Have you ever thought of investing in mutual funds? If you’re at a point in your life where you want to diversify your savings and investment options, you can open a mutual funds account. Nationlearns is discussing the step to open a Mutual fund.
1.Register with an AMC -As a first-time investor, you can find a suitable Asset management company and invest in a mutual fund online by registering with an AMC. These AMC websites are usually very user-friendly and provide straightforward instructions about how to make these investments seamlessly. Simply complete an application with your personal and investment information, make a deposit, complete your KYC with adequate proof of identity and address, and submit it. Depending on how quickly the AMC handles your request, your account will be established within a few hours.
2.Via a Demat account, you can invest in mutual funds- A Demat account essentially is like a central repository that holds all your investments in one place. In India, NSDL and CDSL are the two depositories that govern all the Demat accounts. The added benefit of investing in mutual funds via a Demat account is that it is way more secure than a trading account and the chances of fraud, theft, and any other form of malpractice are way lesser. It’s relatively easy to open a Demat account with any large stockbroker listed on the BSE and NSE. All you need to do is identify a reliable depository participant, fill the application form, provide your PAN details, submit any additional documents, and voila! Most of them require an in-person verification as well after which you’re provided with your account details through which you can keep a tab of all your investments.
3.Join forces with independent players- Many businesses in the BFSI sector have discovered that there is a lack of understanding about investments. These aggregators provide more than just the ability to open a mutual fund account online; they also provide expertise, in-depth research, and comparison on various mutual fund schemes, as well as waive transaction fees. It is incredibly simple and painless to open an account with them. You will be granted login credentials to your account on the site, which you can use to make mutual fund investments, after filling out an application form, completing your KYC, and submitting your PAN details along with address proof.
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