Mutual fund KYC status: 5 key things investors should know
KYC status rectified.A. Visit any mutual fund website or RTA's website.B.
Check for KYC status link.C. Enter your 10-digit PAND.
The KYC status will be displayed as Validated/ registered/ on hold/rejected.ALSO READ | Mutual Funds: How to check KYC status and what actions you might need to take? A step-by-step guideWhen the KYC is validated, the investor does not need to do anything at all. One can carry out transactions in any mutual fund anytime.This means you can continue to make transactions such as purchase, redemptions or switches or SIPs in your mutual fund investments without any hassle.ALSO READ | Magic of compounding: A monthly SIP of 10K in this mutual fund since inception would have grown to ₹1.76 croreIf you want to invest in a mutual fund where you don't have any investment already, you will have to do your KYC once again.
You can get your KYC status changed to KYC Validated by doing the KYC updated/ KYC modification process using PAN and aadhaar from XML, Digi-locker or m-aadhaar.The KYC status on the mutual fund/ RTA website is on-hold or rejected, it could be because the mobile or email ID are not validated/ PAN is not linked with aadhaar/ there is deficiency in the KYC documents.In such a case, you simply have to remediate the reason for KYC on-hold/ rejection by following the steps given on the mutual fund website.Once your KYC status changes to registered/ validated, you will be all set to start transacting, as per the KYC status. ALSO READ | Best mutual funds: 7 flexi cap schemes delivered over 45% return in past 1 yearMeanwhile, it is vital to note that the steps to resolve any KYC issues are easy and can be done from the home in a few minutes.
Read more on livemint.com
