Mutual Fund News / Mutual fund KYC can be completed from home, this is the step by step process

Mutual Fund News: If you are also planning to invest in mutual funds, then there is a good news for you. Now you can start investing in mutual funds without going to the bank or opening a demat account. With a small investment of only ₹ 500 per month, you can increase your savings towards big returns. However, it is important to note that mutual funds are market-linked investments and involve risk.

Now the question arises that how to invest in mutual funds sitting at home? Its first and important step is to complete the process of KYC (Know Your Customer). Let us know how you can do this work without leaving the house.

What is KYC and why is it necessary?

KYC i.e. 'Know Your Customer' is a necessary process, which has been implemented under the Prevention of Money Laundering Act 2002. Under this, the identity of mutual fund investors and other necessary documents like Aadhar card, PAN card and address etc. are verified. This process prescribed by SEBI is necessary for all investors.

Unique initiative of India Post and mutual fund companies

To make mutual fund investment easier in rural and remote areas of the country, some mutual fund companies have partnered with India Post. Big names like Nippon India Mutual Fund are also included in this initiative.

Under this partnership, India Post employees reach the homes of investors and complete their KYC verification. This facility is especially beneficial for the elderly and people living in villages, who are unable to reach the bank or city branch.

Process to complete KYC from home – Step by step guide

Register:

Register yourself through the mutual fund company's website or KYC app.

Fill in your details:

Fill in details like name, address, citizenship, PAN number, Aadhaar number, mobile and email ID in the form.

Upload documents:

Upload self-attested copy of Aadhaar and PAN card.

Door-to-door verification:

After your information is submitted, an India Post agent will come to your home and verify the KYC.

KYC complete and investment started:

As soon as the verification is complete, your KYC process will be considered complete and you can start investing in mutual funds.

What are the benefits?

• Convenience at home: No need to visit the bank or agency.
• Blessing for rural areas: Where internet and banking services are limited.
• Useful for the elderly: The facility of physical verification is a big relief for the elderly.