Mutual Funds KYC Guidelines

What is KYC (Know your Customer)?

'Know Your Customer' (KYC), is a term commonly used for Customer Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to 'know' their clients. This would be in the form of verification of identity and address, financial status, occupation and such other demographic information.

With effect from January1, 2012, all categories of investors irrespective of amount of investments in Mutual Funds are required to comply with KYC for carrying out any transactions in Mutual Funds. Thus any investor (all applicants in a folio) investing into mutual funds would be required to be KYC compliant by any KYC Rating Agency (CVL, NSE, NSDL, CAMS or KARVY)  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.

This one-time verification is valid for transactions across all mutual funds.

Note: The Ministry of Finance in consultation with Reserve Bank of India has made amendments to the Prevention of Money-Laundering Rules, 2005 under Notification G.S.R. 538(E), dated June 1, 2017. As per the new rules, customers eligible to be enrolled for Aadhaar shall submit the Aadhaar and PAN to the Bank for the purpose of Mutual Fund investments.

ICICI Bank Limited is an “AMFI - Registered Mutual Fund Distributor”

KYC is applicable for which type of transactions?

  • Fresh Purchases
  • Additional Purchases
  • Switch Transactions
  • New Systematic Investment Plan (SIP) / MICRO SIP Registrations
  • New Systematic Transfer Plan (STP) Registrations
  • Redemption

KYC status can be checked from any of the below mentioned websites depending on where you have submitted your KYC application form:

  1. CDSL Ventures Ltd. CVL -
  2. NSE (DotEx International) -
  3. NSDL Database Management Ltd (NDML) -
  4. CAMS -
  5. Karvy -‎

To check KYC status

  • Visit any of the above sites
  • Enter your PAN and click ‘SUBMIT’
  • Check the status
    • If KYC status is "In process", "Verified" or “New KYC Registered” then proceed ahead with the mutual fund registration process.
    • If KYC status is "Invalid data" then you need to initiate KYC process.

KYC Registration process:

  • Click here to download the KYC Form
  • Completely filled KYC application form
  • Documents required:
    • Self attested copy of PAN card
    • Self-attested copy of Address proof: Latest Telephone Bill/Landline/Mobile /Latest Electricity Bill /Passport copy /Latest Bank Passbook/Bank Account Statement /Latest Demat Account statement /Driving License. /Ration Card /Rent Agreement

For more information please visit the nearest ICICI Bank or contact your ICICI Bank Relationship Manager at the earliest.

To locate your nearest ICICI Bank Branch, Click here

How to Purchase mutual fund schemes?

  • Log on to with your User ID and Password and click Investments and Insurance section > Invest online > Invest in Mutual Funds
  • To purchase, you have an option to select the scheme, based on 'AMC' or 'Type of Scheme'
  • You can view the units allotted under ‘Transaction History ‘, based on the processing time of the AMC / Registrar.

How to redeem mutual fund schemes?

  • Investment & Insurance>Buy MF>MY portfolio> Select Scheme> Click on 3 horizontal dots >Select Sell
  • You can redeem 'All Units' or 'Partial' units of the selected scheme, specifying the units / amount you wish to redeem.
  • The transaction will be processed as per scheme Turn Around Time (TAT) and the redemption proceeds will be credited directly into your savings bank account

What is the cut-off time for any transaction?

At Mutual Fund Online, the cut-off time for same-day NAV is 12:30 p.m. for Liquid Funds and 2.00 p.m. for non- Liquid Funds. All instructions received on a transaction day (except on Saturdays, Sundays and holidays) before the cut-off time will be eligible for the same day's NAV. For transactions after the cut-off time, the NAV applicable will be as on the following business day

If I change my address, bank account or nomination, what do I need to do?

For all changes in your Account Profile or Bank Account linked for purchases or redemptions, you need to contact the nearest ICICI Bank branch and fill in a form to get the change done. For any change in the nomination details for your Mutual Fund investments, you can contact the respective AMCs directly.

Can I transact on a holiday?

You can place a request even on a holiday. However, your request will be processed on the following working day and the respective NAV would be applicable as per the Mutual Fund Offer Document.

Are the units allotted as per the NAV on the screen?

NAVs are declared by the Mutual Fund House by the end of the day. Hence the NAV displayed on the screen (the previous day's NAV) will have a lag of one day or more. Thus, the displayed NAVs are indicative and for the purpose of guidance only. When you transact through Mutual Fund Online, you get the same day's NAV depending upon the cut-off time applicable i.e. if the transaction is before the cut-off time, the same day's NAV is allotted (for all working days)


Minimum Transaction Amount:
As decided by the Fund House, there is a Minimum Transaction Amount indicated against each scheme which is available on Purchase Menu.

To view Transaction details: Invest Online > Mutual Funds > Reports > Transaction Report/Order Status Report > Generate report basis date

Offline to Online: You can't convert your offline portfolio of Mutual fund units to an online Mutual Fund portfolio. This facility is not currently available

Dividend Payout: You will receive it through a direct credit from the AMC into your savings account within the TAT for MF units to reflect in the customer holdings. The unit holdings will get reflected within 2-4 business days from the date of purchase.

The use of this information is subject to the terms and conditions governing such products and services as specified by ICICI Bank / third party from time to time. The information provided herein is for the general understanding and reference and shall not constitute or be deemed to constitute an advice, invitation, offer or solicitation to sell/purchase any products/services of ICICI Bank or any third party. "ICICI Bank" and "Iman" logos are the trademark and property of ICICI Bank Limited. Misuse of any intellectual property or any other content displayed herein is strictly prohibited.

ICICI Bank is an AMFI Registered Mutual Fund distributor. Mutual Fund investments are subject to market risk. Read all scheme related documents carefully.