What are the documents required to start investing in mutual funds on Groww?

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-

Identity proof

• PAN card along with latest (preferable) photograph. This document in compulsory in most scenarios.
• Any one among Passport, Aadhar card, Driving license, Voter ID.

Address proof

• Unique Identification Number (Aadhaar)
• Passport
• Driving License
• Ration Card
• Voters Identity Card
• Utility bills like Gas bill, Telephone bill (only landline) or Electricity bill, maximum 3 months old
• Bank Account Statement/Passbook maximum 3 months old

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-

1.   Aadhaar

2.   Voter Card

3.   Pan Card

4.   Passport

·     Proof of Address: Following documents can be given-

1.   Aadhaar

2.   Voter Card

3.   Driving License

4.   Passport

·     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.

Resident Indians

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:

• PAN card with photograph. This is a compulsory document except for those who are specifically exempt from having a PAN
• Unique Identification Number (Aadhaar)/Passport /Driving license/Voter-ID Card

Documents acceptable as proof of address:

• Unique Identification Number (Aadhaar)
• Passport
• Driving License
• Ration Card
• Voters Identity Card
• Registered Lease/Sale Agreement of Residence
• Flat Maintenance bill
• Utility bills like Gas bill, Telephone bill (only landline) or Electricity bill, maximum 3 months old
• Insurance Copy
• Bank Account Statement/Passbook maximum 3 months old

Non-Resident Indians

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.