Can I and my wife invest in the same folio of an AMC using eKYC

Thanks for writing to us. You and your wife can not invest in the same folio if the first holder’s name changes.

For example – you are the first holder and your wife the second holder in a folio, then you can invest upto Rs. 50,000 in this folio using eKYC. However, if you want to invest another Rs. 50,000 in the same AMC and where the first holder is your wife and you are the second holder, then you can not invest in this folio. You will have to invest through another folio using eKYC with a limit of Rs. 50,000.

This is just because the mutual fund folios are created on the basis of holding pattern and on the order of the holders name.

Therefore, in conclusion, if you want to invest Rs. 100,000 using the eKYC then you can invest in the same AMC and even same scheme but through two different folios. In one folio you will be the first older and your wife the second and in the second folio your wife will be the first holder and you the second holder.