BanayanTree Services Limited (hereinafter referred to as "BanayanTree") is a company incorporated under the Companies Act, 2013, CIN: U67190DL2016PLC300962 having registered office at Express Building, 9-10, Bahadurshah Zafar Marg, New Delhi -110 002, India and corporate office at #Plot No. 391, Udyog Vihar, Phase III, Gurgaon -122 016, Haryana, India.
BanayanTree is registered with SEBI as Investment Adviser with registration number INA100006898 and is also registered with the Association of Mutual Funds in India with ARN 112749. BanayanTree offers services like facilitating direct investments (i.e., investments not routed through a distributor) in mutual funds by collecting order, on your behalf, and places them for execution with the AMCs, tracking of transactions and other related services on ETMONEY.
In addition to the Terms of Use and Privacy Policy for using "ETMONEY", the following would be the additional terms and conditions which will be applicable for transactions in mutual funds, which the User has to agree before using our services:
Definitions
- "AMC" means asset management company that invests its clients' pooled funds into securities through mutual funds.
- "Cut off time" means the time determined by Banayantree, within which if any MF transaction order is received will be taken up for processing on that day. This time may be different from the AMC cut off time and will also be different between various schemes.
- "Direct Plan" means investing in mutual fund schemes directly, without the involvement of an agent/broker/distributor.
- "Distributor" means those who are registered with AMFI as a ARN holder and who can distribute mutual funds.
- "ETMONEY" means website www.etmoney.com and the Mobile Application ETMONEY.
- "Easy Pay" is the mandate given by the User to BanayanTree for giving payment instructions to their respective banks, on User's behalf.
- "Investment Account" means the account opened for investments in mutual funds and other financial products.
- "Investment Advisor" means those advisors who are registered with SEBI as Investment Advisor and authorised to provide advise.
- "KYC" means Know Your client.
- "RTA" means Registrar and transfer Agent.
- "Regular Plans" means investing in mutual fund schemes through an agent/broker/distributor.
- "SEBI" means Securities and Exchange Board of India.
Terms and Conditions
KYC
Before availing any products/services, the User has to complete all prescribed KYC requirements with the KYC Registration Agency as per the SEBI Know Your Client ("KYC") guidelines and/or as per the directives issued by AMCs, RTAs, or any other regulatory / government agencies or authorities from time to time.
Investment Account
Prior to processing any order or Banayantree providing any of its service, the Customer must open the Investment account (which can be used for buying any product on ETMONEY) by completing the KYC formalities and upon successful verification by Banayantree.
In case the customer places any transaction order and/or transfer funds (towards settling of the transaction) along with the Investment account opening, then the User should complete the account opening process within 3 working days Also, in case Banayantree seeks any additional document/information, towards Investment account opening, the User should submit the same within 2 Working days. In case the customer does not open the Investment account or in case the customer does not provide the additional information sought for by Banayantree, within the time frame specified above, then Banayantree shall cancel the order placed and the Banayantree shall initiate the refund back to the customer.
Transactions
The User agrees and understands that BanayanTree shall provide only those mutual fund schemes identified by it, from time to time, at its sole discretion.
User is aware that he/she is under no obligation to avail the MF execution services offered by BanayanTree (through the ETMONEY). If the transactions are executed through ETMONEY, the User has done the same on his / her own will.
User understands that Banayantree lists direct plans of select schemes (of various mutual funds) on the ETMONEY. BanayanTree does not charge any fee from the USER, as on date. However, BanayanTree reserves the right to charge its users appropriate fee, in future, at its sole discretion.
User agrees and acknowledges that all transactions done through ETMONEY, in direct plans, will be tagged with the Registered Investment Adviser Code of BanayanTree Services Limited i.e. INA100006898.
User agrees that all the transactions are executed on an "Execution Only" basis. However, if the User requires, Banayantree may explain the product features to the User and also guide how to transact on ETMONEY.
User agrees that if any transaction is entered on Non-Business Days or after cut-off time, the said request will be processed, and NAV will be allotted in accordance with SEBI guidelines and respective scheme's terms and conditions. In order to determine the transaction time, the server time, at the instance of confirmation of the transaction, will be considered as the final time.
User acknowledges and understands that with effect from 1st February 2021, purchase of units of mutual fund schemes will be processed basis fund realization by the mutual fund company. User acknowledges and understands that BanayanTree's Cut-off time, for the transaction to be considered for eligibility for the same day NAV, might be different from the AMCs' cut off time.As on date, the cut off time is as follows:
| Particulars | Category | Cut-off Timing |
|---|---|---|
| Subscription | All Schemes | Subject to fund realization in AMC account |
| Redemption & Switch | All Schemes | 2:00 PM |
User understands that units will be allotted by AMC only upon successful receipt of money in the respective AMCs' bank account and/or completion of KYC and/or receipt of any additional information from the User as required by AMC/RTA.
User understands that in case he/she provides any false/wrong/misleading information and/or in case he/she makes payment from a bank account where the User is not a holder (third party payment), then BanayanTree shall reject any orders placed by the User and/or may freeze such User's account for any further activity. Additionally, the AMCs/RTA may reject any application and/or cancel the units allotted, if any and/or freeze the existing units.
User understand that Banayantree provides services of non-financial transactions (like Bank Details change, Nomination, contact details change, etc.) and support on any past transactions on a best effort basis.
User understands that BanayanTree has entered into agreement with various AMCs' for providing the various mutual fund schemes on the ETMONEY. In the event of termination of agreement with the AMCs' or in case of any other event, BanayanTree shall not be able to support any further transactions and/or services of any units (existing or new) in such MF schemes. In such cases, User should contact the AMC directly.
User understands and agree that transaction once completed cannot be cancelled.
FATCA & CRS Terms and Conditions
- Details under FATCA& CRS: The Central Board of Direct Taxes has notified Rules 114F to 114H, as part of the Income- tax Rules, 1962, which require Indian financial institutions such as the Banks/other financial entities to seek additional personal, tax and beneficial owner information and certain certifications and documentation from all our account holders. In relevant cases, information will have to be reported to tax authorities / appointed agencies. Towards compliance, we may also be required to provide information to any institutions such as withholding agents for the purpose of ensuring appropriate withholding from the account or any proceeds in relation thereto.
- The User may receive more than one request to provide information if you have multiple relationships with BanayanTree Services Limited or its group entities. Therefore, it is important that the User respond to our request, even if User believe that User have already supplied any previously requested information.
- It is mandatory to supply a TIN or functional equivalent if the country in which you are tax resident issues such identifiers.
- If you have any questions about your tax residency, please contact your tax advisor.
Risk Factors
The User should read and understand the following risk facts before deciding to execute any mutual fund transactions:
- Mutual Fund investments are subject to market risks. Should read all scheme related documents carefully.
- The NAV of the schemes may fluctuate depending upon various factors like economy, interest rates, stock market performance etc.
- Past performance is not an indicator of similar future returns.
- There can be no guarantee that a scheme's investment objectives will be achieved.
- All dividend distributions are subject to the investment performance of the schemes.
- The investments made by the schemes are subject to external risks.
- The User should consider various factors like the performance track record of the scheme, scheme objectives, risk factors etc. before making investment in any scheme.
SIM/KID
The Scheme Information Document, Key Information Memorandum and other documents are available on the below links
The User understands that the above link/website, might get changed, by the AMC, at any point of time at their sole discretion. IN such case Banayantree will, to the best of its ability, try and update the new link/address. However, Banayantree does not guarantee that the above link/address will be update at all times
Payments
User understands that while making investment through ETMONEY, investment amount directly goes to AMCs' account and at no time, BanayanTree receives the investment amount in its account.
User understand that BanayanTree has tied up with Payment Gateway for processing the payments. Hence, whenever the money transferred through payment gateway, the funds may be available to AMC after a time lag from the time it is debited from your bank account.
User understands that in the event of any failures in the payments link or in case of any delay in the payment instructions being processed by the Payment Gateway or the Bank or in case of any fraudulent transactions in the User Bank account, BanayanTree shall not be held responsible for the same. BanayanTree merely provides the access to the Payment Gateway and shall not be liable for claims/damages of any nature.
User understands that in case of successful transfer of money but failure of investment transaction, refund will be initiated by AMC within (7) seven business days and by Banayantree within (2) two business days, as the case may be. Actual credit of money in the User's Bank account will depend upon the User's respective bank/payment gateway.
Tools/Listings
ETMONEY is providing set of tools for users to identify Mutual Fund schemes based on his/her objectives like time horizon, risk appetite etc. BanayanTree do not provide any assurance or guarantee that the objectives would be achieved. User should not assume that their objectives will be achieved using the tool.
User understands that any listing/recommendation of funds/schemes, because of (a) User search or (b) User input in the tool for investment ideas or (c) browsing pre-packaged categories is based on (i)information obtained from various sources, which we believe to be true and correct and/or (ii) our own analysis, on a best effort basis. The objective is to guide the User to navigate various funds/schemes, provided on our app, so as to enable him/her to make an informed decision. The same is for information purpose only and should not be construed as an Investment Advice. They do not represent the opinions of BanayanTree/ETMONEY on whether to buy, sell or hold mutual fund schemes. It is solely up to the User to decide whether to execute a particular transaction or not, on the basis of such listings. The order of appearance in the listing of Scheme names is not indicative of performance or recommendation. It is solely up to the user to decide to select or reject any scheme.
The estimation on return, given at any place in the app, is a mere estimate and indicative based on the past performance. The same should not be considered as a promise, guarantee or indication of future returns. Future returns may also be negative.
Any tax rebate figures indicated on the app is based on the assumption that the User is in the highest tax slab (i.e. 30%). The same is based on the current tax rates. Tax rates are subject to change.
General
User understands that the information and the contents on the ETMONEY, like mutual fund details, etc, are based on information, obtained from third parties, which is believed to be true and correct to the best of knowledge. BanayanTree does not provide any representation or warranty/guarantee of any kind, either express or implied, including without limitation, any representation or warranty for accuracy, continuity, uninterrupted access, timeliness, sequence, quality, performance, fitness for any purpose or completeness or are based on information available Banayantree and/or its Group Companies and its directors, employees shall not be held liable for any loss or damage caused, directly or indirectly, from User relying on such information.
User understands that any links provided on the ETMONEY is on as is basis. BanayanTree does not take any responsibility nor guarantee about the performance or content of that link/website.
User understands and agrees that Banayantree may share/collect my Personal and Transactional information with/from its Group Companies, Vendors, Business Partners and other third parties, in order to (a) provide the services mentioned herein and/or (b) to ensure smooth execution of User's Request and/or (c) to customize offers/products/services and to provide seamless experience and/or (d) for cross selling.
User understand and agrees that Banayantree and/or its group companies or their authorised agents can contact me for verifying my details, offering support and information on suitable products, assisting in closing a sale or sharing related information, promotional messages, renewal reminders, claim assistance etc.