InvestorQ : How can I invest in mutual funds online with an Aadhaar card?
Pratik vyas made post

How can I invest in mutual funds online with an Aadhaar card?

Ashok Patkar answered.
1 year ago
To invest in mutual funds via Aadhar, all you need to do is visit the website of the mutual fund AMC. You can invest in the fund directly through the AMC website after furnishing a few documents, including Aadhar. However, do remember that this will only for the initial, registration. You will have to complete the KYC (Know your customer) formalities in order to begin your investment. This is mandated by the Securities and Exchange Board of India (SEBI) and AMFI (Association of Mutual fund Industry). Apart from this direct method, you can also invest through various fintech platforms and brokerage websites and apps.

I personally have an account with IIFL. It was very easy to open my account with IIFL. The process is fast, and simple with a very capable customer service team to help you in case you falter somewhere. The reason I choose to buy mutual funds with IIFL is that it saves me the hassle of investing in different mutual funds through multiple websites. You just need to register once and you have access to an expansive list of mutual funds that you can begin investing in at a go. In case you are confused between a variety of mutual funds, you have the option of comparing mutual funds based on their analytics. There is also a fund screener that shows the NAV and other indicators of your chosen fund/s at a glance.

Many platforms and apps allow investors to open an account just with an Aadhar and OTP confirmation. This does not allow you to circumvent the KYC process. That is absolutely compulsory. This route just eases your initial registration process. You will require Pan and some other documentation, including Aadhar, to complete your KYC. The good thing about this step is, once you complete the KYC process, you can invest in as many stocks and mutual funds as you want. You will not have to duplicate the process at each and every platform and/or AMC website that you invest through.