With digitilisation in every sphere, if you are looking to start with a SIP, you can do it so in a hassle-free and easy manner online. So, here is a step-by-step guide to get your SIP started online.
SIP a mutual fund class product requires compliance through KYC
For initiating your investment in SIP, you need to get your KYC documents ready including id proof, address proof, fund houses also check for your physical presence through IPV or in-person verification
Other documents required are a passport size photo and a cheque book to provide your banking details for the SIP amount to be deducted on a monthly or quarterly basis depending on the mode of the SIP payment.
For completing the KYC procedure and furnish the necessary documents and details, you can visit the e-KYC facility at any of the fund houses website.
Note KYC done with one house shall be valid for all fund houses. Also for the e-KYC you can go to the transfer agents or registrar's website.
The KYC procedure shall require you to upload the soft copy of your address and id proof. For the KYC you can also furnish Aadhaar number which would do away with the IVR for video verification and also provide a pre-filled form with basic details.
As a Final Step Go to the Fund House Site for Starting the SIP
After you are done with the necessary KYC procedure, visit the site of the fund house you have chosen for starting SIP investment with. Thereafter, you can enter your details as a new investor. The fund house may ask you to create your log-in credentials for transactions online.
Further bank details needs to be provided for auto debit and redemption feature. The company will then ask for the suitable date for the SIP proceeds to be debited and in a matter of say a month's time your SIP investment shall start.