Deciml App

img

Frequently Asked Questions

How does Deciml work?

Deciml rounds up your online transactions and invests the difference.

Say you order a sandwich for lunch and pay ₹249 for it via Gpay. Deciml automatically rounds up this transaction to the next multiple of 10 i.e. 250 and invests the difference of ₹1 in a fund of your choice.

You can choose to round up your online transactions to the nearest 10 or a multiple of 10.

How do I start investing?

You can set up Deciml and start investing in 2 simple steps:

Step 1: Account set-up :

Verify PAN and/or Aadhar
Add nominee details and bank details
And that’s it!

Step 2: Start auto-invest

Choose a UPI app to set up autopay with
Accept the autopay request received on said UPI app
And that’s it!

Your activation is complete and your automatic investments will start immediately. All investments thereafter will be debited every alternate day.

What is Daily Deposit?

With Deciml Daily Deposits, you can invest a small (or large) amount of your choice, every day automatically!

To set up Daily Deposit, simply tap on the ‘Invest More’ button on your dashboard and edit Daily Deposit. You can set it to as low as ₹10, and as high as ₹500.

P.S.: the ‘Invest More’ button only appears after you’ve completed activation!

How to invest more? / Ways to Invest in Deciml

There are 3 ways you can invest more with Deciml:

1. Round-up

By default, you are rounding up to ₹10 on Deciml. To increase this limit, just tap on the ‘Invest More’ button on your main dashboard and edit this value.
Not sure how this works? There’s an interactive round-up calculator to help with that

2. Daily Deposit

With Deciml Daily Deposit, you can invest an amount of your choice - everyday, automatically.
To set this up, simply tap on the ‘Invest More’ button on the dashboard and edit Daily Deposit. You can set it to as low as ₹10, and as high as ₹500.

3. Lump-sum

Stumbled upon some extra money? Invest it before you spend it!
You can make a one-time lump-sum investment of as little as ₹100 (and as large as you want) on Deciml, any time you want.

What is the dial on the main screen for?

You can play around with that big dial on your main app screen! (It’s called Sprint.)

If you’ve completed activation and started investing:

The amount you see inside the dial is your investment on Deciml so far. Just drag the dot on the dial to see how much that investment can grow in up to 10 years, if you continue investing at the same rate.

If you’re yet to complete activation (we really think you should):

The amount you see inside the dial is your to-be 1st investment on Deciml. Drag the dot to see how much this amount can grow in up to 10 years at the current investment rate.

Can I make a lump-sum investment?

Absolutely!

Just tap on the ‘Invest More’ button on your dashboard → tap on ‘Lump-Sum’ → select or enter the amount you wish to invest (Min. investment amount: ₹100, Max. investment amount: as much as you want!).

Can I use Deciml as a payment app?

Deciml is an investment app, and not a payment gateway.

You can continue using your preferred payment apps and gateways, and Deciml will automatically round-up and invest your digital spare change!

Where is my money invested?

You can choose from the following to invest and grow your money in:

1. Lendbox (Keep It Steady)

Lendbox is a secure platform that diversifies investments across verified creditworthy borrowers.
Investing in Lendbox can earn you up to 10% returns per annum.

2. Navi Equity Hybrid Fund - Growth (Balance It Out)

Regular Mutual Fund with a lower expense ratio thereby offering higher returns. This fund has shown 15.88% growth over the past 3 years as on 24th June 2023.

3. Navi Large & Mid Cap Equity Fund - Growth (Take A Leap)

Regular Mutual Fund that invests in multiple established industry leaders.This fund has shown 25.44% growth over the past 3 years as on 24th June 2023
Whichever fund you choose - you can invest as little as ₹10, and withdraw anytime without charge.

How does the rounding up work?

You make an online spend → you receive a transaction SMS → Deciml instantly picks up this exact spent amount → automatically rounds up the amount to the nearest 10 → the spare change gets invested in a fund of your choice!

Example: Say you ordered groceries online → paid ₹430 for it via your UPI app → received a ₹430 spend confirmation SMS from your bank → Deciml picks up this spent amount → we automatically round up to the nearest 10, which is 440 in this case → the spare change amount of ₹10 gets invested!

You keep spending like you would, Deciml takes care of everything investing 🙂

Can I pause my investments?

You can pause your Deciml account any time you want (although we recommend you don’t, and instead keep growing your money!)

If you still wish to pause, tap on the menu icon in the top right corner of your Deciml dashboard → tap on ‘Settings’ → tap on ‘Pause Account’.

Please note that any in-progress investments will still be completed, even if you pause your account.

What does it mean if I deactivate my account?

Deactivating your account means you lose complete access to Deciml. Deactivating will:

1. Pause your autopay and stop all investments at once.
2. Opt you out of all communication from us.

If for any reason your investments need a break, we suggest that you simply pause your account instead of deactivating.

Please note that pausing or deactivating will not cancel any in-progress investments.

Where does my money get invested?

You can choose from the following to invest and grow your money in:

Lendbox (Keep It Steady)

Lendbox is a secure platform that diversifies investments across verified creditworthy borrowers.
Investing in Lendbox can earn you up to 10% returns per annum.

Navi Equity Hybrid Fund - Growth (Balance It Out)

Regular Mutual Fund with a lower expense ratio thereby offering higher returns. This fund has shown 15.88% growth over the past 3 years as on 24th June 2023.

Navi Large & Mid Cap Equity Fund - Growth (Take A Leap)

Regular Mutual Fund that invests in multiple established industry leaders.This fund has shown 25.44% growth over the past 3 years as on 24th June 2023
Whichever fund you choose - you can invest as little as ₹10, and withdraw anytime without charge.

What is a Mutual Fund?

You know how you and your friends share OTT subscriptions - no one individually has to pay for all, yet everyone gets to enjoy each channel? Mutual Funds are kinda like that.

You and many many other individuals pool their money, and the final big chunk is invested across various assets by the mutual fund manager. The returns too are split accordingly.

With Deciml, you can choose from 2 Mutual Fund options to invest in:

Option 01: Navi Large Cap Equity Fund - Growth
Option 02: Navi Equity Hybrid Fund - Growth

Can I invest in more than 1 fund at a time?

You can invest in only 1 fund at a time on Deciml.

However, you can switch your preferred fund any time you want and your investments in every fund will be secure and available to withdraw anytime.

How and when can I change my preferred fund?

You can change your preferred fund anytime you want.

Just tap on the menu curtain on your dashboard → tap on ‘Investment Preference’ → choose the fund you wish to invest in.

Please note:

1. Your existing investment will not be automatically switched to your new fund preference. If you want to switch your current investments to your new fund, you can withdraw that amount and make a lump-sum investment in the new fund. Alternatively, you can let the money grow in the existing fund as is - it will be secure and available to you at all times.

2. Any in-progress investments will continue to be invested in your current fund of choice, the new fund choice will only be applicable to future investments.

3. When changing your preferred fund from a Mutual Fund to Lendbox, or vice versa - you will be required to reset your autopay (but it’s a super quick and easy step so don’t worry!). If you’re switching between the 2 Mutual Funds, no resetting will be required.

How are my returns calculated?

For Mutual Funds:

Returns are subject to the performance of your chosen fund as per market fluctuations, and get updated every business day.

For Lendbox:

Returns are calculated on the basis of up to 10% returns per annum.

What is the processing time for my investments?

NAV = Net Asset Value.

It is the price of a single Mutual Fund unit.

If your investment gets debited before 12 PM, you get allotted the same-day NAV. If not, you get the NAV for the next day.

If your investment gets debited on a weekend or a bank holiday, your investment gets allotted the NAV of the next working day.

What is NAV? How does it get allotted?

NAV = Net Asset Value.

It is the price of a single Mutual Fund unit.

If your investment gets debited before 12 PM, you get allotted the same-day NAV. If not, you get the NAV for the next day.

If your investment gets debited on a weekend or a bank holiday, your investment gets allotted the NAV of the next working day.

Are there any tax implications?

There are tax implications only upon withdrawal, but they are subject to your annual income.

Since this varies for each individual, we recommend that you consult your CA for an accurate calculation of your tax implication.

How to set up Deciml and start investing?

You can set up Deciml and start investing in 2 simple steps:

Step 1: Account set-up

Verify PAN and/or Aadhar
Add nominee details and bank details
And that’s it!


Step 2: Start auto-invest

Choose a UPI app to set up autopay with
Accept the autopay request received on said UPI app
And that’s it!

Your activation is complete and your automatic investments will start immediately. All investments thereafter will be debited every alternate day.

Why is PAN required for account setup?

Entering and verifying PAN and/or Aadhar ensures that your information is always secure and that your money is accessible to you and only you.

This process is also known as KYC (Know Your Customer) and has been mandated by SEBI to ensure the Indian investor’s security.

What to do if I don’t have PAN?

If you can't remember your PAN, you can also complete account setup with your Aadhaar. One of the two is required to complete setup.

If you don't have a PAN at all, you cannot start investing yet. PAN verification is mandated by SEBI in order to become an Indian investor.

Why is SMS permission important?

Deciml requests view-only SMS permission to be able to automatically pick up the exact transaction amount and round it up.

Only transaction SMS are viewed by Deciml, and no other text message is read.

Can I change my registered phone number?

Please contact us directly to know if and how you can change your registered phone number.

What is autopay and why do I need it?

Autopay is what helps you to auto-invest!

Imagine if we asked you to calculate, round up and tell us how much to invest on your behalf every single time you did an online transaction - investing wouldn't be quite as automatic and easy, right? That's why - autopay!

You can start auto-invest by simply entering your UPI ID and accepting the autopay request received on your UPI app.

How to set up autopay?

Choose the UPI ID you want to set up autopay with → approve the autopay request from Deciml → and that’s it!

Alternatively, you can also manually enter your UPI ID and then go to your UPI app to approve autopay.

Can I change my autopay UPI ID?

Yep. If you wish to change your autopay UPI ID on Deciml, or your autopay account (aka the bank account that is linked to Deciml for your automatic investments); here’s what to do:

1. Tap on the menu icon in the top right corner on your main screen.

2. Open ‘Settings’ → Tap on ‘Change autopay account’

3. Note that this will cancel your current autopay with Deciml, and your automatic investments will stop at once.

4. But not to worry! You’ll be redirected to the autopay setup screen immediately so that you can start auto-investing with your desired account/UPI ID 🙂

What happens if I change my bank account?

Changing your linked bank account requires you to follow the same steps as changing your linked UPI ID. Just refer to the steps detailed in the above answer.

Please feel free to contact us directly if you need further assistance.

Why is there a ₹200 on the autopay request?

₹200 on your autopay request is your investment limit on Deciml.

This means that if your investment amount per debit exceeds ₹200 - the above-limit amount will not be processed.You can change this limit any time you want if you’d like to invest more.

Rest assured - this is not a payment request.

Don’t see my UPI provider. How do I set up autopay?

If you cannot see your bank’s UPI ID, we suggest you try setting up with your PhonePe or Paytm IDs.

If you’d like to set up autopay with GooglePay but cannot see your GPay UPI ID, we suggest a small tweak:

1. Open your GooglePay app, and open your profile.

2. Tap on the bank symbol (or where it says ‘Bank Account’ there)

3. Tap on the bank account with which you want to set up autopay

4. Tap on ‘Manage UPI IDs’, tap to open the dropdown menu

5. Tap on th ‘+’ symbol next to @okaxis

6. Come back to Deciml and choose @okaxis from the dropdown on your autopay setup screen.

Adding @okaxis as a UPI provider is just like adding a new virtual address for your bank account. This does not change your linked bank account in any way.

What is the Autopay Limit and how can I change it?

Autopay Limit refers to the maximum investment amount that can be deducted from your linked account - per-debit.

For example: if your autopay limit is set to ₹200 and your total investment (roundups + daily deposits) at the time of debit is ₹212 - then the surplus amount of ₹12 will not be debited or processed.​ Rest assured - the ₹200 (which is within limit) will continue to be invested.

You can view any Uninvested Amounts under the Transactions tab.

You can change your Autopay Limit any time you want via Settings.

What’s the ‘Transactions’ tab?

The ‘Transactions’ tab is where you can track your investments & withdrawals.

Here’s what the different statuses mean:

Due on dd/mm:

Your Deciml investments are debited every alternate day. The ‘Due on’ card shows the next scheduled date of debit, & the amount next to it is the total to-be-debited amount.
This amount will keep including your roundups, until the time of debit.

Allocating Investment:

Once that total amount is debited, it takes the fund house 3 hours-3 business days (depending on your chosen fund) to allocate the investment to your name. During this time, the investment will show as ‘Allocating Investment’.

Completed:

After the total investment is debited and allocated successfully to your name, it’ll appear as ‘Completed’.
If you tap on this card, you can view a breakdown of that total investment.
To track any ongoing withdrawals, just tap on the ‘Withdrawals’ tab.

Which transactions get rounded up?

All of your online transactions get round-up invested with Deciml. This includes expenses made via:

Debit Cards
Credit Cards
UPI Apps
Digital Wallets
Netbanking transactions
And also, ATM withdrawals

Do transactions from all my bank accounts get rounded up?

There are 2 parts to round-up investment:

1. The rounding up

Every online transaction of yours gets rounded up by Deciml - no matter which bank account of yours you’re spending from. If you receive a transaction confirmation SMS, rest assured - Deciml will round up that amount.

2. The investment

The actual debit and investment of the spare change amounts will only happen from the back account with which you have set up your UPI autopay.

WITHDRAWAL

1. Is there a withdrawal charge?

You can withdraw your money any time you want, without charge!

2. When can I withdraw my money? Is there a lock-in period?

No lock-in period, no withdrawal charges. Your money is available for you to withdraw any time you want, without charge.

3. Is there a minimum withdrawal limit?

Yes, you have to withdraw a minimum of ₹10.

4. How long does the withdrawal process take?

For Mutual Funds:
It takes 4-5 business days for the withdrawn amount to reflect in your linked account.

For Lendbox:
It takes 2-3 business days for the withdrawn amount to reflect in your linked bank account.

*Business days = any day from Monday to Friday, except bank holidays.

5. Can I withdraw to a different bank account?

For the benefit of your security, we only allow withdrawal to the linked bank account.

Is my data shared anywhere?

The only data we collect is as mandated by SEBI and/or AMFI for the benefit of your security. It is shared only with the investment fund house, to ensure that all investments you make are allocated to your name and your money remains yours and only yours.

We do not disclose your data to any other third party.

How is my money and data kept safe?

Your money and data are protected with 256-bit bank-grade data encryption technology. This is the encryption technology deployed by most financial institutions and guarantees complete data security - you can bank on that 🙂

Furthermore, we are a SEBI regulated entity. Therefore, the only data we collect is as mandated by these bodies, and is not disclosed anywhere else.

×