When it comes to a mutual fund, the ideal way to identify and select the right mutual fund scheme is by assessing your
risk capacity
, investment horizon and understanding your risk tolerance. You can invest in the fund of your choice for the first time by visiting your nearest mutual fund branch office or through an Association of Mutual Funds in India (AMFI) registered mutual fund distributor.

You first need to complete the
KYC (Know Your Customer)
process which involves providing certain basic documentation including the PAN card, address proof and a coloured photograph or any additional documents as may be specified by the fund house. The KYC process can also include in-person verification. After completion of KYC formalities, you can invest in physical mode the same day in the branch by filling out an investment application form and issuing a cheque from your bank account.

Alternatively, you could also apply online and follow the instructions provided on the website of the fund house, fill in the necessary information, make an online payment and submit it. Some fund houses also offer a video KYC option where you can complete your KYC process online. After your KYC process is done, furnish your email address to generate a username and password before you can start investing online in the mutual fund of your choice.

Once your KYC verification process is done, you are now eligible to invest in any mutual fund scheme of your choice.

While the above process may vary slightly across fund houses, the above should broadly get you well on your way to financial health. One last thing to keep in mind is that your mutual fund investment should depend upon your
financial goals
or needs, investment horizon as well as risk appetite. Do ensure you make a well-informed decision before investing.

Kindly note that with effect from December 8, 2008 as per requirements of the U.S. / Canada Securities and Exchange Commission (SEC), person falling within the definition of the term ‘U.S. / Canada Person’ under the US Securities Act of 1933, and corporations or other entities organized under the laws of the U.S., are not permitted to make investments in securities not registered under the Securities Act of 1933.

In view of the same, the U.S. / Canada person will not be permitted to make any fresh purchases/additional purchases/switches in any Schemes of ICICI Prudential Mutual Fund (via internet).

Click here to learn more about mutual funds.

An investor education initiative.
www.icicipruamc.com/noteto know more about the process to complete a one-time Know Your Customer (KYC) requirement to invest in Mutual Funds. Investors should only deal with registered Mutual Funds, details of which can be verified on the SEBI website http://www.sebi.gov.in/intermediaries.html. For any queries, complaints & grievance redressal, investors may reach out to the AMCs and / or Investor Relations Officers. Additionally, investors may also lodge complaints on https://scores.gov.in if they are unsatisfied with the resolutions given by AMCs. SCORES portal facilitates you to lodge your complaint online with SEBI and subsequently view its status.

Mutual fund investments are subject to market risks, read all scheme related documents carefully.

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By fintax360

We Fintax360 team simplify finances and taxes for millions of Indian businesses and people. We educate them about finances, taxes and improve their relationship with money.

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