# How to change your bank account, address or mobile in mutual funds

Each detail is changed in a different place. Knowing which saves a rejected request.

Full page: https://discovermf.com/guides/update-bank-address-mobile
Last checked 23 Oct 2026, from DiscoverMF.

Your bank account, nominee and contact details are recorded in each **folio** you hold with a fund house. Your address is part of your **KYC record** with the KRA, which also keeps a verified mobile number and email.

## Bank account

The bank account in a folio is where redemptions and IDCW payouts are paid.

1. Sign in to the fund house's website or app, [MF Central](https://discovermf.com/guides/mf-central), or the website of the registrar that serves the fund house (CAMS or KFintech).
2. Choose the change of bank request and add the new account.
3. Upload proof that the account is in your name: a cancelled cheque with your name printed, or a recent bank statement or passbook page. Some fund houses check the account with a small credit instead.
4. Confirm with the OTP. On MF Central you can make the change for several folios in one request.

Individuals can register up to five bank accounts in a folio and choose one as the default for payouts. Adding the new account before closing the old one keeps payments flowing.

> As a safeguard, a fund house can hold a redemption paid to a newly added bank account for up to 10 days after the change. Check the fund house's terms, and make the change well before you plan to redeem.

Changing the payout bank does not move a SIP. The SIP is paid from the account on its bank mandate until you register a mandate on the new account.

## Mobile number and email

Both are verified by an OTP sent to the new number or address.

- **In your folios:** change them on the fund house's website or app, or on MF Central, which can apply the change across your folios.
- **In your KYC record:** change them on a KRA's website with a KYC modification.

Keeping both the same means the KRA's checks and the fund house's alerts reach you. A mobile number or email can be your own or, with a declaration, a family member's: a spouse, a dependent child or a dependent parent.

## Address

Your address comes from your KYC record, so it is changed with the KRA.

1. If your KYC is Aadhaar-based, update the address in Aadhaar first, then modify your KYC online on a KRA's website with Aadhaar. The new address is taken from it.
2. Otherwise, submit a KYC modification form with proof of the new address, such as a passport, voter ID or driving licence, at a fund house branch or a CAMS or KFintech service centre.

Once the KRA has updated the record, the fund houses where you invest receive the change.

## Questions

### Can redemptions be paid to someone else's bank account?

No. They are paid only to an account registered in the folio and held in your name, alone or jointly.

### Do I have to change my bank account at every fund house?

The bank account is held per folio, so each fund house needs the change. MF Central can make it for folios at several fund houses in one request.

### Does a change of bank stop my SIP?

No. The SIP keeps being debited from the account on its mandate. Register a mandate on the new account to move it.