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How To Invest Online In Mutual Funds
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If you are here to figure out how to invest in mutual funds online, we are assuming that you have already understood the difference between savings and investment. You probably have certain financial goals in mind which you wish to achieve through investments in mutual funds. Mutual funds are a great investment option as compared to investing directly in equity (stocks) as far as wealth creation is concerned.
When people start thinking about how to invest money online, they are primarily thinking about trading in stocks which is considered risky by most people. But Mutual funds offer an opportunity to build wealth over the long-term through various schemes and plans that may help you manage the volatility better than directly investing in stocks. There are convenient and liquid as compared to other avenues like bank FDs, PPF and post office saving schemes that primarily are suitable for saving purpose.
To get started, an investor has to be KYC complaint with any of the registered Mutual Funds or AMCs as they are known as per SEBI guidelines. You can also get this done through the registrars like CVLKRA or CAMSKRA or KARVY. KYC compliance is mandatory for all investors irrespective of the investment value. In case of a joint holding, all holders in the account need to be KYC compliant.
You can easily get your KYC done by submitting the CKYC form and the Common Application form (CAF) to any of the mutual funds where you wish to invest. The CAF is basically your first investment into a scheme of that mutual fund. Along with the CAF you need to submit 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 the CKYC process.
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. You can view all these on a single page on the Mutual Funds Sahi Hai website. Once you land up on the individual mutual fund’s website, all you need to do is create a user login and password along with other personal and bank account details.
Once the account is created, you can do all your transactions online like buying or selling. You can even view your portfolio and transactions too. You can carry out a host of other things like adding nominee, making changes to your folio, updating personal details, setting up SIPs/STPs/SWPs, creating NAV alerts etc online without having to visit a branch.
Online access to mutual funds has made the process of investing in them completely hassle-free, transparent and easy to manage. This is very useful for retail investor who do not want to invest in a regular plan and would prefer a direct plan for lower expenses.
But you may be wondering that if you wish to invest in the schemes of five different mutual funds, you’ll have to create separate logins on each of their site. Also, you’ll not be able to get a consolidated view of your portfolio at one place. But there is a way out of this too. AMFI has launched its own platform called MFU (Mutual Fund Utilities) that allows you to invest in as many mutual fund schemes as you wish with a common login and track your entire portfolio at one place. That sounds easy, isn’t it? Yes, now you don’t have to create multiple logins, remember multiple passwords and follow different account statements from various AMCs to track your complete portfolio.
Apart from this common platform offered by MFU, many distributors also facilitate investing online in multiple schemes across mutual funds listed on their portal. You can locate a distributor near you from the AMFI website. 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 offering online direct platforms to address this need of yours. As you can see now, once you are done with your financial planning and have decided to invest in MFs online, there are multiple ways to do it.
Next time try to invest in mutual funds online now that you know the process. If you still have any queries on how to start investing in mutual funds online do visit this informative 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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