Women Savings Account

Eligibility and Documentation

  • Existing Bank Account Holder: Must hold a Bank Account with an associated customer ID.
  • Savings Bank Account Status: Must hold Single or Either/Survivor status.
  • Bank Account Holding Pattern: The holding pattern must match that of the applicants for the Online Mutual Fund account.
  • Account Opening Application Form: Must be signed by all Mutual Fund applicants.
  • PAN Requirement: PAN (Permanent Account Number) is mandatory for all Mutual Fund investments, regardless of the amount.
    1. PAN Card Attestation: The PAN card copy must be attested by the Indian Embassy. After attestation, PAN cards should be sent to the home branch or relationship manager.
    1. KYC Document Processing: KYC document processing is handled by CVL Ventures Ltd.. Compliance with any specific requirements raised by CVL Ventures Ltd. is mandatory.
    1. Attestation by Relationship Manager: PAN cards must be attested by the Relationship Manager as "Seen Original & Verified" before attaching to the ISA form.
  • Documents to get you started
    1. Bank Account Linkage Letter: Needs to be signed by the Bank Account Holders to link the account to the Mutual Fund.

Frequently asked questions

NRIs can invest in Mutual Funds in India, but there are some restrictions and limitations. Investments must be made in Indian rupees through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. NRIs from countries like the USA and Canada may face additional compliance requirements due to FATCA regulations, and not all Mutual Fund houses accept investments from these countries. Additionally, repatriation of funds might have specific conditions, and NRIs must comply with KYC norms, including providing an attested copy of their PAN card and completing the necessary documentation. It's advisable for NRIs to consult with financial advisors for detailed guidance.

Yes, there are specific regulations and compliance procedures for Non-Resident Indian (NRI) Mutual Fund investors. NRIs need to complete the KYC (Know Your Customer) process, which includes submitting documents such as a copy of their passport, overseas address proof, and a PAN (Permanent Account Number) card. Additionally, NRIs need to invest in Mutual Funds through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. They also need to adhere to the regulations set by the Securities and Exchange Board of India (SEBI) and the Foreign Exchange Management Act (FEMA). Understanding these regulations and compliance procedures is crucial for NRI investors.

Non-Resident Indians (NRIs) can invest in most types of Mutual Funds available in India, including equity funds, debt funds, and hybrid funds. However, there might be some restrictions based on the Mutual Fund house and regulatory compliance, especially for NRIs from the USA and Canada due to FATCA regulations. It’s essential for NRIs to complete the necessary KYC requirements, including submitting an attested copy of their PAN card. Additionally, NRIs should ensure that their investments are made through NRE or NRO accounts to facilitate repatriation and compliance with Indian laws. Consulting with financial advisors is recommended for tailored advice.