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eKYC for Mutual Funds

eKYC in MFs




The Securities and Exchange Board of India (Sebi) has issued guidelines under The Prevention of Money Laundering Act, 2002 (PMLA) which requires investors to be KYC (Know Your Customer) compliant before investing in mutual funds. Completing KYC for investors was a major hurdle for distributors to get investors on board. To solve this problem, Sebi has launched eKYC in mutual funds.

What is eKYC in MFs?


eKYC is a paper less Aadhaar based process for fulfilling KYC requirement to start investing in mutual funds (MFs).

This has been implemented after Sebi recently allowed Aadhaar based KYC to be used for MF investments, for the convenience of investors. Karvy and CAMS on have facilitated eKYC for investors in MFs.

How does eKYC work and what are the benefits?


The regular KYC process re quires submission of KYC form with investor signature and additional documents for ID and address proof. IPV and sighting the original documents needs to be completed by a competent person. eKYC completely eliminates paper work and IPV to complete the KYC process. CAMS Karvy as a KYC User Agency (KUA) is approved by UIDAI to accept investor's Aadhaar number and complete KYC verification with one time password (OTP).

What does an investor need to get this process initiated?


Investor can visit the website of CAMS or Karvy . He needs Aadhaar number, PAN number and personal details such as mobile number and email-id. Mobile number is mandatory . He can authenticate himself by receiving OTP on mobile number.

What is the maximum amount of transaction one can make through OTP-based eKYC?


Sebi, the regulatory body, has provided guidance to restrict investments to `50,000 per annum per MF for OTP-based eKYC.However, in case of more investment, the investor needs to do IPV or biometric-based authentication. That can be done through a distributor, or at any office of CAMS / Karvy










Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich

Top 10 Tax Saver Mutual Funds for 2017 - 2018

Best 10 ELSS Mutual Funds to Invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Tata India Tax Savings Fund 

3. Birla Sun Life Tax Relief 96

4. ICICI Prudential Long Term Equity Fund

5. Invesco India Tax Plan

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Sundaram Diversified Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


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