How to invest online in SIP?
Posted on: 05/Sep/2017 10:02:57 AM
A SIP (Systematic Investment Plan), where an investor invests a fixed amount of money every month, is the well-known answer. A SIP helps you invest a small amount in a mutual fund scheme of your choice, which in turn manages your investment portfolio.
The investment in SIP or mutual funds is similar:
A minimum amount of Rs. 5000 has to be invested in Mutual Funds. Hence, the investments were rather low. In order to boost the investment, SIP was introduced where a monthly investment of Rs. 500 is required.
Here is the procedure how to start a SIP account and how to invest:
Submit the details required for KYC - Know Your Customer system. Submit the proof of living through a direct test or through the electronic system of EKYC (IPV) to the financing agency.
EKYC Financial houses or registrars:
In case your financial organisation does not approve EKYC, enter the website CAMS KRA and register your data. Open an online account.
Once the KYC is registered and through, visit the website of the mutual fund agency. Search for the option to open a new account. Check the name of the investment plan, SIP, and the date.
Enter your account page and select the mutual fund. Select a SIP date and apply.
Greetings! You have now started your SIP. You need not worry about the fluctuations in the stock market and go ahead and invest in the long-term plan.
