In today’s era, investing in mutual funds has become a very popular option for investors. But before starting investment, it is most important that your KYC (Know Your Customer) be verified so that you can easily invest or transact in your mutual funds. If KYC status is not correct, then the investment process may cause problems. Therefore, it is important to know how to check the KYC status of your mutual funds and how to update it if needed.
How to check KYC status?
To check the KYC status of your mutual funds, you invest on the platform of AMC (Asset Management Company) or RTA (Registrar and Transfer Agent), go there and click on the link “Check Kyc Status”. After this, enter your 10 digit PAN number and complete the captcha. In a few moments, your KYC status will be seen on the screen in any of the case validated, registered, hold or reject.
KYC validated: This means your KYC is complete and correct. You can make new investment without any problem or transaction in old investment.
KYC registered: In this situation you can invest in old investment, but it will be necessary to update KYC for investment in new funds. For this, you can update KYC via PAN and Aadhaar.
KYC hold or reject: It does not complete the mobile number or email verification, or PAN and Aadhaar links. In such a situation, you have to follow the steps mentioned on your AMC or RTA website and make the necessary improvement.
How to update KYC?
For KYC update, you can visit the EKYC modification page of 43 AMC available on AMFI website. For example, big fund management components like HDFC, ICICI PRDENIL, Kotak Mahindra, Mirae Asset provide this facility. From here you can update or improve your KYC documents so that the KYC becomes valid and the investment process can run smoothly.
KYC updates and correct are mandatory for investment in mutual funds. It is beneficial for investors to check KYC status from time to time and update it as required. This process has now become very simple sitting at home due to easy options for digital platforms. So to make your investment safe and best, be sure to be right and complete of your KYC.