Do you know that KYC is mandatory for investments in financial markets and even for opening a Bank account?
KYC , Know Your Customer is a process for financial institutions to establish identity of their customers. KYC is mandatory for opening a bank account or for investments in Mutual Funds (Micro SIPS and low balance accounts are exempt)
For KYC – An Identity proof and a Residence proof is required.
First time investor in Mutual Fund needs to fill the CKYC (Central Know Your Customer) form before investing in mutual fund. Along with the form, she/he has to submit a self-attested copy of the PAN card and address proof, such as passport /Aadhaar card/Election I Card. Once the form is processed by the registrar, a 14-digit KYC Identification Number (KIN) will be issued by CKYCR, which can be used to invest in all financial products including mutual funds.
How can CKYC be done?
Along with the CKYC form, photocopies of documents have to be physically verified and attested, and an in-person verification of the investor has to be done. This can be done by an authorized Mutual Fund distributor.
If you are keen to invest in Mutual funds but don’t have KYC call me on 9999 321 868 and I will help process your KYC application.