Mutual Fund: Mutual fund KYC can be completed from home, know the step-by-step process here..

If you also want to invest in mutual funds, you can do so by opening your bank account or demat account. Savings in mutual funds can be started by investing just Rs 500 per month, although it involves market risk. In such a situation, how can you complete KYC from home to invest in mutual funds, its step-by-step process is as follows.

Some mutual fund companies have tied up with India Post to complete the KYC of their customers. This also includes Nippon India, one of the largest mutual funds in the country.

How will the system work?

Under this partnership, India Post will provide door to door verification facility to the customers. One of its objectives is to make more and more people aware of investing in mutual funds. The Ministry of Communications of the Government has recently announced this partnership. India Post currently has a reach in the remote areas of the country as well. In such a situation, India Post handles KYC on a very large scale.

What is KYC?

Under the Prevention of Money Laundering Act 2002, SEBI regulates the capital market. It is through KYC that SEBI gets information about mutual funds and those who invest in it. KYC means 'Know Your Customer', in this many documents related to the customer such as an Aadhaar card, PAN card, and complete address, etc. are verified. If a customer wants to invest in a mutual fund, then KYC is necessary.

This is how KYC will be completed sitting at home.

The responsibility of completing the KYC of investors sitting at home lies with the mutual fund house. However, the customer has to apply for this. For this, door to door facility has to be provided. This facility can be very beneficial, especially for the elderly.

The Ministry of Communications says that this can help in increasing the investment of common people in the country. This can be very important in terms of financial inclusion. People living in rural and remote areas can take advantage of this door-to-door KYC service of India Post. Through this, they can take advantage of investing in the mutual fund market.

Step-by-step process

To take advantage of this facility, you have to register.
This KYC can be done on the app or the site of the mutual fund company.
In this, you have to fill in your details like name, address, citizenship, PAN number, Aadhaar number, email ID, etc.

Self-attested copies of documents have to be submitted along with the form.
After this, KYC is completed by sending an agent or government official to your home.

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