How to Open a Sehl or Sahulat Mutual Fund Account in Pakistan: Rs 1 Million and Rs 3 Million Limits

Short answer: The SECP is reported to have raised the limit of a Sehl mutual fund account from Rs 200,000 to Rs 1 million and a Sahulat mutual fund account from Rs 1 million to Rs 3 million, on 14 May 2026. If you already have a bank or wallet account, you are reported to need no second KYC check.

Many first-time savers in Pakistan stay away from mutual funds because the paperwork looks heavy. Two small account types were made to remove that barrier. They are called Sehl and Sahulat. Both are for low-risk mutual fund investing through an asset management company (AMC), the firm that runs the fund.

A word of care first. We could not open the Securities and Exchange Commission of Pakistan (SECP) press release of 14 May 2026 on secp.gov.pk, because the site blocked our request. The figures below are therefore reported from press coverage of that release. Confirm the limits with your AMC before you invest.

Sehl and Sahulat are low-risk fund accounts with a set limit

A Sehl account and a Sahulat account are simplified mutual fund accounts for small investors. Each has an investment limit, so it suits a beginner who is not ready to put in large sums. The SECP regulates both through the AMCs.

These are not the same as the PSX Sahulat account for trading shares. That one is a stock broker account with its own limit, which we explain in how to open a PSX Sahulat account with a CNIC. The mutual fund version is opened with an AMC, not a stock broker.

The May 2026 limits rose to Rs 1 million and Rs 3 million

As reported, the Sehl limit rose from Rs 200,000 to Rs 1 million. The Sahulat limit rose from Rs 1 million to Rs 3 million. The yearly investment caps that used to apply were also removed, so you can invest and redeem more freely.

Which account you get depends on how the AMC offers it. Ask the AMC which of the two you qualify for. We did not find a published rule that tells a saver which one to pick, so the AMC's answer is the one that counts.

You may not need a second KYC check

KYC means "know your customer", the identity check a financial firm must do. As reported, if you already hold an account with a bank, a microfinance bank or an electronic money institution (such as a wallet company), you need not repeat the full KYC with the AMC for these two accounts.

The SECP is also reported to have eased the extra checks for opening an account online. The online process uses fingerprint or face verification and a liveness check. A liveness check confirms that a real person, not a photo, is in front of the camera.

This saves time but does not remove the basics. Expect to give your CNIC, your bank account details and answers to a risk questionnaire. Keep your own phone and your own bank account ready, because the AMC will move money only from an account in your name.

Open the account in five steps

The steps are the same ones we describe in the general mutual funds guide. Choose a licensed AMC, apply online, verify yourself, pay from your own bank account, and keep the confirmation.

1. Pick an AMC that appears on the members list of the mutual funds association, MUFAP.
2. Ask the AMC for its Sehl or Sahulat account form and check the limit it offers.
3. Apply online with your CNIC and complete the face or fingerprint check.
4. Pay from a bank or wallet account in your own name, never in cash to an agent.
5. Save the unit confirmation, or account statement, the AMC sends you.

For how fund units, NAV and fees work, read how to invest in mutual funds in Pakistan with a CNIC. It also lists the sales load and expense ratio to check.

Low risk does not mean no risk

A mutual fund can lose value, even a cautious one. A bank savings account pays a stated rate on a deposit. A fund's unit price moves up and down with what it holds. Read the fund's risk label and fact sheet before you buy, and never treat past returns as a promise.

Compare what you could earn against the other options. National Savings and banks pay stated rates, which we track in National Savings profit rates from 1 October 2026 and savings account profit rates at banks. Government bills are another route, covered in how to buy T-Bills and PIBs from Rs 5,000.

Zakat can also apply to fund redemptions unless you file a declaration. The mutual funds guide explains the Zakat declaration. Ask your AMC for the form when you open the account.

Check your AMC before you send money

Only deal with an AMC that is licensed by the SECP and listed with MUFAP. If a person offers "guaranteed" fund returns or asks for cash, walk away. Fund units are never guaranteed, and money should go only to the fund's account in the AMC's name.

If an AMC treats you unfairly, the SECP has a complaint process for investors. We also suggest keeping every email and the date of each transaction. For a stock broker rather than an AMC, use our check on whether your stockbroker is a PSX TREC holder.

Common questions

What is the limit of a Sehl account for mutual funds?

It is reported to be Rs 1 million after 14 May 2026, up from Rs 200,000. Confirm it with your AMC.

What is the limit of a Sahulat mutual fund account?

It is reported to be Rs 3 million, up from Rs 1 million. This is a different account from the PSX Sahulat share trading account.

Do I need to repeat KYC if I have a bank account?

As reported, no. Holders of accounts with banks, microfinance banks and electronic money institutions need no separate KYC for these two accounts.

Is there still a yearly investment cap?

The earlier yearly caps are reported to have been removed. The account limit itself still applies.

Can I lose money in a Sehl or Sahulat account?

Yes. These accounts only set simple opening rules and a limit. The fund you choose still carries market risk.

How we verified this

What we checked, where we read it, and what we could not confirm.

We checked the story on 14 October 2026. The SECP press release dated 14 May 2026 on secp.gov.pk would not load for us, so the limits are reported, from press coverage of that release. We did not open an account. For the fund rules, we used the mutual fund association MUFAP and the SECP, whose sites you can open yourself at mufap.com.pk and secp.gov.pk.