Mutual Fund KYC Process

Here is the video that explains about KYC process to invest in Mutual Funds:

Video Transcript:

Sharmila : I would love to grow my wealth by investing in Mutual funds. I met my investment advisor with a request to suggest the best fund for me to invest.

Nirmal : The first step to start investing in MF is to complete the KYC process

Sharmila: What is KYC and why is it required?

Nirmal: KYC is mandatory for investing into Mutual Funds. Mutual Funds have to complete due diligence of their investors through the KYC process. The process includes verification of identity-address-financial status and other demographic information. The KYC is a norm mandated by the SEBI.

Sharmila: How does one complete KYC?

Nirmal: There are two ways to complete KYC.
You can download the KYC application form, from the website of any KYC Registration Agency (KRA) like CAMSKRA, or or  from the Mutual Fund websites. You have to submit the completed form along with 1ID and 1 address proof

  • Passport/
  • Ration Card/
  • Registered Lease or
  • Sale Agreement of Residence/
  • Driving License/Voter ID/
  • Latest Bank Statement or Passbook – along with one passport size color photo duly signed on it.

Sharmila : What happens after these submissions?

Nirmal: The documents that you submit are verified against the originals and an in person verification is completed. Once this is done your records are submitted to KRA. Bingo – You can go ahead and start building your wealth.

Sharmila:  You said there are two ways, what’s the other way?

Nirmal: The other way is even more convenient. This is a recent facility introduced by CAMS , where you can use your  AADHAR to complete KYC.  This super convenient facility is called eKYC. You can do this by visiting or visit any one of our service centers.
No forms, No proofs No documents.

Sharmila:  Sounds good. So, when can I start investing after eKYC?

Nirmal:  Immediately.. Hard to believe? Your KYC is stored at the KRA for all your future transactions.

Sharmila: Are you saying that I need not repeat KYC if I choose to invest in another mutual fund?

Nirmal: Yes. You are correct. You do not have to repeat KYC.

Sharmila: What if I change my address? Do I have to separately notify all mutual funds on this?

Nirmal :No. You need to intimate only the KRA who in turn will update all your mutual fund accounts.

Sharmila: Wow. I never thought  that KYC process was so simple!


Published by

Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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