When are the mutual funds units allotted to me?
The date of allotment of mutual fund units depends on the payment method selected by you to make the investment.
Investment via UPI:
- If you have transferred money using the UPI payment method before 12:30 PM on a working day, then the mutual fund units will be allotted to you on the same day itself.
- If you have transferred the money after 12:30 PM, then the mutual fund units will be allotted for the next working day. Scripbox will clearly show you the date of Investment.
Investment via Net Banking :
- If you have transferred money using the Net Banking payment method from 12:00 AM to 11:59 PM on a working day, then the mutual fund units will be allotted for the next working day. i.e. T+1, irrespective of what time you place the investment instruction.
- For instance, if you place an investment instruction around 11am or 11pm on a working day through Internet Banking, your investment will get processed with the NAV of the next working day.
Check out: Mutual Fund Cut Off Time
Automated transfer based on linking your bank account
- You can expect the mutual funds units to be allotted to you on the next (maximum 2) working days from the scheduled date of your investment.
For example:
January 10: The date on which you have scheduled your investment
January 10: Money get transferred from your bank account
January 11: We receive confirmation of transfer from your bank
January 11: We inform the mutual fund company/s on your investment instruction and send your details. Units get allotted to you with 11th January’s applicable NAV
January 12: You receive confirmation from the mutual fund company/s and Scripbox on your successful investment/s.
Please note that the above example assumes all days are working days. In case of holidays or weekends, the next working date will need to be considered. So, if 11th and 12th are on Saturday or Sunday, the entire process will only be completed by the 14th.
Your Mutual Fund Investments will reflect as successful in the Scripbox account by the next working day once your investments are successfully confirmed by the Mutual Fund Companies in which you have invested through us.
Below are the list of banks that supports net banking transactions:
- Andhra Bank
- AU Small Finance Bank
- Axis Bank
- Bank Of Baroda
- Catholic Syrian Bank
- Canara Bank
- Central Bank of India
- City Union Bank
- Corporation Bank
- DCB Dhanlaxmi bank
- Equitas Small Finance Bank
- Federal Bank
- ICICI Bank
- IDFC First Bank
- Indian Bank
- Indian Overseas Bank
- IndusInd Bank
- Jammu & Kashmir Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- Punjab National Bank
- South Indian Bank
- Standard Chartered
- SVC Co-operative Bank
- Tamilnad Mercantile Bank
- The Ratnakar Bank Limited (RBL)
- Union Bank of India
- UCO Bank
- Yes Bank
- ING VYSYA BANK LTD
- ORIENTAL BANK OF COMMERCE
- SYNDICATE BANK
- UNITED BANK OF INDIA
- VIJAYA BANK
- HDFC Bank
- IDBI Bank
- Karnataka Bank
- State Bank Of India
- The Lakshmi Vilas Bank Limited