SIP: How to start it online and which documents are required?

The new financial year has begun and many investors might be thinking of starting new investments. In case you are planning to invest ...



The new financial year has begun and many investors might be thinking of starting new investments. In case you are planning to invest in mutual funds then SIPs are the finest way to invest. There are myriad of investors, who want to begin investing via Systematic Investment Plan (SIP) in an equity mutual fund scheme, fear the paper work. Well, the point is that you don’t have to tackle with papers or exercise your leg.   The point is that these days you can even start sip online too.

 Of course, if you were thinking How to start sip then here you go. The foremost thing you require to do before beginning an SIP is fulfilling the: Know Your Customer (KYC) need. KYC is a must to do investment in mutual funds. You would have to submit an identity proof, address proof and of course a photograph. You must also confirm your physical existence via an In-Person Verification (IPV). Of course, you can finish all these needs electronically through eKYC. Most of the fund houses have started catering this facility through their website. You simply have to tap or click on the ekyc link and have to follow the instructions given therein. Remember the exact steps for eKYC differ mildly with every fund house. However, broadly the structure always remainsthe same.

Basic Information
The system would foremost prompt you to enter all the personal information in an online form. It shall include name, date of birth, address, mobile number and so on.Then in the next step, you would have to upload a scanned copy of your PAN (Permanent Account Number) card along with an address proof.Once you have formed the account, simply login, pick the direct mutual fund appscheme, choose an SIP date and deposit your request.  Congratulations, this way you successfully finish the procedure and make your sip account.

Working of sip
Once you decide to invest in the scheme of a mutual fund via SIP, the decided sum is auto-debited from the bank account (you require to mention your bank account from where the amount shall get deducted). This is the amount that particularly is treated as a mutual fund scheme. A specific number of units based on the Net Asset Value are handed over to you and that is prevalent on the buying date. In case you are not in favour of getting the sum deducted from your bank account, you can even handover cheque coupled with the (filled) enrolment form. Also, the mutual fund will deposit your cheque on the demanded date and simultaneously, credit the units to the account you have along with the confirmation.

The earlier you begin to invest in SIP the possible growth will get fruitful. Via SIP, once you invest the (same) amount frequently over-time, you incline to purchase more units when the cost if lower and vice-versa. Hence, the average cost per unit (or per share) is diminished. Not to skip thatSIP ends up in catering reasonable returns in the designated time.

Conclusion
So, if you haven’t pondered about SIP so far, it is time that you give it a try.

COMMENTS

Name

Amazon Market,4,B2B,5,Best Pool Cleaner,1,Business,20,Digital Service,7,Fashion,2,Finance,13,GameZone,1,Health,2,Innovation,2,Insurance,1,lawyer,1,Marketing,9,novannacleaning,1,Small Business,8,symbol mattress reviews,1,ThePunder,1,
ltr
item
Finance Press: SIP: How to start it online and which documents are required?
SIP: How to start it online and which documents are required?
https://2.bp.blogspot.com/-4beglw-A0v8/XLWGVjefwUI/AAAAAAAACKQ/gh7r-K5O6uUo25UTMPMbyIH7LLqhK23jACLcBGAs/s640/sip.jpg
https://2.bp.blogspot.com/-4beglw-A0v8/XLWGVjefwUI/AAAAAAAACKQ/gh7r-K5O6uUo25UTMPMbyIH7LLqhK23jACLcBGAs/s72-c/sip.jpg
Finance Press
https://www.financepress.net/2019/04/sip-how-to-start-it-online-and-which.html
https://www.financepress.net/
https://www.financepress.net/
https://www.financepress.net/2019/04/sip-how-to-start-it-online-and-which.html
true
7815709800690100140
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy