Guide to Completing Your KYC as an NRI

July 26, 2023
Title: A Comprehensive Guide to Completing Your KYC as an NRI with Yield Introduction: Investing in fixed income assets has become increasingly popular, not only for residents in India but also for Non-Resident Indians (NRIs) looking to diversify their portfolio and achieve financial goals. Just like any other investor, NRIs are required to comply with the Know Your Customer (KYC) process, which ensures the legitimacy of financial transactions and promotes transparency. In this blog post, we will guide you through the essential steps of completing your KYC as an NRI with Yield, India's premier fixed income investing app. Step 1: Determine Your NRI Status Before beginning the KYC process, it is crucial to understand your NRI status. You are considered an NRI if you are an Indian citizen living abroad or a person of Indian origin, which includes both PIO (Person of Indian Origin) and OCI (Overseas Citizen of India) status holders. This classification will help you streamline the KYC procedure and the necessary documentation. Step 2: Collect Required Documents To complete your KYC with Yield, you will need to gather specific documents, including: 1. Proof of Identity (POI): A valid passport is typically required as proof of identity. Make sure to have a scanned copy of all the relevant pages, including the personal information and address pages. 2. Proof of Address (POA): A current overseas address proof, such as a utility bill, bank statement, or residence permit, should be provided. The document must not be older than three months. 3. PAN Card: If you have an existing Permanent Account Number (PAN) card, ensure that it is valid and linked to your current address. 4. Overseas Address Proof: This document verifies your current overseas address. Valid documents can include bank statements, utility bills, driving licenses, or any government-issued documents bearing your residential address. 5. OCI or PIO Card: If you have an OCI or PIO card, include a copy of the same as part of your KYC documentation. Step 3: Complete the KYC Process Once you have gathered all the necessary documents, follow these steps to complete the KYC process with Yield: 1. Download the Yield App: Visit the Google Play Store or Apple App Store and download the Yield app on your smartphone. 2. Sign Up or Log In: Create a new account or log in to your existing Yield account. 3. Submit KYC Documents: Navigate to the KYC section within the app and upload the scanned copies of your PAN card, passport, overseas address proof, and any other relevant documents. Ensure that the documents are clear, legible, and within the specified file size and format limits. 4. Provide Personal Information: Fill in the required personal information, including your full name, date of birth, email address, phone number, and nationality. 5. Verification Process: Once you have submitted your KYC documents and personal information, Yield's team will review the information provided. This process may take a couple of business days. In case of any discrepancies or additional information required, Yield's support team will get in touch with you. 6. Confirmation and Account Activation: On successful verification, you will receive a confirmation email or notification. At this stage, your account will be activated, and you can begin exploring Yield's range of fixed income investment options. Conclusion: Completing your KYC as an NRI with Yield is a straightforward process that ensures a seamless investing experience with full compliance to regulatory standards. By following the steps mentioned above and providing the necessary documents, you can quickly activate your account and gain access to a diverse array of fixed income asset classes on the Yield app. Happy investing! Disclaimer: While this guide provides an overview of the KYC process for NRIs with Yield, it is essential to consult with a financial advisor or seek professional assistance for any specific queries or concerns related to your unique situation.