If you also want to invest in mutual funds, then you can open your bank account or de-mat account. Saving in mutual funds can also be started in mutual funds with an investment of only 500 rupees a month, although it includes the risk related to the market. In such a situation, to invest in mutual funds, how to complete KYC at home, this is the step by step process in this way.
Some mutual fund companies have tied up with Indian Posts to complete their customers’ KYC. It also includes one of the largest mutual funds in the country.
How will the system work?
Under this partnership, Indian post will provide door to door verification facility to customers. One of its objectives is to make more and more people aware to invest in mutual funds. The Ministry of Communications of the government has recently announced this partnership. The reach of India Post is currently in remote areas of the country. In such a situation, India Post handles KYC on a very large scale.
What is KYC?
SEBI regulates the Capital Market under the Prevention of Money Laundering Act 2002. It is through KYC that SEBI approaches the mutual funds and information about those investing in it. KYC means ‘know your customer’, in this, many documents related to the customer like Aadhaar card, PAN card and their full address etc. are verified. If a customer wants to invest in mutual funds, then it is necessary to do KYC.
This is how KYC will be completed sitting at home
It is the responsibility of the Mutual Fund House to complete the KYC of investors sitting at home. However, the customer has to apply for this. For this, door to door facility has to be provided. This facility can be especially beneficial 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 for financial inclusion. This door 2 KYC service of India Post can take advantage of the people living in rural and remote areas. Through this, she can take advantage of it by investing in mutual fund market.
Step by step process
- To take advantage of this facility, you have to register.
- This can be done on the site of KYC app or mutual fund company.
- In this, you have to fill the information of your details like name, address, citizenship, PAN number, Aadhaar number, email ID etc.
- Self-atasted 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 house.