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 30/03/2020
Yes. An NRI can invest in Mutual Funds In India using their NRE/NRO accounts. In order to invest in Mutual Funds, NRIs must be registered with a Registered Transfer Agents (RTAs). These RTAs maintain a detailed record of Mutual Fund Investors. There are a number of wealth management services and digital platforms that can […]
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 07/09/2023
Yes, Non-Resident Indians (NRI) can invest in mutual funds from their NRE (Non-Resident External) bank account. NRE accounts are rupee-denominated, so NRIs can deposit and maintain his/her foreign earnings in India in rupees. NRIs can open an NRE account in the form of savings or a current bank account and invest in mutual funds via […]
