Guide
Documents Required to Start an Online SIP
Starting an online SIP needs surprisingly little paperwork. Here's the complete checklist.
In shortTo start an online SIP you need a PAN, Aadhaar or another address proof for KYC, a recent photograph, and a bank account in your own name, with a cancelled cheque or bank statement for verification. A mobile number and email linked to the account, and nominee details, complete the set.
The essentials
At minimum you'll need: a PAN card (mandatory for all mutual fund investing in India), proof of identity and address (Aadhaar commonly serves both), a bank account in your name, and a passport-size photograph for KYC.
You'll also need your bank details — account number and IFSC — to set up the auto-debit mandate that funds the SIP each month.
For the KYC step
If you haven't completed KYC before, the online process typically asks for your PAN, Aadhaar (or alternative address proof), the photograph, and a short video or OTP-based verification. KYC is one-time and portable across fund houses.
For the bank mandate
To authorise the recurring debit, you register an e-NACH or One-Time Mandate (OTM) linked to your bank account. This usually needs net-banking or debit-card authentication, or a signed physical mandate for some banks. A cancelled cheque is sometimes requested.
Good to have ready
Having your nominee details handy is sensible — adding a nominee at the outset avoids hassle later. An email address and mobile number linked to your PAN/Aadhaar will receive verification codes and statements.
This is general information; exact requirements vary by platform. Consult a SEBI-registered adviser for guidance on the investing decisions themselves.
Sources
- SEBI (KYC (Know Your Client) Registration Agency) Regulations, 2011 Securities and Exchange Board of India
- SEBI circular: Revise and revamp nomination facilities in the Indian securities market (10 January 2025) Securities and Exchange Board of India
- National Automated Clearing House (NACH) National Payments Corporation of India
Rules and rates were checked against these official sources at the last review.
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