVESTMENTS APP ?
If you are new to Mutual Funds, then we strongly suggest you to check out our Goals & Handpicked Funds section. The curated funds from our research desk will ensure that your investment journey is always a pleasant one.
WHAT IS INVEST MORE ?
You can add additional and more money to your existing mutual funds.