iSave-IPruMF FAQs
1. What is iSave-IPruMF?
a. ISave-IPruMF is a mobile app from ICICI Prudential Mutual Fund, to help you
in managing your savings more efficiently by investing your money in ICICI
Prudential Savings Fund with an option to withdraw your money instantly.
Investor can withdraw upto 2 lacs or 90% from his redeemable balance
whichever is less.
2. Benefits of iSave-IPruMF?
a. 5 Major benefits of iSave-IPruMF:
i. Easy folio creation for KYC verified customers through New Investor
journey
ii. Make fresh and additional purchases in ICICI Prudential Savings Fund -
Growth
iii. Avail quick withdrawal of 2 lacs or 90% of your redeemable balance
whichever is lower
iv. Normal withdrawal facility is also available to withdraw amount greater
than 2 lacs
v. Potential Returns of ICICI Prudential Savings Fund
vi. Additional Medical Advantage Feature (MAF) for new Folio creations of
ICICI Prudential Savings Fund available at a click of a button
3. What is Medical Advantage Feature (MAF)?
a. Medical Advantage Feature (MAF) is the facility offered by ICICI Prudential
Mutual Fund in association with Vidal Healthcare Services Pvt. Ltd.(Vidal
Health). Through this facility investors can seamlessly use their investments in
ICICI Prudential Savings Fund - Growth to pay for hospitalization costs across
India. This facility is available irrespective of health insurance status. The
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investor can avail this facility through any of Vidal Healths pan-India network
of over 6,000 hospitals and 1,500 diagnostic centers.
b. For information on Vidal Health and its empanelled network, please visit
[Link]/iprumf. The list of eligible designated schemes is
available here. The investor(s) on successful enrolment in this feature will
display the Medical Advantage Card at the empanelled network hospitals and
fill the Medical Redemption Form.
4. Benefits of Medical Advantage Feature (MAF)
a. Get up to 25% discount on hospitalization
b. Easy access to your investments to meet hospitalization expenses at any time
c. Be prepared for emergency health - related expenses
d. Avoid redemption hassles during emergency situations
*Terms and Conditions Apply
5. What types of facilities are allowed in iSave-IPruMF?
a. iSave-IPruMF app allows the following facilities once an investor logs in from
iSave-IPruMF:
i. Purchase units of ICICI Prudential Savings Fund
ii. Quick withdrawal upto 2 lac or 90% of the redeemable balance
whichever is lower.
iii. Withdraw from your active ICICI Prudential Savings Fund
iv. View your transaction history through Passbook section (Last 10
transactions viewed by default or select a date range to view transaction
history)
6. iSave-IPruMF is available to -
a. Resident Indian Individuals or Minor can opt for iSave-IPruMF
7. Can a new investor who is not KYC compliant register for iSave-IPruMF?
iSave-IPruMF FAQs
a. Non KYC compliant investor cannot register for iSave-IPruMF.
8. What is the minimum amount for a new investor to register with iSave-IPruMF?
a. Minimum amount required to invest through iSave-IPruMF is Rs. 5000
9. Payment options available for iSave-IPruMF -
a. An investor can choose from the below payment options:
i. Internet Banking
ii. Debit Card (Master and Visa both)
iii. One Time Mandate (this facility is available only if the investor has
registered One time bank mandate in his folio)
10. Can the investor register for iSave-IPruMF in multiple folios?
a. Yes
11. Can the investor change the Broker Code if already registered?
a. Yes. After investor logs in to iSave-IPruMF, he has to go to Edit your Plan
section and modify the broker details for future transactions.
12. Can a new investor who is KYC compliant register for iSave-IPruMF? If yes then
how?
a. Yes, with just 4 simple steps:
i. Enter Personal Details (Name, Mobile, Email & City)
ii. Enter Nominee details
iii. Enter Bank details
iv. Confirm details and Pay through Net banking, Debit Card
13. What types of transactions are allowed in iSave-IPruMF?
a. The investors can only Invest or Withdraw using iSave-IPruMF App.
14. Can an investor already having investments in existing ICICI Prudential AMC
schemes start investing through iSave-IPruMF?
iSave-IPruMF FAQs
a. Investor can do a purchase transaction in ICICI Prudential Savings Fund -
Growth in his existing folio through iSave-IPruMF, but he cannot modify the
scheme.
b. If an investor already has investments in ICICI Prudential Savings Fund -
Growth then he can use iSave-IPruMF for Additional investment and quick
withdrawal.
15. Process of Quick Withdrawal
a. For any transaction received in quick withdrawal mode, ICICI Prudential
Mutual Fund will block 110% of the redemption value requested based on the
latest NAV available and the same will be released only after the transaction
processing is completed as per applicable NAV. In the interim, no transaction
processing will be allowed on the blocked units.
b. ICICI Prudential Mutual Fund will not be responsible for any failures/delay in
the crediting the investor account by the banker.
16. What is minimum and maximum redemption amount for Quick Withdrawal?
a. Minimum redemption amount shall be 500 and in multiples of 1
b. Maximum redemption amount in a single redemption or through multiple
redemptions in a day will be ` 200,000 or 90% (margin) of the Redeemable
balance, whichever is less.
17. How is the Redeemable balance derived?
a. Redeemable balance shall be:
i. 90% of the Redeemable Balance of investments for folios.
ii. Redeemable balance are such units in the folio for which the investor
can place a redemption request at any point of time after considering
units which are un-cleared for funds realization or reconciliation, or are
under lien, or are in dematerialized mode and after considering any
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transactions pending for unit adjustments. Such Redeemable Balance
will be reduced by the amounts redeemed through this mode or any
other mode which allows instant payout and transactions are pending
for processing.
iii. The decision of the AMC in determining the Redeemable Balance shall
be final.
iv. The AMC reserves the right to modify the margin limit stated above, at
any time at its discretion without giving any prior notice.
18. How will payout happen in-case of Failure of IMPS?
a. In-case of a failure confirmation from the banker, ICICI Prudential Mutual Fund
reserves the right to initiate the payout post transaction processing as per the
payout mode registered in the folio on respective payout date for the
transaction as if received in other then instant payout mode
19. What will be the applicable NAV for the redemption incase quick withdrawal is
done?
a. SEBI guidelines on uniform cut off timings for redemption shall be applicable
to transactions through the aforesaid facility.
20. How does the View Passbook in iSave-IPruMF work?
a. The View Passbook option displays upto 10 transactions in the given scheme
along with the type whether it was a Invest/Withdraw
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b. A detailed statement will allow you to select the date range and mail it to
investors registered email ID.
21. What is OTM (One Time Mandate) and what are its benefits?
a. OTM facility is one time mandate registration process that will enable you to
transact seamlessly in a simple, convenient and paperless manner. Using the
OTM facility, you can instruct your bank to allow a debit of a certain amount,
with a fixed daily upper limit in your account, whenever you wish to transact.
b. If an investor already has an OTM registered for a particular folio then the
same OTM facility can be used while making a transaction in that folio
through iSave-IPruMF.
22. Can I share the app with my friends?
a. Yes you can share the app with your friends.
b. If you wish to refer your financial advisors for the future transactions you can
do so by mentioning your financial advisor's ARN code at the time of sharing
the app.
23. What will happen if the app is downloaded by a shared link?
a. If the app is downloaded from the shared link with financial advisor's code
(ARN) mentioned all the future transactions made through the app will be
under the code of the respective financial advisor.
Mutual Fund investments are subject to market risks, read all scheme related
documents carefully
