Bank Modification
Need to change your bank details for mutual fund transactions? This guide covers the step-by-step process, required documents, processing time, and common queries for both online and offline changes. Follow the instructions to ensure a smooth transition to your new bank account.
To update your bank account, follow these steps: Log in to the MF Central website . If you are a new user, register using your PAN and mobile number. Nav...
Thu, 13 Feb, 2025 at 4:13 PM
You need to upload any one of the following documents as proof of your new bank account: A canceled cheque with your name printed on it. A recent bank st...
Thu, 13 Feb, 2025 at 4:19 PM
The update usually takes 2-3 working days to reflect in your folios after successful authentication and verification.
Thu, 13 Feb, 2025 at 4:21 PM
Yes, you can update your bank account offline by following these steps: Download the Bank Account Change Form from the mutual fund’s website, CAMS, or KFi...
Thu, 13 Feb, 2025 at 4:23 PM
Yes, you must be a registered user to update your bank details online. If you are a new user, you can register using your PAN and mobile number.
Thu, 13 Feb, 2025 at 4:26 PM
You will receive a confirmation email or SMS once your request has been successfully processed.
Thu, 13 Feb, 2025 at 4:27 PM
If your request is rejected, check for the following reasons: Incorrect or mismatched details in the form. Uploaded documents are unclear or do not conta...
Thu, 13 Feb, 2025 at 4:34 PM
Some mutual funds allow adding multiple bank accounts, but MF Central currently allows updating only one primary bank account at a time.
Thu, 13 Feb, 2025 at 4:35 PM
No, updating your bank account details on MF Central is free of charge.
Thu, 13 Feb, 2025 at 4:37 PM
Yes, you can use a joint bank account, but ensure that your name is listed as an account holder, and the supporting document clearly mentions it.
Thu, 13 Feb, 2025 at 4:38 PM