Frequently asked questions

KYC is an acronym for ‘Know Your Customer’. KYC is commonly used to describe the ‘Client Identification’ Process and it is a one-time requirement applicable for all Unit Holders, including Guardians and Power of Attorney holders but excludes Nominees, Minors

The Securities and Exchange Board of India (SEBI) has prescribed certain requirements under the Prevention of Money Laundering Act 2002 for Financial Institutions and Financial Intermediaries including Mutual Funds to ‘know’ their Customers. The KYC process helps prevent money laundering and other suspicious transactions.

CKYC refers to Centralized KYC (Know Your Customer) which came into effect from February 01, 2017. The main objective is to have a single platform which facilitates investors to complete their KYC only once before interacting with various entities across the financial services sector.


• All Financial Transactions and
• Non Financial Transactions

(For existing SIP / STP / DTP registrations, KYC norms are applicable on the date of acceptance of the request, unless specifically mentioned.


A PAN exempted KYC (PEKRN) would be needed to invest in Mutual Funds. An identity proof in lieu of PAN needs to be provided. (Refer form for the list of documents). Individuals, Minors, Sole Proprietor, Joint Holders can invest with a PAN exempt KYC.
The total investment (including fresh purchase, additional purchase, switches and SIP installments) in a rolling 12 months’ period or financial year i.e. April to March should not exceed Rs. 50,000 for a PAN exempted KYC.


New Investors can complete the KYC process online through our website
Please follow the below steps:

  1. Go to dspim.com/invest
  2. Click on ‘New KYC’
  3. Enter PAN Number, Name, Email, and mobile Number and click on “Verify Contact Details’
  4. Click on Signzy Video KYC
  5. Please ensure to use a video enabled device. Upload Proof of identity, Address, Cheque Leaf and Signature and complete your KYC

Alternatively, Individuals can submit the physical form to any of our branches or CAMS Investor Service Centres near you.

Non Individuals can submit the physical form to any of our branches or CAMS Investor Service Centres near you.

Existing investor can modify their KYC online through our website
Please follow the below steps:

  1. Go to dspim.com/invest
  2. Click on ‘Modify KYC’
  3. Enter contact details and verify with OTP
  4. Please ensure to use a video enabled device. Upload Proof of identity, Address, and Signature and complete your KYC

Alternatively, Individuals can submit the physical form to any of our branches or CAMS Investor Service Centres near you.


For completing the KYC process, investor has to submit any one of the following Officially valid document (OVD) defined as per Rule 2 (d) of Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 (PML Rules) as Proof of Identity (POI) and Proof of Address (POA):

S.No. Document Proof of Identity (POI)* Proof of Address (POA)*
1 Passport Yes Yes
2 Driving licence Yes Yes
3 Aadhaar (Preferable) Yes Yes
4 Voter's Identity Card issued by Election Commission of India Yes Yes
5 Job card issued by NREGA duly signed by an officer of the State Government Yes Yes
6 Letter issued by the National Population Register containing details of name address Yes Yes
7 Any other document as notified by the Central Government in consultation with the Regulator Yes Yes


KRA Validated Status: Wherever KYC Registered Agency (KRA) can independently validate;

  1. The POA/POI document with the source data [such as Income Tax Department (ITD) database on PAN, Aadhaar XML/DigiLocker/m-Aadhaar),
  2. PAN-Aadhaar linking was successful or Not Applicable,
  3. Email and/or Mobile is validated,

KYC status will be tagged as “KYC Validated”. In such instances, investor can transact seamlessly with any other SEBI registered intermediaries without production of KYC documents, provided there is no change in KYC information already available.

At present, where Aadhaar is used OVD for KYC processing, the same can be validated with the source data independently by KRA.

KYC Registered Status: Wherever KRA cannot independently validate the information at their end with the POA/POI document source data but Email and/or Mobile is validated and PAN-Aadhaar linking was successful or Not Applicable, KYC status will be tagged as “KYC Registered”.
In such instances, investor can transact with any other new SEBI registered intermediaries by producing the KYC documents again, even if there is no change in KYC information already available.

KYC On Hold Status: For instance, where Email and/or Mobile is not validated – KYC On-Hold
Investor will be required to resubmit valid Email and/or Mobile with the existing Intermediary or through any other Intermediary.
Please refer to the below table for more details:

KYC Status Existing with DSP AMC New to DSP AMC
KYC Validated No implications. Investor can transact seamlessly. No implications. Investor can transact seamlessly.
KYC Registered All financial transactions only in the AMC where investor already has investment Investor needs to submit full set of KYC documents every time they invest with a new AMC.
KYC On hold Investors will be able to transact only after remediating the reason for KYC on hold Investors will be able to transact only after remediating the reason for KYC on hold


NRI investors can invest in mutual funds with KYC Status as KYC Validated or KYC Registered

They should complete the KYC by submitting Aadhaar as OVD proof, giving valid email id and mobile so that they can invest with DSP MF or any other mutual fund.
In case it is not an Aadhaar based KYC, NRI investor will have to resubmit the KYC documents every time they approach a new Mutual Fund for investment.



You can send an email from your registered email ID to [email protected] or call us on 1800 208 4499 from your registered mobile number to update your KYC Status.


You should intimate your change of Name/Address/Contact Details/Status/Signature etc. to a point of service (POS) of the KRA or the AMC office.

Individuals can submit a Change in Details Form or CKYC Form along with the required documents
Non Individuals need to submit a fresh KYC form along with the required documents.


You need to complete the "Know Your Customer" (KYC) verification before you can begin investing in mutual funds.

Please click here to check if you are KYC complied. If you do not have a completed KYC, you can complete your KYC online, through our website click here.

Once you have completed your KYC verification, you may invest using the DSP app available on the Play Store as well as on the App Store or by visiting our webiste click here


If you are using the DSP App:

  1. Please log-in to your account
  2. Click on New Transaction
  3. Choose Invest or SIP
  4. Select folio number
  5. Choose the scheme you wish to invest in
  6. Enter the amount
  7. Choose the mode of payment
  8. Review & enter OTP
  9. Proceed for payment

If you are using the DSP Website:

  1. Please log-in to your account
  2. Click on New Transaction
  3. Choose Lumpsum or SIP
  4. Select folio number
  5. Select scheme and enter amount
  6. Select the payment mode through which you wish to purchase
  7. Review your purchase
  8. Enter OTP
  9. Proceed to pay

Alternatively, you may submit the physical form to any of our branches or CAMS Investor Service Centres near you.

If you are a MF Distributor and looking to initiate a purchase on behalf of your investor, you may do so using our IFAXpress App or the IFAXpress website www.dspim.com/ifaxpress.


Any child below the age of 18 years can invest in DSP Mutual Fund under his/her name however he/she cannot operate accounts on their own. Once the folio is created in physical mode, the guardian can transact online on https://www.dspim.com/invest/ on behalf of the minor.
The investment will be done under a guardian; either parent or court appointed guardian.

Documents needed to open a folio in a child’s name:
• Duly filled in common application form
• KYC of the Guardian
• Payment towards subscription/investment shall be accepted from the bank account of the minor, bank account of the parent or legal guardian of the minor, or from a joint bank account of the minor with parent or legal guardian
• Redemption bank mandate should be of the minor or a joint bank account of the minor with the parent or legal guardian
• Date of Birth (DOB) proof of minor which is Birth Certificate, Passport, School Leaving Certificate/Marksheet issued by HSC Board of the respective state or any other suitable proof evidencing the DOB of Minor
• Court order in case of Court appointed legal guardian


a. eNACH (NACH = National Automated Clearing House)
b. Cheque: Cheque should made out to "DSP Mutual Fund Collection Account"
c. Funds Transfer or RTGS/NEFT: Our bank details will be shared on request
d. UPI (UPI = Unified Payments Interface)
e. One Time Mandate


eNACH, also known as 'One Time Mandate' is a one-time online registration process that allows you to seamlessly initiate all future investments with DSP in a completely digital manner.

It is a completely paperless process that lets you authorize your bank to debit your account up to a certain limit that you set up yourself.

This debit will happen through National Automated Clearing House (NACH) created by National Payments Corporation of India (NPCI), which is set up under a mandate from the Reserve Bank of India in 2008.


Both are essentially the same. However, OTM is registered via a physical form and eNACH is registered online through our website dspim.com

Most investors prefer eNACH as it is paperless and therefore very convenient.


• Make a purchase or register a SIP without the hassle of writing cheques or bank transfers.
• Register a SIP just 5 days after eNACH is registered in your folio.
• It is available for investing in all open ended schemes of DSP Mutual Fund (except DSP Liquid ETF)


  1. Log-in to your account on invest.dspim.com
  2. Click on Register eNACH
  3. Enter your bank details
  4. Enter the OTP
  5. Done!


33 Banks (authorized by NPCI) currently support eNACH. Here is a list for your quick reference:

S.No. BANK NAME
1.    Andhra Bank
2.   AU Small Finance Bank
3.   Axis Bank Ltd
4.   Bank of Baroda
5.   Bank of Maharashtra
6.   Canara Bank
7.   Central Bank of India
8.   City Union Bank
9.   Deutsche Bank AG
10.   Development Credit Bank Ltd
11.   Dhanlaxmi Bank Ltd
12.   Equitas Small Finance Bank Ltd
13.   Federal Bank Ltd
14.   HDFC Bank Ltd
15.   ICICI Bank Ltd
16.   IDBI Bank Ltd
17.   IDFC Bank Ltd
18.   Indian Overseas Bank
19.   IndusInd Bank
20.   Karnataka Bank Ltd
21.   Kotak Mahindra Bank Ltd
22.   Oriental Bank of Commerce.
23.   Paytm Payments Bank Ltd
24.   Prime Cooperative Bank Ltd
25.   Punjab National Bank
26.   Ratnakar Bank Ltd
27.   South Indian Bank Ltd
28.   Standard Chartered Bank Ltd
29.   State Bank of India
30.   Tamilnad Mercantile Bank Ltd
31.   The Cosmos Coop Bank Ltd
32.   Union Bank of India
33.   Yes Bank


In most cases, eNACH is registered in two working days from the date of registration. Once the eNACH Bank is registered on your folio, an e-mail and SMS confirmation will be sent to you on your registered details.


No, there are no charges.


Yes. You can cancel the eNACH online however cancellation will be allowed only if there are no underlying active SIPs linked to that eNACH. Please click here to cancel the eNACH


First, don’t worry. This usually happens because of a payment failure at your bank’s end or at times even due to poor internet connectivity.

Rest assured, if your account has been debited, we will definitely allot you the units after receiving a confirmation from your bank.

If your units are not allotted within 2-3 days, please email us at [email protected] or call us on 18002084499 / 18002004499.


You may redeem your units using our App available on the Play Store as well as on the App Store or by visiting www.dspim.com/invest/
If you are using the DSP App:

  1. Log-in
  2. Click on redeem
  3. Choose the scheme you wish to redeem from
  4. Enter units or amount
  5. Enter OTP which is sent on your registered email id/mobile number
  6. Click on continue

Alternatively, if you still prefer to do things old school, you may submit a transaction form to any of our branches or at any CAMS Investor Service Centres near you.

If you are a MF Distributor and looking to initiate a redemption on behalf of your investor, you may do so using our IFAXpress App or the website www.dspim.com/ifaxpress

If you get stuck at any point, please call us at 1800 208 4499.


It usually takes between T+ 1-5 business days for the money to be transferred to your registered bank account depending on the scheme you have redeemed.

‘T’ here stands for transaction day. ‘Business Day’ is a day other than Saturday and Sunday or a day on which the Banks in Mumbai or BSE or NSE or RBI are closed.

T+1 - Liquid/Fixed Income schemes
T+2 - Equity & Hybrid Schemes
T+5 - International/ Fund of Fund schemes


The redemption proceeds are paid directly to your registered bank account through RTGS/NEFT, provided we have your complete core banking account details.

In the absence of core banking account details, a cheque will be sent to your registered address. Please ensure you have your correct/latest address updated with us.

Also, to get your redemption proceeds on time, we request you to verify your bank details by creating an account on our App, available on the Play Store as well as on the App Store or by visiting www.dspim.com/invest/.


If there are non-business days after you placed the redemption request, or if the redemption has been done post cut off, there may be a delay of 1-2 days in receiving your redemption proceeds.

The payout mechanism (RTGS/NEFT or cheque) is mentioned on your account statement. We always endeavour to transfer the redemption proceeds to your registered bank account or to send the cheque as per the above mentioned payout cycle.

If it’s been 3-4 business days since you placed your redemption request and you still haven’t received the funds, please call us on 18002084499 or write to us on [email protected].


Unfortunately, this is not possible in one single step. As per regulations, a change of bank mandate request and a redemption request cannot be processed together. There has to be a gap of 10 days between these two specific requests. This regulatory gap is for your own protection, to reduce fraud and other related operational risks.


We have an ‘Instant Redemption’ facility where we endeavour to send the redemption proceeds to your registered bank account instantly at the time we receive your Instant Redemption request. We use the Immediate Payment Service (IMPS) provided by various banks to manage this and this service is available on all days, at all points of time.


This facility is available only in DSP Liquidity Fund (Growth).


You can withdraw a maximum of Rs. 50,000 or the redeemable balance from your investment in DSP Liquidity Fund, whichever is lower. The minimum redemption limit is Rs. 100.


This facility is available to all investors, except NRIs. Your complete bank account details along with core bank account details must be registered with your account in order to use this facility.


The Instant Redemption Facility is available on the DSP App as well as from our website www.dspim.com/invest/.


Yes, you may switch your investment using our DSP App available on the Play Store as well as on the App Store or by visiting www.dspim.com/invest/

  1. Log in
  2. Click on switch
  3. Choose the scheme you wish to switch from
  4. Click on continue
  5. Select the scheme you want to switch into
  6. Enter units or amount
  7. Enter OTP which is sent on your registered email id/mobile number
  8. Click on continue to confirm the transaction

Alternatively, if you still prefer to do things old school, you may submit a transaction form to any of our branches or at any CAMS Investor Service Centres near you. You may also call us on our toll free no. 1800 208 4499.

If you are a MF Distributor and are looking to initiate a switch on behalf of your investor, you may do so using our IFAXpress App or the website www.dspim.com/ifaxpress.

If you get stuck at any point, please call us at 1800 208 4499.


A switch from one scheme to the other is treated as a redemption from the switch-out scheme and a purchase into the switch-in scheme. Relevant exit loads will apply.

All scheme loads and relevant information is available on any scheme page on our App or our website.


You may subscribe for Units in dematerialized mode by providing details of your demat account in the purchase request submitted by you. Units shall be allotted in physical form by default unless you do not intimate your intention of holding Units in demat form.


All schemes except Daily Reinvestment of Income Distribution cum Capital Withdrawal / Weekly Reinvestment / Payout of Income Distribution cum Capital Withdrawal options under various schemes of the Fund are available to be held in Demat Mode.


In case, you wish to convert your existing units allotted in non-demat or physical mode at a later date in a Dematerialized form, you must fill a Dematerialization request form provided by your Depository Participant and submit the same along with copy of the Account Statement to your Depository Participants.


In case, you wish to Remat your units, the Rematerialisation request should be submitted to your Depository Participant.


Units in demat mode can only be redeemed only through the Stock Exchange Platform or through your Depository Participant. Approach either your stockbroker or your distributor or your Registered Investment Advisor (RIAs) to submit your redemption request. You will not be able to redeem by placing a request with the Fund House.


Yes. Switch is permissible. Units can be switched only through the Stock Exchange Platform. Approach your distributors or your Registered Investment Advisor (RIA) to submit your switch request. You will not be able to switch by placing a request with the Fund House.


For any changes in static information like address, bank details, nomination, contacts etc. you should approach your respective Depository Participant. You will not be able to change these details by placing a request directly with the Fund House.


You should approach your Depository Participant for issuance of an account statement. The AMC/Fund will not send any account statement in respect of Units bought in demat mode or accept any request for statement as the units will be credited in your demat account.