FundzBazar, online Mutual Fund investment platform, has launched an exclusive feature for all first time Mutual Fund investors. It has launched Paperless eKYC facility which will allow these investors to complete their KYC process from the comfort of their home or office in just 2 mins.
KYC (Know Your Client) Verification, is a one-time mandatory process for investing in Mutual Funds. If any investor wants to invest in Mutual Funds, he has to first get himself KYC verified only then he can start investing in Mutual Funds.
eKYC@ FundzBazar: Completely Paperless and in just 2 mins!
At FundzBazar, eKYC can be done in 3 simple steps and in just 2 mins. All it require is a Pan No. and Aadhaar No.
Step 1: Investor has to register him/herself by providing email id and mobile no.
Step 2: He/She has to enter PAN, Aadhaar no. and confirm through OTP sent on mobile no. registered with Aadhaar.
Step 3: He/She has to provide additional details and it’s done.
With eKYC, now there is no need to fill KYC form, attach supporting docs – Pan Card, driving license, etc. and visit the nearest MF office to submit the documents and to do IPV – In Person Verification
In case of Physical KYC, investor has to wait for 2-3 weeks to get his status KYC-Verified. eKYC has reduced this period to 2 mins. only.
FundzBazar provides 2 options to do eKYC:
OTP based eKYC:
KYC is done through confirmation of OTP sent on mobile number registered with Aadhaar.
Under this option investor will be allowed to invest upto Rs. 50,000 per mutual fund per financial year.
KYC is done through authentication of your finger print scan through UIDAI approved devices.
Under this option investor can invest without any limit.
To complete biometric eKYC, investor has to personally visit any of the Prudent branches.
Source – BWI