How to Apply for a Mutual Fund Identification Number (MIN)?

by Vinaya HS on January 15, 2007

in Finance

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Getting your PAN was a headache. Now you need to get a MIN too. It’s time to bring out the Aspirin bottle. Why can’t we make it simple on ourselves and use our PAN as our MIN (or whatever!). While the policy makers slug it out, if you badly need your MIN, here’s how you get it.

{ From a Fidelity India FAQ }

What is a MIN?

MIN is a Mutual Fund Identification Number. This is issued to an investor after obtaining necessary documents like Photograph, Proof-of-Identity, Proof-of-Address, documents pertaining to registration, etc.

Since an investor generally invests with more than one Mutual Fund, it was felt by the Mutual Fund industry that the whole Know Your Customer (KYC) process could be carried out at a single window and by issuing a single number. The Mutual Fund Industry has appointed CDSL Ventures Limited (CVL), a subsidiary of Central Depository Services (India) Limited (CDSL), to issue MINs to investors. CVL has designated various Points-of-Service (PoS) for the purpose of receiving applications and issuing MINs.

This will make it easier for the investor as they do not have to undergo a KYC process with each individual Mutual Fund. It also means that the industry can offer many more PoS where an investor can get a MIN.

Where and how do I obtain a MIN?

The Mutual Fund Industry has appointed CDSL Ventures Limited (CVL), a subsidiary of Central Depository Services (India) Limited, to issue MINs. For this purpose, CVL has appointed some Scheduled Commercial Banks to function as Points of Service (PoS). A list of the PoS is available on AMFI’s website. Additionally, Investor Service Centres (ISCs) of some Mutual Funds would also be designated as PoS and will be available for accepting MIN Applications. Please log on to the website of the Mutual Fund with who you are looking to invest.

Continue reading the MIN FAQ…




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{ 2 comments… read them below or add one }

Humphrey September 17, 2007 at 5:16 AM

This is balls, they make everthing so difficult for NRI’s to invest. I am an NRI and I would like to Invest. Here is what i have to go through. I go to ICICI for an online chat and ask them ‘Hey can I open an online account, I am an NRI in the west indies’ They reply, ‘Sir, you are not considered an NRI, only Indians in USA, UK and some crap countries can be called NRI.’

Then I read about investing in MF from relaince, HDFC and SBI, they all say fill this form and that form and then fax the damn thing to the damn place, then they will send you a PIn number and then you post this and that to that plac and they will send you a MIN number and then still you cannot bloddy invest becuase you don’t have a PAN number.

What the &^(@(&@(*)( is going on. I have an SBI NRE and NRO account and i cannot even trnasfer funds to my parents account on a monthly basis, I can use to trasfer funds to my account in Delhi to my sbi account in cochin. I think i better put my money in the US, at least they respond to my emails and talk sense on the phone. India has a long way to go to simplyfy things.

All that scrap above takes ages to get done, I look at a 2 months, before i get PAN, PIN and MIN to get MF done.

sunila Ramesh Shah May 7, 2008 at 9:55 PM

Please send us Min Number or letter

sunila R shah

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