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.

 


46 Responses

  • Panneer Selvam S

    June 13, 2018 AT 14:18

    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


  • pragnesh radadiya

    June 15, 2018 AT 06:06

    what about adding existing family account ?


    • Gaurav Rastogi

      June 16, 2018 AT 04:14

      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.


  • Charanjeet Singh

    June 15, 2018 AT 07:16

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


  • Brar

    July 14, 2018 AT 11:14

    Can we invest in dividend plans through kuvera please?


    • Gaurav Rastogi

      July 19, 2018 AT 00:45

      Yes, dividend payout options are also available on Kuvera. On the “Explore Funds” page choose the Dividend option.


  • Karthik Kanniyappan

    July 14, 2018 AT 14:36

    Looking forward eagerly for the Master account so that family members can individually log in to their accounts respectfully and view/transact and as well as one person in Family (Typically the investment punter of the family ) can as well view and transact on behalf of any family member. This would be a fantastic way to manage investments under one hoodie as well as independence to each of these members to have their independent logins.


  • Karthik Kanniyappan

    July 14, 2018 AT 14:39

    I m also looking forward eagerly for the Minor accounts… The best way to build child investments is when they are minor is to build corpus individually under their name being a minor and transfer everything once they are major…


  • Dr pradip trivedi

    August 21, 2018 AT 04:05

    Dear sir….For. SIP…Net banking is required or not


    • Gaurav Rastogi

      August 21, 2018 AT 08:39

      Net banking is required to be able to setup mandate to start a SIP.


  • Arjun Suresh

    September 2, 2018 AT 07:19

    Dear Gaurav,
    Could you please comment when the Master account functionality would be enabled. Any forecasted ETA you have in mind would be greatly appreciated. Also, appreciate the great efforts your team as put in on building these services.


  • Subhra

    September 6, 2018 AT 07:25

    Hey kuvera guys, great platform I must say. I use it regularly. Now that I can add my family members and manage their investment is such an amazing and innovative option. I have a query about if I add my family members as second and third account holder and invest in else schemes then who will get the tax benefits?


    • Gaurav Rastogi

      September 7, 2018 AT 00:46

      Hello Subhra, in a joint account, the ELSS benefits can be claimed only by the primary holder.

      Hope this answers your question.

      Regards
      Gaurav


  • Lovneet

    September 9, 2018 AT 12:36

    Do you have SIP plus or reliance SIP insure available ….in Direct growth option ?


    • Gaurav Rastogi

      September 11, 2018 AT 02:15

      Hello Lovneet, SIP plus will launch shortly. We have ICICI SIP insure, Reliance SIP incure and other AMC SIP insure will be added shortly.


  • Pratik

    November 3, 2018 AT 07:21

    Is there any way to see how much dividend has been paid by MF.


    • Gaurav Rastogi

      November 12, 2018 AT 06:49

      We are working on it Pratik. Till then download your CAS for this information.


  • r ralli

    November 9, 2018 AT 14:03

    How to delete a primary acct after archiving


    • Gaurav Rastogi

      November 12, 2018 AT 06:36

      Please deactivate from account settings.


  • Anup Dutta

    November 18, 2018 AT 14:52

    In family account, when we go to settings, it shows the email Id of the primary account and not the ID of the individual additional account which I have added.

    However, the phone number of added individual account is displayed.

    In my opinion, when we see individual detail in account or setting, the Email Id and associated phone number, for the selected account should be displayed. Please look into my suggestion.


    • Gaurav Rastogi

      November 22, 2018 AT 04:51

      Thanks for your feedback Anup. We will look into this.


  • NISHENDU

    December 11, 2018 AT 09:44

    PL PROVIDE PASSWORD FOR OPENING CAS STATEMENT FROM KARVY


  • Saket

    December 18, 2018 AT 16:00

    Can I keep 1 login for both Investment through NRE and NRO account?


  • Stalin DSouza

    February 1, 2019 AT 12:07

    How can I delete the individual accounts?


  • ABHAY PRATAP SINGH

    February 10, 2019 AT 12:30

    I am adding my wife as an individual investor. So, in this case:-
    1. will she get tax benefit for ELSS.As her funds will be ELSS and mine will be non-ELSS.
    2.different bank accounts can be used to for my and my wife’s SIP?
    3. She will get mail of related to her investment ?
    4. She can also open a separate account or she need to login using my credentials?


    • Gaurav Rastogi

      February 11, 2019 AT 00:45

      1. will she get tax benefit for ELSS.As her funds will be ELSS and mine will be non-ELSS.

      If the ELSS is bought in her investment account, only she will get the benefit.

      2.different bank accounts can be used to for my and my wife’s SIP?

      Yes, different investment accounts can have different banks linked.

      3. She will get mail of related to her investment ?

      If you setup an email for her investment account then she will.

      4. She can also open a separate account or she need to login using my credentials?

      If you add her as a family account then she will need to use your login. Else you can setup a separate investment account on Kuvera for her and then add yourself as a manager to that account. https://blog.kuvera.in/managed-accounts-link-and-invest-across-kuvera-accounts/


  • Dr Sachin Shah

    February 14, 2019 AT 16:03

    Hi. I want to set up a family account, but I don’t have the necessary coins. What should I do?


  • Deepak

    March 4, 2019 AT 05:52

    Is opening of HUF account functional now ?
    Wanted to open a HUF and a minor account for my family.
    Please inform when its functional.


    • Gaurav Rastogi

      March 4, 2019 AT 14:28

      Dear Deepak, we will announce publicly once HUF and minor account are functional.


  • Praveen Srivastava

    March 26, 2019 AT 12:03

    I am planning to buy 20 lakhs worth of mutual fund in lumption.Kindly advise how can I do that as after successful entry of OTP and NetBanking details money is not getting deducted from my bank account.


    • Gaurav Rastogi

      March 28, 2019 AT 03:17

      Hello Praveen, for such queries we request you reach out at [email protected]

      It is likely that your third party netbanking limit at your bank is less than 20 lakhs. Please call your bank and update the limit or do the investment in smaller tranches.

      Regards
      Gaurav


  • Brijrajsinh

    April 10, 2019 AT 07:18

    I want to start new sip on my father name under family account but I can not add his name and account number did it required more coins


    • Gaurav Rastogi

      April 10, 2019 AT 13:51

      No, if your family account is already active you should be able to add him to your family account. If you are not able to do so, please email us at [email protected]

      Ps: do ensure your father is KYC approved to start investing.


  • George Varghese M

    April 16, 2019 AT 13:26

    I have a Kuvera account with an NRE account and I want to add an NRO account to my Kuvera account. Since NRIs cannot hold saving accounts, why I cannot add NRO account in Kuvera?


    • Gaurav Rastogi

      April 22, 2019 AT 01:50

      NRI’s can add NRO bank accounts to Kuvera.

      The same folio cannot have investment from NRE and NRO bank accounts as it leads to issues later. So, request you to add family account and add another individual account for yourself. Use the NRO account from here. So you will have two individual accounts – Geroge NRE and George NRO.

      Hope this clarifies.


  • Vijaykumar

    June 8, 2019 AT 14:56

    Hi! I have added my spouse to family account. We both have a common goal. She holds funds in her NRO account and I have funds in my NRE account. Can we do investments from our respective accounts towards the same goal ?


    • Gaurav Rastogi

      June 10, 2019 AT 01:52

      Hello Vijaykumar, we do not support common goals yet. What users have done is –
      1. Divide goals between accounts. Some in account A and the others in account B.
      2. For a large goal, add the goal in both the accounts, with 60% value in account A and 40% value in account B.

      Hope this helps.


  • Kishore. Nimbalkar

    June 21, 2019 AT 09:01

    Good afternoon
    Myself Kishore Nimbalkar have investment. Portfolio with NJ broking and I would like to shift it all in Kuvera
    Kindly guide


    • Gaurav Rastogi

      June 24, 2019 AT 03:00

      Dear Kishore,

      Thank you for writing to our team and welcome to Kuvera.

      Thousands of investors have successfully moved their portfolio to Kuvera to save on regular plan commissions or to take advantage of our advanced investing features.

      To move completely to Kuvera, we recommend the following steps (the entire process is online) –

      1/ Import your existing units to Kuvera so you can track them here
      Setup an account with Kuvera and complete KYC check and bank account set up.
      After logging in, please follow the steps in the Import Portfolio tab. Do read the “Import Portfolio” FAQ: https://kuvera.in/faq/import
      We read and process your Consolidated Account Statement in real time and you can start placing orders in the same folios as your current regular and Direct plans immediately. 

      2/ Move your SIPs from current platform to Kuvera
      START your direct plan SIPs on Kuvera in the same folio as your current plans and then STOP your SIPs with other platforms.
      We will ask you to set up a mandate as part of the SIP placement process
      Ps: if your regular plan platform does not agree to stop your SIPs (saying you need minimum months etc), read this  – https://blog.kuvera.in/how-to-stop-your-sip-when-your-distributor-refuses-to-stop-sip/
      3/ Activate TradeSmart and switch your Regular plan units to Direct plan –
      Go to the “Portfolio” (https://kuvera.in/holdings) page and click on “Manage”
      Choose “Switch” to start switching your regular plans to direct plans

      Hope the above helps. Let us know if you get stuck on any step.