Can an Indian resident be my nominee?
Yes, an Indian resident can be your nominee.
Can I invest from a foreign bank account?
No, since Indian mutual fund houses are only allowed to take investments in Indian currency, NRIs can only invest either from NRE or NRO accounts with Indian Banks.
When will the TDS certificate be issued to me?
TDS Certificates (Form 16A) will be dispatched to the investors once every quarter by the respective AMCs
How is an NRE account different from an NRO account?
NRE account is used to park the foreign earnings of an NRI. They are exempt from tax and both the principal amount and interest can be repatriated.
NRO account is used to manage the earnings of an NRI originating in India. It is taxable and has limited repatriability, the interest amount can be repatriated entirely but the principle amount is subject to repatriation upto USD 1 million net of applicable taxes in a financial year.
Can I appoint a Power of Attorney on my behalf?
No, this provision is not allowed to NRIs as of now.
How do I start investing?
You can start investing as soon as you complete your online registration and upload the required KYC documents. You can then invest via net-banking.
Do I need a Demat account to invest with Asset Multiplier?
No, you don’t as Mutual Fund investments do not need a Demat account.
Can I withdraw my money anytime?
Yes, you can do that whenever you want except in the Tax Save goal. In the Tax Save goal, your investments are made in a special category of funds called Tax Saver Mutual Funds (ELSS) for availing 80C benefits and they have a government mandated lock-in of 3 years.
Can I stop my SIP in between? Is there any penalty for that?
Yes, you can stop your SIPs anytime you want and there are no penalties for that. But we would always advise you to continue your SIPs to reach your goals on time.
How safe is Asset Multiplier? What happens if Asset Multiplier shuts down?
All your investments are made in your name and go directly from your account to the Mutual Fund companies. On redemption the money will also come directly to your registered bank account. You will get confirmation of each transaction from the Mutual Funds themselves on your registered email and phone number.