All you need to know about eKYCComments Share
What is Aadhaar based e-KYC?
Aadhaar based e-KYC is an online KYC registration service provided for first time investors to mutual funds to become KYC complied using their Aadhaar number. This is an electronic service and is completely paperless.
Who can make use of the Aadhaar based e-KYC service?
This service is available to all first time investors to mutual funds who are not KYC complied and have a valid Aadhaar number.
What are the steps involved in becoming KYC complied through Aadhaar?
Step 1: Enter Basic Profile details
Step 2: Enter PAN, Aadhaar number, Date of Birth, valid e-Mail ID and Mobile number (Should be the same as the one mentioned on your Aadhaar card).
Step 3: Click on the checkbox to generate OTP and enter the OTP received on your mobile number in the particular field and click on Next.
Step 4: Verify your details and submit the form.
Do I need to submit the physical copy of KYC application or proof of Aadhaar card?
No, this is a completely paperless platform and everything will be done electronically.
Do I need to do in person verification (IPV)?
No, Aadhaar based e-KYC does not require any in person verification.
Is there any limit to the amount of investments I can make if I do Aadhaar based e-KYC?
If you complete Aadhaar based e-KYC verification process using OTP, then only investments up to Rs. 50000/- per financial year will be permissible.
Who sends the OTP and how would I receive it?
OTP is sent by UIDAI to the mobile number that is availablein the UIDAI database and registered with the Aadhaar number.
What should I do if I haven’t received my OTP?
You can regenerate OTP by using the Resend OTP option.
What if my mobile number is different from the mobile number registered on UIDAI ?
If your mobile number registered with UIDAI differs from your existing mobile number then you will have to update your mobile number with UIDAI first.