Joint And Family Accounts on Kuvera

Ever since the launch of the new Kuvera platform, we’ve been bombarded with requests to accommodate joint and family accounts on Kuvera.

Bombarded is the correct term here, ’cause there’s no other way to explain the amount of eagerness our user community has shown for joint and family accounts feature.

What’s not to like about this?!

Be it a tech-savvy youngster managing their parents’ investments, or someone investing with their spouse — it’s mighty convenient to have all your joint and family accounts under on login.

One login to rule them all!

 

As of today, we’re delighted to present you with this option – to create a joint account (multiple investors, in anyone or survivor mode) or individual account (single investor) under a single login as a family account feature.

To be able to view this screen, you need to find the switch icon on the navbar, left of the cart icon.

 

 

But How do I Set Up Another Account Under the Same Login?

Here goes the process.

 

You’ve to start with the Add New Account link from the switch account screen.

Once you’ve decided to create an individual account, the process is very similar to what you did when you signed up for the first time.

Except, much easier!

No one likes to fill up forms on the web. So how about we reduce that workload on the user?

Instead of entering PAN, mobile number, date of birth over and over; you can select from users you’ve already added if they’re KYC verified.

Here’s the same screen for a joint account. Notice that this would be created in Anyone or Survivor mode.

 

For Joint Account, the difference is now you’ve to go through three stages of adding applicant — Primary Holder, Second Holder, Third Holder.

And you cannot add the same applicant twice.

At any stage, you can choose applicant, from the list of applicants you had added earlier; or you can use the Add New Applicant link to add a new KYC verified applicant.

For Joint Accounts, the third holder is optional.

Once you complete this step — either select individual holder from this list, or add a new individual holder who is KYC verified; you would be taken to a confirmation screen, where you can verify and confirm these details.

Refer to similar step for Joint Account setup below

If the account holders are what you’d want, then you need to hit CONFIRM button to go to the next step. Otherwise, you can go back and edit account holders.

This would take you to the bank setup page.

Even here, you’d see options to select banks you have already added — because again, who likes to fill up forms!

You can either select an existing bank from the list of banks you’ve added previously, or add a new one.

 

Mind you, the bank you add for a new Kuvera account (joint or for a family member) must have one of the account holders’ listed in the bank account.

Which is why you have to select the checkbox before proceeding.

Once your account is all set up, you can start investing and managing all your joint and family member accounts under one login. The simplicity of the Kuvera interface merged with the power of managing multiple accounts in one place.

FAQ: Can I Set Up Minor and HUF Account on Kuvera?

You cannot use the above setup, as of yet, to create a minor account or HUF account. That being said, we’re working on these and will release once we’ve tested internally. Stay tuned!

FAQ: A family member has an existing account with Kuvera. Can I link this account as a family account under my login?

No, an existing family member account (of your wife, husband, father etc) cannot be linked under your login as a family account. We are building a “Master Account” functionality which will allow this.

Log in today and consolidate all your Joint and Family accounts under one login. Benefit from all the other goodies, 1-Click switch to Direct Mutual Fund plans and Goal planning.

 

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5 Responses

  1. Panneer Selvam S says:

    Sir, I and spopuse have separate accounts and imported our portfolios. Till now we could not enable smart switch because of not having enough coins. Is there any alternative way. Kindly reply how could we use whatsapp method you were replied to a querry. How could we manage our accounts in a convenient way. I wish to change my investments in direct plans soon after they get out of exit load time by time. Kindly reply and guide me

  2. pragnesh radadiya says:

    what about adding existing family account ?

    • Gaurav Rastogi says:

      You cannot link multiple existing accounts under the “Family Account” feature. We are building the “Master Account” feature that will allow linking multiple existing accounts under one login. We expect this to be available by the middle of next month.

  3. It seems to be good approach, let’s verify.

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