Mutual Funds

Investing in Mutual Fund holds a lot of benefits and can also help in reducing the risk by investing across diverse portfolios. With this if you are looking to apply for mutual funds, make sure you fulfil the following requirements for Mutual Fund investments through Axis Bank.

Here is the eligibility criterion for mutual funds:

• The applicant needs to be an existing Axis Bank account holder
• The applicant needs to be KYC Compliant
• The Savings Bank Account status has to be Single or Either/Survivor
• The Account Opening Application Form has to be signed by the all the Bank Account Holders

If you are an existing Axis Bank customer and haven’t opened an Investment Services Account yet, Download Forms to register.

Make sure you have all the necessary documentation for Mutual Funds in place. To open a mutual fund account, we need to have KYC in place in accordance to SEBI. After filling up the application form along with Customer Risk profiler and KYC application, submit them to the nearest Axis Bank Branch.

What is KYC (Know your client)?

KYC or Know Your Customer is a customer identification process. The Securities and Exchange Board of India (SEBI) has laid down guidelines under the Prevention of Money Laundering Act 2002, which makes it binding for financial institutions and financial intermediaries like mutual funds to acquaint themselves with their customers. KYC process helps prevent money laundering and other suspicious transactions. With effect from January 1, 2012 all categories of investors irrespective of amount of investments Mutual Funds are required to comply with KYC for carrying out any transactions in Mutual Funds. Thus, all applicants investing into mutual funds would be required to be KYC compliant by any KYC Registration Agency (CAMS, KARVY, CVL, NSE or NSDL) without which the transactions may be liable to be rejected by the respective mutual fund houses.

Please note KYC norms are mandatory for ALL applicants/investors (including existing investors and joint holders) while investing with any SEBI registered Mutual Fund, irrespective of the amount of investment.

KYC status can be checked from any of the below mentioned KRA websites, no matter where you have submitted your KYC application form:

• CAMS  
• Karvy 
• CDSL Ventures Ltd. CVL  
• NSE (DotEx International) 
• NSDL Database Management Ltd (NDML)  

Please contact your Relationship Manager for tax related queries on Mutual Fund investments. Mutual Funds are subject to market risk. Please read the offer document carefully before investing.