KYC Linked To Mutual Funds: How to check your mutual fund’s KYC status and update it? Know the process

KYC Linked To Mutual Funds: Investing in mutual funds has become a very popular option for investors these days. However, before starting an investment, it’s crucial to have your KYC (Know Your Customer) verified so you can easily invest or transact in your mutual fund. Incorrect KYC status can cause problems during the investment process. Therefore, it’s important to know how to check your mutual fund’s KYC status and update it if necessary.

How to check KYC status?

To check the KYC status of your mutual fund, go to the AMC (Asset Management Company) or RTA (Registrar and Transfer Agent) platform where you invest and click on the “Check KYC Status” link. Then, enter your 10-digit PAN number and complete the captcha. Within a few moments, your KYC status will appear on the screen as either Validated, Registered, Hold, or Rejected.

Different levels of KYC status

KYC Validated : This means your KYC is complete and correct. You can make new investments or transact on existing investments without any issues.

KYC Registered : In this situation, you can continue investing in your old investments, but investing in new funds will require updating your KYC. You can do this by using your PAN and Aadhaar.

KYC Hold or Rejected : This means that the mobile number or email verification is incomplete, or your PAN and Aadhaar are not linked. In this case, you will need to make the necessary corrections by following the steps listed on your AMC or RTA’s website.

How to update KYC?

To update your KYC, you can visit the eKYC modification page of 43 AMCs available on the AMFI website. For example, major fund management companies like HDFC, ICICI Prudential, Kotak Mahindra, and Mirae Asset offer this feature. From here, you can update or correct your KYC documents to validate your KYC and ensure a smooth investment process.

Up-to-date and accurate KYC is essential for investing in mutual funds. Investors benefit from periodically checking their KYC status and updating it as needed. With the availability of digital platforms, this process has become much easier to do from the comfort of your home. Therefore, ensure your KYC is accurate and complete to ensure your investments are safe and sound.