How long does it take for money to be credited to my bank account once I make a redemption?

It typically takes 2-3 business days for the money to be credited to your account once a successful withdrawal request is made.

Can I partially withdraw funds from my jar?

Yes. Upto 90% of the current jar value can be withdrawn under the partial withdrawal option. If you would like to withdraw more than 90% of the total jar value, the “full withdraw” option has to be selected. When you fully withdraw money from a jar, the entire amount gets credited to your bank account […]

Can I withdraw my funds anytime?

Absolutely! Except for tax saving (ELSS) schemes which are mandated to be locked-in for 3 years, Moneyjar allows you to withdraw your funds whenever you wish to. There might be a specific mutual fund house mandated exit load on certain funds if you withdraw them before a certain time period.

How long does it take for my SIP to activate after I send you the NACH mandate?

The NACH mandate form takes about 15 working days after we receive it to get approved. Unfortunately, this is bank specific TAT and there is nothing we can do to expedite this process. You can help reduce the total time to start your SIP by sending us the NACH mandate as soon as you place […]

What is the NACH Mandate needed for?

The NACH mandate is generated and required to be signed and sent to us anytime you start a new SIP or increase your SIP amount. It allows the mutual fund companies to debit the amount entered by you automatically from your bank account. The NACH form is present in the ‘Documents’ section of your dashboard. […]

What if I miss a SIP instalment?

This event would occur if you do not have adequate balance in your bank account on the SIP debit date or the SIP Setup has not been approved yet. While missing a SIP instalment is not recommended and has its obvious disadvantages, it does not pose a serious issue transactionally. The payments will continue normally […]

Why are there multiple SIP debits from my bank account?

When you create or increase a SIP on the Moneyjar platform, you are starting SIP’s in multiple mutual funds that are part of your jar. As each fund might have different debit dates or times, you might see multiple debits in your bank account. However, the total amounts of debits will always match the SIP […]

What actions can I take on an existing SIP?

If you have already set up a SIP in a jar you are invested in, you can: – Increase the monthly SIP amount – Stop the SIP anytime you like When you stop a SIP, the amount already present in your jar remains. No further instalments would be debited from your account. However, if you […]

Can I setup my SIP online?

Yes, one of the best parts of investing with Moneyjar is the ability to setup the SIP online. Once you invest in a jar through an SIP, go to the Documents section where you will find information on how to setup the SIP by adding a biller in your net-banking console. Can’t figure it out? […]

What are my options after my jar has been funded and is active?

If the jar had been setup using a lumpsum investment: You can top up your jar by making additional lumpsum investments, setup a SIP and partially or fully withdraw the money in your jar. If the jar had been set up by starting a SIP: You can top up your jar by making additional lumpsum […]

Can I make a short-term investments also?

Of course! Contrary to popular belief, there are mutual funds that have similar risk profiles to fixed deposits called debt mutual funds. They provide a more tax efficient and a rewarding alternative to keeping your money lying idle in savings accounts or inefficient fixed deposits. On Moneyjar, we have several pre-made jars like the Safe […]

Can I only create a single jar?

There is no limit to the number of jars you can create! In fact we encourage you to have different jars for different goals or needs in order to stay true to the “Jars” philosophy of investing.

Why is there a lag between the money getting debited from my account and seeing my investment details on the dashboard?

The allocation of your investments is dependent upon the TAT’s for processing by the fund houses. Moneyjar sends the investment details to these fund houses through BSEStar and the respective RTA’s and displays them on your dashboard as soon as we receive details of the allotment of your investments. This typically takes about 2-3 working […]

Why does my jar show a “Pending” or “In process” status?

A jar can primarily be in the following three states: Pending: A jar is in pending mode when it has not been funded yet. Clicking on ‘Continue Construction’ will allow you to edit any parameters if required and then take you to the payment page for funding your jar. In Process: A jar is is […]

Does the amount that is debited from my account get transferred to Moneyjar’s account at any point of time?

Absolutely not! The money goes directly from your account to the Mutual fund company who in turn allots units to you in the mutual fund scheme chosen.