ICICI Mutual Fund Video KYC: A Comprehensive Guide

Introduction

Know Your Customer (KYC) is a crucial process in the financial sector that helps prevent financial fraud, money laundering, and other illicit activities. ICICI Mutual Fund has introduced a convenient and secure Video KYC facility to simplify the KYC process for its customers. This guide provides a comprehensive overview of ICICI Mutual Fund Video KYC, including its benefits, eligibility criteria, step-by-step instructions, and FAQs.

Benefits of Video KYC

• Convenience: Video KYC can be done from the comfort of your home without the need to visit a branch or provide physical documents.
• Speed: The process is quick and efficient, typically taking less than 10 minutes.
• Security: Video KYC uses advanced facial recognition technology to verify your identity and ensure the security of your personal information.
• Paperless: The entire process is paperless, reducing the need for physical documentation.
• Flexible: Video KYC can be done at any time and from any location with a stable internet connection.

Eligibility Criteria

To be eligible for ICICI Mutual Fund Video KYC, you must meet the following criteria:

• Indian citizen: Only Indian citizens with a valid PAN card are eligible.
• Above 18 years: You must be at least 18 years old to complete the Video KYC process.
• Mobile number: You should have an active mobile number registered with ICICI Mutual Fund.

Step-by-Step Instructions

Follow these simple steps to complete your ICICI Mutual Fund Video KYC:

1. Visit the ICICI Mutual Fund website or download the ICICI Mutual Fund app.
2. Click on "Video KYC" and select the type of KYC you want to complete (individual, NRI, etc.).
3. Enter your personal details and upload a clear selfie.
4. Schedule a video call with an ICICI KYC agent at a convenient time.
5. During the video call, hold your original PAN card and a government-issued identity card (e.g., Aadhaar card, passport) in front of the camera.
6. The KYC agent will verify your identity and capture your photograph and signature digitally.

Verification of Documents

During the Video KYC process, you will need to present the following original documents for verification:

• PAN card
• Identity card (Aadhaar card, passport, driver's license)

Note: Keep these documents ready before the scheduled video call to ensure a smooth and hassle-free experience.

FAQs

Q: Can I use the Video KYC facility if I am not an existing ICICI Mutual Fund customer?
A: Yes, you can use the Video KYC facility even if you are not an existing ICICI Mutual Fund customer.

Q: How long does it take for my KYC to be approved after completing the Video KYC process?
A: KYC approval typically takes 2-3 working days.

Q: Can I use the same Video KYC for multiple mutual fund companies?
A: No, Video KYC is specific to ICICI Mutual Fund. You will need to complete separate Video KYC processes for each mutual fund company you invest with.

Q: Is Video KYC secure?
A: Yes, Video KYC uses advanced facial recognition technology to verify your identity and ensure the security of your personal information.

Stories and Learning Points

Story 1:

Harish, a busy professional, wanted to invest in mutual funds but found the traditional KYC process inconvenient. He discovered ICICI Mutual Fund's Video KYC and was able to complete his KYC from home in less than 10 minutes.

Learning: Video KYC offers a convenient and efficient way to complete KYC without the need to visit a branch or provide physical documents.

Story 2:

Ritu, a senior citizen, had difficulty going to a branch for KYC. She used ICICI Mutual Fund's Video KYC and was able to complete the process from the comfort of her home. The KYC agent patiently assisted her throughout the process, ensuring a smooth experience.

Learning: Video KYC is accessible to everyone, regardless of age or mobility limitations.

Story 3:

Ashish, a frequent investor, wanted to invest in a new mutual fund. He used ICICI Mutual Fund's Video KYC to complete his KYC while on a business trip. He was able to invest within minutes, saving him time and effort.

Learning: Video KYC allows you to complete KYC and invest in mutual funds from anywhere, at any time.

Comparison of Video KYC and Physical KYC

Call to Action

If you are looking for a convenient, efficient, and secure way to complete your KYC for ICICI Mutual Fund, we highly recommend using their Video KYC facility. Visit the ICICI Mutual Fund website or download the app today to get started.

Additional Information

Table 1: Mutual Fund Industry Statistics

(Source: Association of Mutual Funds in India (AMFI))

Table 2: ICICI Mutual Fund Performance

(Source: Value Research, as of March 31, 2023)

Table 3: Comparison of Mutual Fund Investment and Other Investment Options