KYC Validation: validated v/s registered v/s hold
One of the most important things before investing, is ensuring your KYC i.e. Know Your Customer is completed & validated.
The KYC done for mutual fund investing is different from the KYC done by your bank. There are 3 different KYC statuses. You want to ensure you are KYC Validated. If your KYC is validated, you will have a smooth time doing any investments.
What's the difference between each, and what does it imply?
→ Relax! You have to do nothing at all! You're gold!
→ Over 70% of investors are KYC Validated, you too are one of them.
→ You can do ANY transaction in any mutual fund, ANYTIME.
→ You can continue making transactions in all your existing Mutual Fund investments.
→ To invest in a new mutual fund, you'll need to update your KYC status.
→ You can upgrade to 'KYC Validated' by completing the KYC Update process.
→ The process is simple and takes only a few minutes to complete.
→ You will need to resolve this before doing any transaction.
→ Check the reason for status (Mobile/Email not validated, PAN-Aadhaar not linked, etc.)
→ Remediate the issues by following steps on the mutual fund website or speak to your Mutual Fund Distributor / Advisor.
→ Once resolved, your status will change to Registered/Validated.
How do you check your KYC status?
Simple, you'll need your PAN number. Then head over to:
Check Your KYC Status
Enter your 10-digit PAN and captcha and click on Submit. Your KYC Status will pop up, you can take a screenshot or download the PDF for your records.
If your status is KYC validated, you're all good to go. Don't worry. However, if your status is KYC registered (or worse, hold) — then get this fixed. Reach out to your distributor or advisor and ask them how to resolve this.
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