November 2021


What is the Procedure of KYC For Mutual Funds?

Know Your Customer (KYC) for mutual funds works the same way as that for other financial services. It’s a customer identification process carried out by all financial institutions including banks and asset management companies.

KYC Registration Agencies (KRAs), entities registered with the Securities and Exchange Board of India (SEBI), maintain KYC records. The Reserve Bank of India set up the KYC guidelines in 2002. Along with these guidelines, the SEBI master circular on Anti Money Laundering Standards emphasises the requirement for the customer identification procedure.

Why is KYC Mandatory for Mutual Funds?

The Prevention of Money Laundering Act, 2002 requires you to complete the process of KYC before investing in mutual funds. It helps establish your authenticity as an investor by making sure you provide your real name and other necessary details. The process also ensures that you have constructive investment purposes and don’t come with a history of defaults. This helps prevent risks of fraud and money laundering in future.

Who Needs KYC Compliance for Mutual Funds?

Whether you want to invest in a mutual fund through SIP (systematic investment plan) or with a lump sum, you must complete the KYC procedure. You only need to go through a one-time verification for transactions across all funds. KYC compliance for mutual funds applies for:

  • Non-individual(s) or individual(s)
  • One who has legally become an investor, for instance, after the death of the original investor
  • Constituted PoA (Power of Attorney) holder(s)
  • A guardian who wants to invest on behalf of a minor

How to Get KYC Compliance?

You can check whether you have already gone through the KYC compliance process by entering your PAN details on the particular mutual fund website or the KRA website. Then you can also see the last modification date and whether you need to provide any missing details.

If you have completed the KYC procedure at an AMC or KRA branch or via a SEBI-registered intermediary like a mutual fund, DP or broker, you need not go through the process again.

If you are not KYC compliant, you can go through the process online or offline. For the online (video) method, you need to upload scanned images of your signature and proofs of address and identity with an original photograph. To carry out the process physically, you (including all joint holders if any) can download the KYC form online from the mutual fund website. Then each applicant must fill it up and submit it with proper identity and address proofs. When you submit the documents, you need to appear in person for their physical verification.

After the procedure, use the SIP compounding calculator to check the estimated returns of your chosen investment scheme.

Now that you see it’s so easy to carry out KYC for mutual funds, complete the procedure soon so you can start making investments right away. Besides, always make sure that the information in your KYC records is updated. To modify any information, you need to submit a KYC details change form with the required documents like a current address proof if your residential address has changed.

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What is the maximum home loan amount one can apply for?

Owning a house is a big deal nowadays. Hence, a home loan is beneficial when it comes to buying or building your own home. There are certain things that need to be kept in mind if you want to know more about the whole process of buying your own home. Read further to know how much home loan amount you can be eligible for.

How to know if you are eligible for a home loan?

Wondering if you are even eligible for a home loan? You can find out with the help of the home loan eligibility calculator. This calculator makes sure you know the criteria as well as whether or not you meet the standard criteria required to get a home loan. To know if the applicant is eligible for a home loan, the calculations of a salaried /self-employed customer are done based on the applicant’s age, income, expected loan amount, loan tenure and the type of company they work for.

Tips to know before applying for a home loan

  • You can enhance the eligibility of your home loan application by adding a co-borrower/ co-owner
  • You can also opt for a longer tenure loan
  • An additional source of income can strengthen your application as well.

Factors that determine your home loan eligibility 

There are certain factors that determine your eligibility for a home loan; they are as follow:

Steps to take for a home loan

As mentioned above, there are several things you need to understand before you take a further step in this process.

  1. Eligibility

With a few eligibility criteria already mentioned above, different banks have different requirements you need to meet if you want to choose them as your home loan provider. One of the essential requirements is credit history to know how often you tend to repay. The preferred credit score is 750, so make sure you have a tight credit score. Using a home loan eligibility calculator is also one of the ways to determine eligibility for a home loan. The eligibility is estimated considering various factors, including age, occupation, collateral security, income, etc. If you meet these requirements, you are considered for your home loan application.

  1. Pay the down payment amount after meeting your eligibility requirements.

Generally, the applicant is only supposed to pay 10-20% of the total amount as a down payment, but if you can afford to pay more, you can go ahead and do so. The rest can be arranged by taking a home loan from the bank or HFC. For cases when the applicant does not have 10% to pay as the down payment, they can take a soft loan from their friends, relatives or employers. But keep in mind that the lesser the borrowed amount, the lesser the burden of repaying.

  1. Check your affordability beforehand.

Before you finalize an amount you will be paying as your home loan EMI, make sure it doesn’t become a burden. The basic formula to keep in mind while paying the EMI is to look at your loan to income ratio, which should be 20-30% from your income. Don’t decide the EMI amount based on your future raise. And the rest will go easy for you.


These were the things you need to keep in mind if you are planning to buy your own house with the help of a home loan. Choose a trusted home loan provider and unleash your dream of owning a home.

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What New Payment Methods Must Business Owners Consider?

To adapt to modern time requirements, businesses of all kinds, including e-commerce businesses, must stay up to date with the demands and needs of their clients. This includes providing them with the services and products they are looking for.

But it’s not only about the quality of products and services you sell; it’s also about how easy and convenient the whole purchase process is, starting from the shopping journey and payment to the delivery and after-sales services.

Customers who shop online look for convenient payment options that appeal to their preferences. Considering that, businesses must offer several payment options to cater to and target as many customers as they can.

For now, cash is here to stay. Some may still go for cash to make payments. There are many reasons for that; old people find it easier to handle cash and think it is safer than other options. Other people use cash to control their expenditures since they tend to turn into spendthrifts when using credit cards and other digital payment methods.

Still, those don’t represent the majority; most people don’t like to carry cash anymore. For that reason, businesses must be prepared to serve people no matter what their preferences are.

In this article, we will list the most popular payment methods every business must encompass not only to be at the top of clients’ list but also to facilitate the relationship between them and their different suppliers.

Credit and Debit Cards

Credit and debit cards are some of the most popular payment methods around the world. They can be used for both in-store and online purchases.

 Many prefer paying using their card to benefit from their banks’ reward programs. With every payment they make they’ll earn points that can be redeemed for things like traveling miles, VIP lounge access, and other tempting stuff.

They are popular for their convenience. It is rare to find a business that doesn’t allow paying with a debit or credit card and the few that don’t lose a lot of profit. It takes few clicks, and everything is done.

Direct Deposits

With direct deposits, individuals can transfer money directly to the business’ account. Through direct debit mandates, the customer would be able to send a request to the bank to authorize the payment.

Direct deposits are actually one of the safest paying methods, eliminating the risk of theft. This method is more commonly used with recurring expenses, e.g., monthly service subscriptions fees.

It may be a traditional way compared to the newly invented methods, but it wouldn’t lose its value any time soon. In fact, it is very essential for B2B kind of payments.


It may seem a bit insane for some at the moment, but cryptocurrencies are growing in popularity and are expected to be one of the mainstream payment options in the future. Governments around the world are heading towards establishing laws that will regulate the use of cryptocurrencies.

Though they are surrounded with uncertainty due to the constant change in value and government unstable views towards them, cryptocurrencies are a worthy online payment option to consider.

 Electronic Wallets

Electronic wallets or e-wallets are the new go-to payment option for businesses and customers. The concept is simple, the customer would download an app, where he will store all the financial information he needs to make a payment. It can be used to pay online or in-store.

Not only customers can benefit from e-wallets these days. This convenient option can function as a payment method in B2B transactions. It would help business owners to enhance their relationships with suppliers, track expenses, and settle payments easily.

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