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Prerequisites for completing the Digital KYC

A. Investor must have PAN (Permanent Account Number).

B. The mobile number or Email Id must be registered against his Aadhaar Data with UIDAI.

C. Investor must have clear copies of PAN (Proof of ID) and Proof of Address.

D. Investor must have a Cancelled Cheque leaf of his CBS bank account, where he is preferably the Primary account holder

E. Investor must have a valid email id and mobile number.

Documents to be kept ready by the investor before attempting the Digital KYC

A. Clear Photo / Image of PAN as Proof of ID

B. Clear Photo / Image of Address Proofs like (any one of the following) Aadhaar card / Aadhaar XML / Aadhaar Digilocker / Voter ID/ Passport/ Driving License

C. Clear Photo of Cancelled Cheque leaf.

D. Clear Photo of his Signature.

About Digital KYC (What is Digital KYC)

SEBI had vide its circular on KYC process and Use of technology for KYC dated 24th April 2020, allowed extensive use of technological innovations to complete the KYC digitally subject to certain system validations. Based on this, we at UTI, have enabled a paperless solution to complete the Digital KYC process for all our Resident Indian Individuals in just few minutes and onboard them digitally.
In short, Digital KYC is a paperless process for KYC non-complied investors to complete the entire KYC process within few minutes, so that you are ready to invest with us.

Importance & Benefits of Digital KYC? (How Digital KYC is Helpful?)

Investors desiring to invest / transact in mutual fund schemes are required to comply with the KYC norms applicable from time to time. For this purpose, Digital KYC will help such investors who are New to UTI Mutual Fund and their PAN is non-KYC compliant. This also helps all our existing investors whose PAN is not yet KYC compliant. The investor can complete the entire Digital KYC process within few minutes, if the documentary requirements are kept ready. There is no need to step out of your house.

FAQs on Digital KYC (Things investor needs know about digital KYC)

  • What is Digital KYC?
    Digital KYC is paperless process for KYC non-complied investors to complete the entire KYC process within few minutes, so that you are ready to invest with us.
  • What are the pre-requisites for completing the Digital KYC?
    Investor need to keep the following soft copies ready before starting the Digital KYC process a. Self-attested PAN copy as your Identity Proof. b. Anyone of these document i.e., Aadhaar card/ Driving License/ Voter ID/ Passport/Offline Aadhaar (downloaded within 3 days/ Aadhaar Digilocker as your Address Proof. c. Cancelled cheque copy with the name as per your ID or Address Proof. d. Image of Your signature on plain paper.
    e. Should have a device with camera and microphone for taking a small video.
  • What is Offline Aadhaar?
    It is a secure sharable document which can be used by any Aadhaar number holder for offline verification of Identification. A resident desirous of using this facility shall generate his/her digitally signed Aadhaar details by accessing UIDAI resident portal.
  • How to generate Offline Aadhaar?
    The process of generating Aadhaar Offline e-KYC is explained below: 
    • Access the URL -  https://resident.uidai.gov.in/offlineaadhaar 
    • Enter ‘Aadhaar Number’ or ‘VID’ and mentioned ‘Security Code’ in screen, then click on ‘Send OTP’ or ‘Enter TOTP’. 
    • The OTP will be sent to the registered Mobile Number for the given Aadhaar number or VID.
    •  TOTP will be available on m-Aadhaar mobile Application of UIDAI. Enter the OTP received/TOTP.
    •  Enter a Share Code which need to be the password for the ZIP file and click on ‘Download’ button 
    • The Zip file containing the digitally signed XML will be downloaded to device wherein the above mentioned steps have been performed. 
    • Please remember the Share Code password of this ZIP file as it will be required to upload the Offline Aadhaar document, while sharing your Proof of Address.
  • What is Digilocker?
    DigiLocker is a digital locker facility provided by the Government of India under the Digital India initiative. Using this free facility you can download and store Officially Valid Documents like Aadhaar, Driving License, PAN, etc in a digital format, thereby eliminating the use of physical documents.
  • How to create a Digilocker?
    • Signing up for DigiLocker is easy - all you need is your mobile which need to be mapped to your Aadhaar number.
    • Validate your credentials using the OTP (one-time password) followed by setting your security PIN for 2-Factor authentication. This will create your DigiLocker account. 
    • For more details please access URL - https://digilocker.gov.in
  • How much time does it take to complete the Digital KYC process?
    Once the requisite documents are submitted online, just in a few minutes  
  • Can I transact immediately once the documents are submitted through Digital KYC process?
    • Once the KYC application and documents are submitted, Online validations and scrutiny checks are done.
    • If the KYC application is in good order, your KYC application is submitted to KRA (KYC Registration Agency) for another round of verification by them. 
    • This will enable your KYC status as, “Under Process” with which you start to transact.
  • Can I submit the cheque leaf in the name of my Family member while the Identity Proof is in my name?
    No, the investor have to submit the cheque leaf in the same name as available on the Identity Proof. 
  • Can I submit Electricity Bill as Address Proof while completing the Digital KYC?
    No, the investor have to submit anyone of these Officially Valid documents
    • Aadhaar card
    • Driving License
    • Voter ID
    • Passport
    • Offline Aadhaar not older than 3 days
  • What care need to be taken while taking a Selfie and Short Video?
    Investor should click the photo and short video with bright light around and plain background & should ensure that there is no one else in the picture frame at the time of taking the photo.
  • After completing Digital KYC when can I invest?
    On successful completion of above process, investor can invest immediately 
  • What will happen if my KYC is not successful or i need any assistance?
    You can contact any of the nearest UTI Financial Centre or your distributor or call us on our toll free number 1800 266 1230. You may also write to us at ‘service@uti.co.in’ mentioning your PAN.
  • Do I have to submit any of the documents somewhere?
    • The process is completely paperless.
    •  You don’t have to submit any of the documents anywhere.
  • What are the charges for submitting my KYC application Digitally with UTI MF?
    • It is a free service.
    • All the charges are borne by UTI Mutual Fund on behalf of the investor.

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