Tata Mutual Funds Launched Video KYC – How does it work?
Tata Mutual Funds has launched Video KYC to invest in mutual funds on their website. Till now if investors want to invest in mutual funds on AMC websites, they can do it with full KYC if the amount of investment exceeded Rs 50,000. With this Video KYC, this process is simplified. How to do Video KYC to invest in Tata Mutual Fund Schemes? What documents are required while doing Video KYC on Tata Mutual Funds Website?
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Why there is need for Full KYC?
As per SEBI guidelines, an investor can invest in mutual funds without KYC upto Rs 50,000. Beyond this, investors need to do full KYC. Investors are supposed to visit the branch or person has come in-person through Video KYC. There was a need for simplified option to do full KYC.
Tata Mutual Funds Launches Video KYC
Owing to limitation indicated above, TATA mutual funds has launched Video KYC. This is a digital solution for paperless KYC verification. Tata Mutual Funds have released videos on how to do Video KYC in English as well as in Hindi. Soon it would be available in Bengali, Kannada, Malayalam, Tamil and Telugu. However, it is simple video, hence anyone can easily understand it.
What documents are required to do Video KYC on Tata Mutual Funds Website?
You need to have Photo Identify proof (e.g. PAN card, Driving license) and Address proof (e.g. Aadhaar card, driving license, etc.,), Cancelled Cheque and your latest Photograph (optional) and signature on white paper (optional).
How to do Video KYC to invest in Tata Mutual Funds?
Here is the step by step process on how to do Video KYC on Tata Mutual Funds Website. You can do this through your mobile phone or desktop/laptop.
1) Visit tatamutualfund.com website.
2) Click on Invest Now button and read the declaration and confirm it.
3) Select Bank, provide Date of Birth and PAN number and click submit button.
4) It would provide KYC compliance status box. If the status says “KYC NOT DONE/FAILED” you need to do full KYC. Otherwise, you can continue and invest.
5) You can click on “click here” button to start the KYC process through video.
6) Enter your personal details, your name, father name, gender, married status, mobile no and email ID etc., and click NEXT.
7) Enter your address details and select photo ID proof and address proof from available list. Click NEXT button.
8) You are now on uploads option. You can select the upload (if you have PDF/JPEG copy) or click camera button to capture it through your camera. You need to do this for photo ID proof, address proof, your photograph and cancelled cheque. Then click NEXT.
9) This screen you need to upload your signature. You can sign on white paper and click “capture” so that your camera would capture your signature or select on the top left box so that you can sign then and there. Preview in right hand box and click next.
10) Now this is the final step. This is the video capture screen. You need to hold show documents one by one (Photo ID proof, Address proof, cancelled cheque). Click on Start button. Do this for each and every step for 5 seconds. Once you complete all 3 documents uploading, you can come in front of the camera and by showing your face say “Hello” followed by your full name and date of birth for 10 seconds and click on the stop button. You can play the video to check this has come correctly.
11) Enter the place of the declaration on the middle left and click check box that you are declaring it and click on “Submit”
12) You would get message that your KYC completion is successful.
Tata mutual funds would confirm to you once they verify from their end.
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How to do Video KYC to invest in Tata Mutual Funds – Video in English Version
How to do Video KYC to invest in Tata Mutual Funds – Video in Hindi Version
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Tata Mutual Funds Launched Video KYC – How does it work