How do I get CKYC for FD Investments?

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We prefer to diversify our investments across institutions in the 21 st centuries and particularly the last few decades. The biggest mistake we made was with our time.  We used to fill out the same long documents at each institution. Both the government and institutions realized the futility of this process. The CKYC was thus created.

Central Know Your Customer Registry (CKYC) is a central repository of KYC documents for customers who use different services in the financial sector. All customers of financial products can access the same KYC platform.

Once the norms have been completed centrally, all financial institutions, such as Banks Mutual Fund Company, can access them. Customers no longer need to complete KYC for every financial institution individually.

CKYC is an administrative tool that works just like the FD Interest Calculator.

CKYC for FD Investments: Features

  • Central KYC refers to a 14-digit number that is linked to the ID proof
  • This Central KYC Registry secures customer data in electronic format
  • The issuer verifies the documents submitted
  • When there are any changes to KYC details, all concerned institutions are notified

Documents needed for the Central KYC Registry Form

When submitting a Central KYC Registry Form, one must submit the following documents:

  • Self-attested copy of Proof of Identity
  • Copy of Proof of Residence that has been self-attested
  • One photo
  • Correctly filled-in and signed Central KYC Form

How do I fill out the Central KYC Registry form

Although filling out a Central KYC Registry registration form is easy, there are sections that require detailed explanations and knowledge of all the requirements.

Keep these things in mind:

  • Required fields are marked with *
  • Fill out the form in English Language.
  • Format for date of birth is DD/MM/YYYY
  • The form contains a list of codes for the Union Territory and State.

1.) Choose whether you are applying to a Central KYC renewal or updating your KYC account. After that, enter your CKYC Registry 14 digit number

2.) The next step is to choose from one of three accounts. These are the four types of Central KYC accounts:

Small Account – This account type is only available if the following conditions are met: The total credit in a financial calendar does not exceed Rs 1,00,000. The monthly aggregate of all withdrawals or transfers does not exceed Rs 10,000. The balance at any given time does not exceed Rs 50,000.

Simplified measures Account: If you submit any other OVDs (officially recognized documents) as permitted by RBI circular RBI/2015-16/42, this type of CKYC account can be opened. OVD’s will be issued if the customer cannot submit one of the following six documents. These accounts will have their KYC identifier prefixed with ‘L’

Standard Account: This account can be opened for either the Simplified or Small criteria. These accounts will have a KYC identifier prefixed with “S”.

OTP-Based e-KYC Account You can open this type of account if you submit a photo and the Aadhaar PDF file that you downloaded from UIDAI’s website. This is possible with an OTP. These accounts will have the KYC identifier prefixed with “O”.

3.) Personal Information: Here you can fill in the mandatory information

4.) FATCA declaration: This declaration is for customers whose tax jurisdiction lies outside of India. You can find the appropriate country codes in the form.

5.) Proof Of Identity: You can choose from the six official documents listed above to prove your identity

6.) Proof Of Address: There are three sections to this section. 4.1- is for Current/Permanent/Overseas Address. 4.2- refers to Correspondence or Local Address. 4.3- Is for individuals whose Tax jurisdiction is outside of India. It is important to note that utility bills submitted as proof of address should not exceed 2 months old

7.) Contact Details: Here you provide your contact details

8.) Information about Related Persons- An individual can add or remove a person from their account. To delete a related person, you will need the KYC number.

9.) Remarks You can add any additional information you might want to mention

10.) 10.)

11.) Annexure This can be filled if there are multiple addresses for correspondence

12) Annexure A2- This section is used to indicate additional related persons

Complete the form by clicking this link. To promote the habit of saving and to look out for transparent investments, the Central KYC Register was created. This is a one-time procedure that must be completed in order to access financial institutions’ services. Because of their digitalized systems, corporates can help you simplify such information and processes.

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