FAQ's


   
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1. What is Transact Online

Transact Online is a service offered on http://www.licmf.com for investors of LIC Mutual Fund whereby they can Purchase, Redeem or Switch units online. They can also view their Account Details, Transaction Details and Statement of Account online.

2. Is transacting through Transact Online safe ?

Yes! LIC Mutual Fund website uses SSL technology to ensure that the information transmitted between you and us across the internet is safe and secured. Secure Sockets Layer (SSL) is a common and the most effective protocol for sending confidential information securely over the Internet. SSL works by using a private, mathematical key to encrypt (or scramble) data that's transferred between your Web browser and the website you're visiting. This Digital Security certificate has one 128-bit encryption level and is obtained from Verisign (Safescript).

3 . What are the features available in Transact Online account?

  1. My Profile – In this feature an investor can view the account information. This feature also allows an investor to associate (Add) the folio or Dissociate (Delete) the folio from the common user ID, change PIN and change password.
  2. My Portfolio - In this feature an investor can track his portfolio with LIC Mutual Fund he can view the
    • Portfolio Snapshot,
    • Statement of Account,
    • Transaction Details
    • Personal details.
  3. Transact Online – The investor can Purchase, Switch or redeem the units of LIC Mutual Fund online.

4. Who is eligible to register for Transact Online facility?

The investors who have an investments in LIC Mutual Fund and also the email id registered with us under the Folio Number.

5.  How can the investor register for Transact Online facility?

Login to http://www.licmf.com and follow the below steps.

  • Click on the INVEST ONLINE on the right hand side of the he home page.
  • A new window will open. Click on the Online PIN generation.
  • Input all required criteria to generate PIN.
  • Using your Folio No and Personal Identification Number(for PIN generation refer point no 6 below) your USER ID and Password will get generated and communication will be sent to the registered email ID.
Please note that the registered email id will be the User id.

6. How to generate PIN/regenerate the PIN?

Login to http://www.licmf.com and follow the below steps

  • Click on the Online PIN generation under Login on LIC MUTUAL FUND MF website. Enter the folio No. PAN No of the first holder, Bank Account Number given under the folio(default bank in case of multiple bank registered) and Captcha Code
  • Accept the terms and conditions of the online transactions displayed on the log in page and click on submit
  • On generation of the PIN, an email will be sent to your registered email id comprising with password protected attachment.

7. To transact, whether the PIN will be same for all the folios associated under the common user ID?

Yes. PIN will remain same for all the folios associated with the common user ID.

8.  Do the investor need to be KYC compliant in order to Transact Online?

Yes, with effect from 1st Jan 2011, KYC is mandatory for all class of investors irrespective of the amount proposed to be invested.

9.  Is there any physical documents required to open an Online Transaction account?

No physical documents are required to open an online transaction account.

10.  Is there any charge for account opening?

Currently the service is absolutely free. However we request you to check with your banker for any charges they levied.

11.  If the investor forgets online password, what needs to be done ?

Investor has to opt for ‘Forgot Password' link on the login page. The link will display the hint question and then investor has to enter the answer as updated at the time of user id registration. The new password will be triggered to the investor’s registered email id.

12. Who can avail the transact Online facility ?

Currently the individuals and NRIs can avail the facility.

13. What are the precautions the investor need to take while transacting online?

Transaction PIN allotted to the investor should not be shared with anyone as it is equivalent to the investor signature for online transactions and can be used for redeeming the proceeds of the investments and use various other options available in the secured site.

14. Can the investor transact through both Physical and Online mode in the same folio?

Yes

 
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