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How To Start Investing In Sip Online?

By Author: Bhagath Varma
Total Articles: 12

Before we explain you how to start investing in mutual funds online, let’s first look at the mandatory requirement without which you anyway can’t invest in mutual funds irrespective of online or offline. As per SEBI guidelines, all investors need to be KYC compliant for investing in a mutual fund scheme irrespective of the investment value. Let’s explain how you can become KYC complaint.

You need to submit the CKYC form and the Common Application form (CAF) of the mutual fund you wish to in for first time investment along with a cheque of Rs.500 for SIP or Rs.1000 for making lump sum investment as you wish. You will need to submit a few other documents like attested copy of PAN card, address and identity proof and passport photographs to complete CKYC.

Once you are CKYC registered, you can start investing online either via any mutual fund distributor portal or through the website of the mutual fund of your preference. If you have chosen to invest through SIP and want to do it online, you can do so only when you have completed your CKYC registration. Our suggestion would be do a one-time investment of Rs.1000 as part of the CKYC process explained above and then start your SIP investment completely online.

Assume that now you are CKYC registered with one of the mutual funds. You can start investing through SIP (Systematic Investment Plan) online with any other mutual fund. It’s that easy! So how do you go about doing a SIP online. Just go to the website of the mutual fund you want to invest in and create an online login user id and password to transact online. Once you get the login account created, you can do any transaction online including online SIP investment. Here you get to link your bank account to your mutual fund folio and the SIP amount gets debited from your account automatically every month on the date of the SIP.

Suppose you’ve decided to invest through SIP in five different mutual fund schemes. Now doesn’t that sound cumbersome to visit five different sites, create five logins, remember the password for each one and then complete the transactions on each site individually? And if that wasn’t enough, you must also login to each of the sites to keep track of your investment. But there is a way around it. AMFI launched its own platform called MFU (Mutual Fund Utilities) in 2015 that allows you to do all of it in one place i.e invest in as many mutual fund schemes as you wish with a common login and track your entire portfolio at one place.

Apart from the common platform offered by MFU, many distributors also provide you the option of investing online in multiple schemes across mutual funds listed on their portal. If you don’t want to invest through a distributor and would prefer to go for a Direct plan, many start-ups have come up in the mutual fund industry to address this need of yours. You can create your portfolio on any of these Direct platforms and invest in the mutual funds listed on these platforms.
Next time invest in mutual funds online now that it sounds so simple. Yes, indeed it is straightforward once you have completed the CKYC formalities.

If you still have any queries on how to invest in mutual funds online and are wondering if that’s safe enough, don’t forget to read a bit on this by visiting this awesome site www.mutualfundssahihai.com that has been created by the mutual fund industry body, AMFI, in the best interest of investors like you.

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