Are you a busy individual who is interested in investing in a mutual fund but lacks the time to open an account? Here is an online way through which you can open the account and invest in mutual fund online.
One can open an account with Asset Management company (AMC), with a large broker or an independent institution such as Fundsmart or Fundsindia.
Also read:7 Myths About Mutual Fund Investments
Now, let us see how to open Mutual Fund account online with AMC
1. Visit the AMC site such as HDFCfund or ICICIprufund or SBIMF
2. Select Invest online option
3. Download the application form
4. Fill the necessary details
5. Enclose all KYC related documents along with KYC form
6. Enclose address proof, ID proof, 2 passport photographs
7. Attach the Cheque or DD copy
Send all the mentioned documents to the address mentioned in the website of that particular AMC.
Once, your documents are verified by the company they generate and send the PIN through which you can do transactions on your own.
How to open mutual fund account online with independent investment houses?
1. One can open their account with portals such as Fundsindia.com and Fundsupermart.com
2. Visit the website, register and fill up the online form.
3. Provide all necessary information i.e. Name, Address, PAN, bank details, etc.
4. Take a printout of the filled account opening form.
5. Attach copies of relevant documents to the form.
6. Send it to the mailing address of the portal.
Once you get the confirmation about account activation on your email, you can start investing. Through which you can invest in multiple mutual fund schemes at the same time.
The only negative point in you have to do all your formalities by yourself. However, some may find it tedious to fill the application and send the documents in required format.