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About Acru

What is Acru?

Acru is a Financial Wellness mobile only platform. It is a one-of a kind Micro-Saving & Investment Account akin to the familiar Piggy Bank  / Gulak / Uṇṭiyal. It enables an user to open an investment account electronically for investments into mutual fund schemes of the leading Asset Management Companies (AMCs) registered with SEBI.

What does Acru mean?

Acru is short for “accrue”, which means to accumulate. The Piggy Bank / Gulak / Uṇṭiyal  is a simple way to accumulate small amounts which was and is still used by many as a means for accumulating their savings.  Acru is a Digital Piggy Bank in short.

Can I trust Acru ?

The money that you invest or redeem through the Acru platform are directly credited to the respective Mutual Fund Accounts and no money is routed through or credited into Acru’s bank accounts.  The AMCs confirm the receipt or payment of the money as well as the transaction through SMS and email attaching the Statement of Account (SOA) directly to the user.  The transaction details are also made available to the user on the app.

Is Acru free?

We charge a convenience fees of Re.1 per day (or INR 30 per month) to cover for some of the third-party costs which we incur to ensure that you are firmly entrenched on the Financial Wellness journey. Upon sign-up, this fee is waived off for 6 months

How do I start

Where can I download the App?

The App is currently available only for users who have smartphones working on the Android Operating System. Search for Acru on Google Playstore on your phone to download the app. Once your mobile number is verified & we get your name and email id, you are registered as a user on Acru. Read the displays and follow the instructions to step onto your Financial Wellness journey.

What documents do I need to register my investment account?

SEBI guidelines mandates that all investors into Mutual Fund Schemes are Know Your Customer (KYC) compliant. Acru has a completely automated, seamless, paperless & online process for collecting documents that are required for completing the KYC.  Briefly, these documents include PAN Card, Identify & Address proofs, Bank Details (Account No., IFSC code), scanned signature & cancelled bank cheque leaf.  The process will also include geo tagging, a video verification & uploading a photograph (selfie or digital copy). At each step, the App will guide the user to complete the documentation.

If you are first time investor, you will need to make a token investment or INR 100 to complete the process of KYC.

What does Risk Profile mean?

Your Risk Profile determines the extent of your risk-taking ability. Acru has simplified the Profile into 3 categories – Low, Medium, High. Each of the risk profiles are defined and a user can choose the risk level to suit his / her profile.  The Mutual Fund Schemes are mapped to these 3 categories of risks to enable the user to select the scheme which fit into his / her risk profile. A user can change his / her profile anytime and accordingly the mutual fund schemes matching the profile selected would be displayed to the user.

How do I set up my Piggy Bank?

Setting up the Piggy Bank is a simple process. Click on the Total Piggy Bank Balance Bar on the Home Page or the Piggy icon in the dock at the base of the App; Click then on Change Settings;

  • You can change the Mutual Fund Scheme you want your savings in the piggy bank are invested by clicking on Change Mutual Fund
    • Choose the Mutual Fund using the Filters and click on Set Default Fund at the bottom of your screen.
  • Once your Fund is selected, you choose the way you accumulate money in your piggy bank by selecting your preference – Fixed, Percentage or Both
    • Fixed – this allows you to accumulate periodically ( select frequency – daily, weekly, monthly) a defined amount (select amount – minimum INR 100 to maximum INR 1 lakh) and transfer the accumulated amount(select invest – any amount up to INR 1 lakh subject to the minimum investment amount defined by the Fund) to the Selected Fund
    • Percentage – this allows you to accumulate a defined percentage of your digital transaction (select percentage – 2%, 5% or 10% subject to a minimum of INR 25) and transfer the accumulated amount(select invest – any amount up to INR 1 lakh subject to the minimum investment amount defined by the Fund) to the Selected Fund
    • Both – this allows you to accumulate moneys in your piggy bank using both the Fixed and Percentage ways detailed above

Can I Invest more?

Yes, you can invest more. Click on the Make Additional Investment bar on your Home page or the Invest icon on the dock at the bottom of the app. Using the filters, select the Mutual Fund scheme you want to invest, and the app will facilitate your investment into the selected scheme.

Will I get notifications for investments?

You will get notifications when amounts are credited to your Piggy Bank as well as when the accumulated amounts are ready to be invested. Click on the link in the notification or open the app and click on the notification highlighted on the Total Piggy Bank balance bar on your Home Page to complete the investment.

Please ensure that the notification setting is un-checked in the Settings to enable you to receive these notifications.

Can I invest more in a scheme which I have already invested earlier?

Yes, you can invest into the scheme you have already invested earlier. Click on the Overall Portfolio bar on your Home screen and browse the investment you want to invest.  Click on Invest and you will be able to invest more into the same scheme under the same folio.

How can I redeem my investments?

You can redeem your investments anytime. Click on the Overall Portfolio bar on your Home screen and browse the investment you want to redeem.  Click on Redeem and you will be able to redeem either partially or all the units in the scheme.  The redemption request will be sent to the Scheme’s registered transferring agent (RTA) and the proceeds will be credited to your Bank Account which shared at the time of registration.  However, please note the time taken (T + n days; T= date of submitting the redemption request) for receiving the redemption proceeds are defined by the Scheme documentation and also basis the cut-off times defined for redemption requests defined by the AMCs.

What is Flexi SIP?

ACRU’s Flexi SIP allows user to save systematically and change the savings / investment plan as the goals or situations change.

SIPs offered by other platforms and Mutual Funds directly do not allow for change in any of the parameters (Scheme, Amount, Tenor, Day/Date).  Any change requires the user to cancel the SIP and set-up a new one.

The flexibility to change (without cancelling) the Fund/Scheme, the SIP Tenor, the Day / Date of SIP, the Amount and to Stop or Re-start the SIP whenever the user desires  is unique and available only on the ACRU platform

How do I set-up a Flexi SIP?

Setting up the Flexi SIP is a very simple.

  • Click on Save icon in the bottom dock on the Home page.
  • Click then on Flexi SIP in the next page.
  • Click on “Setup a Flexi SIP”
  • Select Fund on which you want to set-up the Flexi SIP
  • Select the Frequency and the Amount and click on “Setup SIP”. Your Flexi SIP is set-up.

How do I change any of the parameters or stop a Flexi SIP which is already set-up?

Go the Flexi SIP page.  All the Flexi SIPs set-up by you will be displayed.

  • If you want to change the parameters Click on “Reset” on the Flexi SIP that you want to change.  It will take you to the same screen as when you click “Setup a Flexi SIP”.  Make the changes, click on “Setup SIP” and your changes will be implemented from the next SIP date.
  • If you want to stop a Flexi SIP, click on “Stop Flexi SIP” on the Flexi SIP that you want to stop.  Confirm your action and that Flexi SIP will be stopped.

What is the Piggy Bank?

Piggy Bank on ACRU is a virtual account where your loose change of your digital spends are accumulated

Each time you execute a financial transaction digitally through your mobile which could be a payment for a purchase (online or offline), a utility payment or a remittance, ACRU accumulates the “loose change” to your virtual account based on a pre-defined (defined by you) Round-off Principle;

You define the rounding-off algorithm – which could be 2%, 5% or 10% of the transaction value or a minimum deposit either daily or weekly or monthly starting from INR 100 or the round-up amount to the nearest next hundred.

For e.g. If you pay a vendor bill value of INR 447, round-off algorithm will allocate, say 10% of the payment i.e. INR 45 to your Virtual Account.

You also define the minimum investment amount of either INR 100, 500, 1000 or 3000; as and when the Virtual Account accumulates a balance of this defined minimum investment amount, ACRU automatically transfers the amount to your predefined Mutual Fund using the Unified Payment Interface App (UPI App – either BHIM, PhonePe, etc.) installed on your phone.

Security & Privacy

Does Acru share my details with others?

No, Acru does not share the personal details with others excepting with KYC Registering Agents , AMCs & their Registered Transfer Agents (RTAs) for the purposes of executing your investment or redemption transactions.

Why does Acru access my SMS notifications?

Acru accesses only your financial SMS notifications to facilitate accumulation of moneys in your Piggy Bank and understand your transaction pattern so that we could suggest MF options in future.

Why does acru show foreground service on the screen all the time?

Acru has to be running as a foreground service to enable it to access your digital transactions and facilitate accumulation of money in your piggybank.