How to Link Mutual Funds with Aadhaar Number?

Why You Should Link Aadhaar to Mutual Funds

This action is intended to stop the inflow of hidden monies into mutual fund investments. Even while some may contend that mutual fund investments are already governed and permitted, Aadhaar linkage is a voluntary choice. Importantly, the process of tying mutual funds to Aadhaar has been made simpler through a variety of options, allaying worries that more procedures may make investing more difficult.

The government has also instructed registrars and R&T representatives to help clients link their Aadhaar. As a result, if you own a number of mutual funds, associating your Aadhaar with registrars and R&T agents would instantly link every one of them to your Aadhaar. Although you won't have to update your Aadhaar separately for each fund, you could have to update it with each agent if your funds are managed by many registrars.

Methods to Link Aadhaar Number with Mutual Funds

Linking Aadhaar number with a mutual fund is a simple and one-time process. The seeding is expected to help government in figuring out the legality of an investment or a transaction.

Link your Aadhaar with Mutual Funds via Online through Mutual Fund Registrars

It's simple to link your Aadhaar number to mutual funds, but make sure the phone number associated with your Aadhaar account is active in order to get one-time password (OTP) messages. Mutual fund investors have the option of using mutual fund registrars to finish the connecting process rather than visiting each fund company separately.

The majority of registrars offer online tools to assist with the Aadhaar connection process. Customers can link their Aadhaar with mutual funds online through registrars like CAMS (computer age management systems), and KFintech (formerly Karvy). Investors can visit the website of the registrar that services their mutual funds product and follow the steps mentioned below:

Steps to Link Aadhaar and Mutual Funds with CAMS

Below mentioned are the step-by-step procedure that will help you complete the process:

Step 1 - Visit the CAMS official website: Click on the ‘Investor Services’ menu and follow the next steps on the page.

Step 2 - Enter your PAN number.

Step 3 - In the next field, choose any one of the options – Mobile Number, Date of Birth, or Email ID.  

Step 4 - Enter the details based on your selected option in the corresponding field.

Step 5 - Click on the 'verify' button.

Step 6 - You will be redirected to a new page. Enter your Aadhaar number and your registered mobile number. (Email ID is optional here.)

Step 7 - Click on the 'Generate OTP.'

Step 8 - You will receive an OTP on your registered mobile number. Enter the OTP and click on ‘Submit’.

Step 9 - Upon successful submission, a confirmation message will be displayed on the screen.

Steps to Complete Mutual Funds-Aadhaar Linking with KARVY

If your Mutual Funds are held with KFintech (formerly Karvy) as the registrar, Aadhaar and Mutual fund linkage can be accomplished from the KFintech website. Given below are the steps to guide you through:

Step 1 - Visit the official website of Karvy/KFintech

Step 2 - Under the Aadhaar linking form, enter your PAN and click on the ‘Generate OTP’ button.

Note: Ensure your Aadhaar is already linked with your mobile number to receive the OTP.

Step 3 - An OTP will be sent to your registered mobile number or email ID.

Step 4 - Select the mutual fund scheme(s) you want to link and tick the consent confirmation checkbox.

Step 5 - Enter your Aadhaar number in the respective field and click on the ‘Submit’ button.

Step 6 - Once submitted successfully, you will receive a confirmation message from Karvy (KFintech) confirming the Aadhaar linking.

List of Mutual Fund Companies to Which CAMS/ KARVY Provide Service

Karvy - the oldest among all mutual fund registrars—provides services to nearly 90 fund houses. Listed below are the mutual fund houses which are held by CAMS and KARVY

Steps to Seed Aadhaar-Mutual Funds by Registering with the Funds House

If an individual is a new investor or has an investment in a single funds house, he can link his Aadhaar with the mutual funds account after making an investment. Below mentioned are some of the easy steps to complete the linking process by registering with funds house.

Step 1 - Visit the particular funds house's website.

Step 2 - Enter your PAN number.

Step 3 - Select the option that reads, 'You are not KYC compliant.'

Step 4 - Enter the mobile number that is registered with Aadhaar number and fill all the other details carefully to complete the steps.

Offline Process to Add Mutual Funds with Aadhaar

The physical KYC process followed by the registrars is commonly known as offline mode. The registrars like CAMS and KARVY offer the option of linking Aadhaar and mutual fund folios offline. The process is beneficial for those investors who don't have an email ID or mobile number mentioned on their mutual fund account. Below mentioned are the steps to link Aadhaar and mutual funds offline:

Step 1 - Visit your registrar's website and download the KYC form.

Step 2 - Fill the form, don't forget to mention the folio number and attach a self-attached Aadhaar card.

Step 3 - Submit the form for linking at registrar's office or customer care center.

Summary

Linking mutual funds with Aadhaar means adding your Aadhaar number to your mutual fund folios through CAMS, KFintech, your fund house or a distributor, and Aadhaar-based KYC is voluntary. Keep your PAN linked with Aadhaar, check which registrar services your fund house in the lists above, and choose the online or offline method that suits you.