I want to know the documents required to start investing in mutual funds. How does KYC process work?Asked
Groww being an online platform enabling investors to invest in mutual funds schemes, empowers investors to upload digital/ scanned copies of the required documents to complete the KYC process and start investing.
Know Your Customer (KYC) norms track the legality of funds used in an investment. KYC is a one-time process which every first-time mutual fund investor needs to follow, to be able to invest in a mutual fund.
Proofs required to be KYC compliant-
Non-residents need to submit a copy of their passport and permanent and overseas address along with a copy of their PAN card.
Proper documents along with their photocopy needs to be verified and submitted in order to invest in mutual funds. An investor needs to ensure that his KYC (Know Your Customer) compliance in order to start investing.
Following documents are needed:
· Application Form needs to be filled wherein basic details along with the amount to be invested, SIP amount, nomination details needs to be filled.
· KYC needs to be done which is a mandate. Also a photograph needs to be given along with KYC.
· Proof of Identity: Following documents can be given-
2. Voter Card
3. Pan Card
· Proof of Address: Following documents can be given-
2. Voter Card
3. Driving License
· Net Banking is done, so no cheques needed
Groww is an online platform that enables investors to invest in mutual fund schemes. Since it is an online platform, scanned or digital copies of the documents need to be uploaded before you start investing.
All customers intending to invest in mutual funds need to be KYC compliants. Individual investors need to produce their proof of identity and proof of address.
Documents acceptable as proof of identity:
Documents acceptable as proof of address:
They need to submit in addition to PAN, a certified true copy of their passport as well as proof of overseas address and permanent address. The documents need to be converted in English, if in any other language.