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KYC Guide for Mutual Fund Investments

Nikhila Sastry

3 May 2023



KYC for mutual funds is like an initial introduction to someone new. It's a way of introducing yourself as an investor, and it's essential to complete this process to begin investing. The process is completely free of charge, and if you encounter any issues, you can always reach out to our support team for assistance.

In case you're struggling at any step of the KYC process, contact us at

Why is KYC required for investing?

The KYC process has been made a mandatory requirement in order to ensure that investments are not compromised by fraudulent activities or money laundering schemes. It is a formal introduction between fund houses and you to ensure

Once your PAN is verified, the financial institution can check if you have defaulted on any payments in the past.

What are the documents required?

Keep the following documents handy before starting your KYC process.

  • PAN Card

  • Address Proof (Passport, Drivers Licence etc.)

  • Cancelled Cheque Copy

What is the detailed step-by-step process?

We have divided the steps involved into three simple steps for following along.

Install the MoneyPlanned app and go to the profile section where you can click on Verify to get started, follow along and let's get this started. Step #1: PAN Verification & Personal Details

a: Click on 'Verify' and proceed.

b: Enter your PAN Number and Aadhar Card Number as prompted on the screen. c: Verify OTP sent to the number linked to Aadhar.

d: Confirm your name as mentioned on your PAN card. Tap on 'Submit'

e: Enter your personal as mentioned on your Aadhar & PAN Card. Name Gender Date of Birth EMail Mobile Number Marital Status Occupation Source of Income Father's / Spouse's Name Mother's Name Gross Annual Income Tap on 'Next' to continue. Step #2: Residential Details

a: Country of Birth and Country of Citizenship b: Enter Full Address c: Enter Pincode d: Check the declarations and click on 'Next'

Step #3: Add your bank account details

a: Enter your Bank account number b: Enter the 'IFSC code' of the Branch and Nominee Details. Tap on 'Next'. Step #4: Upload Documents

a: Upload a clear picture of the following. Make sure all the details are clearly visible in the picture. Take the picture in a well-lit environment.

'Address Proof' such as Passport, Aadhar Card or Voter ID. PAN Card Signature (Clear picture of your signature on a paper) Photo (Take a picture of yourself against a plain BG using the front camera) Cancelled Cheque Verification Video (Record yourself reading out the unique code on the KYC screen) Geo location Tap on 'Finish' once all the documents have been uploaded. b: Complete the E-sign verification process

Once done, your KYC documents will be sent for verification. The status of your KYC verification will be updated within 24 to 48 hours.

Frequently Asked Questions

Is my data safe with MoneyPlanned?

Your personal and confidential information is secure on MoneyPlanned and we do NOT store any of your details shared during the KYC.

Why do you need my PAN and Aadhar card details?

I am already investing in Mutual Funds. Do I need to do KYC verification again?

My KYC is pending although all documents are submitted. What to do?

I don't have a PAN card, can I still invest in mutual funds?

Why should I record a verification video?

What should I do during the KYC verification video?

My KYC got rejected. What should I do?

Can I re-apply if my KYC gets rejected?

I am stuck in the middle. What do I do?


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