Frequently Asked Questions
Be in good hands.
Use advice plus support to build a winning portfolio and reach your financial goals, faster.
Note: Unovest is not a Robo-Advisor. To know why, read this.
1. How can I start using Unovest?
It’s simple. Create a FREE online transaction account with Unovest at smart.unovest.co.
As soon as you login, enter your Common Account Number (CAN). For verification, upload or send across the CAN confirmation email from MFU. We will verify the CAN and activate your online transactions.
Go on to set your Goals and complete your Risk Profile.
Once you are through this, you can start investing online in direct plans of mutual funds.
In case you don’t have a CAN, you can create your CAN online. It is a one time, highly useful exercise. https://unovest.co/2016/12/e-can-transact-online-mutual-funds/
You can also upload your existing mutual fund portfolio that you have and view reports and analysis. You can map the investments to your goals and track your progress on those goals.
Note: Online transactions in Direct Plans is completely FREE on Unovest. However, CAN is required for doing online transactions.
2. What is a FREE Account?
A Free account enables you to do several things including transact online in direct plans of mutual funds. You get a feel of what is in store. You can use it to
- Add your goals,
- Upload your existing mutual fund portfolio in 1-click,
- Create and/or Add your Common Account Number or CAN(s),
- Map your existing folios with your CAN(s) as well as to your goals and
- View quick portfolio reports including a summary, analysis, gain/loss and switch report.
Once you are ready to take your experience further, you can sign up for a paid account.
3. What is a Paid Account?
A paid account is your next step. You can access additional features on Unovest such as Model Portfolios and Portfolio Insights along with support to create a customised portfolio, if need be.
Expect to get answers to the following questions with your paid account:
- How are my mutual fund investments doing?
- Have I chosen the right funds? Am I diversified enough?
- Do I need to make changes to my portfolio, if any?
- How likely am I to meet my goals?
- Have I been investing consistently?
To know more about Unovest Services & Fees, click here
4. What is a CAN or Common Account Number?
CAN or Common Account Number is your universal folio number for mutual funds, issued by MF Utilities, Mutual Fund Industry initiative.
To know more about CAN and its benefits, click here.
To know how to get a CAN online, paperless, click here.
Please note that in case of eCAN, only confirmed CANs work on Unovest and not Provisional CANs.
5. What type of transactions can I do through Unovest?
You can make lumpsum purchases, start SIPs and do STPs, SWPs and make Switch transactions (including that from regular plan to direct plan) through Unovest.
Currently, you can do transactions in schemes of 27 fund houses.
6. Who all can invest through Unovest?
Anyone can use Unovest.
However, only Individuals and Joint holders (as ‘anyone or survivor’) will be able to transact online as of now.
7. Can NRIs invest through Unovest?
Yes, NRIs can create an account and invest through Unovest.
Note: US and Canada based NRIs are restricted by several mutual funds from making investments. To know more, click to read this.
8. Can I use the same account to view and transact in my family portfolio?
Oh yes, of course. You can have multiple CANs belonging to your family members, mapped to the same account . Family would include you, your spouse, dependent children and parents.
You can transact and view CAN based reports through a single login. This facility is part of the premium service.
9. Is there a per transaction fee?
No, there is no per transaction fee. In fact, there is no transaction fee at all on Unovest. If you have a valid CAN, you can transact on Unovest absolutely FREE.
You can do UNLIMITED number of transactions in direct schemes of the enrolled mutual funds (currently 26 Mutual Fund houses).
10. Which Mutual Funds are currently available?
While you can track and manage any scheme from any mutual fund, you can transact in schemes from 27 mutual fund houses. Here they are:
- Birla Sun Life
- BNP Paribas
- DSP BlackRock
- Franklin Templeton
- India Infoline
- L & T
- Motilal Oswal
- Principal PNB
11. Is my data safe? How secured are the online transactions?
The Unovest platform is secured with a verified Thawte SSL web server security, capable of up to 256-bit encryption and complies with the strongest identity authentication standard available today. You can verify it by clicking on the Thawte seal that appears at the bottom of smart.unovest.co.
For execution of your fund transactions, we have patterned with MFU which ensures a secured environment to transfer transaction data.
“No transaction data will be stored in MFU for beyond a certain period. Besides, MFU infrastructure has multi-layered security features with state-of-the-art security appliances which are thoroughly tested through independent security testing agencies. In addition, MFU will only act as a Transaction Aggregation Portal which will accept and forward the transactions to the respective AMC/RTA.”
12. How can I switch my existing investments in regular plans to direct plans through Unovest?
Once you have created an account with Unovest, you can upload your existing mutual fund details. Here is how to do it: Track all your mutual fund portfolio in one place with Unovest
Post, that map your folios to your CAN using CAN folio mapping. You will then receive an alert on the schemes that can be converted into Direct Plans. You will also be notified of the time when those investments will be capital gains tax-free as also of the lock-in period.
Note: Your CAN holding type should match your actual MF holding type. Only then you can use the CAN to transact in your existing MFs.
13. Will you tell me which mutual funds to invest in?
Yes, we understand that choosing a mutual fund may not be an easy task.
To help you with this, you can choose one of our suggested portfolios based on your risk profile and time horizon. You can see this under MF Portfolios – available in the Premium Section of your account.
You can also take up our personalised advisory services such as mutual fund portfolio review or comprehensive financial planning.
14. Is there any catch here?
There is no catch. Our only mission is to help you reach your financial goals, faster. We do not receive any commissions from any mutual fund house or any entity for that matter. We charge a flat annual fee for our services. Our only customer is YOU. Our only focus is YOU.
15. Can I transact in existing folios?
Oh yes, you can transact in existing folios (of the mutual funds that are available to transact). As soon as your CAN gets verified, go ahead, upload your existing mutual fund portfolio and map the folios to your CAN using the CAN folio mapping feature.
Then go to Transact under Premium Section. You will see a list of your existing folios mapped to your CAN along with short cuts to make a transaction in those folios.
16. Once I have updated my CAN, will my transactions get updated automatically?
Unfortunately, that is not the case as of now. Only, those lumpsum and switch transactions that have been done through Unovest will be automatically updated on Unovest. We are in the process of adding systematic transaction autoupdate as well.
Any other transactions that you do outside Unovest including SIPs, STPs or SWPs have to be manually uploaded using the 1 click upload of the CAMS detailed transactions statement.
17. While filling the CAN form, I cannot see my bank in your list. Will you add it?
That’s no problem. If your bank is not in the list, there is a handy “Add your Bank” button (RED colour) on the same page. Just click it and you can add your own bank branch details.
18. For PayEezz registration, do I have to visit my bank branch to get the authorisation?
No, you do not have to visit your bank branch. Just mention the required details on the form and send it across to MFU or us. They will take care of it. Here is a detailed note on filling the PayEezz form.
19. I want to delete some of my transactions that I have uploaded. How can I do it?
Just send us a message using “Ask a Question” feature and mention which transactions or folios you wish to get deleted. We would be happy to help you. Now, you can use the Delete transactions link at the bottom of your post login Menu to delete any transactions or folios.
20. How can I delete my Unovest account?
Ah! This is not something pleasant. We want to serve you for next 50 years. Yet if you feel Unovest is not the right service for you, just let us know. We would delete your account permanently.
We respect your choice. We would love to have your feedback though.