The introduction of linking Aadhaar has been made mandatory by the government of India for all kind of monetary transaction. Even it is so that it has been made mandatory to link Aadhaar to the Mutual funds folios and other Demat accounts as well. Mutual funds has become a preferred choice for small investors who aims to get returns better than fixed deposits. With linking of Aadhaar, it is expected to simplify the investment process in future course of time.
Let’s highlight the step by step process of how to link your Aadhaar to your Mutual funds.
With the introduction of Prevention of Money Laundering Act (PMLA) Rules, 2017 it has been made mandatory for the financial institutions to obtain Aadhaar number of the customer and link the same with respective accounts.
To make the facility easier and systematic CAMS is providing the facility to link your Aadhaar Card to your Mutual Fund folios.
Computer age management services has served as middle man for years now, and acts as a Transfer Agency serving over 60% of assets of the industry across 15 Mutual Funds.
Using CAMS platform you can link your Aadhaar Card to the list of 15 mutual funds it is serving, the list is as below:
- HDFC Mutual Fund
- DSPBR Mutual Fund
- Birla Sunlife Mutual Fund
- HSBC Mutual Fund
- ICICI Prudential Mutual Fund
- IDFC Mutual Fund
- IIFL Mutual Fund
- Kotak Mutual Fund
- L&T Mutual Fund
- Mahindra Mutual Fund
- PPFAS Mutual Fund
- SBI Mutual Fund
- Shriram Mutual Fund
- Tata Mutual Fund
- Union Mutual Fund
Even though there are other agencies who are providing the facility to the people to link their Aadhaar card to the mutual fund folios, namely Karvy Computers serving rest of the AMC’s, Franklin Temptation for Franklin owned mutual funds, and Sundaram BNP Paribas to only mutual funds owned by Sundaram BNP Paribas. Yet only CAMS and KARVY has been currently active to link your link your Aadhaar Card to your mutual fund.
Below are the step by step processes to link your Aadhaar Card to your Mutual fund:
For CAMS here are the steps below:
Enter CAMS website and select investor service.
Once you have selected investor services in the next page click on the link- link your Aadhaar
Once you have clicked on the link- link your Aadhaar it will take you to a new page where you need to fill your email id, pan details, Aadhaar number and mobile number as shown below:
Once filled the required details kindly click on the submit button. This will generate an OTP to your registered mobile number and your email ID and will take you to the confirmation page of OTP enter your OTP and confirm as shown in image below:
Enter your OTP in the box and submit, after agreeing to the consent authority head box. In case you have not receive an OTP, click on re-generate OTP option to re-generate OTP, generally it takes maximum of 10 minutes to generate OTP, so please be patient in case your OTP is not generated in few seconds.
On successful completion of the linking your Aadhaar number to your mutual fund after your OTP is confirmed the page will take you to successful completion of Aadhaar link page as shown below:
You will also receive a successfully linking of your Aadhaar to your Mutual fund confirmation mail in your mail box.
The above steps successfully links your Aadhaar to the list of CAMS mutual fund folios related to the financial institutions listed in the CAMS service list above.
Further for the rest of the AMC use the KARVY website for linking your Aadhaar to your mutual fund. The steps are as given below:
Visit the below stated link
Click on the link “Click here to link your Aadhaar”. This will take you to a page where you need to enter your PAN number as shown below:
On entering your PAN number and clicking on the tab generate OTP will send an OTP to your registered mobile number.
After that it will take you to the Aadhaar linking page, select your mutual fund and enter your PAN and Aadhaar number on the page as shown below:
Once you have entered your required details click on the submit button.
On successful completion of linking your Aadhaar to your mutual fund folio you will receive a confirmation mail from KARVY on your registered email id.
If you have receive this message in next 24-48 hours, your Aadhaar linking is successfully completed, in case if this message is not generated please follow the above steps to re-link your Aadhaar to your mutual fund folio.
Other than online linking Aadhaar facility KARVY also provides its investors of linking Aadhaar to their mutual fund folio’s using SMS service. For that all you need to do is:
Send (ADRLNK <PAN> <AADHAAR NUMBER>) to 9212993399 from your registered mobile number. On authentication, the same will be updated across all your folios where Karvy is R&T Agent.
Offline Linking facility
In case it is not possible for you to avail the online linking and SMS facility to link your Aadhaar number to your mutual fund folio please use KARVY’s offline facility. For that all you need to do is:
Click on the hyperlink given below:
Download the form to link your Aadhaar card to your mutual fund folio, fill it up and send it across using courier service at any KARVY branch or you may directly visit any KARVY branch and submit the form on your own to link your Aadhaar Card to your mutual fund folios.
KARVY also provides facility to its customers to link their Aadhaar number to their mutual fund folio’s using distributor service. All you need to do is submit the required document scanned copy to your distributor and they will upload the same to KARVY’s portal for distributor for linking your Aadhaar to your mutual fund. On successful completion of linking a confirmation SMS and email will be generated to your registered mobile number and email id respectively.
Every individual who have their folio in Mutual Fund can use the above steps to link their Aadhaar Card to their Mutual fund folio. Hope this information was useful to you.