I am an NRI and want to invest in mutual funds, need to do KYC. I have an NRE account in ICICI Bank. What’s the procedure to do KYC and invest in mutual funds?
SBNRI Team
answered on 01/03/2023
Online Mutual Fund KYC for NRI is a seamless online process through which NRIs can easily complete their KYC requirements for Mutual Funds by submitting the documents online and verifying them through In-Person Verification (IPV).
Mutual Fund KYC through SBNRI App
NRIs/ OCIs can download the SBNRI app to complete the KYC process seamlessly and invest in mutual funds in India from their country of residence without the hassle of attestation or physical paperwork. Download the SBNRI app and:
- Complete your KYC: Enter your personal details and attach required documents, like:
- PAN Number
- Overseas address proof: Any of – Water/ electricity bill, postpaid mobile/ internet bill, rent agreement, driving license, etc.
- Passport – front and back
- Passport size photograph
- Signature
If all details are correct, your KYC will be approved within 7 to 8 business days.
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
- City and country of birth
- NRO/ NRE bank account statement/ canceled cheque for the latest 3 months
- Nominee details
For example, AMCs like Nippon India, UTI Mutual Fund and Navi Mutual Fund currently accept the digital declaration* from NRIs.
Note: *NRI investment in mutual funds in India is subject to certain terms and conditions, and AMCs change their policies from time to time.
Non-Resident Indians or NRIs can invest in mutual funds for wealth creation.
SBNRI is an authorised Mutual Fund Distributor platform & registered with Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download SBNRI App to choose from 3000+ mutual fund schemes or to ask any questions related to mutual fund investment.
For more queries like “Online Mutual Fund KYC for NRI”, click here.
To get expert advisory on online KYC of Mutual Funds at SBNRI, contact us using the button below.
Related Questions
SBNRI Team
answered on 31/03/2020
KYC refers to Know your Customer. KYC of Mutual Funds for NRIs is a simple process of verifying the details provided by the customer. The following documents are needed for KYC of Mutual Funds for NRIs: Copy of your passport with name, photograph, address and Date of Birth PAN Card Current Residential Proof (temporary or […]
SBNRI Team
answered on 30/03/2020
Best Mutual funds for US NRIs: Updated List 2020 DHFL Pramerica Mutual Fund Birla Sun Life Mutual Fund ICICI Prudential Mutual Fund SBI Mutual Fund UTI Mutual Fund L&T Mutual Fund PPFAS Mutual Fund (Parag Parikh Financial Advisory Services) Sundaram Mutual Fund Different types of Mutual Funds are taxed differently: While there are multiple […]
SBNRI Team
answered on 11/09/2023
Yes, Non-Resident Indians (NRIs) can purchase mutual funds in India. They can purchase and invest in both domestic and foreign mutual funds offered by the Asset Management Companies (AMCs). Do keep in mind that there are certain restrictions and requirements that NRIs need to abide by under the Foreign Exchange Management Act (FEMA) while investing […]
SBNRI Team
answered on 11/09/2023
Yes, NRIs can invest in Quant Mutual Funds on a full repatriation and non-repatriation basis. It is suggested to note that such an investment should adhere to the Foreign Exchange Management Act (FEMA) guidelines and will be subject to certain tax implications. As an NRI, you can easily invest in Quant Mutual Fund by […]
