Imagine you are Bruce Willis sweeping across with your car across the city of Chicago trying to protect your generic pretty teenage daughter who has found the secret to a terrorist’s plan who has concocted a plan of world domination through KYC. Yes, you are absolutely right to think that KYC isn’t really that exciting initially and real-life is nothing remotely mirroring KYC in that fashion. Although today’s world is fighting a silent marketing war with information and big data, with forefront players being Google and Zuckerberg’s Facebook acquiring multiple IT products with access to user information one after the other, KYC has nothing to do with that.
But, don’t sadden your adventurous heart, because the KYC that we are talking about today is for investing, which is an adventure in itself. Investing is a quest for making our financial dreams come true and shouldn’t be considered anything less than an expedition you can carry out to meander through the world of mutual funds. But where does KYC or Know Your Customer fall into this jigsaw puzzle?
KYC: Your golden ticket to investing in Mutual Funds
In the labyrinth of investing, mutual funds generally come with the option to choose the risk appetite you are comfortable with. So, it already is customized to the fact whether you are comfortable with being an Ant-Man with lower stakes or Captain America who has to constantly deal with ‘the world is at stake’, kind of situations. So, the true adventure is being explored by the fund managers of mutual funds but at the same time, you are definitely the one in the ride although reaping the benefits from it.
KYC or Know Your Customer is that one thing mandated by the SEBI organization in India that allows you to invest in mutual funds once you have completed it. While there are KYCs in more regular situations in our lives such as telecom services or payment services, investing also requires KYC to protect the interests of all the parties involved, starting from your financial security and income tax calculations, to Government’s interest in maintaining a log to the companies in between, whether it the mutual fund plan from a particular bank or financial institution or the platform where you are using to invest in.in other words, it helps to tremendously reduce the cases of fraudulent activity in a mutual fund market.
So, how to get KYC done?
On our mutual fund platform, the KYC process is free, user-friendly, and takes about 7-10 minutes taking for granted that you have your basic documentation ready. Here are the steps to having it done on our platform.
- Open our App and go to the KYC completion process section.
- Fill in the personal details which are asked step-by-step
- Upload the documentation, which can be also done with the help of the camera integrated into our platform for your convenience.
- Upload an IPV video, where you basically take a video of yourself stating your name and that the video has been made for the purpose of IPV solely.
- The signature is easy to deal with as you will be expected to simply touch and add your signature on the screen and upload it.
Once you have provided all the information and uploaded all the required documentation IPV video and your signature the information will be sent for verification, however not pausing your investment process since once you have submitted your complete KYC, you are investment ready and can start enjoying the benefits and the adventures of mutual funds, whether it is in the form of a one-time mutual fund or a monthly SIP.
[tek_button button_text=”Download Fisdom App” button_link=”url:https%3A%2F%2Fbit.ly%2F2zxorQI||target:%20_blank|” button_position=”button-center”]
