Subscriptions with Third-Party payments will be accepted only in certain exceptional situations as enumerated below.
In each situation, certain additional mandatory documents are required to be submitted with every purchase application as mentioned below.
Payment by Parents / Grand-Parents / Related persons on behalf of a minor (other than registered guardian) in consideration of natural love and affection or as gift:
- Purchase amount value should not exceed Rs.50,000/- (each purchase or each SIP installment):
- KYC of Registered Guardian (of the minor),
- KYC of Person making the payment (Parent/Grand-Parent/Relative),
- Declaration signed by both in the specified format. Click here for the format.
Payment by an Employer on behalf of Employee under Systematic Investment Plans or Lump-sum / One-time subscription, through Payroll deductions.
- KYC of the employee who is the beneficiary investor
- KYC of employer (making payment)
- Declaration signed by the employer in the specified format. Click here for the format.
Custodian on behalf of an FII or a Client.
- KYC of the Investor,
- KYC of Custodian
- Declaration signed by the Custodian in the specified format. Click here for the format.
Investors should make a note that each case mentioned above, Mutual Fund Common Standard KYC of investor and person making payment is mandatory irrespective of amount and the declaration should accompany the purchase application, as mentioned above.