Investment in mutual fund is gaining popularity day by day. Investors often get good amount of return by spending money in mutual funds. But, there are some rules you have to obey if you want to make an investment in the process. KYC is necessary in mutual funds. To make your investment secure, investors have to update their KYC and check the current status as well. How to check KYC or update mutual fund KYC? Easy steps to do the tasks.
How to check KYC status online:
Open the website of your AMC (Asset Management Company) or RTA (Registrar & Transfer Agent) .
Click on “ Check KYC Status ” link.
Enter your 10 digit PAN number and captcha.
Your KYC status will appear on the screen: Validated, Registered, Hold or Reject .
KYC statuses and their meaning
KYC validated-
No action is to be taken if the status is valid.
You can invest in any mutual fund.
KYC registered-
Transactions possible in existing investments.
KYC update is necessary for investing in new funds.
Update or modification can be done through PAN and Aadhaar (XML, DigiLocker or m-Aadhaar).
KYC hold or reject-
Reason: Mobile number or email verification not done, PAN and Aadhaar not linked, or error in the document.
Follow the steps mentioned on the website of the respective mutual fund.
Investment can be started once the status is registered or validated.
Easy way to update KYC:
Visit the website of AMFI (Association of Mutual Funds in India) .
Access eKYC modification page of 43 AMCs like HDFC, ICICI Prudential, Kotak Mahindra, Mirae Asset Mutual Fund .
Correct or update your KYC information from there .
Checking and timely updating your KYC status is essential for mutual fund investing. This ensures a safe and smooth investment process.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.