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Frequently Asked Questions

We’ve compiled a list of the questions we get asked the most often. To jump
to the section you’re most interested in, simply click on the section on
the left.To see the answer press one of the questions directly below.

WealthApp currently caters to mutual fund products, besides value added products such as WA SPRINT and Financial Cleanse. You can read more about them in the related FAQ sections. We will keep intimating you as and when we devise more products that are useful for you.
A mutual fund is an investment tool that collects money from many investors and pools it together in one large pot. The professional manager for the fund invests the money in different types of assets including stocks, bonds etc.
Currently, our services are free of charge to our customers. However, we may have a few fee based optional premium services in the future.
WealthApp currently caters to resident as well as non-resident individuals. We are in the process of adding corporate accounts and accounts for joint holders.
Please write to customer support team at contact@wealthapp.com. The team works directly with the senior management. You will have a reply within 3 business days, or earlier.
WealthApp is AMFI registered online mutual fund platform (ARN-109127) and all mutual funds are currently regulated by SEBI.
WealthApp is Robo-advisory platform, which provides all financial advisory services online and one can complete the onboarding from any part of globe and start investing immediately.
We would be happy to meet you at our office situated in Indiranagar, Bengaluru.
Office address:
WealthApp Financial Advisors Pvt. Ltd.
Ujjini Pinnacle building, 2nd Floor, No. 222,
Ist Main Road,
Stage 2, Domlur,
Bengaluru,
Karnataka 560071
At WealthApp, we are focused on guiding you through the complex world of investments, in an easy to understand manner. Besides being known for our extremely customer friendly support, here are a few points of difference between us and a few other players in the market who may appear to be similar.

Features WealthApp Others
Robo advisory Yes No
Portfolio Rebalancing Yes No
Advisory Services Yes No
Financial Planning Yes No
Account opening charges No No
Short listing best schemes & Selection Yes No
Tie up with All AMC’s Yes Few
When you invest your money through WealthApp, the money directly go to mutual fund account and in case you need to withdraw your monies, they are credited back to your bank account by the mutual fund house. Your money or investments never hit the WealthApp account. 
The mutual fund units are held in your name and all the details are available with you. So, in the unlikely situation that WealthApp closes its business operations, your money/investments are NOT impacted. Further, you can continue to deal directly with the mutual fund company on your investments made through the WealthApp platform. In any case, WealthApp is a well-funded growing business and this is a hypothetical question.

Onboarding / Account Setup

(हिंदी में पढ़ें)
We strongly believe that the financial situation of each investor is unique and that warrants an investment plan that is tailored to the same. Therefore, as advisors, it becomes important for us to understand your needs before tailoring the investment plan for you. Based on your inputs, our algorithm makes recommendations suited to your specific requirements. Some of our future services will also take into account your inputs to help us serve you better and in a more relevant manner. Therefore, we urge our clients to go through the profiling procedure so they can make the most out of their money.
No, we have a complete paperless platform and you can complete your onboarding fully digitally and start investing without submitting any documents. However, if you are comfortable submitting paper documents for this process, please reach out to us at contact@wealthapp.com and our friendly support team will assist you with the same.
Yes, you have absolute freedom to select from one of the pre-defined financial goals or create your own goal as per your requirements. In either case, we will understand your specific needs and recommend a customized portfolio of best mutual funds.
This is a perfectly common situation and in such case you may opt for the pre-defined “general investing” goal. If you want, you are also free to create a custom goal.
KYC stands for “know your customer” and is a SEBI requirement that needs to be fulfilled before one starts investing with WealthApp or anyone else.
Under this, we need to ascertain your PAN, identity, address and bank account details to set up your account. If this has already been done prior through any agency, you just need to key in the details on our platform and there no need to redo the KYC. If not done earlier, you will need to go through KYC process, which can be done fully electronically on our platform, or by sending physical documents to us for the process.
Yes, if your KYC is done using e-KYC services then you can invest up to Rs. 50,000 per Mutual Fund Company / per year. So, if you select one of our recommended portfolios that typically have 3-4 schemes, you should be able to invest Rs. 1,50,000 – 2,00,000 per year with e-KYC. In case you intend to invest a higher amount, please reach out to us at contact@wealthapp.com and we will assist you in upgrading your KYC and having the limits removed.
NACH (National Automated Clearing House) Mandate is a physical mandate that one has to provide in order to register the mandate at the issuing Bank’s end. This is a prerequisite to start the investments through SIP Mode, which facilitates automated monthly deductions from your bank account towards your investments.
E- Aadhar Mandate is an alternate to physical mandate and can be set up using aadhar e-KYC services. There is no need of sending physical mandate for mandate registration in case of aadhar mandate process. This is required to set up SIP (systematic investment plan) investments.
The amount written on the NACH mandate indicates the maximum amount that can go through on a single day. This limit is set to avoid rejection should you have more amount of SIP or lumpsum investment in the future.
Monthly deduction in your account will only be based on the SIP amount you set on your account. In other words, if you set up a SIP of Rs. 10,000 every month on a specific date then Rs. 10,000 will only be debited from your bank account one business day prior to SIP date. As mentioned, Rs. 50,000 /- is only the maximum daily limit for a debit to happen, subject to your instructions.
FATCA (Foreign Account Tax Compliance Act) is a regulation created by the US Government to limit tax evasion by US citizens. Under this regulation, assets held by US citizens in other countries now have to be reported to the US government. India has signed a reciprocal agreement with the US government to share such information about each other’s’ citizens. Therefore, as per of FATCA, all financial institutions (such as mutual funds) have to identify the citizenship and tax status of their investors and provide the necessary information to the government. This information is captured at the time of your WealthApp account creation and does not require any further actions from your end.
India has signed a reciprocal agreement with the US government to share such information about each other’s’ citizens. Therefore all financial institutions (such as mutual funds) have to identify the citizenship and tax status of their investors and provide the necessary information to the government. All you have to do is make a declaration to that effect (this is captured at the time of your WealthApp account creation itself) and the mutual fund company will keep that on records.
Yes, all NRI investors need to submit self-attested copies of the following documents to complete their KYC.
  • KYC form duly filled and signed
  • One photograph
  • Copy of Pan Card
  • Copy of Passport
  • Copy of Foreign Address Proof
  • Copy of Indian Address proof – if you wish to add an Indian Address as well
  • Copy of cancelled cheque leaf
Yes, you can invest in selected Indian mutual funds, but only through the offline mode at this time. Following are documents required for the same.
Investment Processing
  • Investment Application
  • FATCA & UBO declaration ( for most of AMC, this will be part of application form)
  • Investment Cheque
  • Additional declaration as per the AMC format. ( format differs from AMC to AMC)
KYC Processing (self-attested copies)
  • KYC form duly filled and signed
  • One photograph
  • Copy of Pan Card
  • Copy of Passport
  • Copy of Foreign Address Proof
  • Copy of Indian Address proof – if you wish to add an Indian Address as well
  • Copy of cancelled cheque leaf
While you can invest in a minor’s name, you can only do so offline. Please reach out to us at contact@wealthapp.com for help with this. Alternatively, you can invest online on the WealthApp platform while nominating a minor.
SEBI (Securities Exchange Board of India) has restricted investment in Mutual Funds using Cash or Credit Card. However, investments made through E-wallet is allowed subject to restriction of Rs.50, 000 /- and source of funds to be produced. Currently, WA platform allows investments only through Net banking, Debit Card and through Common Mandate (NACH/ECS).
SIP (systematic investment plan) is an investing method in which you pre-decide the investment amounts, dates and schemes. Once the SIP is set up with these details, every month on those dates the investments are made into the decided mutual fund schemes by way of an auto-debit from your bank account. SIPs are considered one of the best investment methods since your investments happen over a period of time allowing you to buy at market highs and lows, thereby averaging your cost.
Alternatively, if you have a certain amount saved up today that you wish to invest, you can choose the lump sum, or one-time investment method. With this, you select your portfolio and make an investment at one-shot now, without needing to specify any future investment dates/amounts. This method allows you to reap the benefits of compounding over a period of time and has the potential to optimize returns on your savings that may have otherwise languished in your bank account.
You may read more on this on our blog here https://wealthapp.com/blog/sip-or-lumpsum-payment-option-which-is-a-better-option-for-investing/
We research the entire mutual fund universe to arrive at a hand-picked portfolio customized for your specific needs.


Each of the mutual fund holdings in the recommended portfolio have been back tested for superior risk adjusted returns and have met our stringent qualitative parameters of selection. Note: We have relied upon the principles of modern portfolio theory, efficient frontier modeling as well as Monte Carlo simulations to arrive at the recommendations.
For details on our “Investment Policy Document”, please click here.
There is no separate charge to be paid for mutual funds. You only need to make payment for the amount you wish to invest.
Most people find themselves in similar situations. Forecasting the investment amounts required to be made to achieve a particular goal requires certain complex calculations basis the target date and amount for your goal and other factors such as asset class mix, inflation etc.. We have simplified this for you by having in-built calculators for each goal that you set up. Once you are on your personalized dashboard, you can find the same by clicking on “Help me calculate” tab, which will let you know the SIP/ Lump sum amount you need to invest to achieve your financial goal. You simply need to input your target goal date and present value of your goal to see the results.
You have a certain fixed amount you wish to spare to invest and grow. This could be on a monthly and/or one-time basis and naturally, you would like to understand how much this could potentially grow to over a period of time. Such forecasting again requires certain complex calculations basis the amount you wish to invest and other factors such as asset class mix, potential returns across categories etc.. We have simplified this for you by having in-built calculators for each goal that you set up. Once you are on your personalized dashboard, you can find the same by clicking on “Help me calculate” tab, which will help you understand how much you are likely to achieve by investing certain amounts as one-time and/or on a monthly (SIP) basis. All you need to do is key in the investment amounts you wish to make and select a target date to see the value the goal will grow to.
If your SIP is set for the 5th of every month, then the amount will be debited one business day prior to SIP date i.e on 04th of the month if it is a working day. We encourage the debit one business day prior to SIP date so that you can enjoy the NAV of SIP date.
Yes, one can either increase/decrease or cancel the SIP amount, or change the SIP dates 7 business days prior to the SIP date. This can be done via the edit/cancel button on your personalized WealthApp dashboard.
At this moment, we do not have STP & SWP facility on our platform and we may look to add it in the future.
Except ELSS ( Equity Linked Savings Funds ) or Tax Savings Funds which have a lock-in of 3 years from the date of investment, there is no lock-in period and you can withdraw your investment any time. Redemptions may be subject to exit loads and taxes and we advise our customers to check these before making any redemption decisions.
Mutual funds carry various advantages of liquidity and tax efficiency over various other forms of investment. Below table provides a quick overview of the comparison.
Parameters Savings Account FD/Bonds Gold Debt Mutual Fund Real Estate Equity Mutual Fund/Stocks
Returns 3.5-4% 6.5-7% 7.5% 9% 12% 15%
Risk Level Low Low Medium Medium High High
Min. Investment Low Low Low Low Very High Low
Liquidity Very High Low High Medium Very Low Medium
Tax Efficiency Poor Poor Neutral High Medium Superior
Inflation Efficiency Poor Poor Poor Medium High Superior
No, this feature is not available currently on WealthApp platform, but one can redeem /withdraw from one fund and then reinvest in the other scheme.
Yes, you can see your existing portfolio under one roof i.e on your WealthApp dashboard once you complete the ‘change of broker’ formalities, which can be initiated through a simple letter. Please write to us at contact@wealthapp.com and we will handhold you with this.
Our recommendations are backed by tremendous amount of research and are highly customized keeping your risk profile in mind. However, in the rare instance that you tend to disagree with our recommendations, you have the option to discard them by clicking the portfolio edit button and following the DIY (Do-It-Yourself) approach. However, we do suggest that you go the DIY way only if you are an experienced investor.
Yes, we do have tie-up with all the Mutual Fund Houses in India. Though, we suggest our clients to go for recommended portfolios which are designed as per their risk appetite and investment horizon, we do have open architecture on our platform where one can choose the schemes as per their wish.
Except ELSS ( Equity Linked Savings Funds ) or Tax Savings Funds which have a lock-in of 3 years from the date of investment, there is no lock-in period and you can withdraw your investment any time. Redemptions may be subject to exit loads and taxes and we advise our customers to check these before making any redemption decisions.
The redemption or withdrawal period differs from scheme to scheme. In case of Debt Mutual Funds, you can expect the funds in your bank account within 2 working days whereas for equity mutual funds , redemptions would take 3-4 working days for the payment processing.
Note: For debt mutual funds the cut off to place buy/sell orders is 1 PM while for equity mutual funds it is 2 pm on a business day. Any orders placed post these cut offs get carried forward and are accepted the next business day. The above-mentioned timelines become effective from the day the order is accepted.
No, we do not have access to your bank account. We only link your bank account for the purpose of secure payment gateway transactions or NACH transactions, as and when you invest money.
As per regulation, you may only invest from your own bank account. You cannot invest from any third party’s bank account even if the account belongs to your friends or family.
STT is a central government levied tax and stands for ‘securities transaction tax’. It amounts to 0.001% of the transaction value at the time of sale of an equity mutual fund. This is automatically reduced by the fund house from the redemption value and need not be paid separately by you.
Exit load is a charge levied by the mutual fund house in case investments are redeemed within a certain pre-defined period. These charges vary from one scheme to another and if applicable, are reduced from the redemption amounts. You need not pay these charges separately.
Laws vary according to your residential and citizenship status. For Indian citizens and residents, Indian tax laws are applicable to the returns when investments are sold. Short term capital gains tax (for holdings less than 1 year) on equity investments is 15% on the profits, while long term capital gains tax (for holdings greater than 1 year) is 10% on the profits made in excess of 1 lac. Short term capital gains tax (for holdings less than 3 years) on debt investments is as per your income tax slab while long term (holding greater than 3 years) capital gains tax is 20% with indexation benefit currently.
For NRIs, short term capital gains tax (for holdings less than 1 year) on equity investments is 15% (by way of TDS) while long term capital gains tax (for holdings greater than 1 year) is 10% (by way of TDS) on the gains made over and above 1 lac. Further, short term capital gains tax (for holdings less than 3 years) on debt investments for NRIs is as per their tax slab (however, 30% is deducted by way of TDS and if this is lower than your tax slab the excess tax can be claimed for refund) while long term capital gains tax (for holdings greater than 3 years) is 20% with indexation benefit currently.
Our recommendations and ongoing advisory takes these aspects in to account so that you have minimal tax impact.
We do not charge anything to our customers. We get a small fee from Mutual Fund Companies for the services rendered to our customers.
While we are confident that you will not be disappointed with our services, in the rare instance that you wish to discontinue using the same, you can inform us via an email from your registered email id. It is our commitment to assist you with the transition within 7 working days of your request. As WA services are free and you are not paying anything to us, there will not be any refund of fee. We will arrange to share with you the status of all your investments and transactions through us for your complete records.
No, the investor needs to consult their tax advisor and pay taxes on such gains as per their income tax situations.
There may be some exit loads and tax implications when you redeem your mutual fund investments. These vary depending upon the type of mutual fund you are withdrawing – Equity Mutual Funds and Debt Mutual Funds.
Please refer the FAQs under Investment related questions to read more on exit loads and taxes.
No. WealthApp doesn’t charge anything for a failed transaction. However, your bank may levy penalty for the failed NACH debit attempt. We advise you to check with your bank if any such charges are applicable to your bank account. Nevertheless, it is best to keep your bank account adequately funded for any investment transactions you are making.
WealthApp does not charge you for linking your bank account for automated transfers. However, your bank may levy a one-time fee for mandate registration. This fee is determined by the bank. Following are the list of banks which we know, charge for linking your account: Axis Bank, Corporation Bank and Syndicate Bank. We recommend that you check with your bank regarding any fee for linking your bank account as policies can keep changing from time to time.

WealthApp SPRINT & Financial Cleanse

(हिंदी में पढ़ें)
WealthApp Sprint is a unique first of its kind product, created considering the changing ‘savings’ needs of our customers. Most people today struggle to save money because they are not sure of how much to save, when to save, how to save and what to do with the money that has been saved. In WealthApp Sprint you have your personal ‘automated savings assistant’ that answers all of the above.
SPRINT is built on the theory of micro savings i.e. you save in smaller bits through the month as against saving a larger chunk at one shot, to achieve the same savings goals. For example, if you wish to save Rs. 5000 in a month, you could do so by savings Rs. 200, twenty-five times over a month instead of having to keep aside the whole Rs. 5000 at one shot. While saving in smaller bits has the same beneficial outcome, it hurts your wallet less since the process is more gradual.
Further, this also helps achieve more efficient returns on the money that may have otherwise languished in your bank account.
Once you enroll for SPRINT, it starts tracking your expenses into the month. Every time you incur an expense, it takes a small 5% of that expense amount and saves it into a ‘virtual pool’. You can see this happening on your SPRINT dashboard in real-time. As your expenses build up and every time your virtual pool crosses Rs. 100, an automatic debit for the amount in the virtual pool is made to your bank account and this money is saved in liquid fund. With every such debit, the virtual pool is zeroized. This too is visible for you to see on the SPRINT dashboard. Thus, whenever you spend - you save. So, if you are a spendthrift don’t worry we will do the saving for you 😊
You can subscribe through our mobile app on your android phone. Once you log in with your credentials ,you will find WealthApp SPRINT on the dashboard. Please click on the “Get Started“ button, set your monthly savings target and press the ENROLL button – and you are done. This takes less than 30 seconds and puts you on tack to save money for your well being.
We will debit your money through NACH form and it will get debited within 2-3 working days once your virtual pool account crosses Rs.100.
You have multiple expenses, of varying amounts, being incurred through a month. We don’t want to be debiting your account repeatedly to accumulate your savings. Hence, we conceptualized the ‘virtual pool’. You can imagine this as an electronic holding counter that keeps tab of the savings being accumulated. Every time the virtual pool exceeds Rs. 100, a savings debit is made to your bank account for the amount that was in the virtual pool, and the pool is reset. This cycle follows until the savings target set by you for the month is achieved.
For savings that you achieve using SPRINT, the money is invested into Reliance liquid fund.
We have you covered here as well, since we understand that access to savings could be required at extremely short notice. Therefore, we built the ‘instant redemption’ feature. You can use this feature to redeem upto 90% of the saved amount INSTANTLY, and the money will be credited to your bank within 30 minutes flat - 24/7/365, weekdays or weekends.
In case you wish to redeem the entire amount, please use the regular redemption option to redeem full amount which will get credited to your bank within 1-2 business days.
We thought about that too. And therefore, have restricted SPRINT to consider expense amounts only between Rs. 100 – 25,000. Any expenses outside of this range are not considered for the purpose of SPRINT savings. So, the maximum amount you can see getting saved in one transaction is Rs. 1,250 (i.e. 5% of Rs. 25,000).
Think of Financial Cleanse as a fiscal therapy to rid your financial system of the tensions of financial planning and the hassles of debt. What do you gain? A roadmap to the success of your financial security & goals, resulting in a productive and highly motivated work-life balance.
Our comprehensive Financial Cleanse program comprises of 3 sessions of 1 hour each with a dedicated and highly experienced financial counsellor, spread across 3-weeks. That’s a total of 3 highly focused hours to help you understand your current financial situation, identify areas of improvement and put a firm roadmap to financial success. We take you through a step-by-step awareness & strategy model under the experienced guidance of our financial counsellors to evaluate and boost your current financial situation.
We are glad that you have made a step in the right direction. To understand more about investing with us, you can either chat with our advisor on our website or call us at 080-33085800 (during business hours). Alternatively, you can drop us a line at contact@wealthapp.com with your details & nature of question and we will contact you within one working day to assist.
The custody of your money is always with the mutual fund houses, and not with WealthApp. WealthApp only helps you select the right investments for your requirements and facilitates the transfer of money that you wish to invest from your bank to the mutual fund’s bank through the integrated secure payment gateway services.
You may change or update details in your account by sending few documents to us. These documents are required by the AMC / Fund House in order to effect the change. You can contact WealthApp customer support team or you can even write an email to contact@wealthapp.com and we will assist you with this.
Yes, you can reset or change password by clicking forgot password on login page of WealthApp. It will ask you to enter your email id registered with WealthApp.  After entering the email id, you will be notified with a Password Reset link on your registered email ID. Please click on the link and set a new password you wish to keep, and you are done!!!
Yes, you will be advised about portfolios that are fully directed towards tax savings, if that’s a goal you choose.
Once a transaction has been made, there is no possibility of reversing the transaction per se. However, if you do have a change of mind, as your trusted advisors we will be happy to guide you through the situation and suggest alternatives considering the tax and exit load implications that the underlying funds may have.
When you place any investments, the amount is debited from your account and it directly goes to Mutual Fund Companies and once the transaction is processed, the details will be available on your personalized WealthApp dashboard. Additionally, Mutual Fund Companies also send you the account statement on your registered email id. In case you seem to be missing any details, please reach out to us at contact@wealthapp.com and will be happy to help.
Generally, if the investment order is placed before 1 pm, the transaction is processed on the same day and mutual fund company allots the units on T+1 or T+2 days and the reverse feeds come in the subsequent day. Once the units are allotted and reverse feeds are received, we update the transactions on your dashboard immediately. So you can expect the update on your investments in overall 3-4 working days.
The scale bar represents the various portfolios of suggested mutual funds. You are assigned a portfolio based on the initial profiling and the target date for that goal. Each of these portfolio scores have a unique asset allocation among debt and equity. While we have allocated a profile score basis the profiler, you are free to explore the different asset allocation mix for each of the different scores by scrolling the scale bar.
A Starter Portfolio is a portfolio of top selected mutual funds, suitable for those who are looking to start investing in mutual funds and test waters. Starter portfolios typically have lower minimum requirements compared to our regular portfolios, so beginners can explore easily.
A Rainy-day fund is nothing but a piggy bank where you could put your money and pull it out whenever you face a financial crisis such as the loss of a job, a medical emergency or a major repair to your home.
The main goal of the fund is to make you financially secure and pre-prepared for whatever life might throw at you. The goal here is to create a safety net of funds for your emergency expenses along with reducing the need to take a high interest rate loan or using a credit card. For this goal, we only suggest liquid mutual funds.
Retirement planning is one of the most important financial plans that one must undertake to secure their future after retirement. One should start planning as early as possible for this fund to reduce the pressure of high amount of investment at the later stage of life. The goal, Retirement Planning on our platform is based on your risk profile and the duration of your goal. Here, we will suggest you top performing funds for long term investments, which will have a diversified portfolio across the categories.
Tax planning is a goal in which we will suggest you best ELSS (equity linked savings schemes) funds so than you can avail the tax exemption under section 80C. Under this section the amount which you will invest is exempted from Income Tax which is up to 1.5 lakhs. Hence, you can reduce the tax deduction of up to 46,000 from your income. Which basically means you will be saving tax of 46,000 from your income. Do note that ELSS funds have a lock-in period of 3 years, which is still lower than all other forms of tax saving instruments.