KYC, short for "Know Your Client," is a process used by financial entities and intermediaries such as mutual funds to verify the identities of their clients.
KYC, short for "Know Your Client," is a process used by financial entities and intermediaries such as mutual funds to verify the identities of their clients.
Yes, KYC (Know Your Customer) is mandatory for investing in mutual funds in India. It is a regulatory requirement set by SEBI to verify the identity and address of investors, ensuring transparency and preventing fraud. Investors must complete the KYC process before making any mutual fund investments.
The TAT for Video KYC verification is 1-3 days, though some service providers may process it faster depending on their operational efficiency.
For an individual, identity proof (Voter ID, PAN Card, Driver's License, Passport), address proof (Utility bill) and colored photographs are required. For a non-individual, legal status of the entity & authorized signatories are required.
You can upgrade your EKYC by undergoing the 'Video KYC' process available in the Profile section.
No, KYC is done free of cost.
When any KYC form lacks the required/mandatory information, then its further procedure gets cancelled.
NRI investors need to submit certain documents physically to complete KYC formalities.
Documents required:
Change about the name/address/status/signature must be intimated to the authorized PoS. The desired changes to your documents will be done after 10-15 days of your intimation. You need to give a verified PAN card copy in case of name/address change.
KYC application form is a mandatory document, which has to be filled before you want to invest in the mutual fund. These forms are available on the website of mutual funds. You must read all the important instructions mentioned on the form.
KYC Validated
Make any mutual fund transaction anytime without hassle.
KYC Registered
Continue transacting in existing funds. To invest in new ones, complete the KYC update using PAN and Aadhaar. Once validated, you can invest freely.
Link for KYC Validation: KYC Modification
KYC forms are mandatory nowadays, for all the mutual funds applicant. So if you are acknowledged about KYC form, then fill & submit it as soon as possible to avoid any inconvenience.
Once you've finished the video KYC verification, there's no requirement to send any documents in physical form.
Once KYC is validated, it’s a one-time process, allowing you to transact in any mutual fund without any further steps.
Yes, you need to. Every time you have increase/decrease in the income status inform the PoS and get it changed in your KYC application form. No proof is required for the same.
Dear Investor,
To finish your Video KYC on the MySIPonline app, follow these steps:
You can refer to the video regarding the process: Video KYC
