How to do video KYC for mutual fund investments

New investors are required to complete their KYC process before making investments.

Once completed, it is valid for investments across fund houses. Investors have the choice to complete the process through E-KYC.

KYC information
To initiate the process, the investor must visit the fund website and click on the PAN based video KYC option. A KYC form is then displayed which needs to be filled. Next, an OTP is sent to the registered mobile number. On entering the OTP, the video KYC process is activated.

Upload documents
KYC documents like scanned images of the PAN and address proof need to be uploaded. After each document upload, information in the documents is captured through a character recognition software. However, one can make necessary changes/edits to the pre-filled information.

Declaration page
After uploading the documents, the investor is taken to a FATCA and CRS declaration page where necessary details need to be filled. A passport size photo and a scanned image of the investor’s signature must be uploaded here

Video based verification
Next is video verification process where the investor needs to keep handy original copies of the uploaded documents for verification. Once prompted these documents should be displayed in front of the computer camera and the OTP displayed on the screen should be read aloud. Once this process is completed, the video is uploaded and the investor is directed to a page where he can review the submitted information. Upon verification, one can click on the submit button. An acknowledgement number is provided.

Folio creation
The investor can now create a folio by submitting information such as bank and nomination details. After submitting the details, the investor can verify and submit to complete the process.

Points to note

• Folio number is generated only once the KYC application is approved.
• While uploading scanned images, one should make sure that the scanned image is legible.

(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)

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