How to Link Mutual Funds with Aadhaar Number?

On this page, we will give you information on how to go about linking your mutual funds with your Aadhaar number. In this article you will find information regarding Aadhaar linkage by online and offline method.

Every mutual fund holder, including the principal holder, joint holders, guardians (for minors), POA holders, and donors (for children's schemes), must link their Aadhaar. The fact that NRIs are not eligible for Aadhaar means they are not compelled to link their mutual funds with the identification number. Additionally, the Aadhaar linking requirement does not apply to people who live in Jammu & Kashmir, Assam, or Meghalaya.

All authorised signatories for non-individual entities, such as businesses and firms, must supply their Aadhaar information. Hindu Undivided Families (HUFs) must have their family's karta provide their Aadhaar card in order to invest in mutual funds.

How to Link Aadhaar with Mutual Fund

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, the Aadhaar linkage need is universal. 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.

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.

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), Karvy, Franklin Templeton, and Sundaram BNP Paribas. Investors can visit the website of the registrar that services their mutual funds product and follow the steps mentioned below:

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

Step 1 - Visit the CAMS official website: www.camsonline.com. Click on the ‘Investor Services’ menu and select the ‘Link Your Aadhaar’ option displayed on the left side of the page. Alternatively, you can visit this direct link: www.camsonline.com/InvestorServices/COL_Aadhar.aspx.  

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 Karvy as the registrar, Aadhaar and Mutual fund linkage can be accomplished from the Karvy website. Given below are the steps to guide you through:

Step 1 - Visit the official website of Karvy/KFintech: https://www.kfintech.com

Step 2 - Click on the ‘Link Your Aadhaar’ tab (usually under the Investor Services section).

Step 3 - 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 4 - An OTP will be sent to your registered mobile number or email ID.

Step 5 - Select the mutual fund scheme(s) you want to link and tick the consent confirmation checkbox.

Step 6 - Enter your Aadhaar number in the respective field and click on the ‘Submit’ button.

Step 7 - Once submitted successfully, you will receive a confirmation message from Karvy (KFintech) confirming the Aadhaar linking.

In case an investor is holding mutual fund schemes offered by Franklin Templeton (FT) India, he should link his Mutual fund folios through the FT portal. The investor can't link his Aadhaar number to FT folios from any other website. Following are the steps to link your Aadhaar and mutual funds on the FT port

Step 1 - Visit the Franklin Templeton portal.

Step 2 - Click on the 'Customer service' option.

Step 3 - Under the Instant services tab, select the 'Update Aadhaar number' option.

Step 4 - The page gets redirected to a new page, enter your PAN card number against the given box.

Step 5 - In the select box, click on the arrow to select the most preferable option. The options include Date of Birth/Pin Code/ Last Transaction Amount.

Step 6 - Enter the details of the selected option and click on the 'Next' button.

Step 7 - On the next page, enter the bank account number that is registered with Franklin Templeton during your investment.

Step 8 - Click on the 'Next' button.

Step 9 - Enter the 12-digit unique identification number in the respective field and click on the 'Submit' button.

Step 10 - On completing the above steps, you will receive a confirmation message on your Aadhaar registered mobile number and personal email ID.

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

CAMS

KARVY

  1. L&T Mutual Fund
  2. HDFC Mutual Fund
  3. ICICI Prudential Mutual Fund
  4. DSPBR Mutual Fund
  5. HSBC Mutual Fund
  6. IIFL Mutual Fund
  7. IDFC Mutual Fund
  8. PPFAS Mutual Fund
  9. Birla Sunlife Mutual Fund
  10. SBI Mutual Fund
  11. Tata Mutual Fund
  12. Kotak Mutual Fund
  13. Mahindra Mutual Fund
  14. Shriram Mutual Fund
  15. Union Mutual Fund
  1. LIC Mutual Fund
  2. Canara Robeco
  3. Axis Mutual Fund
  4. Reliance MF
  5. DHFL Pramerica Mutual Fund
  6. Motilal Oswal Mutual Fund
  7. Peerless Mutual Fund
  8. Baroda Pioneer Mutual Fund
  9. BOI AXA Mutual Fund
  10. IDBI Mutual Fund
  11. Taurus Mutual Fund
  12. INVESCO Mutual Fund
  13. Mirae Asset Mutual Fund
  14. Principal Mutual Fund
  15. Quantum Mutual Fund
  1. UTI MF
  2. JM Financial Mutual Fund

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.

The Aadhaar and mutual funds seeding method is easy. Follow the simple steps to complete the linking process:

Step 1 - Correctly type "ADRLNK < space > < PAN > < space > < AADHAAR NUMBER > < space > < Y >" on your mobile phone's keypad.

Step 2 - Send the typed message to 9212993399 from the phone number that is registered with Karvy.

Step 3 - On completing the procedure, you will receive a confirmation message.

Important Point:

Remember 'Y' in the typed message stands for your consent to link the 12-digit UIN to all the mutual funds serviced through Karvy.

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.

Disclaimer
This article is intended for informational purposes only. For more information please refer the link(s) provided above or visit https://uidai.gov.in/

FAQs on Linking Mutual Funds with Aadhaar Card

  • What are the different sources to download the linking form when a customer applies for offline mode?

    A mutual fund investor can download the form from the websites of the transfer agents, association of mutual funds of India, fund houses, and registrars.

  • After completing the linking process either through CAMS or KARVY, will the investor receive any notification from UIDAI?

    Yes, an investor will receive an email confirmation from the UIDAI mentioning the Aadhaar number, OTP, date, time and the registrar's name.

  • Can the linking process be done through mutual fund distributor?

    Yes, the seeding process can be accomplished offline through a mutual fund distributor.

  • Does Aadhaar and mutual fund linking is applicable for even NRIs, non-individuals and HUF's?

    No, for NRIs, non-individuals and HUFs, the Aadhaar-mutual fund linking is not possible from the CAMS website. However, through Karvy's website non-individuals can complete the linking process.

  • Do I need to connect my Aadhaar to every mutual fund separately?

    No, you are not required to update your Aadhaar separately for every mutual fund. Each agent or organisation you hold funds via might be connected to it.

  • If there are more than one account holders for a mutual fund, what are the steps to be followed?

    For a mutual fund that has more than one account holders, Aadhaar number of all the holders should be linked to the folio.

  • Is there a way to link mutual funds in demat account to Aadhaar?

    Yes, an investor can easily link a mutual fund that is in demat form by approaching the depository participant and need not visit the registrars or fund houses.

  • Is there a set date by which Aadhaar must be connected to mutual funds?

    No, there isn't currently a set time limit for integrating your mutual funds with Aadhaar.

News about Linking Mutual Funds with Aadhaar Number

Mutual fund investors need not to link Aadhar and PAN to get KYC-registered status

According to Securities and Exchange Board of India, it is no longer mandatory for mutual fund (MF) investors to link their Aadhaar with PAN for KYC registration. Simplifying the norms under ‘know your customer’ (KYC) guidelines are the intentions behind the new measures. On May 14, SEBI circularized these guidelines.

17 May 2024
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