Home / Transaction over SMS / Frequently Asked Questions (FAQs)
  Frequently Asked Questions (FAQs)

Who can avail this facility?

This Facility will be currently available for existing KYC compliant Individual investors of IDBI Mutual Fund with “Single” or “Any one or Survivor” holding. In case of the latter, the facility is available to only the first holder who must also be one of the holders in the bank account which is to be mandated. All SMS based transactions are processed in direct plan only. The maximum transaction amount for Purchase / Redemption /Switch is restricted to Rs.1,00, 00,000 (One Crore) per investor per day. This Facility is available with a condition that one mobile number can be registered with one folio and/or one folio can be registered with one mobile number only

How can the existing investor register for “Transaction over SMS” facility?

For registration, investors have to submit the duly signed registration form along with a cancelled cheque to any of our nearest Branch/Point of Acceptance. The registration process will take 30 days from the date of submission of form. Investors will receive a confirmation through SMS / Email on completion of the registration process post which they can transact immediately.

How can the investor transact by SMS?

FOR PURCHASE: Send an SMS as per the below format to 92200-92200 IDBIMF PUR < Folio No > < Amount > Example: IDBIMF PUR 3041658062 IEDPD 5000 Note: single space delimiter to be maintained between each character (The specified amount will get debited from the investor’s bank account and invested into the specified scheme and it usually takes 3-4 working days from the date of sending the SMS)

REDEMPTION Send an SMS as per the below format to 92200-92200 IDBIMF RED < Folio No > < Amount / ALL> Example: IDBIMF RED 3041658062 IEDPD 5000


Note: single space delimiter to be maintained between each character (The specified amount will automatically get redeemed from the specified folio / scheme and the redemption amount will be credited to the bank account registered/ through warrant, if opted in the folio)

What response will investor get after SMS is delivered on the designated number?

A receipt confirmation SMS will be sent to the investor.

What is Scheme Short Code?

Scheme Short Code is a keyword given to each scheme with plan and option; List of Scheme codes are available in our website. To view the list of schemes and codes click here.

What would be the applicable NAV?

Applicable NAV for the transaction will be based on the time of receipt of the SMS into the Registrar and Transfer Agent server and other factors like scheme, type of transaction, amount, date and time of realization of funds as per SEBI MF regulations and amount received in IDBI Mutual Funds’ designated account and will be treated on par with similar transactions received through other modes of payment.

Within how many days the purchase amount will be debited from investor’s bank account?

The bank account of the investor may be debited towards purchase within a period one to seven business days depending upon the clearing cycle for the location concerned. In case of non-receipt of the funds (for any reason), the transaction shall be cancelled and the units allotted, if any, would be reversed.

Can investor have one mobile number registered for more than one folio number?

This facility is available with a condition of 'One Mobile Number and One Folio Combination'. Only one mobile number can be registered with one folio. Investors cannot register the same mobile number in more than one folio to avail SMS facility. However, it is clarified that other folios may have the same mobile number for receiving normal transaction alerts

Can an investor send the SMS from any number?

No, the SMS has to be sent only from the registered mobile number. If the SMS received from any other mobile number, the SMS would be rejected

What will happen if an investor sends an incorrect SMS?

Any deviation from the existing SMS format would not be accepted and the SMS will get rejected. Investor/s must send the correct keyword, scheme code and folio numbers for the transaction to get completed.

Whether SMS will be accepted during non business days?

Yes; however transaction will be processed as per applicable NAV.

What will be the applicability of charges for sending transactional SMS?

IDBI Mutual Fund does not charge anything for providing this service and it is absolutely free of cost. However, the outgoing SMS will be charged by service provider of the investor as per the tariff / plan chosen by investor.

List of Banks for “Transaction over SMS” facility. Currently, this facility is available for NACH participating banks only. click here check list of banks.

For more details, refer to guidelines given on the reverse of the Mandate Registration (NACH) form.