KYC

KYC is a process that verifies your identity, signature, and address, among other details. It’s a mandatory requirement for opening a bank account or investing in mutual funds. Without valid KYC documentation, asset management companies or financial institutions will deny your investment requests. DS Consultants will help you keep your KYC updated effortlessly.

When Should You Update Your KYC?

While KYC updates are infrequent, they are important for your investments. You need to update your KYC in the following situations:

• Name Change: If you have legally changed your name and it differs across documents like your Aadhaar card, passport, and PAN card, you must update your KYC using your most recent documents. DS Consultants can assist you with this process.
• Address Change: Any change in your residence, whether due to a job move or marriage, should be reflected in your KYC documents.

How to Update Your KYC

You can easily update your KYC online by submitting the necessary identity and address proofs. This process standardizes the verification of investors and customers, ensuring they meet requirements before accessing financial services.

KYC helps protect both customers and financial institutions from potential money laundering. Without an updated KYC, you cannot invest in mutual funds, banks, or trading platforms. Additionally, when opening a Demat and Trading Account, having the correct KYC documents is essential. DS Consultants follows these six simple steps for KYC updates:

• Registration
• Profile Analysis
• Verification of Financial & Personal Information
• Linking Bank Details
• Uploading KYC Documents