What are the KYC requirements for a Mutual Fund Investor?

Individual investors will have to produce his Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license etc.) and Proof of Address (any valid documents listed in section B of the KYC Application Form for Individuals). Non-Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the KYC process. A list of Mandatory Certified Documents to be submitted can be found in section C of the KYC application form for Non-Individual Investors.

What about Minor becoming Major?

Upon a Minor attaining the age of majority (i.e. on completing 18 years of age), he/she must be KYC Compliant and have KYC Acknowledgement of their own. The same should be informed to the Mutual Fund where he/she holds an investment, along with other details such as the Bank Details, Signature, etc as per the present requirements of such Mutual Fund.

Yes PAN CARD is mandatory for all Mutual Fund Investments. However, only KYC is required for MICRO SIPs (where annual investment commitment is not greater than Rs. 50000).

If you are a resident individual, you can certainly avail Fixed Deposit schemes, irrespective of your age. Hindu Undivided Family, private or public limited companies, societies and partnership firms are also eligible to invest in an FD.

While the minimum tenure of a Fixed Deposit is 1 year, the maximum tenure can go up to 10 years.

Yes. If you need funds urgently, you can avail premature withdrawal of your Fixed Deposit.

The interest you receive on your Fixed Deposit amount is taxable. However, you can submit Form 15G to the bank to avoid tax deduction.

The interest you receive on your Fixed Deposit amount is taxable. However, you can submit Form 15G to the bank to avoid tax deduction.

The interest you receive on your Fixed Deposit amount is taxable. However, you can submit Form 15G to the bank to avoid tax deduction.